Real Estate boom in CA...

[Krazy K]

My aunt just came up here for a doctor's conference and we were talking about their house they just bought in Sierra Madre. Small 500 sq. ft. bungalow up against Mt. Wilson. They did almost a complete teardown and rebuild. They bought it for 180k and put another 130k into it. Now it is about 900 sq. ft. She told me the reason why is some magazine came out with a study of the 10 best real estate investments in the US. I don't remember the name of the article or the mag, but 9 out of the 10 were in CA. Sierra Madre was #2. They also own a house in Laguna Beach. They bought it 4 years ago for about 409k, small and about 700 sq. ft. but only three blocks to the sand. They just had it appraised at 1 million and change.
Now, if that is not positive appreciation, then smack me in the ass and call me Charlie!!!

[al cole'holic]

...take a look around at how many new boats are being built/sold and what has happened to the Havasu housing market in the last year. I would say a very very high % is directly related to the SoCal boom :D

[Mandelon]

I used to hang out in Sierra Madre....nice little town. It was always pretty high priced.

[BoatPI]

I was told that 75% of the RE purchases in LHC are from CA.
Interestingly I just returned from Canmore, Alberta, Canada. A sweet town just outside of Baniff Natoinal Park. Seriously looking at a condo. RE agent told me 50% of the buyers are from Texas. Go figure.
Chapman U in OC just predicted a 16% rise in OC value for 2004-05, then a 2.5% depreation in 2005-06. Chapman U publishes a very accurate RE report yearly.

[welk2party]

Well California is one the fastest growing states. More than 60% of Californians live in the Southern half. Southern California has roughly 38 million people and is expected to increase to 50 in 15 years. 1 out of 6 people born in the U.S. are from California.
No wonder real estate is rising and will continue to do so.

[Mr.Havasu]

Originally posted by welk2party
Well California is one the fastest growing states. More than 60% of Californians live in the Southern half. Southern California has roughly 38 million people and is expected to increase to 50 in 15 years. 1 out of 6 people born in the U.S. are from California.
No wonder real estate is rising and will continue to do so.
Minus 2----We left the rat race for Havasu

[TCHB]

Yes the real estate market is up in So Cal and Havasu. A million dollar house is not that big of a deal anymore. In Havasu the same goes for a $400,000 house in Havasu.