Friday, June 03, 2005

Are California's Houses Worth So Much More than Ours?

Prices of houses are soaring in California and a few other parts of the country while our houses here in Texas have shown only moderate increases. Are the houses in California really worth 2 to 3 times what Texas houses are worth?

A couple from Sacramento, California came to Horseshoe Bay last year. They could not believe the bargain prices on homes here compared to their prices. They had bought their home for about $35,000 25 years ago, and they said last May that it was worth about $330,000.

Then a few months later they emailed and said the value had gone up to $375,000. A while later they said the house was increasing $275 a day, according to the housing sales in their area. Today the value on the home is about $425,000, and is still rising $275 a day. Their home is a 3/2/2 home with a nice swimming pool. It is comparable to a $165,000 to $180,000 home in Austin.

The climate in Sacramento is very similar to ours, temperature wise. It is usually 2 or 3 degrees warmer here in both summer and winter. They get no rain for about 5 months in the summer, and have cooler nights in the summer. They have more windy and rainy days in the winter than we do.

What does Sacramento have that we don't have? Right now, they have more people speculating in houses, and maybe more greed and panic buying there.

These Californians are now in the process of buying a home in Horseshoe Bay. They will probably sell their home for more than 2 1/2 times what they are paying for their home in Horseshoe Bay. They will enjoy Horseshoe Bay much more than Sacramento. They will love it here in the Highland Lakes area with the lakes, golf courses and the deer wandering around the neighborhood!

To see real estate prices in the Highland Lakes area, go to:


At 8:48 AM, Anonymous Anonymous said...

I hope a lot of Californias don't see your article and move back here!


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