Moving Back To SoCal: Easier Said Than Done

Many Southern Californians find the grass isn't greener elsewhere, and the very housing market they cashed in on to finance an out-of-state move is now making a return back home much more difficult.

Chased away by perceptions of growing traffic, taxes and living expenses, and the enticing possibility of cashing in their home during a fast-rising real estate market, a number of Southern Californians sold their homes recently and relocated out of state. While most do not regret their moves, some have found hidden costs -- both financially and culturally -- and wish to return. Yet many are finding the road back home a bit bumby:

"Beset by mortgage woes and congested roads, David and Ricki Drake -- like so many other Californians -- went east.

The Drakes and their two young daughters moved from the booming French Valley area in southwestern Riverside County to a quiet Colonial town outside Durham, N.C., where they could buy 'twice the home for half the price.'

But less than a year after the move, the Drakes -- deflated by a higher-than-expected cost of living and the area's lack of cultural diversity -- say they can't wait to return to Southern California."

Yet "Those returning to California often are stunned by how quickly home prices have gone up."

"'They move...and pay cash (for a new home). When they decide to come back, they can't afford to come back,' said Theresa Lino, a real estate agent with Prudential California Realty in Moreno Valley."

Thanks to g edward freeman

Full Story: Boomerang effect

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