What is attracting California and west coast folks to DFW? (Dallas: vacation home, subdivisions)

[DWong]

Originally Posted by socketz

I couldn't of said this better myself.

I go away for a week and come back and there continues to be bickering about the obvious. 35 page thread....incredible.

I think it comes down to "if you like TX and it offers what you need from your life, then by all means live there" Who cares what other people think.

Once you try to justify the decision, it only becomes more obvious why places like CA carry a premium.

It's a free market and things will cost what people are willing to pay for them. People are willing to pay x for something as opposed to y because x offers them more of a certain characteristic[s] that they find desirable and more appropriate based on their wants/needs from life. This is not to say that y is not also a good choice. Just a different one.

Excellent point! I guess people in DFW pay big bucks to live in highland park area or the university area for a good reason. However, would someone pay 750k to live in a 2,500 sq foot home w/ avg build quality and little to land land anywhere in DFW burbs in the newer subdivision homes? Probably not - would they at 200k - sure. In CA, people pay that much bc they can. Hey regardless of how much our homes have declined or slow sales are... the cost of a home in 4/3 2,500 sq feet is still well over the 600k region (and that's non-coastal). I guess another thing to account for in CA, is all-though our median income is not much higher than DFW why do our homes have such a high price tag? For one - rentals - overwhelming majority of homes in SoCal are rentals, from high end to low end, most older areas the rental rate is 80%. 2nd, people that live in exclusive areas throw down big $$$. Why it is that Beverly hills the median income for a home owner is 120k yet the median cost of a homes is close to 1.5 million (and many of those homes are small). Inheritance, lotto winners, old money, entertainers who at once earned alot of $$$, quick rich people throwing down big cash and have a low or no mortgage happens here all the time. Just interesting that the numbers don't add up, how the median salary and median cost of a home are far from eachother. So keeping those 2 factors in mind, that is how many find a way to live here. And the prop tax on a 2 million dollar home is at whatever you bought it for. So a home that cost 500k is 5 thousand a year.... you don't need to make much to pay for that.....

[sheri257]

Originally Posted by DWong

... the cost of a home in 4/3 2,500 sq feet is still well over the 600k region (and that's non-coastal).

Uh ... have you checked values lately? Obviously it depends on the location but, there's plenty of newer homes at that size for half the cost. If you go further inland, it gets even cheaper .... like Texas cheap.

You really need to look at the latest sales data because prices have crashed quite a bit ... not everywhere but in many places.

[DWong]

Originally Posted by sheri257

Uh ... have you checked values lately? Obviously it depends on the location but, there's plenty of newer homes at that size for half the cost. If you go further inland, it gets even cheaper .... like Texas cheap.

You really need to look at the latest sales data because prices have crashed quite a bit ... not everywhere but in many places.

I live near one of the few newer developments in SD and the prices are down, but still well over 600k for a home approaching 3,000 sq ft. And I'm staying within the major metro areas in nice neighborhoods as well. The criteria I"m using is newer or remodeled, 15 miles from the major part of city and good neighborhood. The argument I get from alot of Texans is that big nice new homes don't exist in CA in good areas. Well, sure they do - just for around 1 million. I check many websites almost daily as we are in the process of searching for a home of that size. With kids in the near future, we're gonna need an extra bedroom or 2 and a little more sq footage.

I had a pretty heated argument w another poster on here about finding home w/in 45 miles of disneyland for about the same price. I found a new home in Lake Elsinore for 250k a large (by SoCal standards). You should have seen the venom thrown at me how insignificant that area is and demographic comparison. (all-though I never was asked to find similar demographics).
Oh yes, further inland, riverside and San Bernard counties are only about 20% higher than TX prices, however the size of home and lot are not comparable. Then w/ the difference in prop tax it is almost the same.

400k-500k prices are still the norm in Riverside/San Bernard for 3,500 sq ft and they are far less desirable than anywhere in SoCal.

[sheri257]

I'm not arguing that California will ever get as cheap as Texas but, Cali prices aren't nearly as bad as you say.

The average Southern California home price in April was $385K. In San Bernardino county it was $265K. Riverside ... $295K.

Southland home sales still ultra-low; median price slips again

As for me personally, I'm picking up a two year old, 2200 square foot home for $300K in Monterey County. Most of the 2200-2400 square foot newer homes that were built two years ago and sold for $550-600K back then are now selling for $300K in this particular area.

[DWong]

Originally Posted by sheri257

I'm not arguing that California will ever get as cheap as Texas but, prices aren't nearly as bad as you say.

The average Southern California home price in April was $385K. In San Bernardino county it was $265K. Riverside ... $295K.

Southland home sales still ultra-low; median price slips again

As for me personally, I'm picking up a two year old, 2200 square foot home for $300K in Monterey County. Most of the 2200-2400 square foot newer homes that were built two years ago and sold for $550-600K back then are now selling for $300K in this particular area.

Oh no worries. I hear ya. I was saying for homes of good size. Many Texans shoot venom at me bc I can't find a home of similar size or lot for the price tag- and I'm not going to. SoCal price, at 385 well that's median not avg. The big thing being pushed now in SoCal, esp LA/OC/SD are condos. No room for houses anywhere, so condo's make up for a good portion of sells now. 1 beds are in the 200k and 2 beds mid 300's. Riverside and San Bernard counties are huge too going further out the prices there get very affordable (but again, not quite giving you the CA experience). If you look at Ontario, Rancho Cucamonga, Ontario, still within driving to LA - the prices there are in the good 500k range. I know bc our friend just moved there.

But again, 3,500 sq ft 5/3 2 car garage within 25 miles to metro area is well over 600k probably closer to a million. In DFW - what's the going rate.... 200k?

[johnmarg]

It is impossible to get around without AC. Dont let anyone tell u otherwise. I recall being in the pool even at night and getting out and 10 minutes later, we were completely dry and sweating from the heat and humidity. Its not possible to get used to it. Can u get used to living in an oven?

[imaterry78259]

San Antonio resemble SoCal more than any other city in Texas and this is why it is No 1 place for Calis to settle

[Soccersupporter]

Originally Posted by Canine*Castle

California may not be feasible for one starting out unless he /she has lots of money to begin with, but millions of people have lived there all their lives and can still live there in spite of the super high housing prices. I bought a house there in the 1970s for $35,000 and only wish I still owned it now. Selling it was one of the biggest mistakes in my life. Since housing is so unaffordable in CA, maybe the population will decrease in time. That would be nice.

And as one poster put it, "California sucks." Have you ever lived there? If you have and you still think it "sucks" (whatever that means), then that's your opinion. If you haven't lived there, then you've not a clue.

I would agree that it's not as pleasant as it was many years ago due to the number of illegals, etc. but that seems to be the norm in all the states bordering Mexico and even beyond them. Texas is full of them too, and it isn't getting any better, and I doubt that it will.

We lived in SoCal all our lives. We had a house in Irvine in the Woodbridge Village one of the premier HOAs in the country. Our house payment with taxes, insurance, HOA fees, etc. was less than a 1 bedroom apartment. My wife and I had new cars, 2005 Ford Expedition, 2007 Honda Accord. We were not rich but had no problems paying our bills. We left for Keller, TX. Most people would have been envious of us living in Irvine and would probably wonder why the heck did we move.

I will tell you why we moved from a financial standpoint. We now have a 3350 sq. ft. home on a 1/4 acre lot paid for, a house that has all brand new furniture, very little in monthly bills and a big chunk of money left over that is now making money for us every month. That was good enough a reason for us to move, that and being grandparents living 15 minutes from our granddaughter versus 1500 miles.

As far as things to do, we have not even scratched the surface of things to do and now we have the money to do them. When I was out at the Indy races at Texas Motor Speedway last weekend trying to talk to my 14 year old over the noise of the Indy cars, enjoying the shorts and t-shirt weather at 9:00pm, I thought this is what life should be about every day.
Need I say more?

[Soccersupporter]

Originally Posted by CalGal953

For a lot of us Californians who moved here because of factors beyond our control and still miss our state a lot (I know I am far from the only one) are even worse off, especially since the good-paying jobs are dwindling. We're essentially being punished for something we did not do.

Well for those of you that did not do your homework and moved here for the wrong reason, well I have no sympathy for you. Those of you that feel that way should get out of Dodge ASAP. We don't need negative ex-Californians giving us ex-Californians that love it here a bad rep. Adiós!

[Soccersupporter]

Originally Posted by DWong

Thank you! If pay was equal in CA and TX and the homes were too.... this threat would be non-existent. A better measure of this is where people vacation. Must I even touch on how many Texans are in CA now on vacation? I worked in hotels while in college, Texans vacationing here is pretty much the only driving force in our economy at this point. And not many Californians going the other way and for reasons I sure they have.
Again, true, in CA we have become very anti big home developments. That's another reason for the low supply. Go on line or drive through SoCAl - few and far between any large subdivisions. Who wants to see nice coastline and hills disturbed w/ homes and walmarts? Where are the new big homes in CA being built - far from anything desirable or attractive to say the least. Hey throw a home up anywhere in DFW, the land isn't much different and you're not blocking anyone's view.

There are no big homes in CA compared to TX unless they are in the 2+ million dollar range. It has nothing to do with ruining the landsacpe. Look at Newport Coast. I know you would like to make it look that way to bolster your position but is is just another smokescreen on your part.

IDX Search (http://www.isocal.idxnetwork.com/300849w/index.php?main=searchresults&CITY=NC&pt=ANY&id_fro m=Ijt22R7523sbNm8ckIk9 - broken link)

As far as large developments, large subdivisions go, your really need to get out of the house more often, they are all over SoCal.

Here is an interesting take on California housing. This is another good reason people are leaving CA in droves.

www.anthonydowns.com/calslums.PDF