Bob,
well, I don't live in O.C. anymore, and quite frankly, wouldn't want to as I was brought up in O.C. in the 1960s and in fact graduated from Santa Ana High School in 1970. things have changed markedly since the 60s and more for the worse in my opinion. I live in Riverside (actually Moreno Valley which is right across the freeway from Riverside) and am able to handle Riverside's "problems" a bit more than those found in O.C.
my mom has owned a home in Yorba Linda right off Orangethorpe up Richfield since 1973. Even it has changed dramatically and the cost of homes there has risen considerably. I think the price Pat gave you from 3 years ago was still during the big slowdown when real estate was taking major hits in SoCal.
my son lives in Irvine as he works there also and is about ready to move back towards Riverside, probably Corona, because of the costs, traffic, etc. If I were you, I wouldnt confine myself just to O.C. there are some really bitchin comminuties outside of O.C. like Chino Hills, Diamond Bar, and even closer to me like Temecula and Murietta that offer lots of space for reasonable prices.....
randy