Up & Coming cali towns???

fergus51 · Apr 28, 2006

I don't know if that's realistic right now. Everyone is saying real estate prices are going to either flatten out or actually go down in the next few years, so buying and selling for a profit will be a lot harder. If you are looking for anything cheaper, look inland. Even places about an hour or two inland are way cheaper than on the coast. My friend lives in Pomona and housing is waaaaaayyyyy cheaper than anything closer to LA (though cheaper still means about $400K minimum for a house). I live by the beach and a 2 bedroom 2 bath on our street is listed at $899K.

NERVOUSNURSE76 · Apr 28, 2006

My Sister In Law Just Bought A House In Fontana, On The Day That She Moved In, Her House Went Up To 30k, I Guess Thats Good News, And They Just Recently Opened A Hospital Close By, Maybe You Should Check It Out

RANCH GIRL · Apr 28, 2006

I have a friend who sells real estate in the Temecula/Murrieta area, and she said that she has been starting to notice more and more foreclosures.

iluvmynavyman · Apr 29, 2006

vitorville, apple valley and perris

Sheri257 · Apr 29, 2006

I was just wondering if any of you knew of places in cali that still haven't been all shook up from the housing prices but is up & coming. Meaning, right now it's still cheaper living but in the next few yrs you think it might grow. Ppl keep telling me there are cheap places to live in cali but they're just not right off the coast. we want to move to ventura but i'm thinking what if we found a place w/ affordable housing that is growing so after a few yrs we can turn around & make a profit on our home. This way we can put down a nice down payment on a home in ventura. thanks......is this just wishful dreaming????????

This is what we did: buy cheap in a fast growing inland town. Our house ended up doubling in value in just two years. But we researched various towns for 2-3 years before we bought. There are cheap towns but not all cheap towns are going to go up in value. If lots of good paying jobs aren't within commuting distance, for example, then the appreciation potential isn't going to be high.

And, even if there are good paying jobs within commuting distance, you have to consider the possibility that recent sky high gas prices might reduce housing demand in the area because of commuting costs. There's a lot of factors that a buyer should research.

The other problem with trying to do this now is that the market is slowing down, so I'm not sure you can expect the same kind of appreciation that's happened in the last five years. The housing market has gone up for so long, the downturn could be drastic. Anybody who buys anywhere, even in cheaper areas, could easily end up in a negative equity situation if they're not really careful. Then you'd really be stuck.

It usually takes at least two years for a market downturn to manifest itself, sometimes longer. Even if prices start to drop, you could buy cheaper but, perhaps not as cheap as you could have if prices continue to drop after you buy. So you could still end up in a negative equity situation if you're not careful.

In many markets, renting can actually be cheaper than buying. I would rent, take my time and really shop around so I'd know what I was getting into beforehand. Because the last thing you want to do is get into a negative equity situation that could take years to recover.

:typing

crazylilkelly · Apr 29, 2006

thanks everyone!

TheCommuter, BSN, RN · May 3, 2006

Try Bakersfield. It is not the most glamorous or cosmopolitan place, but it is a rapidly growing city of 400,000 people. The homes there are beautiful and affordable (under $300,000).