Outsmart the California Housing Demand
The Wall Street Journal reports that the demand for housing in California is at a fever pitch, requiring people to take out jumbo mortgages in order to have a chance at owning property.
Regarding Los Angeles, “Demand is high at every level and every price point…For homes priced at $2 million and under—even up to $3 million—the market is “insane” right now.”
They also state that inventory is tight for single-family homes because there is no land to build new ones, but that isn’t necessarily true about all of California. Affordable and available land and homes are available in California—if you know where to look.
If you look at a California map starting at Los Angeles, it becomes obvious that the only directions open to vast growth are north and east of Los Angeles.
If you move south, the population becomes more dense and more expensive as you head closer to San Diego. If you move west along the coastline, you face the same type of development.
East of Los Angeles county however, lies San Bernardino county. It has grown at a moderate pace over the last 40 years, and it is the largest sized county in the entire United States. As the cities in this county continue to grow, growth in general will certainly continue eastward. Knowing that only more people will continue migrating to California, and that we are overcrowded as it is, wouldn’t it make sense to claim land in the path of this growth before it too, becomes expensive and out of reach?
Besides the fact that there are currently homes out in the Yucca Valley, Twentynine Palms, and Joshua Tree areas for under $100,000, we also do owner financing, meaning the rates are much more favorable than that of banks and other lending institutions. If land is what you are looking for, there are plenty of properties ready to build on with power and capacity for water under $50,000 like this property on Two Mile Road.
Instead of falling headfirst into the California housing demand and overpaying like everyone else, use it to your advantage and have the foresight to invest and reap the rewards in the future.
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