California Remains A High Value Real Estate Investment

[Ken and Ari Walker]

When you think of towns with $1-million-plus homes, tony places such as Beverly Hills, San Marino, Newport Beach and Palos Verdes Estates might come to mind. But as California housing values keep rising, some cities that until recently had reputations for working-class modesty, are joining the list of communities with median home values more than $1 million.  

The most recent additions include Placentia, Orange and Tustin in Orange County, Bonita in San Diego County and Cerritos and San Gabriel in Los Angeles County. 

Among the new cities on the list, Bonita and Tustin had the highest growth rates, each with home values jumping nearly 12% in a year, according to an analysis by real estate listing site Zillow. Given the constraints on supply and increasing demand for Southern California, the skyrocketing prices are understandable. 

California has 210 cities where the median home value is more than $1 million, representing a sizable portion of the 550 so-called “million-dollar cities” in the U.S., according to Zillow. California has more million-dollar cities than the next five states combined! California added 12 such cities to its list this year, surpassed last year only by New Jersey, which added 14 million-dollar cities.  

In California, these new cities were: Bonita, Tustin, Brea, San Gabriel, Cerritos, Orange, San Luis Obispo, Placentia, Cambria, Thousand Oaks, Pala, Pleasant Hill, Arroyo Grande, Bonsall and Cypress. California actually recorded 15 cities that vaulted into the seven-figure range, but three cities that had previously been on the list had home values drop below $1 million: Tomales, Carnelian Bay and Vernalis.  

 

No matter the consensus about doing business in California or not, these statistics show that people value this State’s beautiful real estate and as such, it continues as a good investment – as a homebuyer or an Investor!   

 

Best,   

Ken & Ari Walker - Your Direct Private Money Source   

  

Husband & Wife Team   

Phone: [phone] / Office: 1400 N. Dutton Ave #22 Santa Rosa, CA 95401  
Ken: CA DRE Broker #01858042 / NMLS #1221130  
Ari: CA DRE #01858152 / NMLS #2170867  

Bio: Ken & Ari are a husband & wife team with over 30 years of combined real estate and private money lending experience.   They like working with buyers & borrowers, as well as directly with other licensed individuals who have clients in need of fast & alternative financing, and who can benefit from Private Money mortgages. (Qualify for our financing despite DTI ratios, credit score, property condition, difficult to prove income, etc. on purchases and refinances for owner occupied & investment properties.)