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Old 11-23-2019, 09:21 AM
 
6,904 posts, read 8,271,145 times
Reputation: 3877

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Quote:
Originally Posted by Finper View Post
Because we're talking about Apple moving out of state....duh
Apple Operations has been in the same location in the City of Sacramento since the early 90's, never left, they've done various things in Sacramento from Apple Support to building desktops as well as logistics/warehousing.

Apple also owns the land and buildings at its Sacramento Operations, sort of a rare thing with Apple, they usually lease.

And Apple is currently expanding and improving the Sacramento location. And since the 90's the Sacramento location has always been rumored to be a "secret R/D" location that Apple has always been hush hush about.

They predicated a housing crash for 2019, didn't happen in Sacramento.
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Old 11-24-2019, 05:23 AM
 
Location: Coastal San Diego
5,024 posts, read 7,574,371 times
Reputation: 4055
Quote:
Originally Posted by Chimérique View Post
They predicated a housing crash for 2019, didn't happen in Sacramento.
Prices are pretty much rock-solid here in San Diego. And we don't have many major employers. Qualcomm is about it. San Diego is the city of venture capital backed start-ups. Businesses are built to sell.

Currently we have very little housing inventory. At least one Realtor knocks on my door at dinnertime every week. They just leave flyers, letters, and business cards at my door during the day.

We all think prices are going to crash but then a neighbor who lists their house for sale gets into a bidding war. And prices go higher. It's crazy.

Almost forgot... what really seems to be driving housing prices upward is rent prices. Young families can't afford to buy in San Diego, so they rent. A 60 year old, cookie-cutter, 3bd/2ba house about 5 miles from the Pacific Ocean now rents for about $4000 a month. That same house rented for $3200 a year or so ago. This new market rent price causes investors to pay more for a house.

Last edited by cruitr; 11-24-2019 at 05:40 AM..
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Old 11-24-2019, 07:44 AM
 
Location: Sylmar, a part of Los Angeles
8,342 posts, read 6,428,879 times
Reputation: 17463
I live in a small old houses neighborhood. I get 2 letters a week wanting to buy my house for cash. I assume they are from developers who hope to get houses for a bargain price and fix up and sell for a profit.
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Old 11-24-2019, 09:09 AM
 
Location: SF Bay Area
2,203 posts, read 3,360,232 times
Reputation: 2845
Quote:
Originally Posted by V8 Vega View Post
I get 2 letters a week wanting to buy my house for cash. I assume they are from developers who hope to get houses for a bargain price and fix up and sell for a profit.
I get letters and phone calls regularly for my home and apartment building. My next door neighbor decided to sell and responded back to a realtor who wanted to buy her property, all cash. She came out with 1.7M and isn't going to have to go through the moving out, staging home crap. She just bought another home and will be moving soon.

Another neighbor responded back to an all cash offer several years ago and it worked out well for her, too. Neither of these homes would be considered fixer-uppers.
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Old 11-24-2019, 09:48 AM
 
6,904 posts, read 8,271,145 times
Reputation: 3877
Quote:
Originally Posted by cruitr View Post
Prices are pretty much rock-solid here in San Diego. And we don't have many major employers. Qualcomm is about it. San Diego is the city of venture capital backed start-ups. Businesses are built to sell.

Currently we have very little housing inventory. At least one Realtor knocks on my door at dinnertime every week. They just leave flyers, letters, and business cards at my door during the day.

We all think prices are going to crash but then a neighbor who lists their house for sale gets into a bidding war. And prices go higher. It's crazy.

Almost forgot... what really seems to be driving housing prices upward is rent prices. Young families can't afford to buy in San Diego, so they rent. A 60 year old, cookie-cutter, 3bd/2ba house about 5 miles from the Pacific Ocean now rents for about $4000 a month. That same house rented for $3200 a year or so ago. This new market rent price causes investors to pay more for a house.
Here's a link regarding Apple Operations in Sacramento - They are in the Laguana Area of Sacramento and the City of Elk Grove which is in South Sacramento County. 5,000 employees. Currently, Apple's Elk Grove campus has operational functions, information technology positions, as well as customer support, Apple Care and a repair and refurbishment operation. Elk Grove has always been a logistics, warehouse and distribution location for the company.

https://www.bizjournals.com/sacramen...elk-grove.html

The Sacramento Area is still affordable for a lot of the middle class, unlike SD, Bay Area and much of LA.
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Old 11-24-2019, 11:38 PM
 
Location: Coastal San Diego
5,024 posts, read 7,574,371 times
Reputation: 4055
Quote:
Originally Posted by Chimérique View Post
Here's a link regarding Apple Operations in Sacramento - They are in the Laguana Area of Sacramento and the City of Elk Grove which is in South Sacramento County. 5,000 employees. Currently, Apple's Elk Grove campus has operational functions, information technology positions, as well as customer support, Apple Care and a repair and refurbishment operation. Elk Grove has always been a logistics, warehouse and distribution location for the company.

https://www.bizjournals.com/sacramen...elk-grove.html

The Sacramento Area is still affordable for a lot of the middle class, unlike SD, Bay Area and much of LA.
Yes, in 2018 we looked at retirement communities from Folsom to Lincoln. Beautiful properties. For CA, prices seemed relatively reasonable. Sacramento also has the best quality roads. Very typical for a state capital. Our roads suck. Some tourists think San Diego is a 3rd world country when it comes to roads. We decided to 'age in place' cheaply because of the nice 12-month weather. San Diego is like Hotel California. You lower your standard of living but you can't leave.
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Old 11-25-2019, 07:12 AM
 
585 posts, read 635,018 times
Reputation: 1614
Well, you CAN leave Hotel California, you can just never afford to come back. I have seen that with more than one person: Sold high, moved elsewhere. Short time later wanted back. The high was even higher and couldn't afford to come back to their old neighborhood.

The secret to California real estate, and making money off it, is easy: Buy as soon as you can afford, and do it repeatedly.

I know a lady in a simple public servant job. She would work overtime like gangbusters, and then when she had enough for a down payment, she'd buy a duplex or little house in the Culver City or Inglewood area. Move in tenants. Start working more overtime. Repeated at least 10x. By the end of her 30 year civil servant job, she had them in various states of being paid off, and the tenants making most of the payments for her. Plus she had her retirement income (But no SS due to WEP).

I wish I was as smart as her and did the same thing
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Old 12-02-2019, 12:40 PM
 
1,355 posts, read 1,945,860 times
Reputation: 904
I do not think home prices will crash too dramatically like before in 2008, since we are now suffering with overpopulation, lack of housing supply, and more bidders than available supply. I would say these homes will never go below $180,000 in Inland Empire area ever again in a lifetime.
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Old 12-04-2019, 01:14 PM
 
527 posts, read 422,880 times
Reputation: 466
Quote:
Originally Posted by waltchan View Post
I do not think home prices will crash too dramatically like before in 2008, since we are now suffering with overpopulation, lack of housing supply, and more bidders than available supply. I would say these homes will never go below $180,000 in Inland Empire area ever again in a lifetime.
As soon as this overpopulation has the jobs to keep the mortgage payments flowing.
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Old 12-06-2019, 11:13 PM
 
28,115 posts, read 63,666,290 times
Reputation: 23268
Hard to predict as there are so many variables...

When prices crashed many said it would not come back in a lifetime and yet, in 7 years a lot of property has doubled... 2012 to 2019.

2009-12 was strange in that highway traffic plummeted... no huge commute nightmares... vacant homes on every street in my city, etc... where did all these people go?

If there are jobs... people will come...

That said... Real Estate has always been cyclical... 25% resets happen...

Many simply abandoned their mortgages as a "Smart" thing to do when the market collapsed... for some they have never been able to get back in.
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