In a struggling real estate market like California, finding potential buyers is difficult. And as the buyers’ market gets worse and more renters flood the state, rents keep increasing. And now, according to an LA Times story, those high rents are sending potential buyers running out of California.
“There’s a lot of concern about driving out working-class families,” said Hans Johnson of the Public Policy Institute of California.
Since 2000, even the state’s once-growing immigrant population has been frozen at 27% of total residents. Since at least 2005, more residents have left California than arrived here from other states.
The outflow, driven in part by high housing prices before the bubble burst, slowed as the recession brought prices down, then ticked back up in 2010 as the job picture remained dim, census data show.
As more and more people move away from California and the housing market remains dire, finding suitable buyers becomes the number one priority for real estate agents with homes on the market. How are you sourcing potential buyers?
Please share your tips with us.