6 Things That Nobody Told You about the Californian Real Estate Market
If you were to follow your strongest desire blindly, you would probably hop on a plane, leave your state and move to Los Angeles for good. As a matter of fact, you would gladly relocate to San Bernardino, San Francisco, San Diego or any other Californian city that is fully compatible with your bold goals and luxurious aspirations.
6 Things That You Should Know about the Real Estate Market before Moving to California
We get it: you are craving for an upgrade. You want the very best in terms of housing and you want it now. However, before making any changes that would inevitably impact your lifestyle, you should start by getting familiar with the Californian real estate market. Here are six key aspects that you should grasp and analyze before your big move.
- The Real Estate Market Is Currently Gaining Extra Strength. According to a recent report made public by PropertyRadar, condominium and single-family home sales have recorded a 31% increase in March, compared to the numbers revealed in February. This appears to be the most significant spring increase reported in the last three years.
- The Number of Home Sales Is Rising. According to the same source, the median home prices revealed a substantial growth in no less than 17 the biggest and most prominent Californian counties. All these numbers indicate the fact that the Californian real estate market is gradually recovering its strength, as more individuals seem determined to buy or rent a new roof over their heads in this state.
- The California Drought Isn’t Putting Buyers and Tenants on the Run. Tempting interest rates and mild, friendly winter weather are only two of the reasons why more and more prospects are interested in for rent or for sale pieces of real estate based in Cali. As Housingwire points out, the feared California drought that has dominated headlines for quite some time now isn’t perceived as a major threat by people who are interested in what the Californian real estate market has to offer. As a matter of fact, according to the same source, it appears that the draught hasn’t affected the market in any way so far. There are millions of other aspects that usually influence the buying/renting decision, and this sunny state definitely manages to qualify as a main target for home seekers due to its mix of unique attributes, including plenty of attractive job opportunities, great views, multiple climates, quality entertainment and the mirage of the Californian dream.
- Renting Is Still the Best Solution for Those Who Are Intimidated by Prohibitive Price Tags. Can’t afford to buy a new home in Cali? This is perfectly understandable. Lots of other people can relate to your situation, especially considering the fact that some of the most sought-after cities aren’t exactly listed as the most welcoming environments for non-millionaires. So if you don’t have enough money in your bank account, don’t want to deal with mortgage payments or prefer the flexibility and convenience offered by a rental, should you start a new chapter in Cali as a first-time tenant? The final choice is all yours, but do keep in mind that renting is a cost-effective option for most candidates interested in a fresh start in this state. Recent statistics presented by Zillow highlight the fact that the median rent price in Cali is estimated at $2,000 per month, while the median home value exceeds $441,000. Naturally, densely populated cities offer pricy accommodation options that may be way out of your league. For instance, the median rent price in San Francisco has recently reached a new record value after climbing to $4,225 per month. This doesn’t mean that only the insanely rich people can afford to become tenants in Cali. One could easily find plenty of decently priced accommodation options in less crowded cities. For example, the median rental rate is in the $760 in Fresno. Keep these differences in mind before creating a list of cities where you would like to live. Do the math, set your priorities straight, analyze your short and long-term goals and find the real estate deals that make more sense to you and your family.
- Buying a Home in California’s Best-Loved Coastal Areas Is Still a Challenge. Here’s an important aspect that you shouldn’t neglect during your home hunt: the recent surge in sales has also pushed home prices considerably higher, especially in coastal areas where the competition for pricy slices of real estate was already fierce. Median income buyers can no longer hope to get their hands on the keys to a median priced Californian home located in these regions. Again, this new reality compels prospects to explore the many benefits of renting a house in California.
- You Can Always Score a Good Deal by Counting on the Insight of a Californian Apartment Finder. Assuming that you can’t afford to invest millions in a nice oceanfront property, ask yourself the following question: would you be able to rent one and fulfill your dream without going bankrupt? You can discover the most accurate answer to this question by checking out listings delivered by a trusted apartment finder.
Use a World-Class Apartment Finding Service to Simplify Your Upcoming House Hunt
Looking for a small, inexpensive apartment or a lavishing mansion in California? Now you can identify, compare and rent your favorite real estate slices the easy way while counting on the unconditional support of California’s top-rated apartment finding service. Apartment Hunterz ensures a flawless connection between tenants and landlords and enables prospects to monitor, assess and save the listings that match their selection criteria. By guaranteeing access to a wide range of user-friendly tools, Apartment Hunterz simplifies the work of any home seeker and turns the renting process into a wonderful, hassle-free success story. Put this service to the test and find out how it could help you find the ideal home in less than a week.