Ron Trujillo | Aug 21, 2019 | 0
14 CA cities expected to join $1 million home price club
By Ron Trujilloemail@example.com
Welcome to the million-dollar club. Well, soon enough.
Twenty-three cities are expected to have a median home price of at least $1 million by June 2019, and 14 of those up-and-coming million-dollar communities are in California, including nine in the Bay Area.
In fact, the top-10 cities — ranked by estimated prices by June 2019 — are in the appropriately named Golden State, according to Zillow.
Burbank, just outside of San Jose, Morgan Hill and East Palo Alto are the top three communities expected to join the $1 million club. East Palo Alto has become one of the hottest housing markets in the Bay Area, an about-face from two decades ago when it was considered one of the most-violent cities in the U.S.
Other California cities cracking the $1 million list:
- Los Alamitos
- Broadmoor Village
- Daly City
- La Habra Heights
- San Clemente
- Seal Beach
- Dana Point
Currently, the U.S. has 197 communities where the median-price is $1 million-plus, with Atherton in the Bay Area leading the way at $6.9 million.
Feature photo of Dana Point by LagunaticPhotography/Shutterstock
Golden State’s top 100 high schools
It’s back to school time in California, and some students are going to some of the best high schools in the state — and nation.
And buying a home near excellent schools and in a top-notch school district can actually pay off more than great floor plan or resort-style backyard.
First-rate high schools are considered the most important, according to real estate experts.
Canyon Crest Academy in San Diego is the highest-rated high school in California, according to the latest Niche report. Henry M. Gunn High School (photo) in Palo Alto and Troy High School in Fullerton finished in second and third place.
Check the complete list of the top 100 high schools in California.
Most competitive CA cities for homebuyers
Five of the nation’s most competitive cities for buying a home are in California, including first-place San Jose and Fremont, according to Redfin.
Both cities earned a top 100 score, meaning a large majority of homes on the market receive multiple offers without contingencies. Seattle was the only other major city in the nation to earn the top score.
Oakland, San Francisco and Sacramento also finished in the top 10. However, the competitive cities ranking was through the second quarter, and home sales have slowed, especially in the Sacramento region.
Photo of Fremont by Sundry Photography/Shutterstock
Hammer time in these two CA cities
Two of the top 10 cities for home-improvement loans are in California, according to a LendingTree report. San Jose finished at No. 2 — and easily had the largest median home-improvement loan — while Sacramento ranked No. 10.
Oklahoma City has the largest percentage of home-improvement loans at 0.77% in the nation.
(Is the interest on home-improvement loans tax deductible? IRS says it depends.)
Rate of home-improvement loans: 0.75%
Median loan amount: $374,000
Rate of home-improvement loans: 0.55%
Median loan amount: $173,000
Photo by Africa Studio/Shutterstock