Bakersfield, CA · Member since 2016 · 378 posts · 307 votes
9y
The economy seems to be on a slow and steady upward climb. You don't need real estate appreciation to tell you that, you can see the signs elsewhere.
Mortgage rates have been at an all time low to stimulate economic growth and now everyone's talking about how rates are going to be going up. FHA is increasing limits as you mentioned. Locally, oil has been hit hard but other local economies are thriving. Local hard money lenders are now pooling together major capital and creating private lending institutions that are able to offer better terms than I've seen since the pre-crash good ol' days.
Home prices, yeah those are on a steady incline too (at least here in Bakersfield, not sure about the surrounding mountain areas). Starting off the year in 2012, the average sale price was around $150k. This year we started off at an average sales price of around $230k. Most of that upward increase was from 2012 to 2014. From 2015 to now, it's been a slow and steady increase of 2 or 3 thousand dollars each year added average home sales price, give or take. The slow and steady increase is a good sign in my opinion.
Rental Property Investor · Los Angeles, CA · Member since 2019 · 160 posts · 58 votes
5y
@Sanjeev Advani I would say it's safe investment. 10% is good. I just here talk about it's not a good time to buy. But I do agree, if the deal makes sense, it's a go. For me. If I can get 7% ROI a month that's a deal. But everyone is different on how they do their numbers