This is a very important question for two reasons:
1) It will determine whether or not you will continue to buy more properties;
2) It will be helpful to predict when will be the best time to sell your property.
We cannot foresee future, but we can guess. It is still useful.
There is already ~20% appreciation over the bottom which was around April 2009 in most parts of Southern California. I believe there is still big room to increase for several reasons.
1) There was an overly correction of the house value. Houses in inland area were devalued by more than 60%. Price is below the cost.
2) Building material cost continues to increase dramatically. According to builders, plywood price has increased by 50% over a year.
3) Population is expected to continue to grow in Southern California.
2) Building material cost continues to increase dramatically. According to builders, plywood price has increased by 50% over a year.
3) Population is expected to continue to grow in Southern California.
My guess is:
Inland area : 70%
Other area: 50-70%.
And what is your quess? We have to wait to see the real answer in 5-7 years.
