At the moment, this site assumes some knowledge on your part of the basics of buying a house. It's a collection of anecdotal information on buying and selling real estate, and increasing the value of your real estate. I also plan on addressing some ways to get the most bang for your buck when purchasing a home.
I grew up in a construction family. My parents bought their first rental in 1986. I bought my first in 1997. In addition to being a licensed salesperson in CA, I was a building inspector for over 2 years.
I'm trying to cross reference my blogs. New friends welcome
My property value predictions for CA; Prices will largely stagnate in population centers and drop in suburban and rural areas.
My reasoning: 1. CA just elected a Democrat Super Majority to our state assemby. Prop 13 is now in danger.
2. Several large businesses, most notably Boeing have announce lay-offs and plant closures in this state. 3. Business owners continue to emigrate from Ca. 4. Continuing
amounts of real estate shadow inventory that will not be absorbed by
the CA economy because of private sector job loss. There are probably
two rounds coming with 3-4Million homes, and 5-6M homes and job losses
may aggravate these numbers.
5. Failure to develop energy sources faster than we are closing them down and aging power distribution infrastructure.
6. Recent taxes on lumber and passage of proposition 30 allowing increased sales taxes will retard new construction of housing.
in the near future septic tanks will no longer be allowed on properties less than 2.5 acres and on older homes, you'll be
forced to hook to sewer. Might want to check into that before buying an
If you can buy and reduce your housing outlay, interest rates make
sense to do so, especially if you buy a solar-electric (photovoltaic)
system at the time of purchase to hedge against rising electricity
After Sandy, and the gas shortages and rationing, I would
seriously recommend buying an electric golf cart in case of a disaster,
especially if you have solar panels. Especially if it has the standard plug for electric vehicles.
I can imagine a mini-bubble scenario if more government money is pumped into the economy, but we don't seem to have the population pressure on housing to drive prices up, though a speculative frenzy at these lower prices, or investors hedging against inflation may cause those investors to scoop up housing at today's low interest rates (3% ish)
I would like to read what any of you think on this, and your reasoning why.