[quote=FlyerInHi] . . . I foresee more 3 bedroom condos being built.[/quote]Back from a “break” trimming wayward giant bushes and filling 3 (2 “borrowed”) 90 gal carts with yard waste … as a function of El Nino, lol. More next week after cans are emptied ….
FIH, there are many large (100 or more unit) condo complexes in the SGV which have lots of 3-4 bdrm units. They are on average about 30 years old and appear to be very well-managed. My youngest kid lives in one and its landscaping is to die for. However, they are no longer “cheap.” For a few years (2008 to 2012) some “distressed” units could be had in the $300-$400K range, but alas, they were all bought up by cash buyers (90% “Chinese”). A 3-bdrm unit is now worth $475-$575K, depending on condition. Of course, the SGV’s (older stock of) SFR listings now start at $575K with an average age of 50 years old. (There isn’t any housing much newer there than the late ’80’s except for in “Phillips Ranch,” a fairly recent county annexation into the City of Pomona.) Even though these cities are likely ~30 miles closer to job centers than the “Eastvale/dairy farm” area of Riv County, it is likely that most first-time buyers (millenials) can no longer qualify to buy into the SGV, unless they are happy with a 1-2 bdrm condo (I don’t think there are any “studios” out there).
I think shoveler has posted before here that companies were now moving into the *new* (redirected) I-15 corridor. In a few months, the widening/elevation project of the I-15 at the base of the Cajon Pass (connecting with this corridor as well as the I-215) will be completed. This will provide a much faster, seamless transition into/out of the high desert for intra/interstate travelers/truck traffic as well as SoCal residents. This project has been on the CalTrans “drawing board” for more than 30 years (since the opening of I-215) and I am really glad to see it finally take shape.
