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Old 03-29-2006, 08:57 AM
 
41 posts, read 284,226 times
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Hi,
My husband and I are considering moving from NJ to CA. Prices and taxes are crazy here, but we have a great economy. We have no children and are not concerned with the local school districts. I was wondering if anyone had any suggestion on a safe area that would be considered affordable by CA standards? Also, what would be considered a fair monthly mortgage payment for this area? (We have contacted a few owners regarding lease purchases/owner financing with payments of about $2300 a month, is this the norm?) Thanks for your help!
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Old 03-29-2006, 10:35 AM
 
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Yes, that would be the norm for a safer area in Los Angeles. If you meant areas outside of Los Angeles, please check in with the experts there.

California is such a huge state, I'm always baffled when people say they want to move there. Move where? Here's a joke oversimplifying our statewide differences: California has 3 separate parts; Log-land, Fog-land and Smog-land!
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Old 03-29-2006, 10:52 AM
 
41 posts, read 284,226 times
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Default Thanks for the reply!

Thanks for the reply! We're looking into the general (although vast) Los Angeles area. A few years back we made the mistake of moving into a neighborhood in Florida that was infested with gangs (and red ants...I'm not sure which was worse). This time, we're doing our homework, checking stats etc. However, I've found it to be best to acutally ask the locals...who would know better? Thanks again for your input!
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Old 03-29-2006, 11:12 AM
 
1,398 posts, read 6,019,301 times
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The famous California property tax reduction only applies to properties purchased before 1978, so do that homework regarding taxes if you're looking for home ownership.

Please be a little more specific as to what you want in Los Angeles. Most people move here for the climate, the motion picture industry work or the ease of staying anonymous.

Please check my other posts here for my take on my home of fifty years, but bear in mind I represent a poorer demographic than a lot working professionals who can afford a better life here.
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Old 05-10-2006, 03:34 PM
 
104 posts, read 105,110 times
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Quote:
Originally Posted by FL80
Hi,
My husband and I are considering moving from NJ to CA. Prices and taxes are crazy here, but we have a great economy. We have no children and are not concerned with the local school districts. I was wondering if anyone had any suggestion on a safe area that would be considered affordable by CA standards? Also, what would be considered a fair monthly mortgage payment for this area? (We have contacted a few owners regarding lease purchases/owner financing with payments of about $2300 a month, is this the norm?) Thanks for your help!
Yes. My wife is a RE Broker. This is normal for the most part. Apple Valley, Hesperia, Barstow, Victorville maybe a bit lower.
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Old 05-12-2006, 02:33 PM
 
1,735 posts, read 4,137,914 times
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Quote:
Originally Posted by fastfilm
The famous California property tax reduction only applies to properties purchased before 1978, so do that homework regarding taxes if you're looking for home ownership.
The property tax is based on the purchase price, although it can increase if you improve your property, like a room addition, pool etc. Basically if you pull a permit then the property will be reassessed and your taxes will go up.

The rate of tax increase is limited to no more that 2% per year from the date of purchase. So if you bought in say 92 and paid $190k for your house and now itís worth $675k you are still taxed based on the purchase price of $190k. If you buy now at $675k and it goes up you will still pay based on the purchase price.
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Old 05-15-2006, 07:52 PM
 
2,536 posts, read 8,191,674 times
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[quote=FL80]Hi,
My husband and I are considering moving from NJ to CA. Prices and taxes are crazy here, but we have a great economy. We have no children and are not concerned with the local school districts. I was wondering if anyone had any suggestion on a safe area that would be considered affordable by CA standards? Also, what would be considered a fair monthly mortgage payment for this area? (We have contacted a few owners regarding lease purchases/owner financing with payments of about $2300 a month, is this the norm?) Thanks for your help![/QUOTE

your thinking about moving from NJ to CA...what's that old saying....Jumping from the frying pan into the fire (that is what came to mind when I read your post). I spent most of my life in Southern CA (L.A. county) up until a little over 2 years ago. The home we sold there....we could not even have come close to paying what our buyers paid for it (much less the property taxes that increased when they purchased it). We were in our home only 6 years and made a very nice little profit....I'm told many of the areas seem to be topping out (price wise) and days on the market are taking longer. My advice would be either look some place else other than CA, or at least wait a couple of years to see if the prices come down there. Here's one last thought...odds are if you have watched the news through the years in NJ there is probably one city that you have seen or heard of that has a notorious reputation in CA...okay...just in case I will provide you with a couple...say...Compton...Lynwood...now go to a Realtor site and type in one of these cities and see what you get for your dollar there.... If they get that much for those houses in these areas...can you imagine what you have to pay to live in a half decent area.
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Old 06-07-2006, 02:39 PM
 
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RedNC is correct. Property taxes will be based on purchase price. I still own a house purchased in 1990 for $150,000 (no... that is not a typo!) and the taxes are about $1100/yr. The house is now valued at $450,000 and is under 1,300 sq. ft. Man.... if I knew then, what I knew now...
As a lifelong Californian, I have found that the definition of "nice" certainly varies from "person to person" and "place to place". In San Francisco, it can be "nice" to just have a parking space. In Venice, it's "nice" to have a small patio. In San Diego, it's "nice" to have a swimming pool. In Fresno, it's "nice" to have a green lawn. In Los Angeles, it's "nice" to feel safe walking through your own neighborhood. As a suburbanite, I think it's "nice" if my neighborhood resembles resort living. I like sidewalks, community parks, a backyard spa, beautiful landscaping, neighbors who care about curb appeal and take pride in their homes, and rooms with a view (of a golf course, mountain, or body of water). If your idea of "nice" is like my idea of "nice" and, for the mortgage amount you are speaking of, I would suggest you check out the Murrieta/Sun City/Temecula/Winchester area. I believe you will be pleasantly surprised!

Last edited by TriciaK57; 06-07-2006 at 02:47 PM..
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Old 06-07-2006, 10:32 PM
 
4 posts, read 31,394 times
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I found a website that's pretty neat for checking the neighborhood.

http://www.wikimapia.org/

you can add tags to interesting places on map to help other identify them. It's also a great way to kill time in office when the boss isn't around.
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Old 11-14-2007, 04:24 PM
 
1 posts, read 14,175 times
Reputation: 10
Smile Bay Area

Quote:
Originally Posted by FL80 View Post
Hi,
My husband and I are considering moving from NJ to CA. Prices and taxes are crazy here, but we have a great economy. We have no children and are not concerned with the local school districts. I was wondering if anyone had any suggestion on a safe area that would be considered affordable by CA standards? Also, what would be considered a fair monthly mortgage payment for this area? (We have contacted a few owners regarding lease purchases/owner financing with payments of about $2300 a month, is this the norm?) Thanks for your help!

The reason you should be concerned with school districts is home values are highly determined by test scores in the school districts. Higher test scores in districts makes for a much desirable neighborhood. The neighbors are better, crime rates are lower, and your home is more likely to go up than down like other areas in california where house prices are rapidly decreasing.

Finding a condo in CA is great right now, that's how you can live in a desirable neighborhood with TONS of amenities, and pay a smaller mortgage. Anything close to BART in the bay area (a great place to live) is a great amenity, it's our public trasit. The closer you are to the city, the more desirable it is to live. However, living close to the city is determined also by the facility in public transportation to the city.

Living in nice neighborhoods in the east bay is great right now. They have some of the very few neighborhoods in California right now that are actually APPRECIATING in value, while most areas tend to be depreciating. If you have any more questions, write me.
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