WHY are Californians flocking to S.A.?

[saywhat?]

As a homeowner who bought in 2003 for a very good price and who plans to stay put for at least 15-20 years, I could care less whether the value of my home goes up or down. Except for tax appraisal purposes- big ouch there.
We also would never HELOC our home to extract any "equity" from a "rise in value" - a HELOC is a loan. Those loans have gotten a whole lot of folks in a whole lot of trouble. I digress.
As a buyer OR a seller at the present time, I would be researching what is going on in real estate from any and all sources and not rely on what is fed to us by the MSM or realtor associations. I, too, have lived through housing bubbles and busts in Texas and this one is quite a bit more mind boggling and scary. I feel very fortunate and grateful for my situation.

[Chakapu]

Originally Posted by texasdreamin

The value of my house has gone up $20k since this housing mess started. I was shocked. Maybe it is going down only in certain places??? I think the bigger problem is that people have stopped buying...hoping that the prices will go down, down, down. I think things will become stable, but I really don't think prices are going to go too far down. I've been through two or three of these housing crisis since I have owned my home...and it ALWAYS bounces back. If I was a homeowner, I would wait it out for the next 6+ months. If I was a buyer, I wouldn't wait too long past that time.

The value of our house has doubled since 2004 - and that's only because we haven't finished renovating (it's still a mess). If we were finished, the value would likely be triple based on what other houses in this 'hood have gone for.

I think most of the buyers are Californians...

[saywhat?]

I'm curious about how you are determining how much your property has gone up in value? Bexar County Tax Appraisal records? Real estate agent? Bank appraiser?
I always thought I would not REALLY know how much my home went up in value until I placed it for sale, determined an asking price and a buyer accepts that price or makes a counteroffer which I accept - thus, my home's actual market value. That transaction would tell me how much my property actually went up (or down) in value since I purchased it.
Thanks for any info you can provide! I'm quite fascinated by this.

[Squidlo]

Originally Posted by hello13685

Squidio, a lot of us have trouble taking the culture and attitudes (I'm sure the reverse is true for many Texans--that is, they have a hard time putting up with Californian cultural ideals). But, many of us try our best to stay given some of the reasons that Wehotex pointed out. It's unfortunate that there isn't a perfect place. Where is my $100,000, 2500square foot condo in year-round warm weather, a bustling and intellectual vibe, and all of it walking distance to coffee shop culture, shopping, broadway quality shows and world-class museums?! Is that too much to ask?? Sheesh...

Heh! I am pretty happy costs are low here across the board. Luckily there is so much room the real estate market wont overheat like it did where I am from. I was surprised to find the culture here that I did. Its not California and its beautiful anyway. Sadly I will be moving on in a few years. I can always visit Texas and my newest friends.


Squidlo

[texasdreamin]

Originally Posted by saywhat?

I'm curious about how you are determining how much your property has gone up in value? Bexar County Tax Appraisal records? Real estate agent? Bank appraiser?
I always thought I would not REALLY know how much my home went up in value until I placed it for sale, determined an asking price and a buyer accepts that price or makes a counteroffer which I accept - thus, my home's actual market value. That transaction would tell me how much my property actually went up (or down) in value since I purchased it.
Thanks for any info you can provide! I'm quite fascinated by this.

#1...I don't live in Texas.
#2...my son-in-law is a mortgage broker. They know all about "comps".
#3...my nephew is an appraiser.

[Chakapu]

Originally Posted by saywhat?

I'm curious about how you are determining how much your property has gone up in value? Bexar County Tax Appraisal records? Real estate agent? Bank appraiser?
I always thought I would not REALLY know how much my home went up in value until I placed it for sale, determined an asking price and a buyer accepts that price or makes a counteroffer which I accept - thus, my home's actual market value. That transaction would tell me how much my property actually went up (or down) in value since I purchased it.
Thanks for any info you can provide! I'm quite fascinated by this.

Based on the random offers Californians leave on our door ;-)

Seriously. We often get offers from people driving around looking for a 'bargain' and willing to pay us to 'take that house off your hands" (until we painted last week, the house looked like a crack shack... so the assumption was we were desperate for cash and they were doing us a favor).

Also based on what our realtors have told us, and what other houses in the area have sold for. The house we rented before we bought just sold - I know all it's ins and outs and all the work that needs to be done on it, and I know how much it sold for.

[Jimgil]

Originally Posted by CamaroGuy

I just hope and pray that they don't "Californicate" San Antonio or the rest of Texas heaven forbid!

I don't think that will happen. The Texas and SA culture is too strong and desirable to try to bring what one was trying to get away from. I think anyone who moves from CA should try to be open and be influenced by the local culture, not bring everything with them. OTOH, probably a little cross pollination could be good for both groups.