Property value inflation in CA
12-05-2004, 10:43 AM
#1
Racer
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Location: SoCal
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Property value inflation in CA
I signed the papers in May '04 to build a house for ~$145/sq ft. The house is about finished now and the houses in this area are selling for ~ $210 / sq ft. I made close to $200K on the house without even moving in yet. This is pretty common in CA due to low interest rates. However, as the dollar is being sold off, I expect some moderation to decline over next few months. This isn't exactly a good news since I can't profit from selling the house unless I decide to move out of state. Just wanted to hear from others in high realestate market on their rediculous situations.
12-05-2004, 07:15 PM
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Location: Tracy, CA
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Well, it doesn't get more ridiculous than trying to buy a home in the Bay Area. I had to end up buying in Tracy, which is technically the Central Valley. Even then, after less than two years, the value of my house went up 33 percent. 
Of course, I don't want to move away from the Bay Area, so it doesn't help me in the sense that I can't afford to move into the Bay Area because housing prices there have gone up just as much. But that tax deduction is sure nice. 
Of course, I don't want to move away from the Bay Area, so it doesn't help me in the sense that I can't afford to move into the Bay Area because housing prices there have gone up just as much. But that tax deduction is sure nice.
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