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Old 12-04-2012, 02:08 PM
 
4 posts, read 6,359 times
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Hello,

My wife and I are considering moving to LA in the near future. We have around a $260K budget and are looking to purchase a property (small house/condo/apt). Is this feasible? If so, are there any decent neighborhoods anyone can recommend in that price range? Any other thoughts are welcome too.

Thanks for the insight.
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Old 12-04-2012, 02:26 PM
 
Location: Full Time: N.NJ Part Time: S.CA, ID
6,116 posts, read 12,604,049 times
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-where in "LA"?
-$260k is doable for a 1-bedroom condo (read: apartment), possibly 2 bedroom. Single family - ehh - will be tough, really need to know where you're looking.

-Where will your jobs be?
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Old 12-04-2012, 02:43 PM
 
4 posts, read 6,359 times
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Quote:
Originally Posted by 1200RT View Post
-where in "LA"?
-$260k is doable for a 1-bedroom condo (read: apartment), possibly 2 bedroom. Single family - ehh - will be tough, really need to know where you're looking.

-Where will your jobs be?
My job would be downtown and my wife would most likely work from home. I wouldn't mind a 40-50 min commute, and prefer living in a smaller space/nice neighborhood than larger/crappy neighborhood.
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Old 12-04-2012, 02:49 PM
 
Location: Las Flores, Orange County, CA
26,329 posts, read 93,779,981 times
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6842 QUAKERTOWN Ave, Winnetka, CA 91306 | MLS# SR12144026 | Redfin

14725 WYANDOTTE St, Van Nuys, CA 91405 | MLS# TR12139487 | Redfin

from

Real Estate Search | Redfin
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Old 12-04-2012, 05:46 PM
 
4,538 posts, read 10,632,544 times
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Depending on the time your job starts, you might find a SFR in Simi Valley or Canyon Country areas. 45 minute commute leaving at 530am, hour plus after that. There are trains and express buses from those locations. About an hour commute that way also.
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Old 12-04-2012, 05:54 PM
 
Location: SoCal & Mid-TN
2,325 posts, read 2,652,719 times
Reputation: 2874
You might want to check areas that are on the Metro subway/light rail line since you are working downtown. For your budget you're going to have to be quite a way from the city center. Here is a link to their website - look under Metro Rail:

LA Metro Home | Maps & Timetables

That will give you an idea where the rail lines run. There is also Metrolink which is AmtraK and covers areas farther out:

Train Routes | Metrolink
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Old 12-04-2012, 06:58 PM
 
Location: Windermere, FL
268 posts, read 890,335 times
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$250k is a good deal for these two dumps....
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Old 12-04-2012, 07:46 PM
 
Location: Los Angeles (Native)
25,303 posts, read 21,463,616 times
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Interesting how the market seems like it has already gone up quite a bit..there were many much larger homes in these areas for the same asking prices or less just last year.


Sadly even with this "housing crisis" L.A real estate is still unaffordable ..I think there was a report saying less than 44% of people in L.A can buy a home.

The myth of the "high wages" that one can earn in L.A turned out to be BS.
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Old 12-04-2012, 08:10 PM
 
4,538 posts, read 10,632,544 times
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LA Times

What I find amazing is that the above property....there has not been one single action taken to resolve this loft by the bank. That is, no Notice of Delinquency, no eviction, no foreclosure, no auction, no nothing. For YEARS now.

Doesn't anyone wonder how many more of these there are? NO ONE KNOWS because they aren't measured in any report.

This is the shadow inventory that's impossible to quantify. I wonder if any REA have any comments to make?
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Old 12-04-2012, 08:24 PM
 
Location: Los Angeles (Native)
25,303 posts, read 21,463,616 times
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Yeah I know it is amazing , I know this happens in other states as well. It seems so crazy though. Only thing I can think is the lenders sitting on the property because they hope prices will go up.

Pretty surprising how screwed up everything is.

This is kind of a funny quote..I don't get how this has anything to do with anything

"He had the loft way more decorated and lived-in than I had it when I lived there, window treatments and everything.”
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