California real estate, in many markets, is very expensive and in some
markets is declining in price.
I keep thinking about the shows on tv and houses that are “flipped” in
areas like Los Angeles. One that I saw recently was 1700 square feet,
outdated and in horrible shape and sold for $ 450,000, as is.
After renovations, many of these houses are going for 6 – 700,000 dollars.
Even in Charlotte, which has some of the more expensive homes in
North Carolina, you can buy a home that looks better than the renovated homes on tv, on a larger lot and own a beach cottage at the North Carolina coast, for an amount between the pre renovation and post renovation amount of the 1700 square foot house in California.
There are some great deals on the NC coast now. About 10 years ago
prices in many areas of the coast were way undervalued. Prices began
going up and have leveled off temporarily. If you want a bargain, look
at real estate in places like the Outer Banks, but do not wait. North
Carolina is growing fast and baby boomers are starting to retire.
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