JessyAnne asked:
I mean it is rediculous, besides “location” why are Some areas of the coutry three time the amount of others. I was watching a show last night where a couple was looking to by their first home in San Fransico where the average home price was $750,000. That much could get you a mansion and a bently in Georgia! Can someone explain this to me…. I mean do people make more money over there or something, is there some well-kept secret I dont know about??!!! And in this case would it be better to try and sell real-estate there instead of lower housing regions??
I mean it is rediculous, besides “location” why are Some areas of the coutry three time the amount of others. I was watching a show last night where a couple was looking to by their first home in San Fransico where the average home price was $750,000. That much could get you a mansion and a bently in Georgia! Can someone explain this to me…. I mean do people make more money over there or something, is there some well-kept secret I dont know about??!!! And in this case would it be better to try and sell real-estate there instead of lower housing regions??
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Did you see Deliverence?
There is no “besides”. It’s location, location, location. Yes, per capita income is greater in San Fransico than some areas of Georgia. As far as selling real estate elsewhere…that depends on income/outgo, it’s all relative, and once again, we’re back to location. If you sell real estate in an expensive area and live in a less exclusive community, obviously your living expenses would be less.
There are many that have disillusions about how much there home is worth on the west coast. There is a an increase due to taxes, For the most part homes are way over cost hear and will be dropping.
The other big thing is they have really over inflated the market mostly due to fraud.
This web site tell how they made the bubble check it out and hope they do not do that to your local market.
I’m afraid it is mostly location. It is also true that salaries are higher in California, but certainly are in no proportion to home values. For example in the Bay Area only about 8% of the population can afford to buy a home.
I am a real estate broker in San Francisco and, yes, it is great to sell real estate here, but as a Buyer Agent, such as myself, it can also be very hard to find people who can actually afford to purchase a home here, since a starter home is already around $800k. So, in a place like this you might only make a few sales a year when you start out.