I just moved from NH to San Diego, CA last spring. I got rid of my snow shovel, snow blower and mosquito magnet. I can't stand the weather there anymore, despite of the low tax advantage of NH. The weather of NH is decent only from August to September. The rest of the year is either too rainy, snowy, too muggy, or too cold for me. I pity those of you who lived through this past January in the Northeast!
I did a lot of research into where I want to move to. I considered moving to FL. The winter in FL is nice, but the long, hot and muggy summer is not very pleasant. When I saw the tropical environment full of insects and bugs, and the flat terrain there, I was not impressed at all.
On the other hand, CA is truly a beautiful state. Driving down the Pacific coast from SF to SD, the ever changing scenary is just breath-taking. The weather is just as amazing, especially from LA to SD. No muggy weather, no mosquitos. Then I realize just how precious the California land is: There is no place with a better climate in the entire continental USA!
Furthermore, there is not much coastal land to build on anymore. All new homes in southern CA are now pushing ever further east into the inland valley and desert areas.
I chose to buy in SD because I didn't want to deal with the traffic problems and smog of LA, and SD is a nice-sized metro like Boston. I am so happy about the move, and the subsequent six digit appreciation on my house that I am buying another one just for investment.
For those of you bragging about the weather in the Bay Area, I have been there many times also. Just come down to SD in the winter. The weather here beats the rainy Bay Area.
I believe the supply and demand inbalance is going to drive the entire southern CA real estate to insane levels like the Bay Area. Therefore, right now you still can get a bargain. The nicer weather alone is a sufficient justification for higher rate of return here as reflected in the latest CAR report
http://www.car.org/index.php?id=MzMzNDA=
Just wait till when the baby boomers begin to retire in droves in the near future. The rest of United States will likely see housing decline, except FL, while CA will soar to new heights.
TraderC
Quote from steve46:
I know this is off subject, but I own a vacation home in New Hampshire on a lake. I noticed that it has appreciated quite a lot in the last year alone. I have never lived in it, but kept it just in case I got out that way on business. My accountant informed me that I needed to refi or do something with it (sell perhaps). I still make mortgage payments on it but frankly I think I am just going to pay it off and let it sit. I think its amazing what has been happening with real estate this last couple of years. Best to all Steve46