Actually, the AV has a population of close to 500, 000. Believe it or not. Palmdale and Lancaster have close to 150,000 each, and then add in the populations of all the outlying area towns and cities. We have viable commuting options here and have worked diligently to re-structure our jobs base since the early 1990's when the cold war ended and we were heavily involved in the Aerospace Industry. In short, it isn't the same place it has been. Yes, we have had our share of economic issues, but we continue to have an influx of buyers coming in from ALL over Southern and Central California.
Our home prices are quite reasonable, even in the most desirable areas. We have homes from as little as $50K up to and including multi-million dollars. I guess what I am really saying is, you should take a trip up here and see for yourself! I am part of a team of 3 professionals with backgrounds in Escrow, Lending, Finance Appraisal, and of course Real Estate. Our company has been in the Antelope Valley for the last 51 years, so I guess you could say we are area experts. We would love to be of service to you at of course no obligation or cost.
Best wishes in your search,
I was there about 10 years ago and I thought it was a ghost town. No creature was stirring, not even a mouse, and it was 4 in the afternoon. Not exactly a very appealing town, and it's too far from the big activity hubs in SoCal to be a realistic commuting/bedroom community. I'd pass on Lancaster as well.
What sort of investing interests you? Shopping malls, single family homes, industrial space, etc. I've referenced the city's redevelopment department, a great resource for finding what financial incentives might be available for investors.
Lancaster is a major hub for transportation, and is still transitioning for a defense base to other industries. The relatively inexpensive land has allowed for a great deal of development, so at the moment there is a lot of inventory.
The Antelope Valley Multiple Listing Service currently shows:
41 income properties available
1,521 Residential listings for sale
So it's a buyer's market in housing, a great time to buy when others need to sell.
This has been a broad overview, hope that it is helpful.
Most of the homes here you can have an average of 10-15% ROI. There are homes in distress just as everywhere else in the country. A lot of short sales are going on and the higher end investors are purchasing those mostly for rentals too. Of course there is also an equal amount of investors purchasing to fix up and resale too.
Please feel free to contact me if you are interested in the area and would like to work with an agent that not only lives in the area, but was raised here too.
Robert "Tony" Haven
That is quite vague.
If you are talking 3 Bedroom homes to buy and rent them out I think any area is so long as the market is not flooded with other items you have.
Do your research to se it it is good for you.
Harold Sharpe - Broker
So Cal Homes Realty
California Department of Real Estate Broker License # 01312992
I eventually found myself avoiding most people to eliminate overmuch drama in my life. There are racists about yes, and there are more enlightened folks about as well...we have to make change by being good examples in our towns. Eventually I found particular ways to begin to be social again. I go to many parks and the library, as well as enjoying " the new" downtown Lancaster. There are a few nice shops and resturants I now frequent. I found that one must truely embrace the ideal to "Bloom Where You Are Planted" if you hope to see the natural beauty of a high desert town like Lancaster. Crime rates are falling, the area has it's problems with needing more outlets for youth, so that they do not embrace gang activity which is all over America at this point in history. You can absolutely buy a home here without being concerned that it is crime infested here in Lancaster. I had had only one incidence of vandolism in 4 1/2 years of living here. (Children were throwing rocks at my car as I passed by a nearby apartment complex to my home, and my car was damaged).
I personally believe that ones positive mental attitude goes a long way with neighbors, and locals here. You usually will get "what you put out" in any circumstance so, if you do buy, bring on your positive approach to living here! ;~} (Please) because no matter where you buy a home....negativity will pretty much not be welcom behavior Just a positive outlook and desire to be a peaceful warrior in the midst of some ignorance (which is all over) is all that is necessary to be able to make it in "anytown" America.
I would stress to become involved in the area in some way to improve things for yourself and others as a very healthy outlet and activity. Once you develop healthy routines, all towns are about the same. Believe me, I have moved 45 times in 49 years...and YOU are the most important equasion in any relocation!
With the approximate average home price in the A.V. at $125,000. and interest rates below 5%, Home Buyer's can purchase a home with a lower monthly debt service then a comparable rental property.
Right now is a GREAT time to buy!!