California Real Estate Appreciation On Steroids

California Real Estate Appreciation On Steroids



California Real Estate - Appreciation on Steroids
For the​ last five years, owners of​ California real estate have been hitting the​ ball out of​ the​ appreciation ballpark .​
Yes, a​ real estate market on steroids .​
California
California is​ heavily populated from north to​ south along the​ coastline, but they state offers significantly different ecologies .​
In Northern California, one is​ much more likely to​ see signs of​ the​ four seasons, get cold temperatures and​ more historic feel in​ locations such as​ San Francisco .​
Southern California, on the​ other hand, has an​ extremely moderate climate with temperatures rarely dipping below 60 degrees even in​ the​ winter .​
Rainfall is​ also scant with San Diego receiving roughly 11 inches a​ year .​
If you are considering moving to​ California, there are two constants throughout the​ state.
Traffic
So many people have moved to​ the​ state that traffic can be a​ real issue even on weekends .​
Los Angles traffic is​ legendary, but San Francisco and​ San Diego have their own congestion problems .​
Earthquakes
Earthquakes are a​ constant throughout the​ state as​ the​ San Andres Fault bisects much of​ the​ state .​
Earthquakes happen all of​ the​ time, but they are typically very small .​
If you live in​ California for​ more than a​ month, you won’t even notice them .​
Beaches, Sun and​ Culture
There are serious benefits to​ living in​ California .​
Foremost, of​ course, are the​ beaches .​
If the​ thought of​ spending weekends and​ evenings on the​ beach appeals to​ you, this is​ the​ place .​
You’ll pay a​ premium for​ it, but there is​ nothing like it .​
For example, the​ temperature in​ San Diego on October 5, 2018, the​ day I​ am writing this, is​ 79 degrees!
California Real Estate
California is​ an​ incredible place to​ live and​ real estate prices reflect it .​
Single-family home prices average as​ follows for​ the​ three major metropolitan areas - $620,000 for​ San Diego, $1,300,000 for​ central San Francisco and​ $750,000 for​ central Los Angeles .​
As a​ general rule, the​ closer the​ home is​ to​ the​ ocean, the​ more it​ will cost .​
As shocking as​ the​ prices are, the​ rate of​ appreciation is​ downright impossible to​ believe .​
In the​ last 12 months, California real estate has appreciated over 25 percent .​
For a​ 500,000 home, that is​ a​ gain of​ $125,000 in​ 12 months .​
Steroids indeed!
Real estate is​ all about location, location, location .​
While this is​ certainly a​ cliché, there is​ no doubt it​ is​ true in​ California.




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