Overpriced Real Estate Market : Not in My Back Yard
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Forbes.com lists the top 10 overpriced real estate markets. Much to the chagrin of the OC Bubble Bloggers, Orange County did not make the list. Could it be that homes are priced within fair market range in Orange County? Logic says that if you're not overpriced, you're either well priced or under priced. Which one is it?
Rory,
While I do think that the OC area will be challenged with employment, over-supply and price pressure; I believe that most of this will occur inland. Premier areas such as Laguna Beach will always have intrinsic value that will keep those areas good investments regardless of the market (except in some extreme cases).
Morgan
Posted by
Morgan |
9:44 PM
Morgan,
I agree that the inland is more likely to suffer. Then the question becomes, how do you define a "Premier area" ?
Posted by
Rory |
2:20 PM
Rory,
Great point. I think you have to define "premier area" as one with high levels of desireability across many important aspects of life: location, quality of life, employment, schools, culture, etc. That would at least be a start - and Laguna would score off the charts on all of those.
Btw, I unfortunately didn't get a chance to meet you at the OC blogger meet up in Laguna a couple of weeks ago, but hopefully will get a chance to the next time around.
Cheers,
Morgan
Posted by
Morgan |
11:55 PM