Riverside/ San Bernadino vs. Bakersfield/Fresno long term? (San Diego, San Bernardino: equity, real estate)

[doublerainbow]

I'm an LA Westside renter looking to move inland to buy a home for kids. It seems appealing to buy at a discount now but the discount can not be permanent. I would want the price of whatever home I buy to go back up in 5 years or so. That means I have to find areas with good job potential. Can you help me compare Riverside/San Bernadino to Bakersfield/Fresno?

Thanks.

[bhcompy]

Bakersfield/Fresno are more isolated and the weather is worse imho.
Riverside/San Bernardino are much closer to everything else.

Long term both places are fine, but as economic downturn turns into economic upturn, they'll restart buildout in Riverside and San Bernardino sooner than anywhere else giving you(in my opinion) a better investment. Of course I'm an amateur and could be wrong.

[Unkllars]

No, bhcompy, you're spot on with your comparison. also, Many investors speculate the inland empire stretching out more as well as the desert towards Vegas. As for the "5 years or so", be a little lenient on your "or so" and you'll come out on top. Plus having kids will send the years flying by, and before you know it, its been more than 5 years and your equity has built more than you thought it would.

If you have any questions or need pricing, feel free to contact me. Also, keep yourself informed about everything, including others' feelings on this forum. There are a lot of great users on here, just like bhcompy and that good comparison.

[Lake Conroe resident]

Neither one of these areas are going to compare to West LA but I'm sure you are already aware of that (There's are reason their less $). Both of these areas have extreme temps and they both have some of the worst air quality in the country. I don't think the Central Valley prices are going to be coming back up for a while and a matter of fact will more than likely go down for another year before bottoming. I would say that Riverslime is a better investment LONG term just because it's closer to LA...

[caligrl]

Don't know much about up north. But, I do know that San Bern county has the WORST air quality-it looks like our Desert Valley is always on fire but in reality its the smog . Riverside follows San Bern., and it does get very hot in the Summer and fall months. As for the housing market-it will go down before it blows up again. Real estate is always a gamble.

[that1guy]

The Inland Empire is a better deal since it is SIGNIFICANTLY more affluent on average than the Central Valley. There is a more middle class suburbia characteristic that is more akin to the Orange County demographic of the 1960s-1970s (cheap housing, blue collar, suburbia). The Central Valley region is more economically diverse, and in fact is the state's poorest area. The Inland Empire is far from being the poorest area, it's more around the middle economically.

With that said, the Inland Empire also has more colleges and universities that are more established. UCR is building a medical school. There is a major expansion with Cal Baptist University as well as Cal-State San Bernardino. The Claremont Colleges are pretty much in the Inland Empire (has a 909 area code). Not to mention University of Redlands, La Sierra University, and UCI (being in Orange County, but within 30-40 miles of the Inland Empire).

All this coupled with its proximity to LA, San Diego, and Orange County make the Inland Empire the next big place in California.

The Central Valley is too isolated and too economically segregated to attract the same growth as the Inland Empire. Plus, the lack of universities that are close enough to either Fresno (besides Cal State Fresno) and Bakersfield demonstrate the continued reliance on agriculture as opposed to the urbanist direction of the Inland Empire.

Hope this helps.

[uglyblackjohn]

Also take into consideration the downtown areas of Redlands and Riverside. Both offer the more eclectic mix of arts/culture which you've probably become accustomed. If you want the the cookie-cutter feel of South O.C. , these areas offer a good enough version of that too.