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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Overworked and too late Posted by Bob on January 13, 2004 at 6:46 PM In Reply to: Re: Overworked and too late posted by Dennis-CAL AZ NV TX on January 13, 2004 at 0:27 AM : Great Post is right on to overworked and too late. Do yourself a favor and stay away. there is absolutely nothing happening there. Only fools would be buying there now! : : : : New homes seem to be cheap in Palmdale, Lancaster, Victorville, and Adelanto relative to other areas in Southern California. Any opinions on the pros and cons of investing in these areas by those who've done it? : : : ================== : : : JK, : : : Some very smart real estate investors I know are currently committed to working the Palmdale, Lancaster, California City areas. : : : If I was closer, like in the Los Angeles area, I'd be nosing around North LA county. : : The competition in those areas appears to be as fierce as all the other areas and it appears to be not as liquid. The margins appear to be low and risks very high due to the outlying locations of the properties. The properties have gone up very high yet the income levels of the buyers that are looking to buy there are low and they have litle cash so qualifying is difficult. JK. do yourself a favor and stay away from the Antelope Valley. I have been hear since 1990 and have seen the values plummet like nowhere else. For what you have to pay to get a descent area you will be upside down on the rent.The rents have not kept pace with the prices. If you do get a renter, it will only be problems in the long run. I saw the crash in the mid 90's that had the foreclosure rate at an all time high. Most of us were so upside down it was unreal. Something like a loss of 40 to 50% in value. By the way, since the first of the year we have had three murders already. My advice like all the others is to stay away. I saw for myself at the auction in Norwalk how high the prices are being bid up out here. Not a good place to invest. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Great Post is right on to overworked and too late. Do yourself a favor and stay away. there is absolutely nothing happening there. Only fools would be buying there now! : : : : : New homes seem to be cheap in Palmdale, Lancaster, Victorville, and Adelanto relative to other areas in Southern California. Any opinions on the pros and cons of investing in these areas by those who've done it? : : : : ================== : : : : JK, : : : : Some very smart real estate investors I know are currently committed to working the Palmdale, Lancaster, California City areas. : : : : If I was closer, like in the Los Angeles area, I'd be nosing around North LA county. : : : The competition in those areas appears to be as fierce as all the other areas and it appears to be not as liquid. The margins appear to be low and risks very high due to the outlying locations of the properties. The properties have gone up very high yet the income levels of the buyers that are looking to buy there are low and they have litle cash so qualifying is difficult. : JK. do yourself a favor and stay away from the Antelope Valley. I have been hear since 1990 and have seen the values plummet like nowhere else. For what you have to pay to get a descent area you will be upside down on the rent.The rents have not kept pace with the prices. If you do get a renter, it will only be problems in the long run. I saw the crash in the mid 90's that had the foreclosure rate at an all time high. Most of us were so upside down it was unreal. Something like a loss of 40 to 50% in value. By the way, since the first of the year we have had three murders already. My advice like all the others is to stay away. I saw for myself at the auction in Norwalk how high the prices are being bid up out here. Not a good place to invest. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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