Craig Higgins has lived and worked in big cities all over the world: New York, Seattle, London, Paris. But he most recently bought his dream home in the middle of Southern California’s high desert.
“Every property I looked at sold within two days above asking price, so I knew something was going on here,” Higgings said.
“Here” is Wonder Valley about a two and a half hour drive from Los Angeles. Population? About 700.
Eventually, Higgins said, he got lucky and bought a small house directly from its owner in an all-cash deal of just under $50,000. That’s a far cry from LA County’s sizzling real estate market, where the median home price is more than $700,000, according to the financial services company CoreLogic.
With a price point that’s low compared to the rest of Southern California, a lot of buyers are offering all cash, said Rob Grace, a real estate agent who specializes in desert living. “People [are] willing to forgo appraisals, and go way over asking price.” Read more