HOUSING HOT AGAIN AREA HOME PRICES DOUBLE IN FOUR YEARS.Byline: - Daily News Antelope Valley This article is about the Los Angeles County region. For the census-designated place in Wyoming, see Antelope Valley-Crestview, Wyoming. The Antelope Valley housing prices and home building are going up at a rapid pace not seen since the astounding a·stound tr.v. a·stound·ed, a·stound·ing, a·stounds To astonish and bewilder. See Synonyms at surprise. [From Middle English astoned, past participle of astonen, housing boom 15 years earlier. Thousands of homes were built during the 1980s boom that peaked in 1991 with more than 3,300 sales. Then the double-whammy of a deep California recession and aerospace industry cutbacks dropped prices by half. More than 4,000 properties went into foreclosure in 1997 alone. How times have changed. Home prices have far more than doubled in four years and passed their 1990 peak, the Rancho Vista master-planned community in west Palmdale is nearly built out, and the Anaverde master planned community Noun 1. planned community - a residential district that is planned for a certain class of residents residential area, residential district, community - a district where people live; occupied primarily by private residences has started construction. Home prices were up 25 percent last year in both Lancaster and Palmdale, marking the first time ever for the median Palmdale home price to top $200,000. Home buyers are a combination of Antelope Valley homeowners looking to move up in the market, first-time buyers looking to get out of rentals, and buyers from the San Fernando Valley San Fernando Valley Valley, southern California, U.S. Northwest of central Los Angeles, the valley is bounded by the San Gabriel, Santa Susana, and Santa Monica mountains and the Simi Hills. and Los Angeles Basin The Los Angeles Basin is the coastal sediment-filled plain located between the peninsular and transverse ranges in southern California in the United States containing the central part of the city of Los Angeles as well as its southern and southeastern suburbs (both in Los Angeles , finding more home for their money in the Antelope Valley. One of the questions yet to be answered in the Antelope Valley is the future of the Ritter rit·ter n. pl. ritter A knight. [German, from Middle High German riter, from Middle Dutch ridder, from r Ranch project, which was first proposed at the end of the 1980s boom. The 7,200-home development in the hills of west Palmdale has been mired mire n. 1. An area of wet, soggy, muddy ground; a bog. 2. Deep slimy soil or mud. 3. A disadvantageous or difficult condition or situation: the mire of poverty. v. in bankruptcy and legal proceedings All actions that are authorized or sanctioned by law and instituted in a court or a tribunal for the acquisition of rights or the enforcement of remedies. since the mid-1990s, but builders from around the county have recently shown interest in taking it over. The neighboring Anaverde project, formerly known as City Ranch, will contain some 5,000 homes, as well as stores, schools, parks and a golf course. Work on the first phase 1,400 lots, two parks and a school began last year. The first homes are expected to be ready this summer or fall. the details ANTELOPE VALLEY Home ownership rate: 41 percent Median home price: $204,000 (Palmdale), $172,000 (Lancaster) Average rent: $490 (2000) Housing authority: Los Angeles County Community Development Commission, (323) 890-7001, www.lacdc.org Mortgage rates: Saturday Business section of the Daily News Real estate trends: Sunday Business Recent home and condominium sales: Sunday Business CAPTION(S): photo Photo: (color) These Forecast Homes under construction on 21st Street West in Lancaster are an indication of the boom. Jeff Goldwater Box: the details (see text) |
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