California Real Estate

Personal residence IMO isn't really an asset unless you sell it.. right? You are living in it.. so you may have the equity but it stays put.. If you sell, then you have to deal with the astronomical increases in a new purchase. Although your heirs will greatly appreciate the money when you die.. It's really not doing you any good.
 

Falcon said:
Bought mine for $25,000; watched it being built and still living in it.

One across the street (same model as mine) from me sold for $875,000 last week.
Click to expand...

Falcon, what year was that?

Also interesting what's happened to California real estate vs Detroit, huh? IIRC you used to have a house there.
 
AZ Jim said:
I compare Calif today to the Calif I was born in back in the 30's,40's and 50's. It was a paradise then.
Click to expand...

Early Cali WAS like Paradise, right you are! Jacqueline Briskin's wonderful book, "Palo Verde", describes in detail the Los Angeles area around 1900: whole valley abloom with wild mustard plants.

Then, an enterprising young man, geologist, perceived what the motorcar would bring, and discovered OIL in the La Brea Tar Pits area. He dug deep, by hand, his older brother admonishing him every step of the way.

I've read that book through several times now, so interesting and well-written. Think it was written in the '70s. Highly recommend it to any avid readers of historical fiction. Much content factual. imp
 
Falcon said:
Living in it is "doing me good".
Click to expand...

Staying forever (till you-know-when), consider reverse-mortgaging it, they likely give maybe 75% of appraised, chunk of money in hand, do with it as you see fit. I would do that, 'ceptin' my hovel just ain't worth nuthin' to a banker......imp
 
You must log in or register to reply here.

Back
Top