Quote:
Originally Posted by manaboutown
Homes are not really investments when one considers the ongoing costs of ownership The only home that turned out to be a great investment for me was a home I owned in Newport Beach in Orange County, CA which appreciated 400% from 1996 to 2006!
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Quote:
Originally Posted by doran
I wish I could still afford my homes in Laguna Beach and Newport Beach, CA. I had to make a choice of early retirement or move to a place I could comfortably afford. We chose to sell and move here. My homes in California all rose tremendously in value, perhaps over inflated. Since moving here in 2011, paying cash, and upgrading everything, I feel I would be hard pressed to sell for any type of profit. So many new homes are being built that the price of pre-owned has leveled off. Only my opinion, nothing more. I miss Orange County, but not 14 hour days.
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My best friend was born and raised in Newport Beach and owns some rentals there he inherited from his mother, that in my opinion would be middle-to-low end in most places...but command rents that are obscene.
A relative of his owns this place, that became famous when they made President Nixon stand in line like everyone else, because they don't take reservations...
from anyone.
