You're probably speaking in comparison to the San Jose area, and the main reason is there simply is no more room to build. Supply and demand.
If you want to buy a new home in San Jose, you simply buy a new home, or buy lot on the outskirts, and build.
To do the same thing in Burlingame, San Mateo, Palo Alto, you have to buy an old home, tear it down, and build a new one. Very costly endeavor.
That being said, whenever prices get too expensive inside San Jose, they can always build outwards. Very few places in San Mateo County are that way, most the towns are already built to capacity. - A few minutes ago
Joe, These contacts up here in Redding, all operate statewide. They are all excellent sources with years of experience.
Wachovia Mortgage- Doug Phelps 530-921-4993
Redding Bank of Commerce Mortgage - Noah Richardson 530-227-8243
Guild Mortgage - Vicky Spiva 530-945-0484
Casey Investments - Roger Casey 530-209-3443
Good Luck! - A few minutes ago
Local Realtors tend to be very knowledgable of things going on in their own backyard: growing industires, schools, churches, hospitals, local activities, etc. A lot of times they can get you situated in a rental until you're ready to buy. - A few hours ago
If that is where you want to invest, talk with people in their respective City Planning Departments, about any large commercial projects about to get underway (1-2 years). A lot of times, home values will jump in neighborhoods where these types of developments occur. If you're thinking long term value, there are plenty of good deals out there in this market. Good Luck! - A few hours ago
Real Estate is always a good invesment if you're thinking long term, 5-10yrs. Prices may come down over time, but if inflation keeps going up, the interest rates are likely to follow. What you'll save in purchase price, you might end up paying over time in interest.
Have you thought about investing in other parts of California? The Shasta area is very afordable, and always has a large flux of buyers from the Bay Area and Sacramento. Check out ShastaRealty.info if you're ever curious how far the dollar goes up here. Good Luck. - A few hours ago
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