California Real Estate Prices...People Leaving In Droves

[Greg B]

I've never seen such an inflated real estate market as California.

On my street alone the lowest house price is $700k and these same houses in upstate NY would go for $150k!

I've seen these houses increase in value 600% in just 4 years!

Why? They look like like double hammered shit on a Monday!

Now people can't afford the mortgages and taxes and they are FLEEING California. Everytime I turn around someone is sending out a new address and phone # because Nevada or Oregon are more appealing.

Yesterday on the news they explained that even though the houses have incresed in value people can't pay the taxes and HAVE to sell or go into debt. The tax burden on the working homeowner is so stressful that it's actually cheaper to rent or just move out. The news says it's because of the illegal immigration issue and low poverty issue. These unfortunate people require so much tax based services i.e. medical, that the average citizen not only is carrying a burden 3 times higher but isn't receiving services due to the high population of people who can't afford services in the line.

I've seen this at the banks and hospitals. More people in line it looks like Ellis Island.

Anybody here live in Cali or has moved to save $$$?

[Kimmykim]

Supply and demand is the most basic explanation for economics there is. As long as people are willing to pay the prices then they aren't going to stop rising. It's not like they'll ever fall by half either...

I live 5 blocks from the beach and a couple blocks from the Marina, no real complaints from me.

[AndyA]

The reason prices are so high is because people are willing to pay those prices.. so everyone isn't fleeing;-)

I live in tampa on the water and the houses on my block go for $1,000,000 for a tear down now.. I paid $220,000 4 years ago

thank you porn business

[xclusive]

Well up here there are houses that are 1 or 2 bedrooms that sell $500k+ and they don't have much land or anything that's why I am moving and still be able to retire by 30...

[pornguy]

That thing about blaming the immigrants is the biggest bunch of bullshit.

I am from Miami, and there are more immigrants there that have no job, or a low paying job, and you can pick up a sweet house for 200k and sometimes under.


And the taxes are NOT that high.

Dont forget that one of the reasons that you pay high tax in Cali, is because the people think that Cali is the best place in the country to live, and it is the only palce for the rich to play!

And they are wrong on both counts. Not to mention the mismanagment of the money by the state.

[sean416]

I agree with whats said above, if the prices are climbing that means theres more demand then supply.. so more people must be coming then the ones who are leaving. and if the ones who are coming can afford to spend 3/4 of a million on a house and the ones who arent are leaving.. then all in all you would have to assume thats a good thing for the state of california because people with more money spend more money and it will only boost the economy. They just better keep the ghettos, ghetto. cause thats when theres a problem. You need to maintain atleast a 50% ratio of people who live in the area vs. people who work in the area. If everyone lived in a 700k house, then who would work at McDonalds?

[wes]

i moved from cali to nv. But not much of a diff. Old was sold for 800k. Bought this one for 100k and some less but prices out here are goin up as well.

[Babagirls]

the prices here in the midwest are rising too. 5 yrs ago, decent (not even good, just decent) houses were about $175k, now they're about $250k. You want a GOOD house out here? You're lookin at $400k (before closing cost). Want a mansion on the lake? You're lookin at a $1 1/2 mill. IN WISCONSIN!! lol

prices are soaring up for sure. it wouldnt be much of a problem if jobs werent being lost, the USD losing some value, and taxes going up.

[jade_dragon]

I would not necessarily say this is supply and demand...... those rules of marketing and market trend leave out two important things, greed and vanity. when you calculate those two things in you can have individuals raise prices increasingly playing upon the vanity of consumers who will increasingly pay higher and higher amounts in an attempt to show off. It may seem silly but the very people who do it are some of the very people who post here......

So the prices go up because in Cali a big part of the mentallity is to show off how much money you can spend on what others can not or will not. As long as people keep doing this then there will be individuals who are in positions to exploit it by increasing the prices. This does not mean that EVERYONE wishes to be a part of this cycle and they WILL leave the area either by choice to avoid the increase or because they are forced to as they can not keep up and over extend. Comparing your houses and mentality of consumers in the south and east is truly apples and oranges. Most of us live in houses just as large that have land attached to them and pay substantially less.

[pornguy]

True. I have a ranch in Florida ( North ) that is 100 acres. We sold the little one of 10 acres and got this one. It has 1 3/2.5 house with 2 barns and 1 appartment. It is fenced and cross fenced and the taxes before the green belt exempt was 1500$ a year.

[Sheri Santiago]

Property is ridiculous here in Scottsdale. Not as bad as CA, but they want $300K+ for less than half an acre of land a few blocks from my house.

[Morgan]

Yup, bought my house here in Newport Beach, CA for $439,000.00 about 4 years ago and it was just appraised at 1.1M last month!

woohoo!@!

[Fletch XXX]

Originally posted by pornguy
That thing about blaming the immigrants is the biggest bunch of bullshit.

California has 1/3 of the ENTIRE UNITED STATES ILLEGAL IMMIGRANT POPULATIOn.

you are wrong.

There are article after artcile about this harming california.

its always someone who lives on the otherside the country who knows it all. cali is plagued by the largest count of illegals in this country. as i said, 1/3 of the illegals in the US are in california.

i gues the newspaper articles about hospitals being closed because of illegal overuse and underpay is bs too?

[Greg B]

Originally posted by pornguy
True. I have a ranch in Florida ( North ) that is 100 acres. We sold the little one of 10 acres and got this one. It has 1 3/2.5 house with 2 barns and 1 appartment. It is fenced and cross fenced and the taxes before the green belt exempt was 1500$ a year.

$1,500 per year????????

Where do you live in Hooterville???

For ONE friggin' acre in New York we were paying $12,000K per year. But then again on average an acre goes for $20k +


California is overpriced. Plain and simple. I remember the quake in '84 and prices dropped faster than a Bang Bus Ho's drawers.

You let ONE sizable quake hit California or some terrorist car bomb shit and prices will drop even faster.

[Fletch XXX]

http://www.wnd.com/news/article.asp?ARTICLE_ID=33830

Californians tried to defend their state. As illegals poured in by the hundreds of thousands yearly, they passed Proposition 187, denying social welfare benefits to illegal aliens who had broken the law and broken into the United States.


By the 1990s, an exodus of taxpayers had begun. Fed up with being fleeced to subsidize illegal aliens, Californians began leaving for Nevada, Idaho, Arizona and Colorado. Two million native-born Californians left the state in the 1990s, as immigrants, legal and illegal, sent poverty rates soaring in Los Angeles, Riverside, San Bernardino and Orange counties.

This, then, is what killed California:

First, open borders. By failing to enforce our immigration laws, America now hosts 31 million legal immigrants and their children and 10 million illegals, most of them net tax consumers. California got the lion's share.

Second, global free trade and the trade deficits it produced, now running at an annual rate of $562 billion in May. This has killed millions of manufacturing jobs, as thousands of companies closed factories here and shifted plants to Mexico, Asia and China.

The Third Worldization of California is now far advanced. Yet those responsible, Bush Republicans as well as Clinton Democrats, still cannot see what they have done to our country.

But what is happening in California is not confined to California. It is happening across America. Unless we elect a president who will enforce our immigration laws and defend our borders, unless we find a Congress that will jettison the free-trade madness that is denuding America of her manufacturing, what has happened to California will happen here.

President Bush appears oblivious to it all ? but then, so did his father before him.

[Greg B]

Originally posted by Fletch XXX
California has 1/3 of the ENTIRE UNITED STATES ILLEGAL IMMIGRANT POPULATIOn.

you are wrong.

There are article after artcile about this harming california.

its always someone who lives on the otherside the country who knows it all. cali is plagued by the largest count of illegals in this country. as i said, 1/3 of the illegals in the US are in california.

i gues the newspaper articles about hospitals being closed because of illegal overuse and underpay is bs too?

Fletch you are absolutely right!

They closed the two biggest hospitals because of this shit.

Luckily Kaiser Permanente is still open but you're shit out of luck if you need emergency treatment and have no health insurance.

Same with the school system. So many illegals in it the regular kids are fucking up left and right.

Yet for some dumbass reason we've got the Bush Administration's bullshit about national security and how they're monitoring our bank accounts, medical records, travel yet each year 10 million mother fuckers just cross the borders???

WTF? Al Queda can just waltz across the border and get a job at Mickey D's and poison half the country before we'd find out.

[Greg B]

Originally posted by Fletch XXX
http://www.wnd.com/news/article.asp?ARTICLE_ID=33830

Californians tried to defend their state. As illegals poured in by the hundreds of thousands yearly, they passed Proposition 187, denying social welfare benefits to illegal aliens who had broken the law and broken into the United States.


By the 1990s, an exodus of taxpayers had begun. Fed up with being fleeced to subsidize illegal aliens, Californians began leaving for Nevada, Idaho, Arizona and Colorado. Two million native-born Californians left the state in the 1990s, as immigrants, legal and illegal, sent poverty rates soaring in Los Angeles, Riverside, San Bernardino and Orange counties.

This, then, is what killed California:

First, open borders. By failing to enforce our immigration laws, America now hosts 31 million legal immigrants and their children and 10 million illegals, most of them net tax consumers. California got the lion's share.

Second, global free trade and the trade deficits it produced, now running at an annual rate of $562 billion in May. This has killed millions of manufacturing jobs, as thousands of companies closed factories here and shifted plants to Mexico, Asia and China.

The Third Worldization of California is now far advanced. Yet those responsible, Bush Republicans as well as Clinton Democrats, still cannot see what they have done to our country.

But what is happening in California is not confined to California. It is happening across America. Unless we elect a president who will enforce our immigration laws and defend our borders, unless we find a Congress that will jettison the free-trade madness that is denuding America of her manufacturing, what has happened to California will happen here.

President Bush appears oblivious to it all ? but then, so did his father before him.

A Freakin' Men FLETCH!!!

Lemme kick this shit on the downlow-real-dilly....

The main reason the politicians and legislators aren't stopping this shit is because they're making money hand over fist abusing the illegals. I don't have any animosity toward the illegals because they're trying to just stay alive. They come from countries where the men don't give a shit about honor and decency and fuck their own people over worse than a Ferengi on crack!

Anytime you see a politician or a legislator ignoring the immigration problem or subsidizing this shit you can bet your last grubnitz it's because on the side they're fucking some poor foreign girl or boy. It's taxpayer subsidized indentured servitude and them chicken-hawk lawyers and politicians are so busy lookin' for their next tight-butt boy to fuck they're fucking the rest of us over.

Not to mention the drug mules. Keeping those drug trade routes open is big business.

Ever notice how since 911 with all the surveillance and restrictions the price of dope nor quantity has diminished? What fucking more do you need to know this is all more blarney than a two-headed leprechaun snowboarding off a rainbow???

I swear, the older I get the more bullshit I see and smell. Yet you won't have the American people or press get on the case because it doesn't interfere with their creature-comforts. You let the football game or the soap operas or cigarette and beer get interrupted and say it's because of an illegal immigrant and within 24 hours every illegal from Mexican to Polish to Nigerian would be kicked out of the country so fast there would be friction burns on their green cards.

It's about dope, pussy and money homeboy.

[Greg B]

Originally posted by Ganjasaurus
Yup, bought my house here in Newport Beach, CA for $439,000.00 about 4 years ago and it was just appraised at 1.1M last month!

woohoo!@!

Dang! You bought a house for that much here in California? What do you do for a living?

[KRL]

I moved to California in 1978. By '94 I saw the writing on the wall and decided it was time to leave. A lot of people in my demographic also left during the 90's.

I don't know how anyone can live in LA its become such a migrant slum circus.

They just had a PBS special on LA addressing this exact issue and how white people are leaving in droves.

Most people don't know the Mexican culture. I knew it well and they had a clear agenda from back in the early 80's that the best way for them to get their state back was to populate like rabbits to gain overwhelming political and economic control of the state. And that is what they have done.

[colpanic]

Supply and demand is a big part of the high cost of living, but we are still going to see a bubble burst here in San Diego shortly. Prices aren't going to fall by half or anything, but the glory days of 25-30% returns/year are over.

Heres why.

a) It is *so* much cheaper to rent here than it is to buy. If the problem was purely supply and demand, apartment prices would be through the roof as well.

b) Interest only loans. Everyone here buys property because they can get 25-30% returns in a year. Since most people can't actually afford the payments on a normal 500k mortgage, everyone buys adjustable rate mortgages that are interest only. (read: they don't pay off any of the principle during the first 10 years or so). This works out for people right now, because rates are so low, and with a 25% profit/year they can refinance.

Iinterest only loans are going to cause a flood of the market for a little while when interest rates rise... Since a lot of people are already stretching their budgets to pay the bills, and people are flipping properties.. as soon as the rates rise,peoples payments are going to skyrocket and they will have to sell.

That will, in turn burn a lot of flippers, who rely on the fact they can sell a house before they have to start paying interest on the loans.

Basically, the market isn't going to crash, but it will slow to a crawl for a little while, and then go flat for a few years.

I want to buy a place here myself, but I'm going to hold off for a bit until they hysteria dies down. If you want to figure out if you should buy a place, see if it makes sense for you to buy if you only gained 2-5% per year for the next 5 years. If so, you are probably safe from any crash.

my .02

[Xenophage]

Originally posted by colpanic
Supply and demand is a big part of the high cost of living, but we are still going to see a bubble burst here in San Diego shortly. Prices aren't going to fall by half or anything, but the glory days of 25-30% returns/year are over.

Heres why.

a) It is *so* much cheaper to rent here than it is to buy. If the problem was purely supply and demand, apartment prices would be through the roof as well.

b) Interest only loans. Everyone here buys property because they can get 25-30% returns in a year. Since most people can't actually afford the payments on a normal 500k mortgage, everyone buys adjustable rate mortgages that are interest only. (read: they don't pay off any of the principle during the first 10 years or so). This works out for people right now, because rates are so low, and with a 25% profit/year they can refinance.

Iinterest only loans are going to cause a flood of the market for a little while when interest rates rise... Since a lot of people are already stretching their budgets to pay the bills, and people are flipping properties.. as soon as the rates rise,peoples payments are going to skyrocket and they will have to sell.

That will, in turn burn a lot of flippers, who rely on the fact they can sell a house before they have to start paying interest on the loans.

Basically, the market isn't going to crash, but it will slow to a crawl for a little while, and then go flat for a few years.

I want to buy a place here myself, but I'm going to hold off for a bit until they hysteria dies down. If you want to figure out if you should buy a place, see if it makes sense for you to buy if you only gained 2-5% per year for the next 5 years. If so, you are probably safe from any crash.

my .02

agreed the run into 1989 in cali was stopped by rising rates and the earthquake. The market dropped about 15% satyed here for 10 years and in in 1999 went totally ballistic. I have several rental properties and am not buying till we see some of these interest only loans start to cause people to dump. we will see a decline.. and thats when I am gonna step up to the plate again.

but falling dollar and inflation might just cause the market to continue to rise rather than fall off.... 2 sides of the coin.

[Kimmykim]

Originally posted by jade_dragon
I would not necessarily say this is supply and demand...... those rules of marketing and market trend leave out two important things, greed and vanity. when you calculate those two things in you can have individuals raise prices increasingly playing upon the vanity of consumers who will increasingly pay higher and higher amounts in an attempt to show off. It may seem silly but the very people who do it are some of the very people who post here......

So the prices go up because in Cali a big part of the mentallity is to show off how much money you can spend on what others can not or will not. As long as people keep doing this then there will be individuals who are in positions to exploit it by increasing the prices. This does not mean that EVERYONE wishes to be a part of this cycle and they WILL leave the area either by choice to avoid the increase or because they are forced to as they can not keep up and over extend. Comparing your houses and mentality of consumers in the south and east is truly apples and oranges. Most of us live in houses just as large that have land attached to them and pay substantially less.

If this is the case, then can you point me to the new beach front property that's being created? Real estate is totally about supply and demand, and that's based on location. Yes, I agree, it's very expensive to live here. But then again, if I lived in Idaho, where it's relatively cheap (with the exception of certain parts like Sun Valley) I don't think I could wake up to 300 days of sunshine every year, ride my bike to the beach in less than 5 minutes, or be on my boat in the marina in the same amount of time.

That's the beauty of land, unless you live in Hawaii, they really aren't making it any more...

[Rochard]

Phoenix rocks. For $220k I built a five bedroom custom house with a pool. The same house outside of San Francisco would have cost me how much? $600k-$900k easy.

And everything else is cheaper out here too.

[jimmyf]

Originally posted by Fletch XXX
California has 1/3 of the ENTIRE UNITED STATES ILLEGAL IMMIGRANT POPULATIOn.

you are wrong.

There are article after artcile about this harming california.

its always someone who lives on the otherside the country who knows it all. cali is plagued by the largest count of illegals in this country. as i said, 1/3 of the illegals in the US are in california.

i gues the newspaper articles about hospitals being closed because of illegal overuse and underpay is bs too?

i think you just might correct

[Kimmykim]

Originally posted by RocHard
Phoenix rocks. For $220k I built a five bedroom custom house with a pool. The same house outside of San Francisco would have cost me how much? $600k-$900k easy.

And everything else is cheaper out here too.

Your house in the Bay area would have been well over a mil

[jimmyf]

Originally posted by Kimmykim
Your house in the Bay area would have been well over a mil

the Bay Area is something else, I moved out 3 years ago, I guess the last straw was when my office rent went up by 4 times in 1 1/2 year one good thing my Apt. rent just went up by 3 times

[latinasojourn]

Originally posted by RocHard
Phoenix rocks. For $220k I built a five bedroom custom house with a pool. The same house outside of San Francisco would have cost me how much? $600k-$900k easy.

And everything else is cheaper out here too.

california is OK, but the value is not there.

i lived 20 years in san francisco, started a real estate brokerage and bought and sold slum property in the mission and western addition around alamo square.

sold out in 1990.

live in a big country estate now in a midwestern area.

was back in the city last year. the children of the same rent control afros are now standing on the same street corners, still living in the same rent control apartments.

there are folks that will spend a million bucks for a victorian house in this neighborhood and come home from safeway and fight to find a place to park and carry their groceries into the house and fight off street jigs every step of the way.

but not me. the value ain't there.

[media]

Two years ago the stats were 2 million people left Cali, and only 65,000 people moved there..

That means outbound states, Oregon, Nevada, Arizona, Washington are the places to be for Real Estate investments...

I just so happen to be in oregon and have seen the increase in traffic, houseing development, and property price increases..

[SleazyDream]

Originally posted by Kimmykim
Supply and demand is the most basic explanation for economics there is. As long as people are willing to pay the prices then they aren't going to stop rising. It's not like they'll ever fall by half either...

I live 5 blocks from the beach and a couple blocks from the Marina, no real complaints from me.

same money most any other city you'd be ON the beach and beside the marina.

[MBS Auto]

CA sucks now... too many Morons came in and purchased whatever was available...

That's why I moved to NV last month

[media]

Originally posted by MBS Auto
CA sucks now... too many Morons came in and purchased whatever was available...

That's why I moved to NV last month

LOL See my above post..

[OzMan]

Originally posted by media
Two years ago the stats were 2 million people left Cali, and only 65,000 people moved there..

That means outbound states, Oregon, Nevada, Arizona, Washington are the places to be for Real Estate investments...

I just so happen to be in oregon and have seen the increase in traffic, houseing development, and property price increases..

The latest statistic I heard for Las Vegas said 5000 people move here every week AND 1600 leave every week.

So if you you are thinking of moving here from Cali to get away from high real estate prices and traffic, think again as it is almost the same here now.

[OzMan]

Originally posted by MBS Auto
CA sucks now... too many Morons came in and purchased whatever was available...

That's why I moved to NV last month

and see my post above

[pornguy]

Well since you guys think that the immigrants are the main problem that Cali has, then get rid of them ALL of them. And then when you pay 20$ for a pint os strawberrys, dont bitch. Someone has to pay for that 700K over priced house that the American pickers are living in.


This country relies on the immigrants much more than they are willing to admit.


And fletch. I live 20 miles south if the US border.

[wes]

check out phoenix

[Meloman]

I love California property & prices. My family has made good money over the years from various property investments.

I'm in San Francisco. The cool thing about SF and the peninsual is that there is no more room to build. We're the perfect example of supply & demand economics. From San Francisco to San Jose you've got a ton of cities with an average home cost of $500K+ and it just keeps rising. You've got the bay on one side and mountains on the other. There's no room to build, it's an economically strong area (despite the dot com bust there's still PLENTY of work overal) so prices just keep increasing.

Now on the east bay stretching from Oakland to Sacramento there's a TON of new construction going on. All the farm lands on that side are all being converted to new towns. My buddy bought a new construcion home for like $350K last year and by the time he movied in this past July it was all ready worth $500K. Some town about 45 minutes north of SanFrancsico.

I see soooo much new construction going on right outside the bay area that it's safe to say that even though people are leaving California there's still plenty of people buying right here.

I love Norhtern California

[angelsofporn]

i paid 750k a year and a half ago for a nice house in north county San Diego ...appraised 2 months ago at 1.3 mill.
Probably help[s that the house next door is selling for 2.7 mill

[strobi]

Originally posted by Greg B
$1,500 per year????????

Where do you live in Hooterville???

For ONE friggin' acre in New York we were paying $12,000K per year. But then again on average an acre goes for $20k +


California is overpriced. Plain and simple. I remember the quake in '84 and prices dropped faster than a Bang Bus Ho's drawers.

You let ONE sizable quake hit California or some terrorist car bomb shit and prices will drop even faster.

Imagine spending a few million back in those days and selling now

[bigdog]

NY is crazy also. You got attached homes selling for 1million and they are not even in the city

[cool1g]

one thing to rememeber is some of these people who have made $500K on their homes are moving to Vegas and AZ or the midwest and buying nice homes for $300K cash and retiring.

i'm looking for a place to buy here in LA and i'm resigned to paying $600K for a condo or $1.4mil+ for a house....probably gonna do it next year...

[HighRoller]

I am a full time real estate investor
I got out of Las Vegas with my summer condo
just in time, they were the hottest city for 3-4 years
homes doubling and tripling. Over a 45 day period
it went from about 3000 listings to 14,000 listing, people are having a hard time selling now. We are in a slow market up here in Minnesota. Arizona has the fatest growing cities now by price and population. Florida has some great appreciating areas.

California is just over priced, yes their is a big demand now, but that market is too volatile, it's very much like the principles of the stock market where as the bubble will have to burst.
Now my market when it is bad goes up only 2-3% if it's really slows down, other markets, maybe even Cali can definately go down, Check market cycles of the last 30+ years, in certain pockets homes have gone down 20-30% quickly. It's possible, not going to happen everywhere but it's possible.


Wait until interest rates go up
from 6% to 9%, that will cost people 50% more, which they won't be able to afford. Did you know some markets haven't appreciated for 10-20 year periods before? The last 5 years overall has been a major increase in appreciation, yes, but much of that is because all of the renters became first time homeowners that could afford homes once the interest rate went from 9% to 6%.

I study real estate investing full time everyday, I have the equivalent of thousands and thousands worth of top notch education of ideas people wouldn't believe cooler shit that the adult biz, much cooler.

I love real estate it will keep going up, and adult it awesome to, just be careful, people are walking from big deals in vegas now that it started slowing down.


I have homes 60-70% market price every day where I live come across my desk. I had 6 homes just last week worth Market values of $1million for $700k, just because it's tough to sell $300K homes in my market right now, part of this is just because I'm trained to find them, but their are definate market cycles in many areas of the country. Big indicators are also an influx in jobs in an area.



Anyone interested in where to read up and learn about investing and all the great stuff, let me know I'll show you where some good free training is.

[colpanic]

Originally posted by HighRoller
I am a full time real estate investor
I got out of Las Vegas with my summer condo
just in time, they were the hottest city for 3-4 years
homes doubling and tripling. Over a 45 day period
it went from about 3000 listings to 14,000 listing, people are having a hard time selling now. We are in a slow market up here in Minnesota. Arizona has the fatest growing cities now by price and population. Florida has some great appreciating areas.

California is just over priced, yes their is a big demand now, but that market is too volatile, it's very much like the principles of the stock market where as the bubble will have to burst.
Now my market when it is bad goes up only 2-3% if it's really slows down, other markets, maybe even Cali can definately go down, Check market cycles of the last 30+ years, in certain pockets homes have gone down 20-30% quickly. It's possible, not going to happen everywhere but it's possible.


Wait until interest rates go up
from 6% to 9%, that will cost people 50% more, which they won't be able to afford. Did you know some markets haven't appreciated for 10-20 year periods before? The last 5 years overall has been a major increase in appreciation, yes, but much of that is because all of the renters became first time homeowners that could afford homes once the interest rate went from 9% to 6%.

I study real estate investing full time everyday, I have the equivalent of thousands and thousands worth of top notch education of ideas people wouldn't believe cooler shit that the adult biz, much cooler.

I love real estate it will keep going up, and adult it awesome to, just be careful, people are walking from big deals in vegas now that it started slowing down.


I have homes 60-70% market price every day where I live come across my desk. I had 6 homes just last week worth Market values of $1million for $700k, just because it's tough to sell $300K homes in my market right now, part of this is just because I'm trained to find them, but their are definate market cycles in many areas of the country. Big indicators are also an influx in jobs in an area.



Anyone interested in where to read up and learn about investing and all the great stuff, let me know I'll show you where some good free training is.

Hey, I'm always interested in reading stuff like that... If the free training is on the net, could you just post the links here?

Thanks.

[Young]

Originally posted by Greg B
I've never seen such an inflated real estate market as California.

On my street alone the lowest house price is $700k and these same houses in upstate NY would go for $150k!

I've seen these houses increase in value 600% in just 4 years!

Why? They look like like double hammered shit on a Monday!

Now people can't afford the mortgages and taxes and they are FLEEING California. Everytime I turn around someone is sending out a new address and phone # because Nevada or Oregon are more appealing.

Yesterday on the news they explained that even though the houses have incresed in value people can't pay the taxes and HAVE to sell or go into debt. The tax burden on the working homeowner is so stressful that it's actually cheaper to rent or just move out. The news says it's because of the illegal immigration issue and low poverty issue. These unfortunate people require so much tax based services i.e. medical, that the average citizen not only is carrying a burden 3 times higher but isn't receiving services due to the high population of people who can't afford services in the line.

I've seen this at the banks and hospitals. More people in line it looks like Ellis Island.

Anybody here live in Cali or has moved to save $$$?

I don't even think Cali has any cities in the top 5 as far as cost of living goes. At least you have nice weather.

Try paying a bundle to have snow dumped on you for 4 months a year.

[latinasojourn]

the problem with calif real estate as an "investment" is that you have to take your money on the come.

by that i mean that rentals typcially are too far below the carrying costs of sale prices, and if you factor in rent control municipalities you are fucked unless you owner-occupy.

traditionally property should rent for about 1%/month of market value, and should be able to break even or have positive cash flow when the investor puts 20% d.p.

this is very rare in california.

if you want extreme leverage you must find properties that will break even with almost nothing down.

and there are some place like this in america if you look carefully and make many offers, and buy and sell on owc wraparounds.

but not in california.

[latinasojourn]

real estate investment tip.

usa will have big inflation within 18 months.

if you have an ARM you might be fucked in a high priced property.

take your equity out now, and reinvest in southern states of midwest.

[TheJimmy]

Originally posted by HighRoller
I am a full time real estate investor
I got out of Las Vegas with my summer condo
just in time, they were the hottest city for 3-4 years
homes doubling and tripling. Over a 45 day period
it went from about 3000 listings to 14,000 listing, people are having a hard time selling now. We are in a slow market up here in Minnesota. Arizona has the fatest growing cities now by price and population. Florida has some great appreciating areas.

California is just over priced, yes their is a big demand now, but that market is too volatile, it's very much like the principles of the stock market where as the bubble will have to burst.
Now my market when it is bad goes up only 2-3% if it's really slows down, other markets, maybe even Cali can definately go down, Check market cycles of the last 30+ years, in certain pockets homes have gone down 20-30% quickly. It's possible, not going to happen everywhere but it's possible.


Wait until interest rates go up
from 6% to 9%, that will cost people 50% more, which they won't be able to afford. Did you know some markets haven't appreciated for 10-20 year periods before? The last 5 years overall has been a major increase in appreciation, yes, but much of that is because all of the renters became first time homeowners that could afford homes once the interest rate went from 9% to 6%.

I study real estate investing full time everyday, I have the equivalent of thousands and thousands worth of top notch education of ideas people wouldn't believe cooler shit that the adult biz, much cooler.

I love real estate it will keep going up, and adult it awesome to, just be careful, people are walking from big deals in vegas now that it started slowing down.


I have homes 60-70% market price every day where I live come across my desk. I had 6 homes just last week worth Market values of $1million for $700k, just because it's tough to sell $300K homes in my market right now, part of this is just because I'm trained to find them, but their are definate market cycles in many areas of the country. Big indicators are also an influx in jobs in an area.



Anyone interested in where to read up and learn about investing and all the great stuff, let me know I'll show you where some good free training is.

what's your contact info?


if you prefer to not leave that here, beep me on ICQ at 5702550


thanks

[HighRoller]

you can just email me at ron at onewebsite.com
and I"ll get you some real estate their is a lot of info.

By the way I've had a good run for 5 years in this biz
but had to go to investing full time 100's of ideas
that blow away the adult biz, ideas that are just too good.

email me and I"ll get you started.

To get really good though it can take a couple of years, their is a lot to learn.

[Xenophage]

nice read thanks


all teh properties I got in cali make cash flow...

and all have doubled in price since I bought them so even if we drop 25-30 % I am still way up.. I plan on never selling and keeping that nice relitivly low property tax rates.

[PhotoGreggXXX]

Originally posted by KRL
I moved to California in 1978. By '94 I saw the writing on the wall and decided it was time to leave. A lot of people in my demographic also left during the 90's.

Here ya there...a nice house in woodland hills in the late 70's cost me 1/2 a million with outrageous taxes. Moved to South FL and now have a house that cost just a little more, about 900k, with 4 acres, 4 bedrooms, 3 bath, tennis court, pool, jacuzzi and barn for 6 horses

Couldn't get the same type of property-house-land in LA for under 4-5 mil. I don't have the traffic, smog and high taxes either here in S. FL

[Fletch XXX]

Originally posted by latinasojourn

there are folks that will spend a million bucks for a victorian house in this neighborhood and come home from safeway and fight to find a place to park and carry their groceries into the house and fight off street jigs every step of the way.

but not me. the value ain't there.

street jigs

hahaha