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Old 08-16-2007, 09:18 PM
CLQ
 
207 posts, read 769,427 times
Reputation: 108
Quote:
Originally Posted by ness View Post
Most friends of mine in the area pay 1,300+ for rent a month while my mortgage is 1,600 a month.
Right now, a 1960s 1000 sf 3 bed 1.5 bath home, small backyard in a city with not the best of schools 25 miles from downtown for 500-550K, a mortgage would be more than double what you pay factoring in closing costs and that's an interest-only 30-year fixed.
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Old 08-16-2007, 09:45 PM
 
309 posts, read 1,003,586 times
Reputation: 78
Quote:
Originally Posted by CLQ View Post
Right now, a 1960s 1000 sf 3 bed 1.5 bath home, small backyard in a city with not the best of schools 25 miles from downtown for 500-550K, a mortgage would be more than double what you pay factoring in closing costs and that's an interest-only 30-year fixed.
is that with 20% down? I never buy houses without 20% down. I consider a starter home a 2 bed, 1 bath under 1,000 square feet and you can still get that around here for about 450,000. I know alot of people would rather rent a larger home than buy a 2 bed,1 bath but I'd rather own what I live in and live in something smaller...but that's me. Everyone has different priorities.
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Old 08-16-2007, 09:54 PM
 
Location: Huntsville, AL
1,389 posts, read 2,746,534 times
Reputation: 900
The only reason I have stayed in California as long as I have is, both my husband and I were born and raised here, and our parents are here. I wouldn't have ever chosen to live here, but it is a big step to move away from family and the only home you've ever known.

However we are headed for Alabama now and I am excited about the move. With the money we save I will take trips out here at least once a year and enjoy California as a visitor to see my parents and to enjoy my hometown. Then I will go back home to my larger, newer, more enjoyable house in a less congested area.
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Old 08-16-2007, 10:10 PM
 
309 posts, read 1,003,586 times
Reputation: 78
Quote:
Originally Posted by zenjenn View Post
The only reason I have stayed in California as long as I have is, both my husband and I were born and raised here, and our parents are here. I wouldn't have ever chosen to live here, but it is a big step to move away from family and the only home you've ever known.

However we are headed for Alabama now and I am excited about the move. With the money we save I will take trips out here at least once a year and enjoy California as a visitor to see my parents and to enjoy my hometown. Then I will go back home to my larger, newer, more enjoyable house in a less congested area.
You sound just like me. Dh and I are considering a move to WA state for similar reasons. We are talking about having kids and I am having trouble picturing raising them in all this smog, congestion, and with all the financial struggles....but we'll see.
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Old 08-16-2007, 10:29 PM
 
18 posts, read 1,336 times
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Unless you are making a very big income you dont really have a chance of owning a home in a good area that is safe.I would not reccomend anyone move here.you see all these actor want to be kids who move out here and stay a year or two chasing a fruitless dream and then move away.The good areas of LA have home costs over a million dollars.I do not know how much money you would need to make a year to afford that but I know the average family makes no where near that amount.I amconsidering moving to Florida because cannot stand to live in a cold state.I dont think California with congestion,crime,high tax is that great a place to live anymore and I grew up in the Inglewood area before the crime moved in and the gangs took over.
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Old 08-17-2007, 11:04 AM
CLQ
 
207 posts, read 769,427 times
Reputation: 108
Quote:
Originally Posted by ness View Post
is that with 20% down? I never buy houses without 20% down. I consider a starter home a 2 bed, 1 bath under 1,000 square feet and you can still get that around here for about 450,000. I know alot of people would rather rent a larger home than buy a 2 bed,1 bath but I'd rather own what I live in and live in something smaller...but that's me. Everyone has different priorities.
Not many people have $100K in cash for a down payment. Plus, it doesn't always make sense to give this money to the lenders upfront.
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Old 08-17-2007, 11:20 AM
 
Location: Nevada 'bound in 4 more days!
76 posts, read 280,971 times
Reputation: 22
Default Rent vet

Quote:
Originally Posted by SmogBird07 View Post
.I amconsidering moving to Florida because cannot stand to live in a cold state.I dont think California with congestion,crime,high tax is that great a place to live anymore and I grew up in the Inglewood area before the crime moved in and the gangs took over.
My husband and I just bought our first house...we moved in in May. We rented all of our 25 yrs of marriage and have raised 2 boys in various rentals..... our regret was to rent all that time... they don't really have a home they call their own, like we both did when we were growing up. Even though they are grown and starting their own careers the house, to them this is our house not theirs... they have had no history in it.

Its not that we didn't want a house we just could afford to get one, I always hated to pay someone else's mortgage, with the money we paid in rent we could have bought 5 houses over the years. The problem we always had was a down payment and good credit... some of the tough times experienced did damage to our credit...incidentally this credit damage started in California. We didn't have expensive cars, didn't live in fabulous houses or had fabulous furniture, there were no family vacations, etc... our money went to raising our children and keeping them safe, and putting food on the table, paying the rent and utilities... We are both highly educated individuals, but depending on where you live good jobs are hard to come by, and with kids saving money is hard to do. So unless you have someone who will help you out with a down payment, have a good job and are childless you stand a better chance on owning rather than renting. Renting ends up to be a vicious cycle. Better to get started on buying, investing, etc when you are young and single rather than waiting until you get married... thats what I have tried to instill in my kids... once babies enters the picture it becomes harder to save and get ahead.


SmogBird... We moved to Florida 2 years ago, be advised, the pay in Florida is horrible and low unless you are in some technical field... the Shuttle program will be over in 2010, so there will be lots of lost jobs... It is expensive to live here, though not as expensive as California, the real estate is not cheap, groceries are expensive and produce is awful and high priced, its muggy, hot, there are lots of bugs & reptiles and the lightening capital of the world. If you like the outdoors you will not be happy here.
It is not at all like California, the whole atmosphere and people are different, theres lots of retired people so if you are young it may not be the place for you. There are no mountains, the beach is different is nothing like it is in California, and South Florida (Miami, Palm Beach, Ft Lauderdale) where all the action is is just as crowded, crime ridden and congested as LA... I don't hate Florida, I have just found that the south and its just not for me...
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Old 08-17-2007, 01:41 PM
 
26 posts, read 103,301 times
Reputation: 30
Quote:
Originally Posted by desertdawgx View Post
I bet in Tn you can get a decent house for 100k,prices here are falling and in a few ears 300k wil get you a good house.I like the outlying desert areas Lancaster Palmdale as they are much cheaper and still you can take a drive to the beach.Houses that where 350k 2 years ago are now 250k and still falling.Be patient and you will be able to buy here again.However Tn Ky and other states are very nice and 100k to 150k will buy you a very nice place.the question is can you find a job as Californians are not very well liked around the country.
actually we love California people well i do. I'm trying to move to California I like yaw so much!!!LOL I live in Lexington, KY and it is dead here. Ive been here all my life and I cant wait to get out. The crime isn't as high, prices are lower, less traffice problems, but you are bored to death here. I love California and everything about it except of course the crime and triffic!
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Old 08-17-2007, 07:24 PM
 
4,657 posts, read 5,422,399 times
Reputation: 1329
I can't believe that people actually cited "tolerance" as a plus for Los Angeles. I've lived in SoCal, NY, NJ, Alaska, Canada, Florida and now SC and the vacuum of group think in Los Angeles is more prevalent than anywhere else in America. If ones definition of tolerance is to follow lock step with the secular fundamentalist, blame America first crowd and hate anyone who has a divergent opinion, than yeah, LA is tolerant. I'd never seen so many hateful bumper stickers, signs and overall antogonistic sentiment in the 9 years that I was in Los Angeles by a group of people that profess to be tolerant. Liberal Tolerance= America's Greatest Oxymoron. Oh, for the record, I don't believe in unconditional tolerance. That leads to moral relativism, which in turn leads to no moral stance on anything, lest "we offend" anyone, which in turn leads to anarchy. In other words, Los Angeles.

My wife and I had a 1 bedroom apt in Burbank for $1125/month. The day we moved out the rent was raised to $1250. Our brand new 4 bedroom, 2 bath 2000sqft with a 1/2 acre wooded backyard, 15 minutes from the Blue Ridge Mts. was purchased for $181,500. We tell people here in Greenville the price of real estate in LA and they stand with mouth agape in disbelief. I know, I know, you trendy hipsters will point to how "redneckish, hillbillyish it must be here". But guess what you're stuck in the 70's. My wife and I are an ethnically mixed couple and know several others. We know of no problems. We have a brand new Whole Foods (just don't have anti american communists handing out hateful propaganda in the parking lot). The weather is better here than in LA. I can actually see the mountains here. Business is booming here because we don't have a socialist government taxing the heck out of its citizenry.

Anyway, I should stop bashing LA, there were many things I enjoyed in my time in there, great ethnic restaurants, quick service restaurants like In-N-Out, Baja Fresh, El Pollo Loco and The Habit, nice people (native californians), and convenience of everything. Real Estate and "tolerance" were not amongst them. I just get defensive when people call others names because we've chosen to leave. LA is great for a select few, rich young professionals or illegal gang bangers. A recent study showed that Los Angeles has the smallest middle class in America and it is continuing to shrink.

SoCal of the 50's,60's and most of the 70's was a true paradise and when I see the old pictures on this forum I have a true longing in my heart.
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Old 08-17-2007, 08:37 PM
 
Location: Las Flores, Orange County, CA
26,362 posts, read 54,199,434 times
Reputation: 16312
Quote:
Originally Posted by Socal2Bham View Post
I couldn't wait to get back to CA (Pasadena).

Then a funny thing happened, after being away for 3 years and in my early 30's all of a sudden it wasn't so much fun there any more. Traffic was a pain, everything seemed so noisy, too many people, it took forever to get anywhere or to do anything. 6 months later I moved to Birmingham, AL and have found the home for me. It's like a little bit of Pasadena and LA rolled up in a much smaller more affordable city and I can still go to the mountains and the beach on weekends.
A lot of people have realized this. We've read many similiar posts.

For some folks, LA is a "girl";

Other places that are more affordable, have less traffic, and are more family orientated...

are a wife.
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