California

[Steppenwolfe]

We have been in CA since Feb on 4 different construction projects. In Feb everyone answered the phone and came a runn'n. Now, you get voice mail with maybe I'll call you back.

 

[ultrarunner]

What kind of projects?

 

[dickfoster]

Real Estate is always cyclical... at least I have gone through several downturns plus I remember walking past boarded up homes in Oakland on the way to school.

The city would sell the home of $1 to a person that moved in and made improvements and after 5 years you would have clear title...

Mostly painting, a new roof, cleanup would be enough to meet the fixing part.

Now those homes that went for a $1 back in the 70's are pushing 400k!

The houses aren't really worth anymore, it's just that the dollars used to buy them is worth so much less. No one is getting anything for nothing and they never will.

 

[ultrarunner]

But a dollar in 1976 to $400,000 in 2016 is more than the dollar losing value.

Even as late as 2012 homes were selling far below the replacement cost... it was great time to be home shopping...

Four years later the same homes have doubled around here...

In other areas the multiple is even higher... that is just how strong the present market is.

 

[Steppenwolfe]

What kind of projects?

We have been in La Jolla, San Jose, Walnut Creek, and Torrance.
Have two more soon. I would prefer to just say we are specialty contractors...

 

[jerrybob]

We have been in La Jolla, San Jose, Walnut Creek, and Torrance.
Have two more soon. I would prefer to just say we are specialty contractors...

Are you an assassin? How cool is that?:laughing:

 

[MossRoad]

Now he has to kill you...

 

[ultrarunner]

Steppenwolfe... what are your impressions of Walnut Creek?

The reason I ask is this is still a very much in demand region with lower priced and high end homes within a few miles...

Lot of higher end retail still going into to downtown Walnut Creek and all the new housing is gobbled up fast.

 

[dragoneggs]

What are your impressions of Walnut Creek?

That question is a bit random... unless I am missing something. That said, in the 80s that was where I said I wouldn't mind living... I was delivering TVs and VCRs to 'rich' people moving out to bigger homes. Living in Berkeley at the time. No idea what the place is like now... it was sort of brand new in 35 years ago.

 

[TCJatko]

I imagine this is still happening: | National Review