Since 1975, home prices in California have steadily risen, with the exception of the rapid decline following the 2008 burst in the housing bubble. The average annual rate of home value appreciation has been 5.7% from 1975 to 2011. The average home price in California peaked at around $535,000 in the spring of 2006. Home prices have been at a low of about $300,000 since late 2008 and early 2009. But housing prices are starting to slowly rise, particularly in the Los Angeles and San Francisco metropolitan areas.
This situation presents an ideal opportunity for investors to acquire housing at historically low prices. Investors buying houses can lease them for a profit or hold them for appreciation, as the housing market continues follow historical trends and return to higher values. Investors have the opportunity to seek the help of property management and investment firms in acquiring and managing their properties, making maintenance and upkeep simple and profitable.
About the Author:
Kevin Fitzgerald formerly served as the CEO of U.S. Advisors, LLC. He has years of experience in real estate investment.