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Old 03-11-2013, 09:58 PM
 
Location: Miracle Mile, CA
68 posts, read 168,960 times
Reputation: 68

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Agree with your list except for North Hollywood. That is not so cut and dry. As many have mentioned Oxnard St is a good cut off. But honestly south of oxnard and heading south, many areas are quite nice. Zip codes 91601 and 91602 parts of North Hollywood are good options.

Quote:
Originally Posted by kttam186290 View Post
LIVE HERE:
Encino
Tarzana
Granada Hills/Knollwood
Studio City
Valley Village
Sunland/Tujunga
Shadow Hills
Woodland Hills
West Hills
Porter Ranch
Lake Chatsworth
Calabassas
Topanga Canyon
Agoura Hills
Sherman Oaks
Lakeview Terrace
Toluca Lake
Burbank
Winnetka

NOT HERE! :
Van Nuys
Panorama City
North Hills
Mission Hills
San Fernando
Pacoima
Sun Valley
North Hollywood
Sylmar
Reseda
Northridge

basically, take a map of the Valley and any of the communities around the edges are good, while the middle is not so good. Facts are facts. Sorry if this isn't PC but it's honest. School rankings will back up my post.
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Old 03-11-2013, 11:20 PM
 
374 posts, read 721,774 times
Reputation: 359
Paying cash for your primary residence at current interest rates is pretty dumb.
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Old 03-12-2013, 12:22 PM
 
Location: Silicon Valley, CA
13,561 posts, read 10,356,919 times
Reputation: 8252
Quote:
Originally Posted by MBD37 View Post
I had planned on buying instead of renting simply because I figured I'd only be there for two maybe three years max. I also don't want to pay capital gains tax and I think the only legal way to do that is to reinvest in real estate. I'd imagine HOAs are maybe $200 - $600 month maybe?

I'm totally okay with the place itself being old and crappy (it's just me)... I was just hoping to get in a decent area. Looks like that'll be hard though.

A couple people had said stay south of Magnolia St and Oxnard St. From what I gather that basically means the closer you can get to any of the hills the better you'll be. I take it N Hollywood is bad too?

I'll be working in Studio City. I'm not worried too much about drive time because I'm used to a 90 min commute now.

Thanks for your help everyone, and I apologize for being wordy... that's just how I roll.
]

If you're going to be just living for 2-3 years - you'd be better off renting. Buying only pays off really over a longer term.
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Old 03-12-2013, 01:53 PM
 
Location: Los Angeles (Native)
25,303 posts, read 21,458,447 times
Reputation: 12318
Not necessarily... home prices can go up significantly in 2-3 years. You would have to factor in the transaction costs of selling though. But prices will most likely tread up rather than down in the next 2-3 years.

Plus if you have a profit after living in a property for two years your gains are tax free.
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Old 03-12-2013, 02:26 PM
 
Location: Silicon Valley, CA
13,561 posts, read 10,356,919 times
Reputation: 8252
Quote:
Originally Posted by jm1982 View Post
Not necessarily... home prices can go up significantly in 2-3 years. You would have to factor in the transaction costs of selling though. But prices will most likely tread up rather than down in the next 2-3 years.

Plus if you have a profit after living in a property for two years your gains are tax free.
OTOH, if you dislike the place and need to unload it sooner, or lose the job, that could be problematic.
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Old 03-12-2013, 03:39 PM
 
Location: Los Angeles (Native)
25,303 posts, read 21,458,447 times
Reputation: 12318
Yeah true. I guess it just seems like there are probably a lot of people that intend to rent a couple years and then get totally priced out and miss out on any appreciation. You could try to find something that could be rented out to cover costs mortgage, insurance, Hoas,etc. but that's kind of tough sometimes.
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Old 03-12-2013, 10:14 PM
 
4,538 posts, read 10,629,904 times
Reputation: 4073
Quote:
Originally Posted by jm1982 View Post
Yeah true. I guess it just seems like there are probably a lot of people that intend to rent a couple years and then get totally priced out and miss out on any appreciation. You could try to find something that could be rented out to cover costs mortgage, insurance, Hoas,etc. but that's kind of tough sometimes.
Stop listening to NAR for your real estate advice.

Try here instead:

What should you pay for a house?

and here:

Dr. Housing Bubble Blog

Both are California oriented sites.

The idea that you'll get "priced out of a market and miss out on any appreciation" is ridicubad, and even worse in your specific situation since you only intend to stay in the area for 2-3 years.
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Old 03-13-2013, 12:59 AM
 
Location: Northridge/Porter Ranch, Calif.
24,511 posts, read 33,312,803 times
Reputation: 7623
Quote:
Originally Posted by kttam186290 View Post
LIVE HERE:
Encino
Tarzana
Granada Hills/Knollwood
Studio City
Valley Village
Sunland/Tujunga
Shadow Hills
Woodland Hills
West Hills
Porter Ranch
Lake Chatsworth
Calabassas
Topanga Canyon
Agoura Hills
Sherman Oaks
Lakeview Terrace
Toluca Lake
Burbank
Winnetka

NOT HERE! :
Van Nuys
Panorama City
North Hills
Mission Hills
San Fernando
Pacoima
Sun Valley
North Hollywood
Sylmar
Reseda
Northridge

basically, take a map of the Valley and any of the communities around the edges are good, while the middle is not so good. Facts are facts. Sorry if this isn't PC but it's honest. School rankings will back up my post.
The northern part of Northridge is fine (Nobel Jr. High is one of the best Jr. High schools in LA). I'd rather live there than in Winnetka or Sunland.
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Old 03-13-2013, 01:48 AM
 
374 posts, read 721,774 times
Reputation: 359
Quote:
Originally Posted by JohnG72 View Post
Stop listening to NAR for your real estate advice.

Try here instead:

What should you pay for a house?
That is one of the least up to date articles I've read in a long time.
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Old 03-13-2013, 07:44 AM
 
4,538 posts, read 10,629,904 times
Reputation: 4073
Quote:
Originally Posted by Ingenere View Post
That is one of the least up to date articles I've read in a long time.
The fundamentals really don't. What has changed is the amount that interest is and what you can earn on money.

But negatively countering that is that prices have risen and the amount of inventory for sale is abnormally low.

Still one should be educated on what the current outside influences on a market are and not blindly accept long disproved cliches such as they are gonna be "priced out forevah".

If one still wishes to put cash down, or accept the risk that a high priced/low interest rate environment provides, at least they've now made an educated decision.
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