Carloni Mortgage Brokers’ own Rene Carloni is at it again. Just as soon as he returned from prospecting real estate opportunities in the nearby Kootenays, he is locked and loaded for a more extravagant adventure in La La Land. That’s right, Rene is off to the Los Angeles CA on the day Santa parks his sleigh for the season (Dec 26) and comes back before the eve (Dec 30) of New Year’s Eve.
Is the BC Okanagan Valley’s preferred mortgage broker off to stomp along the Hollywood Walk of Fame? Perhaps to make an appearance at Universal Studios? Not so much. As always, Rene is traveling to LA on behalf of current and future clients.
Resent research shows that since the “event” of 2020, buyers from Canada have surpassed both Mexico and China as the largest share of foreign homebuyers in the United States. California is among the three most popular states for Canadian homebuyers, with Los Angeles leading the pack of desirable counties to call a “second home”. When it comes to BC buyers, LA makes sense as an individual or household can board one of multiple daily direct flights from YVR to LAX at a moment’s notice. Furthermore, the time zones are the same, and the laid back outdoor lifestyle in BC and California are similar, even if Los Angeles boasts a little more glitz and glam.
But does LA make sense given the discrepancy between the Canadian (CAD) and U.S. (USD) dollar? Don’t discount Los Angeles County as an option for your second home based on that. Remember that LA is so much more the Hollywood, Malibu, and Beverly Hills. The county has an area of 4,751 square miles, and a very large portion of it is residential or mixed residential/commercial. Some of the most affordable suburbs in LA County include the following (source):
- Lancaster (median home value: $159,200)
- La Puente ($284,800)
- Cudahy ($206,400)
- Carson ($720,000)
- Palmdale ($165,500)
- Norwalk ($315,500)
- Pomona ($258,700)
- Baldwin Park ($285,000)
- Santa Fe Springs ($343,100)
Our referencing of this list is not to say BC residents on the hunt for a second home in LA aren’t considering highly desirable coastal communities such as Malibu or Santa Monica (etc.) or a cool condo/loft near Abbot Kinney Boulevard or Melrose. We just wanted to show that the CAD to USD conversion isn’t the barrier you think that it may be. Compare those median home values to what you have to pay in the BC Okanagan Valley – or Vancouver – and you will find that currency conversion concerns are washed away. The great news, is that you don’t have to figure out any of this on your own. Your consideration of LA County as a place to invest in real estate (and enjoy as a vacation home) is why BC’s Rene Carloni is winding down the year in Los Angeles. He is hitting the pavement to uncover opportunities that brokers in your BC neck of the woods haven’t had the foresight to consider.
Stay tuned for updates from LA by following Rene on Instagram. If you’re already interested in what he may uncover when search in Los Angeles, or here at home in BC, reach out right away to express interest. Our office will take your stated budget, goals, and desires and build a client profile that Rene can apply to his mission in Los Angeles (and beyond).