When we moved to California a few decades ago, we lived in an apartment for 1 1/2 years just to save up a deposit. Bought a nice house and loved our community. I think, aside from all the illegals, the scariest thing is the property tax. We occasionally look at houses on the internet, in our old community. Cannot fathom paying those sky high property taxes again.
We have Prop whatever-it-is that brought down property taxes.
I had a gorgeous little Spanish Colonial just blocks from the LA River and right next to Griffith Park! I had gotten a place in the next neighborhood with lower prices. By the time I was chomping at the bit to get back to LA proper, property values were astronomical. And, being in a community over, my place, although nice, did not appreciate as fast.
You know, I think people just save their property taxes right along with their mortgage.
I sold my little Spanish Colonial to an unknown actor whose parents bought it for him. And I added lots of stuff to my last sale ... I was shocked that people were chomping at the bit to buy it.
My neighbor put his place up at around $800,000. I wanted to make a bid on it but but by the time I called 5 days later there were 42 bids and it went for well over a million.
I’m lucky this is my last house ...l no longer have the stomach or resources for it.
If you’re “east of CA” then you’re probably still getting some sun! In the end, at least we have SOMEWHERE to go!