Will price come down in California?

Discussion in 'Real Estate' started by crazymonk, Oct 8, 2006.

  1. crazymonk

    crazymonk Member Original Member

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    We move away from California because of the ridiculous high price. However, we miss California's warm weather and good food, we want to move back. Recently, the house price stay stagnant since last year. Anyone have an idea if the price will go down, and what do you think how much decreasement?
     
  2. nelaina

    nelaina Active Member Original Member

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    dont know but i think its worth the higher price. california is a wonderful place to live...you can pay almost as much to live in New Jersey and who in their right mind would CHOOSE to live in New Jersey?
     
  3. Im Not Warren Buffett

    Im Not Warren Buffett Active Member Original Member

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    I'm not sure, I bailed as soon as the opportunity presented itself. As much as Wawas are great, the traffic, politicians, property taxes, poor air, etc. etc. all mean that I don't really like much about NJ. I think the only reason most people live there are because they work in Philadelphia or New York. Not that I'm trying to turn this into a bash-NJ thread. :)
     
  4. marapets

    marapets New Member Original Member

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    its only a matter of time in my opinion 8)
     
  5. vetelmo

    vetelmo Active Member Original Member

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    Well i live in California and Im thinking about moving up north to Oregon or Washington where I wouldn't make much less a year and the difference in home prices is unbelievable.

    I live in Salinas right now (yes where this e-loci bullcrap is) and it's got gangs and the homes are not all that great but the medium price for homes in safer areas is about 600k. We pay $1,200 to rent a 2 bedroom apartment.

    Up north rent for our apartment would be about $700 and homes go for around 150k-200k and I would only make about 4k-7k less per year.

    Let's not forget that food, fuel and clothing cost more in California than most other places. Gas is about $2.65 here while I assume the rest of the country is much less.
     
  6. yandig

    yandig Member Original Member

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    I've lived in Oregon for years. It's a great place to live. The rainfall is exaggerated by people who don't live here. We usually have pretty dry seasons, except for winter, which tends to be very wet.

    Gas is expensive here, but gas prices are high in California, too. As the desirable places to live around the country become unaffordable, i think we'll see Oregon's home prices rise. My house has gained about 50% value in 3 years, and prices haven't really started dropping yet.
     
  7. stockmarkettips

    stockmarkettips Member Original Member

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    House prices are still up like 30% over what they were three years ago, but it looks like this year houses are staying on the market for a longer and longer period of time and prices are going down slowly but surely. I have a couple friends that bought just last year and are feeling the pain now as their home depreciates.
     
  8. Kiman4

    Kiman4 Member Original Member

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    Maybe its possible that our home prices rise and fall with our gas prices

    at about the same time we hit about 3.30 per gallon homes were ridiculously overpriced but now that they are falling i think the home market is doing better, so maybe we should give out free oil and see what happens to our prices :wink:
     
  9. frusnak

    frusnak Active Member Original Member

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    Great idea. I will offer free gasoline card along with my house when I try to sell. :D
     
  10. Grimreaper

    Grimreaper Active Member Original Member

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    Oh it ain't da comin down that will git ya. It was what fokes did during the "going up" that'll get em since human nature is to spend frivolously when you get money you don't think you deserve. I already outlined what I would have done if my home value doubled in 3 years which is actually the case in my area. I would have taken ALL the gain out and then told da bank to take my house back fo da balance....just like trading a stock! :lol: And I mean it! :shock: :roll: :D BTW, save yer fry greese in case ya need it to fuel yer $30000 puddle jumpin chitbox zippity doo dah ZAP mobile in da future....in case things git tight on oil. :roll:
     
  11. Kiman4

    Kiman4 Member Original Member

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    anybody who bought land out here about 8 years ago must have really cashed in when everything was 3x cheaper

    my house- bought 1997 200k
    today- 500-600k
     
  12. Bootyshakerb

    Bootyshakerb New Member Original Member

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    My advice is to buy lots of land along the new pacific coast. That being when California breaks away from the continent.
     
  13. wjmathewsx

    wjmathewsx New Member Original Member

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    i concur with booty
     
  14. vetelmo

    vetelmo Active Member Original Member

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    Believe it or not there are idiots here paying 700K for homes near intermintent gang violence.
     
  15. Do5

    Do5 Member Original Member

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    I see why most mortgage brokers from CA are looking for stated income loans....
     
  16. prs1065

    prs1065 Member Original Member

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    booty seams to know what he is talking about
     
  17. marypeterson

    marypeterson New Member Original Member

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