Time to Buy Real Estate in California?

Call your realtor, now! According to L.A. Land it’s time to go all in on California housing. It seems that the decline in prices has overshot the bottom and houses are now undervalued.

Based on data from IHS Global Insight these are the areas where you will find the deals:

By those measures, Los Angeles County home prices are now 6% undervalued, the firm says. Orange County is 11% undervalued, and the Inland Empire is 16% undervalued.

San Diego is 21% undervalued and San Francisco is 25% below normal, IHS says.

Sounds like a no lose bet to me. What could possibly go wrong?

Comments

[Mono:]

haha, great stuff tom

i wonder who would give me some of that zero down financing......

Jun 04 04:11 PM

[yellowhoard:]

Thanks. After reading all of these other depressing articles, I needed a good laugh today!

Jun 04 04:19 PM

[Whippet:]

And to boot, they'll probably cut property taxes due to the fiscal crisis, to stimulate growth and boost revenues!

Just want to keep YH laughing...

Jun 04 04:23 PM

[yellowhoard:]

Right after they fire the limo drivers of the L.A. City Council members!

Stop it! You're killing me!

I think I just peed myself.

Jun 04 04:30 PM

[Jasper M:]

My only regret in this matter is that my mother did not live long enough to see this. She, like so many other, considered California a bellwether-in-perpetuity, a shining example of the future to come.

Sadly, she may still be right . . .

Jun 04 04:31 PM

[Jasper M:]

Oh, is THAT why they call you YellowHoard!?

Jun 04 04:34 PM

[Market Sniper:]

I love it. Great comedy piece and relief, Tom! Yes indeed, how can you go wrong? Here, let me count the ways......

Jun 04 04:38 PM

[yellowhoard:]

Yup. Don't have a nickle to my name.

I just sit here in my urine stained sansabelt trousers.

Jun 04 04:38 PM

[Mono:]

well THIS is what i like to see. good laughs all around. sniper...hoard....im already a follower. jasper...whippet....you have one more minion to your concubine.

Jun 04 04:41 PM

[Market Sniper:]

ROFLMAO!!!!!


On Jun 04 04:38 PM yellowhoard wrote:

> Yup. Don't have a nickle to my name.
>
> I just sit here in my urine stained sansabelt trousers.

Jun 04 04:43 PM

[Can'tSpotAB...:]

Here's the way to tell if IHS is right. Go buy some CA real estate with 20% down, turn around and rent it out. If after PITI and all expenses you have money left over then the property is correctly valued.

Jun 04 06:36 PM

[Rhino Realty:]

I suspect there will be a folks coming from the east coast (where I am) to gobble up all of the bargains as we see all of the yard sale signs in CA....also, i can't wait to visit the State's largest attractions: disney and the yellow stained trousers !

Jun 04 09:24 PM

[Mr. Ed, Jr.:]

"and the Inland Empire is 16% undervalued"

At "Free", it might be 16% undervalued.

I don't know who L A Land is, but they came up with these numbers as if they just ran them through a discarded Wall Street software program.

Jun 05 12:55 AM

[Fighting Yoda:]

"At "Free", it might be 16% undervalued." - it might still be overvalued even at free with rising property taxes.

On Jun 05 12:55 AM Mr. Ed, Jr. wrote:

> "and the Inland Empire is 16% undervalued"
>
> At "Free", it might be 16% undervalued.
>
> I don't know who L A Land is, but they came up with these numbers
> as if they just ran them through a discarded Wall Street software
> program.

Jun 05 03:03 AM

[cjhodgson:]

Sounds like Tom has been drinking a little bit too much Realtor sauce. No better time than now to buy a house in Orange County because I'll be waiting to buy your foreclosed home next year!

Jun 05 11:19 AM

[Fred Voetsch:]

Just as I knew it was time to sell my stocks in 2007 when all the mortgage mess was heating up and all the CNBC folks were denying the problems and making fun of the 'bears' I suspect that in fact, Real Estate is about ripe for the picking in California.

Of course it might be wise to wait a bit until AFTER the bankruptcy....

Jun 05 04:42 PM

[Sean in CA:]

What, no graphs or cute little pie charts to support your claims? B.S. artist rule #1 is, always quote statistics and use visual aids!

Jun 05 06:59 PM

[Tom Lindmark:]

Sean and to any others who missed the irony. This post was intended to be taken as a humor piece, not as an endorsement of the idea that CA real estate is under valued.


On Jun 05 06:59 PM Sean in CA wrote:

> What, no graphs or cute little pie charts to support your claims?
> B.S. artist rule #1 is, always quote statistics and use visual aids!

Jun 05 07:25 PM

[Mono:]

i don't even think he read the numerous comments under starting with...haha


On Jun 05 07:25 PM Tom Lindmark wrote:

> Sean and to any others who missed the irony. This post was intended
> to be taken as a humor piece, not as an endorsement of the idea that
> CA real estate is under valued.

Jun 05 08:19 PM

[TrembleTheD...:]

California's going to be one of the last places you'd want to buy real estate before the summer's out:

seekingalpha.com/user/...

Jun 11 05:03 PM