Take a look at the graphic below:
How much has a median priced home appreciated in Santa Clarita since we really started keeping good records? In 1998, a median priced home sold for $204,742. 20 years later, a median priced home sells for $568,000. That increase works out to $18,162 per year. If you were even luckier, and bought a home in 2011 for $364,867 you’d have seen the value go up by $29,019 EACH year up until now.
How did home owners across the US do?
That 57% appreciation in 5 years in Califonia is second only to Nevada (66%) in the nation. The ride to the top of the mountain in prices has been wonderfully lucrative for the late comers in 2011, but more importantly, look at how things will look if prices continue to rise AT ONLY HALF THE RATE THEY HAVE RISEN since 2012:
No matter which colored chart you look at, they each are telling you one thing: you are making out like a bandit if you have owned a home in the past 18 years, and there is STILL money to be made if you get in now… Yes, even now…