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Living in California: real estate

California is a beautiful state, to be sure, but be prepared to pay for it as far as housing goes. No matter where you live, you are going to pay some pretty decent rental or housing prices, assuming that you don t live in a rundown housing project or something similar.

Salton City California Land Power Water & Sewer $9, 000

Salton City California Land Power Water & Sewer $9, 000

  - $200.00 15h 2m
Southeast California City Land 2.6 acres $6, 000 Terms

Southeast California City Land 2.6 acres $6, 000 Terms

  - $100.00 16h 53m
CASH SALE _____NO RESERVE __ CALIFORNIA PINES!!____++_+

CASH SALE _____NO RESERVE __ CALIFORNIA PINES!!____++_+

  30 $852.99 18h 51m
MONARCH GRAND VACATIONS Five Star CALIFORNIA Timeshare

MONARCH GRAND VACATIONS Five Star CALIFORNIA Timeshare

  1 $1.00 20h 2m
South Lake Tahoe California Silver Crown Timeshare!

South Lake Tahoe California Silver Crown Timeshare!

  - $1.00 20h 2m
CALIFORNIA CITY,  CA - LARGE SCENIC LOT LAND PARCEL!

CALIFORNIA CITY, CA - LARGE SCENIC LOT LAND PARCEL!

  - $99.00 20h 18m
160 Acres North of City of Yucca Valley,  S. CALIFORNIA

160 Acres North of City of Yucca Valley, S. CALIFORNIA

  3 $10.50 21h 2m
NEEDLES CALIFORNIA 5 ACRE, ROAD, MTNS, RIGHT OFF HWY 95

NEEDLES CALIFORNIA 5 ACRE, ROAD, MTNS, RIGHT OFF HWY 95

  12 $1,175.00 21h 27m
SAN LUIS BAY INN BEACH GOLF CALIFORNIA TIMESHARE

SAN LUIS BAY INN BEACH GOLF CALIFORNIA TIMESHARE

  7 $103.50 22h 37m
San Luis Bay Inn Timeshare California  RCI Silver Crown

San Luis Bay Inn Timeshare California RCI Silver Crown

eBay Giving Works 4 $213.50 1d 11h 2m
North Edward,  California Land 2.5 acres $4, 000 Terms

North Edward, California Land 2.5 acres $4, 000 Terms

  1 $100.00 1d 11h 24m
HIGHWAY FRONTAGE LOT IN SOUTHERN CALIFORNIA RESORT AREA

HIGHWAY FRONTAGE LOT IN SOUTHERN CALIFORNIA RESORT AREA

  $2,395.00 1d 13h 47m
MOUNTAIN RETREAT TIMESHARE-CALIFORNIA Free 2010 Usage

MOUNTAIN RETREAT TIMESHARE-CALIFORNIA Free 2010 Usage

  - $1.00 1d 14h 3m
MONARCH GRAND VACATIONS Five Star CALIFORNIA Timeshare

MONARCH GRAND VACATIONS Five Star CALIFORNIA Timeshare

  -
$1.00
$1,597.00
1d 20h 12m
CALIFORNIA Disneyland ANAHEIM Red Week TIMESHARE Deed

CALIFORNIA Disneyland ANAHEIM Red Week TIMESHARE Deed

  -
$1.00
$597.00
1d 20h 22m
.92 Acre Land In Beautiful California Pines! Mountains!

.92 Acre Land In Beautiful California Pines! Mountains!

  2 $10.50 1d 21h 33m
INTEREST FREE PAYMENTS - 5.34 Acres California City Adj

INTEREST FREE PAYMENTS - 5.34 Acres California City Adj

  1 $100.00 2d 17h 8m
California Pines Land Great Deal!Owner financing at 0%!

California Pines Land Great Deal!Owner financing at 0%!

  - $7,000.00 2d 18h 17m
California 2-Bedroom LockOFF Five-Star Timeshare 4-Sale

California 2-Bedroom LockOFF Five-Star Timeshare 4-Sale

  4 $11.50 2d 20h 3m
RESIDENTIAL LOT - CALIFORNIA   NEVADA  BORDER

RESIDENTIAL LOT - CALIFORNIA NEVADA BORDER

  12 $212.50 2d 20h 18m
A decent apartment is going to run you at least $1500 a month, more than that the closer you get to major cities like Los Angeles or San Francisco.

Population decline may actually bode well for renters and "wannabe" homeowners

That said, though, population decline in California is the greatest its been in many decades. More and more people are moving out of the state to areas where the cost of housing is much more reasonable and where the commutes are not nearly as long. In fact, experts state that if things continue as they are, California is slated to lose all of its educated work force by the year 2020. That may in fact bode well for someone who wants to live there, because if the state has to begin to attract residents back, it may just adjust its cost of living, rental and housing prices to do so. Therefore, there may be a sort of boomerang effect whereby the cost of living eventually in California will be *lower* than it is in surrounding states.

Buying a house

If you want to buy a house, in some cases, you are in luck. Foreclosures are way, way up, which means that depending on your credit score, you may be able to get some very good deals indeed. In fact, real estate prices have fallen at least 25%, more than that in some outer suburban neighborhoods. While it used to be true, for example, that a long commute was no detriment to living in the suburbs, today, the increasing gas prices makes that questionable at best. (Even though we have had recent drops in gas prices, there s no guarantee that the drops will continue, and consumers continue to be skittish about whether or not this will continue. Thus, this negatively impacts real estate prices in suburban areas with long commutes specially.)

What does that mean in terms of market and home price, though? Actually, average home prices have dropped at least 25% and as much as 40% on average in many areas. This is the biggest drop in real estate prices in over 30 years. Again, if you re looking, and you have got a good enough credit score to qualify for low (assuming you don t have the cash on hand), it s really a buyer s market and you can t go wrong.

Other factors to consider

Although you might have heard otherwise, the cost of living in California (other than housing) is really not that much more expensive, if at all, than it is any other area of the country. You do have to be careful and plan well, but one of the best things about California is that it s got quite a good public transit system in most areas. That means, if you don t want to fight the traffic in California, you really don t have to. And, it will save you money on gas to take public transportation, too.

Bottom line?

Despite what you might have heard, California is really a great place to live -- especially now, given the exodus of so many from the suburbs who moved to places with more reasonable housing values and shorter commutes. That said, though, now might be the time to get in, since California s going to have to scramble, and quick, to either win back old residents or attract new ones.

 


 

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