If you are like me, Southern California was the place to make money when it came to real estate. Obviously the metropolitan areas like L.A. and Hollywood were already a good place for real estate, but the outlying areas were growing, FAST!.
Just look at Temecula, that was a ranch that became THE fastest growing city in America at one point. The sheer amount of land that could be developed caused buyers from all over to begin moving in. Which helped to move the demand up followed by the prices. If you got in on the ground floor there were millions to be made.
Then the housing bubble.
Need I say more.
But the good news is that the market has been recovering. In fact the median home price, while it is not where it was, is well above the floor level that it had fallen too in the late 2000′s.
The Southern California Real Estate market is still an investor’s market. Instead of catering to developers it has become a landlord market. Which interestingly has allowed for lower level investors to pick up the slack of the market.
For instance buying a vacant 90 Acre lot along I-15 would have been a for sure profit in the late 90′s early 2000′s. Now if you buy it, what you see is what you get. However a 3 bedroom 2 bath home is a solid investment for the small time investor and well within his or her means now.
While the market may never look the same, there is still lots of money on the table with just new and more faces.