Hi Steve,

Hows the search? Are you having luck or have you made a decision? If you have funds to invest, Lancaster is a great place. Yes, you can purchase in Venice or other areas, as Andrew Jones (below) states. However, determine what your goals are. I agree, yes, homes do appreciate faster in the city than they do out here in Palmdale or Lancaster (I am a San Fernando Valley native, and work all the local markets), however, if your goal is to build your portfolio, Lancaster and Palmdale are excellent opportunities. Especially now.

You can purchase one home in the city and rent it out. You may be able to purchase (depending on your liquid cash or lender) multiple homes in Lancaster and Palmdale, collect a positive cash flow from mulitiple rentals, using those monies to reinvest in other properties. When prices rise again (and they will) you can then decide to keep the properties or liquidate and move on to other investments.

Good luck!

Marina Penrose
Realtor, ReMax
marinapenrose@yahoo.com
Serving San Fernando, Santa Clarita and Antelope Valley areas!

The demand for rentals is high in this market.
Jennifer Anderson, Realtor
Century 21 Doug Anderson& Assoc., Inc.
661-609-4434

Hi Steve,

Why Landcaster when there are many investment opportunities that are much better, and much closer. There are tons of homes for under $200k in the San Fernando Valley that will appreciate far more than homes in Landcaster which has historically performed poorly and has plenty of room for expansion. Even better, you can get great homes in the prime-time, L.A. basin proper for $250k that pencil out really well. I wrote a blog about these areas called 'The Most Affordable Homes in Los Angeles: $500k and Less ' which may help you some.

http://www.trulia.com/blog/AJonesREALTOR/2009/07/the_most_af…

You can also get some really good investment properties in Long beach and Southbay, as well as homes in Oxnard and Port Hueneme that are close to the ocean have a big potential for appreciation.

Finally, if you're looking for fire-sale prices, don't go all the way to Landcaster-- go to Las Vegas. you get mainstram, metropolitan homes for what CNN recently estimated as 40% under-value. Here's another blog about homes on the Strip that you can get for around $50 to $150k right now.

http://www.trulia.com/blog/AJonesREALTOR/2009/07/old_las_veg…

Good Luck!

Hi Steve,

I may have a naive attitude about our rental market, BUT, with all the foreclosures we have had lately, these families need places to live. The foreclosure is not necessarily tied to job losses, so these people are still working in the Antelope Valley, still have kids who go to school here, etc.

If you'd like to speak directly to a local property manager, I have two I can refer you too, just let me know via my contact info below. If I can help you with your rental search, please let me know and I'll be happy to assist you with that as well.

Have a great day.

Tamara Stoebe, REALTOR, QSC, e-PRO
DRE License #01827461
TROTH GMAC REALTORS
1801 W. Ave. K
Lancaster, CA 93534
Cell: (661) 466-6849
Fax: (661) 422-3006
E-mail: Tamara@TamaraStoebe.com
Website: http://www.TamaraStoebe.com

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