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Old 08-13-2007, 06:28 AM   #121
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Please correct me if I am wrong, Goonie, but I did hear it said by a newscaster that--if another Katrina/Rita hits N.O.--with the way the levees were repaired--that the water will, the next time it hits, go INTO the bowl that the French Quarter and start destroying the Quarter. The Quarter is the best part of the entire city, as you know. Sucks, I know.
Personally, I think the cost of rebuilding will be prohibitive; but, if you have any updates on this, please share it.
If it takes decades to repair, will it really be worth it? Decades is a long time, and the generations after us won't remember N.O. much.
I, too, have relatives that live in the Lake Charles area. And, in a way, I am glad my father isn't alive to see how badly N.O. was destroyed. It would have killed his soul as he, too, loved the city.
If anyone has any updates on what is going to happen to N.O. and rebuilding, it surely would be great if you would post it on the board as it seems more than a few of us are truly interested. Thanks.
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Old 08-20-2007, 12:05 AM   #122
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How about Stockton, CA as a retirement place? It's only 70 miles to San Francisco. The weather is hot in the summer but moderate the rest of the seasons. The cost of housing is very affordable relative to that of the Bay Area. It has the highest percentage of foreclosures among the metro areas. Banks are willing to deal. It is a buyer's market.
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Old 08-20-2007, 11:17 AM   #123
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How about Stockton, CA as a retirement place? It's only 70 miles to San Francisco. The weather is hot in the summer but moderate the rest of the seasons. The cost of housing is very affordable relative to that of the Bay Area. It has the highest percentage of foreclosures among the metro areas. Banks are willing to deal. It is a buyer's market.
I've been in the greater Sacramento-Stockton area recently to scout for a place to live. There are many small towns/cities nearby that are good retirement areas. Lodi which is a quaint wine-producing town about 10 miles north of Stockton is nice. Its claim to fame is being the "zinfandel capital of the world". The foothill cities of El Dorado Hills, Cameron Park, Folsom, Placerville are also pretty. They are within comfortable driving distance to Sacramento, the Bay area, and Lake Tahoe. Of course, these places are in California, i.e., expensive, relative to other parts of the US, but are more "affordable" than the Bay Area or Southern California. If living in California becomes intolerably expensive, I might consider moving to Reno Nevada across the border.
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Old 08-20-2007, 05:37 PM   #124
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How about Stockton, CA as a retirement place? It's only 70 miles to San Francisco. The weather is hot in the summer but moderate the rest of the seasons. The cost of housing is very affordable relative to that of the Bay Area. It has the highest percentage of foreclosures among the metro areas. Banks are willing to deal. It is a buyer's market.
My BIL/SIL live in Sacramento. I could "retire" there and have to work for another 15 years. Taxes, Taxes, Taxes....... Home prices, Home prices, Home prices.........even if they fall 30% they are still wacko.

Based on my BIL/SIL, California alters your brain until you think the outrageous cost of living is "normal."
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Old 08-20-2007, 07:10 PM   #125
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Based on my BIL/SIL, California alters your brain until you think the outrageous cost of living is "normal."

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If living in California becomes intolerably expensive, I might consider moving to Reno Nevada across the border.
How about Nevada County, CA? It's not cheap to live there, but the scenery is breathe taking. Of course, Reno would be more affordable.

P.S. I am planning to visit these places during the Xmas holidays (later this year). Thanks for info.
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Old 08-21-2007, 06:18 PM   #126
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I was just doing homework today on when the real estate market in Las Vegas and Reno would bottom out; and found out that the average home cost was $305K in Reno right now. The bottom is to hit either 1/09 or around the middle (June, July) of 2009. Prices are expected to drop another 40% before they bottom out.
So, if a median priced home is $305K minus 40% = $185,000 for a median priced home in Vegas/Reno. Just wait until it bottoms out is all...
They have said that Nevada is supposed to gain a 4-5% on homes after it bottoms out each year. Decent, but not fantastic....but decent.
The tax situation in Nevada is really good, tho.
Have friends in Truckee, California, with a gorgeous Tuscany style villa. I have always wondered why they didn't build it in Nevada...being like 30 minutes away or so. Maybe the property taxes are lower in Truckee? They are retired, and were in home construction, so they should know better than I.
Statistics change all the time due to conditions (floods, terrorist plots hitting a particular area, earthquakes, etc.), but two or three years ago I took the US Census Bureau and did their predictions of population growth-- within the next 10 years--against what the populations are now to see what cities would have the biggest population growths in America. It came out to: Vegas and Dallas. Now you can do what you want with that information.
Frankly, I thought it would be Phoenix...but no...Vegas and Dallas.
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Old 08-22-2007, 09:58 AM   #127
 
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That's good to know since Reno is at the top of my list of places to move to when my wife retires in two years.
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Old 08-22-2007, 10:38 AM   #128
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So, if a median priced home is $305K minus 40% = $185,000 for a median priced home in Vegas/Reno. Just wait until it bottoms out is all...


Frankly, I thought it would be Phoenix...but no...Vegas and Dallas.
So they're predicting the bottom 18 months from now and giving it a 6 month window. As the owner of a median priced home in Vegas I have yet to see any decrease in value in my neighborhood. Of course I'm up 200% so think I may give back 10-15% short term. And unless they making gambling illegal in NV I'll bet you you won't be able to buy $300K homes for anywhere near $185K!
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Old 08-22-2007, 10:43 AM   #129
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I was just doing homework today on when the real estate market in Las Vegas and Reno would bottom out; and found out that the average home cost was $305K in Reno right now. The bottom is to hit either 1/09 or around the middle (June, July) of 2009. Prices are expected to drop another 40% before they bottom out.
So, if a median priced home is $305K minus 40% = $185,000 for a median priced home in Vegas/Reno. Just wait until it bottoms out is all...
They have said that Nevada is supposed to gain a 4-5% on homes after it bottoms out each year. Decent, but not fantastic....but decent.
I don't wish to be challenging, but I would like to learn more about this. These are pretty definite predictions! How is such certainty and precision achieved?

Could you share a link or reference?

Thanks, Ha
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Old 08-22-2007, 02:46 PM   #130
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I, personally, have no knowledge of the area; but I found alot of information on the Nevada real estate market by putting in something like: "Las Vegal real estate market bottom out" and other things like this. There seems to be alot of information on this subject...whether true or not remains to be seen.
This is the prediction I have heard before, and it seems to be quoted more than once. Maybe you people who live there can share better information than the net is providing.
Again, I have no clue if this is true or just crapola as I am stuck in the Midwest...where the fun never ends...yeah, right....I am just going by what is said on the internet in many various articles. EZ to find.
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