California Creative Real Estate Association
California hosts some of the most expensive, exotic real estate markets in the country as well as in the world. Beverly Hills real estate is iconic for their palatal estates and gently swaying palm trees. Malibu real estate is equally iconic for most who can easily envision the gorgeous 28 miles of Pacific Coast Highway complete with Pamela Anderson rescuing someone in the adjacent surf. Other California real estate markets that command true premium prices include San Diego's La Jolia, Del Mar and Rancho Sante Fe. Newport Beach, Coto De Casa and Laguna Beach are as pricey a neighborhood that you will find in the world located in Orange County. In Los Angeles county beyond Beverly Hills and Malibu you have the South Bay neighborhood of Manhattan Beach, Brentwood, Pacific Palisades, Palos Verdes and Calabasas. Moving up the coast Santa Barbara is movie-set perfect and neighboring Montecito, California is even better assuming you are in the $10,000,000 per home range. Monterey, Pebble Beach, Los Gatos and many of the neighborhoods of Northern California including Marin and Sonoma country offer their own unique attraction that is respectfully also world class.
The question is how actually buy in one of these neighborhoods as "location, location, location" has never meant more than when talking about buying in the best neighborhoods in California.
Here are some creative real estate options:
- Be a cash buyer. That's always the best option when looking at homes priced from $2,000,000 to $100,000,000.
- Use your investments (stocks, bonds, annuities) to secure lower rates than a traditional mortgage. This could save you upwards of one percent on your loan which might need to be millions of dollars to afford homes in some parts of California.
- Use a private banker who understands the California real estate market as most national banks don't get the monetary realities of this red hot real estate market.
- Look at properties large enough that you could subdivide. Even if it takes time to get city or Coastal Commission approvals – you might be able to offset some of your costs buy say putting up some small rental home on your Napa wine estate.
- Rental options like a guest home can help offset some of the price of buying a home in California.
Unless you are rocking an eight figure net worth or higher – we suggest that you either a) be careful to stay within your means while never forgetting "location, location, location" or b) our most creative solution which is to buy a winning Powerball ticket. That's the fastest way to move in next to Oprah in Montecito or get into a bidding war with Larry Ellison and David Geffen for a piece of "Billionaire's Beach" in Malibu.