As part of collocation I chose FM. Is entire region such as El Dorado Hills, Granite Bay,and surrounding areas reliant on Intel? In other words if and when Intel heads downhill, will the entire region tank? Wondering whether to buy or rent.I will avoid FM town itself if I buy.
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I would suggest you buying condominium in empire ranch near golf course initially so that way you don't invest too much and with current low interest rate monthly mortgage including property tax would be < 1400. Once settled you can buy house based on your needs and easily rent condominium for stable monthly income. Thats what I did. Condominiums near golf course are very nice.
...as an add-on suggestion, since Brexit has greatly impacted TNX might I suggest since mortgage interest rates will be declining through October that you rent in Folsom for a few months so that you can make an intelligent decision on whether or not you wish to buy within the city or one of the outer lying areas. There really is no rush to buy right now, it's not as though our home values are going to plummet right away, and the best time to buy is actually in the fall despite what some say about spring...in the fall you might have less inventory to choose from but you tend to get better rates and lower sales prices...also, since there was a large RIF in June/July here in FM, people might look to put their homes on market in Fall to relocate and be settled by the holidays so there might be some great real estate opening up here Oct/Nov. Good Luck!
Folsom is one of the most boring towns on this earth. I assume you will find something.
not quite sure what @coz is talking about, clearly doesn't live here. YES! Intel has a HUGE impact on housing prices here in the city of FM itself. You can validate this by simply going to Zillow and pulling the home sales prices for this zip code (95630) spanning over the past 10 years and then comparing the trend to the last few large RIF actions at Intel. The housing prices here dipped DRASTICALLY after the SET action (2006/2007) and again when there was job losses due to recession in 2008 - 2013. Home prices were the absolute worst in 2011 - I lost 100K in equity in 1 year. But, now I have almost 175K in equity (because I bought smart) so the market here has rebounded. Having said that, there are many other major employers who have moved into the outer lying areas such as Blue Shield in El Dorado HIlls, Amazon, Oracle is in Rocklin which helps Rocklin/Granite Bay which are so closely located to Folsom that if you do buy a home here, you are not far from other major employers.
ALSO, Folsom is considered one of the premier suburbs to live in here in Sacramento. This city has a lot to offer in way of new development and we are next to the lake and river which offers a vast amount of natural greenspace for activities. And the schools here are excellent, and so if Folsom Lake College (if you have kids). You definitely can't go wrong buying either in Folsom, EDH, Roseville, or Granite Bay if you do choose to relocate here. I personally chose to buy in Folsom because working at Intel its only a 5 minute commute, but also because its nice to be so close to HWY50 which makes it easier to commute to the bay area or up the hill to Tahoe versus the Roseville side, which is closer to the 80 but still feasible for Bay Area commute and easier to get to Reno side of Nevada....
Hope this helps!
California state is major employer. Lot of state employees live in Folsom plus doctors and other high income earners.
Intel is very small contributor to the housing market in that area. Unless of course, you mean apartments, town houses or condos across the street from the office. Otherwise, there are an abundance of employers/businesses in that region.