Los Angeles (Santa Ana, Anaheim, Huntington Beach: real estate, houses, condo)

[fastfilm]

Originally Posted by Sorcerer68

Funny, none of those 3 apply to me and I love L.A.

But you don't live here now! I posted the qualification "liveable." I also posted the above poll, which seems to prove even on this informal level that most of America would not qualify for a home loan to live specifically here.

[Sorcerer68]

Originally Posted by fastfilm

But you don't live here now! I posted the qualification "liveable." I also posted the above poll, which seems to prove even on this informal level that most of America would not qualify for a home loan to live specifically here.

I'm over there a lot...I only left 3 years ago. I've lived there on and off for 38 years.

I don't know where you get your info about needing to make 100k to qualify for a home. I can point the way to perfectly nice, liveable homes under 400k, condos from the 250's. Remember, I'm coming back because I miss my L.A. quality of life. Let's agree to disagree.

[Sorcerer68]

P.S....
I'll be back in a month and I'm jumping for joy!!!

[fastfilm]

Fine by me, agreeing to disagree is a good attitude. My sources were the financial industry stats frequently listed in the Real Estate sections of the various media here. I believe that now, with the slight dip in prices, one only has to earn $101,000.00 per annum as a single wage-earner to qualify for a loan for a median-priced home in L.A. That lets me out bigtime! Good thing I bought a house decades ago (not everyone wants to be in a condo for eternity. Remember, I love old historic houses too.) I post things like the poll above for the benefit of relocators who didn't buy into our expensive market decades ago. Perhaps this helps with "sticker shock."

Overall, I like how this poster put it about living in L.A.:

Originally Posted by dodomaster

The quality of life all depends on your tolerance level and the your station in life. If you are young, single, and no kids, but with loads of cash, yes LA is the place for you. However, if you have a family that you want protected, kids that you want educated, a neighborhood where you feel safe and not intimidated and most importantly, a quality of life that is genuine, socializing with geniune people, discovering real Americana, then back East is definitely something to think about. Living in SoCal taught me how to live with fear of crime, how to deal with mediocrity, how to deal with high cost of living, and sadly, how to accept the degradation of neighborhoods where I grew up due to lawless immigration.

This quote hit home reminding me of a comment by a European friend, who said he was sad to think of us living in a such a hostile, dangerous place (the only area we could afford) because one's home is supposed to be one's sanctuary of sorts. The above quote's last sentence in particular would echo my findings too.

[OCCASparky]

Originally Posted by Sorcerer68

I'm over there a lot...I only left 3 years ago. I've lived there on and off for 38 years.

I don't know where you get your info about needing to make 100k to qualify for a home. I can point the way to perfectly nice, liveable homes under 400k, condos from the 250's. Remember, I'm coming back because I miss my L.A. quality of life. Let's agree to disagree.

WHERE? Got links on realtor or other sites?

[Sorcerer68]

Originally Posted by OCCASparky

WHERE? Got links on realtor or other sites?

Try the recently gentrifying areas of Long Beach like Craftsman Village and the East Arts District or any of the fabulous landmark buildings by the water. Everything I suggest is within a mile from the beach. Condos from the low
200's, small SFR from the high 200's. Look in 90813 and I'll tell you if the block is liveable or not. 90812 has some, one gorgeous house in particular is 387k. This is in the Willmore District which is pretty quiet. It varies, you have to take it street by street. Craftsman Village has been really doing wonderful things for their district. Rose Park is another historic district a little further east. Prices are a little higher, neighborhoods a little better. LB is a well kept secret. If I don't buy this house in Pasadena, I've got my eye on a forclosure SFR I can pick up for under 300k.

[Sorcerer68]

Originally Posted by fastfilm

Fine by me, agreeing to disagree is a good attitude. My sources were the financial industry stats frequently listed in the Real Estate sections of the various media here.

I'm a Realtor so I always take those with a grain of salt. Stats can be made to say whatever you want them to. Average a 2mil home with a 400k home and you have $1,200,000. That said, I know homes aren't the price of crackerjacks in Los Angeles. I'm skeptic of any polls. One thing the current stats aren't showing: the number of homes sitting that aren't selling. Only SOLD homes are reflected in current stats. Number of sales have dropped. Now is the time for buyers to make a killing as sellers are desparate.

Apples must be compared with apples. You'd be surprised how many people I get into homes over here in the pricier islands. They'd love homes as cheap as the ones in L.A.

Anyone here struggling to make their mortgage (or rent for that matter) might consider buying a place with a rental unit or two attached. Why? I'm looking at a nice old victorian house with rental units and an owner's unit. If I buy it, the rents will pay my mortgage. Might as well make stiff rent work for you instead of against you. Also, I'll have about 3 times the long term equity I would from buying a smaller place. Buy in the right spot and you can get substantial tax breaks AND amazing financing. Read on: One big mistake people make is listening to a mortgage broker or bank who tells them no. Take it from me and I have terrible credit...it's possible. I call everyone in town until someone says "yes". Being in the business, I have lots of contacts. I do this for my clients as well. Many don't know of the types of financial programs available. In "disadvantaged" areas (according to 2000 census), a program is available to get a 5% interest only, 97% LTV NO QUALIFY loan. I wouldn't recommend this for anyone keeping the property a short time. If you plan on keeping it a while, it's a sweet thing. Areas included are north Pasadena, Highland Park, Mount Washington, Echo Park, Westlake (L.A.), 2/3 of Long Beach and of course the usual suspects. Good mortgage brokers will tell you these things. What's more, if you find a property that will appraise for more than the purchase price and get the seller to wrap the closing costs, you can get in for zero down and maybe even get cash back. There...you guys get this for free, I've made my investors millions. I've also helped dozens of lower income people get into houses.

[lovethecarolinas]

Originally Posted by Sorcerer68

Try the recently gentrifying areas of Long Beach like Craftsman Village and the East Arts District or any of the fabulous landmark buildings by the water. Everything I suggest is within a mile from the beach. Condos from the low
200's, small SFR from the high 200's. Look in 90813 and I'll tell you if the block is liveable or not. 90812 has some, one gorgeous house in particular is 387k. This is in the Willmore District which is pretty quiet. It varies, you have to take it street by street. Craftsman Village has been really doing wonderful things for their district. Rose Park is another historic district a little further east. Prices are a little higher, neighborhoods a little better. LB is a well kept secret. If I don't buy this house in Pasadena, I've got my eye on a forclosure SFR I can pick up for under 300k.

I grew up in Long Beach CA and only moved away 3 years ago too. While I think LB often times gets a bad rap (as there are really some very nice spots to live within Long Beach). I will go onto to say that while for an investor the area of 90813 might look like a good option to make some monies...this would not be an area that I would suggest to someone with a family to plunk down their hard earned cash. Oh...and lastly...Long Beach does not have a zip code of 90812?

[Sorcerer68]

I meant 90802, the above home is for sale there. My typo. I agree 90813 can be ratty but it does have some islands of beauty like Craftsman Village. Those of us who know LB know the further east and closer to the ocean, the better it gets.

BTW Lovethecarolinas, how do you feel the downtown LB redevelopment is progressing?

[the buildings]

Originally Posted by SURCALIFAS

YES BUT THEIRS ALOT OF THINGS WRONG ON THAT LIST. ALOT OF THOSE GANGS ARE NOT AROUND NO MORE AND THOSE ARE GANGS SPREAD OUT THROUHOUT THE WHOLE CITY

THERE ARE ONLY THREE GANGS IN THAT LIST ALL THE REST ARE CLICKS OF THOSE GANGS.THESE ARE SOME NORTH EAST LA NEIGHBORHOODS.THE AVENUES, TOONERVILLE, FROG TOWN, SURENOS(IN EAGLE ROCK), HIGHLAND PARK HLXP,DOG TOWN, CYPRESS PARK BOYS,GLASSEL PARK RIFA, ATWATER LOCOS, THEE RASCALS, EAST SIDE CLOVER, MP13 a mix of flips and mexicans, then there is EL SERENO RIFA, LOWELL ST,EAST LAKE, HAPPY VALLEY, LINCOLN HEIGHTS, the flip gangs are PINOY REAL, ASIAN BOYZ, and some west side gangs, EIGHTEEN ST, CLANTON 14st