Location, Location, Location
Whenever you buy real estate, if you ask the 3 most important things, the list is location, location, location. In case, you didn’t believe it, here’s a map between Saturday’s high temps and median house prices in Socal.
Yes, there are other factors here, but there’s a reason people when they came to Socal they started building near the coast first.
In case you are curious why this temperature maps happen here but not in places like New England (although it does just not nearly as extreme), all of Socal is basically a desert so everyone should be 120 degrees. The mitigating factor here is the ocean. The Pacific ocean here is VERY cold for the latitude because currents come down from Alaska and bring in cold water.
To give you an idea, the water temps today are:
- Laguna Beach: 68
- San Diego: 71
- Portland Maine: 63
- Boston MA: 66
- New York City: 72
- Savannah GA (Same Latitude): 82
Thus, when the wind blows off the water, it cools down the areas close to the coast. The second mitigating factor is of course elevation.