those who wanted to move to CA (San Diego, Fresno: 2009, how much)

[JetJockey]

I think it's funny reading all these people who say you MUST have a 6 figure salary and be independently wealthy to move to CA.... you do know that the whole state isn't LA and San Francisco, right??? Me and my boyfriend together don't quite hit 50,000 a year and we live in a 3 bedroom house with a big backyard that I can hear the ocean from. We buy the majority of our foods from an organic co-op that discounts food if you work in the fields a couple of hours a month, and the rest we get from Farmers Markets for a LOT less than grocery store prices.

We have money to travel (going back to Germany for Oktoberfest next year!) and we live quite comfortably where we're at. I only have a BA and the boyfriend is working on his BS, so no graduate degrees here.

Sure, if you're expecting a 5 bedroom McMansion on 2 acres that sits on the beach you need that 200k + salary, but if you're a normal person who lives simply, California is the place to do it. At least here we can grow a garden year round

[Quatermass]

Originally Posted by Happy Cells

There are tons of great places to live in California.
Life there is still great, as is the weather.

Cali will turn around as it always has and be better than it was before. I'd say move there NOW while the housing market is a little softer....if you wait....it'll have already rebounded and you won’t be able to get in at all.....

Move to California.....the Golden State still shines!!!

Sometimes I think these boards are filled with plants from the Chamber of Commerce....

[jc76]

Originally Posted by Happy Cells

There are tons of great places to live in California.
Life there is still great, as is the weather.

Cali will turn around as it always has and be better than it was before. I'd say move there NOW while the housing market is a little softer....if you wait....it'll have already rebounded and you won’t be able to get in at all.....

Move to California.....the Golden State still shines!!!

Trust me happy cells I would love to do that, only problem is that the house my mom left us when she died has plummeted in value 5 years ago was worth 125K, now it's only worth ablout 70K and that is split 3 ways with my brothers and I, so I don't think 23K is enough for a down payment on a house in a decent area of California, actually I KNOW it's not enough so I'll be putting off "the dream" for even longer now, but thanks for your motivation

[Puddy4LyF]

Originally Posted by jc76

so I don't think 23K is enough for a down payment on a house in a decent area of California, actually I KNOW it's not enough so I'll be putting off "the dream" for even longer now, but thanks for your motivation

The extreme Bay Area or L.A., no... but California, in general? Of course. 23,000 is enough to put nearly 15% down on a nice house in the upper 100's in the hills of Solano County, which is more expensive than the Central Valley and elsewhere. If you're fine with a little bit more urban living 23,000 will be enough to put 20-25% down on a nice, adobe home in a decent area of Vallejo or Fairfield -- not quite my thing, but it might be someone else's. I'd prefer the 10-15% down on a nice home in the hills, myself.

Or, if you and your siblings aren't silly or poor with your money, you wait until the market rebounds and your mother's house is back up well into the 6-figures before you even contemplate selling and splitting the profit. Why on earth would you sell low? Rent it out and split the proceeds amongst the three and have whoever is the most excited to move to CA live in the house, pay the other two siblings a small share of rent and then sell and split the proceeds? I'm sure there are better options than simply selling it now.

[parilee75]

Originally Posted by JetJockey

I think it's funny reading all these people who say you MUST have a 6 figure salary and be independently wealthy to move to CA.... you do know that the whole state isn't LA and San Francisco, right??? Me and my boyfriend together don't quite hit 50,000 a year and we live in a 3 bedroom house with a big backyard that I can hear the ocean from. We buy the majority of our foods from an organic co-op that discounts food if you work in the fields a couple of hours a month, and the rest we get from Farmers Markets for a LOT less than grocery store prices.

We have money to travel (going back to Germany for Oktoberfest next year!) and we live quite comfortably where we're at. I only have a BA and the boyfriend is working on his BS, so no graduate degrees here.

Sure, if you're expecting a 5 bedroom McMansion on 2 acres that sits on the beach you need that 200k + salary, but if you're a normal person who lives simply, California is the place to do it. At least here we can grow a garden year round

I agree! We were living very comfortably in Ukiah, CA (Mendocino County) until 2 years ago when we decided to move to NM to be near my parents. We have since decided that we will be moving back, this time to the Mckinlyville area (Humboldt). We are not going to let anything stop us! We are Californian born and bred, it's in our bones, and we know from experience it can be tough, but not impossible.

[jc76]

Originally Posted by Puddy4LyF

The extreme Bay Area or L.A., no... but California, in general? Of course. 23,000 is enough to put nearly 15% down on a nice house in the upper 100's in the hills of Solano County, which is more expensive than the Central Valley and elsewhere. If you're fine with a little bit more urban living 23,000 will be enough to put 20-25% down on a nice, adobe home in a decent area of Vallejo or Fairfield -- not quite my thing, but it might be someone else's. I'd prefer the 10-15% down on a nice home in the hills, myself.

Or, if you and your siblings aren't silly or poor with your money, you wait until the market rebounds and your mother's house is back up well into the 6-figures before you even contemplate selling and splitting the profit. Why on earth would you sell low? Rent it out and split the proceeds amongst the three and have whoever is the most excited to move to CA live in the house, pay the other two siblings a small share of rent and then sell and split the proceeds? I'm sure there are better options than simply selling it now.

No were not selling now, no way, my mom worked to hard for this house to just let some lowballing lowlife steal it out from under us. Not happening. It may be a "buyers market" but these "buyers" can think again if they think we are gonna give them our house, screw that. We will wait til the market goes up even if its 20 years.

[Charles]

Originally Posted by jc76

No were not selling now, no way, my mom worked to hard for this house to just let some lowballing lowlife steal it out from under us. Not happening. It may be a "buyers market" but these "buyers" can think again if they think we are gonna give them our house, screw that. We will wait til the market goes up even if its 20 years.

You may be correct, or you might be making a big mistake.

What I am reading is pure emotion possibly overcoming rational thought. In the business world decisions on sunk costs are made depending on that the right thing to do is from this point forward. Sometimes it is better to cut your losses if there is a better opportunity elsewhere.

[Puddy4LyF]

Originally Posted by Charles

You may be correct, or you might be making a big mistake.

What I am reading is pure emotion possibly overcoming rational thought. In the business world decisions on sunk costs are made depending on that the right thing to do is from this point forward. Sometimes it is better to cut your losses if there is a better opportunity elsewhere.

One thing is for sure - don't listen to this guy. You don't sell low. You're right to hold on to it. Where is it, if I may ask? Location pretty much drives the market out here. You may have a very valuable location in 20 years - you just never know. But you definitely should hold on to it. Good call.

[jc76]

Originally Posted by Puddy4LyF

One thing is for sure - don't listen to this guy. You don't sell low. You're right to hold on to it. Where is it, if I may ask? Location pretty much drives the market out here. You may have a very valuable location in 20 years - you just never know. But you definitely should hold on to it. Good call.

The house is in INDIANA, not California. When I get my 1/3 of the sale on the house I want to possibly use it for a down payment on a house somewhere in CA, possibly Fresno because it's cheap.
Charles, thanks for your logic on this and I understand what your saying, but really I am not letting emotion over ride my business mind. The house was 125K 5 years ago now its around 70K, that means after getting lowballed and paying all the fees we might get 60K, split 3 ways that's 20K each...hardly worth giving up our home, a place we can always call OURS, that's all paid off to each get a measliy 20 thou. 20K goes quick, then our "safety net" home that my mom worked 18 years for is also gone, that all I'm saying. Not a good idea til the market jumps. We each agreed we need to walk away with 30K at lowest.

[GLS]

Originally Posted by jc76

The house is in INDIANA, not California. When I get my 1/3 of the sale on the house I want to possibly use it for a down payment on a house somewhere in CA, possibly Fresno because it's cheap.
Charles, thanks for your logic on this and I understand what your saying, but really I am not letting emotion over ride my business mind. The house was 125K 5 years ago now its around 70K, that means after getting lowballed and paying all the fees we might get 60K, split 3 ways that's 20K each...hardly worth giving up our home, a place we can always call OURS, that's all paid off to each get a measliy 20 thou. 20K goes quick, then our "safety net" home that my mom worked 18 years for is also gone, that all I'm saying. Not a good idea til the market jumps. We each agreed we need to walk away with 30K at lowest.

Your feelings, both understandable and justifiable, are shared by millions across the US. However, remember that in the past, usually when the market goes back up, it will be reflected by increases in the housing in California. A 44% increase in value of your house from 70K back to 125K in Indiana, may be matched by a 200K to 300k increase in California. Obviously this is a generalization that varies by locale and pockets of growth. However, the point is, it will be difficult to "sell high" in Indiana, and "buy low" in California, if you don't have the cash to rent Indiana, but still have the down payment to buy now in California. Good luck whatever you do.