California, USA: the place where dreams come true.

California. The place where dreams come true.

California. Where dreams come true.

Sunny California is not as far away as it seems. The state on the West Coast has deep historical ties with Russia: the Russian trading posts appeared here back in the 18th century, and in 1812 even Fort Ross – the Russian settlement located just 80 kilometers from San Francisco and was engaged in trade – was built. Today the site is a historical park, and the events of those times are reflected in the famous rock opera “Juno and Avos.

BUYING REAL ESTATE IN CALIFORNIA

However, California for the Russians is attractive not only for its history. This state is a great example of how some of the best climatic conditions in the world do not interfere with work. Despite 350 sunny days a year and the beautiful Pacific beaches, the business activity here is literally at a boom: California produces 13% of the country’s GDP and ranks first in that index, and the level of education is considered one of the best in the country. One shouldn’t forget that California is exactly the location of the legendary Silicon Valley, the world center of high technologies, which owes its development and success to the leading universities and big cities being situated in its vicinity.

California also has low crime rate, clean streets and general order, and from the point of view of the average citizen, it’s a great place to live. For those who have decided to settle in California in earnest, it is worth knowing that high school education is free, and for residents of the state who want to get higher education, universities offer significant discounts.

California is also wonderful for holiday-makers: besides the ocean and all kinds of entertainments connected with it (beach rest, diving, surfing, fishing, scuba diving, water skiing, yachting, kayaking, canoeing, etc.), here you will find entertainments to your liking as for theaters, museum and modern art lovers, camping in the nature and, certainly, children. For every child, a trip to an amusement park is an unforgettable adventure, so California is literally a fairytale land, with the world famous Disneyland located here, as well as plenty of other great parks, including Nuts Berry Farm and Universal Studios. In the latter, not only children, but also their parents and even grandparents are guaranteed to have fun.

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All of the above makes California one of the most lucrative regions in the U.S. for investors. Probably needless to say that the United States as a whole is an attractive investment destination, and California in the list of preferences seekers options for profitable investments of real estate buyers is not on the last place. There are many reasons for this. This is a guarantee of high profits, and security of investment, and lack of restrictions on the purchase of real estate by foreigners, and a relatively simple registration scheme, and the ability to diversify capital, and much more.

RULES OF PURCHASE

Buying real estate is always both exciting and frightening. What to do? Where to go? How to make out? Who and how much to pay? In addition, the laws of some countries can confuse even a sighted investor. In the case of California, fear not: here all is very clear and absolutely clear, even to those who first decided to buy a property. Also, the deal can be done remotely, without coming to the U.S., of course, provided that you have the support of a professional licensed realtor.

So, you have found your dream home and are ready to proceed with the transaction. The first step will be to sign a Purchase Agreement with the seller of the house (Purchase Agreement), and making an advance payment (usually 1% to 3% of property value). This money does not go to the seller, and remain in the bank account of the escrow firm handling the transaction, which represents the interests of both the seller and the buyer equally, and monitors the purity of the process, as well as to ensure that all the formalities. It is important to remember that the prepayment can be returned to the buyer in case of cancellation within the time specified in the agreement (usually 7 to 14 days after the agreement is signed). If you change your mind at a later date, unfortunately you will have to say goodbye to the prepayment as well. The agreement also specifies the terms of the sale, the amount of the deal, the loans involved, etc. In fact, after that the object is assigned to the buyer: in spite of the fact that the transaction is not completed, the object is removed from the sale, not advertised anywhere, etc.

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Next, within 15-45 days the object is checked. This is handled by the title company, whose job is to rule out cheating or possible scams.

The escrow firm’s staff collects the statutory package of documents to transfer ownership rights. This process is not free: the cost of inspections depends on the price of the object of the transaction and the time spent. The escrow firm’s services are paid 50/50 by the seller and the buyer.

Upon completion of the inspections and if necessary to correct any deficiencies identified, the parties proceed to the final stage – the signing of the final contract.

By this stage, the buyer is required to pay the remaining value of the purchased property, as well as cover other expenses. These costs include: a portion of the property tax (the tax averages 1.1% per year depending on the value of the property, the seller is reimbursed a proportional part of the tax upon purchase), escrow-firm services, property valuation ($300-600), processing documents ($ 350-400), if necessary – transportation or postage costs, title insurance and personal accident insurance (depending on the value of the property), recording the translation of property ownership ($ 100), preparing the final documents for signing (approximately $ 200).

…WHAT’S FURTHER?

And then you can move into your new home. Or rent it out. If you decide to make a profit from your newly acquired property, receiving rent, it is worth knowing that in California (and in the U.S. in general) is initially contracted for a minimum of one year (sometimes – for two). By agreement, you can pay the rent monthly, and if the tenant decides to move out, he must notify the owner at least 30 days in advance. It is necessarily specified in the rental agreement, as well as whether the rent includes utilities and other costs for the maintenance of the facility in good condition, as well as the amount of the deposit (usually the cost of a month of rent).

THE CHOICE IS HERE!

If you’ve already thought about buying real estate in the U.S., have researched the market, but haven’t included California in your research, you should start over. The fact is that the real estate markets of different regions in the United States are very different, and therefore you can’t compare not only the East Coast and West Coast, but sometimes even neighboring states.

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So, California. This is the largest and most active real estate market on the West Coast. The state capital is Sacramento, and the most populous city – Los Angeles, located in southern California. The state is generally divided into North and South. In the South, besides Los Angeles, there are San Diego, San Bernardino, Riverside and others. San Francisco, Oakland and San Jose are considered the main cities of the North. There are a lot of direct and transit flights from California to Russia – from Aeroflot non-stop flights (about 12 hours en route) to different flight options by European, American, Asian, and Middle Eastern companies with excellent connections in different cities of the world.

Whether you are planning to buy real estate for personal use, or you are looking for a way to make a good investment, you should know that one of the main characteristics of the Californian real estate market is that prices can go up and down pretty dramatically. However, when you look at the price trends over the years, one thing is clear: prices are always going up. And this despite the fact that construction of new properties in California did not stop even during the crisis year of 2008.

So how is the California real estate market doing this year? According to a spring report from CAR (California Association of Realtors), home prices in the state hit a seven-year high in April, with the number of transactions also growing. In April, the average cost of a home, according to statistics from the Association, was $450,000 (+11.6 percent over last year). If the dynamics continue, experts predict that 2014 will end with an average value of $440,700 per object, which is +8.2% over 2013.

Townhouses and condominiums are the main targets of transactions (more than 60% of the total volume). In strict legal terms, a condominium is a form of co-ownership, generally referring to an apartment building in which the homeowners form a community that owns the entire building. In simpler slang, “condo” most often refers to an apartment (the owner of which becomes a member of a community of owners of common facilities: roads, swimming pool, fitness club, lighting). Condominiums are popular primarily because of their investment appeal: they are much easier to rent out than, say, a mansion with a garden.

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Another characteristic of the California real estate market is that prices vary greatly depending on the location of the property. Among Russians, Los Angeles and San Diego are very popular, where prices are almost identical. Buyers especially like such areas of San Diego as Del Mar, La Joya, Coronado Island with the best golf and yacht clubs in the world.

Los Angeles is a true Mecca for investors who prefer really serious, large investments. The most expensive real estate here is in Beverly Hills, Malibu, Brentwood, Bel-Air and Long Beach. If you are willing to spend a few million dollars to buy, these areas are for you. Apartments here will cost about $3 million to $4 million, and a villa will cost $6 million to $15 million. A bonus to such an investment is the proximity to celebrities: Hollywood stars, famous athletes and businessmen.

It may come as a surprise to some, but there is affordable real estate in California. Affordable apartments in Richmond and Sunset are the San Francisco neighborhoods that are considered the most attractive in terms of the ratio of quality properties to their cost. In search of more fashionable (and expensive) options in San Francisco, it is worth going to Alamo Park or Marina, for example.

As you can see, California is quite diverse – everyone can find their dream home here, not without reason, this is where the “dream factory” is located, which means that everything is possible here!

Article Consultant: Raisa Kirichenko Raisa@HomesBoutique.com

Feedback: Disneyland Park (California, USA) – A fairy tale come true!

This is the very first Disney land that Walt Disney built! It is located in the town of Anaheim, California, 30 minutes drive from Los Angeles. Well, it’s not even 11 am, and we are already here, in anticipation of the fulfillment of children’s dreams:)

map

It turned out very different, we couldn’t imagine what we would see, in reality it was more colorful, interesting and fantastic than we expected!

map

The park area is beautifully landscaped, in addition to attractions and thematic pavilions, there are hotels, restaurants and cafes. There are all kinds of shows and events happening all the time! The area of the park is about 12,000 hectares!

There are over 60 attractions and 8 special areas for entertainment at Disneyland Park:

  • Main Street, which has the ambiance of “Old” classic America. There is a town hall, cafes, stores, and a train station. Main Street leads to the center of the park, where the famous Sleeping Beauty Castle is located.
  • Adventurland, and here is an attraction called Indiana Jones World!
  • Fantasyland, a site decorated in the style of a medieval town, in the center of which is the castle of the sleeping beauty. There are attractions for the little ones, but most memorable is the Matterhorn Bobsleds!
  • Frontierland, that’s the Wild West in the flesh! Cowboys and Indians! Here we showed up on the mountain railroad and a huge steamboat on the river!!!
  • Tomorrowland, Here are the fantastic Star Tours, SpaceMountain, Buzz Lightyear Astro Blasters, Finding Nemo as a submarine.
  • Critter Country, Mickeys Toontown, is for fans of Mickey, Mini Mouse and other cartoon characters, their houses that you can go into and see the life of the owner;) The kids here are especially fun!
  • Critter Country, the main attraction is a boat floating down a chute and then falling into a waterfall!
  • New Orleans Square is a 19th century New Orleans style square. Here are the popular Pirates of the Caribbean attraction and the Haunted Mansion (the planter’s house from the South).
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All attractions are not only technically sound, but so visually real and extremely beautiful that even pictures can not convey the whole atmosphere!

On the main street there are Disney characters that you can take a picture with:) Everyone is very friendly with children and adults.

When you go through the attractions, do not pay attention to fatigue, because it’s so cool to feel like a kid and to be in a wonderful land where the story becomes real!

It is probably impossible to describe the emotions, adrenaline and childlike delight that accompanied us throughout the day.

Regarding the price of tickets: $ 100 for an adult of 10 years (1 day), a child under 10 years-65 dollars. you can also buy a ticket for 2, 3 days.

Here it is, Sleeping Beauty’s Castle!

SC castle

plaque

view

ship

Disneyland Park (USA, California) photo

Disneyland Park (USA, California) photo

pirates

pirates

pirates

ship

county

mickey

cabin

Welcome to the homes of fairy tale characters!

cabin

cabin

cabin

cabin

Winnie

bunny

snow white

witch

let's go

rocket of the future

wild

We need to get some food, as Winnie the Pooh advised us to do:)

are you hungry?

sweets

sweets

miniatures

into the future

down the mountain road

disney

nemo

nemo

nemo

senior tour

Disneyland Park (USA, California) photo

let's go

wheel

at night

Well, the day has come to an end and we’re heading back to Los Angeles to continue our journey later.

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