Least 'Ghetto' middle-class town in Los Angeles County? (Long Beach, Garden Grove: apartment, renter)

[Chowhound]

Originally Posted by Ultrarunner

I bought my home just before the real estate crash... 1725 square feet, ranch style with original formica counters and linoleum floors and paid 598k

My tax bill is almost $10,000... yet many will post that California Property Taxes are too low.

Prop 13 only sets the statewide rate at 1%

There are hundreds of local taxing districts in California and this is why my rate is pushing 1.7%

I would never want to return to the pre Prop 13 days where double digit tax increases occurred and even though I was not old enough to vote back in 1978... I'm glad the voters of California had the sense to make Prop 13 law and that the Supreme Court has upheld it.

Buckle up, cause I hear that there are movements to abolish prop 13...... I've heard rumblings for a few yrs now...

It would be the stupidest thing ever... but there is an omnipresent hunger for more and more tax base... got to fuel those public employee unions... with their over the top bennies.....

[Ultrarunner]

Originally Posted by Chowhound

Buckle up, cause I hear that there are movements to abolish prop 13...... I've heard rumblings for a few yrs now...

It would be the stupidest thing ever... but there is an omnipresent hunger for more and more tax base... got to fuel those public employee unions... with their over the top bennies.....

I guess anything is possible...

On the one hand we hear about all this money property owners save on prop 13 and how the State really needs it more than the people that earned it.

Then we here Prop 13 is responsible for high Real Estate prices... so if Prop 13 went away, prices would fall... so just how much more money do they really think will come into the State coffers?

Then there is a group that wants to tax non-owner occupied property at much higher rates... which makes me wonder just how this will affect the availability of rental homes...

Many forget there would be no Prop 13 if the State would have simply indexed the homeowner exemption for inflation... a $7500 exemption really meant something when a modest home could be bought for 12 to 15k... means nothing when a modest home costs 300k or more...

[majoun]

Originally Posted by Vicman

Great post! Thank you for the information! Yes, Texas is very heavy on property and sales taxes, so it means if you are low income you can live frugally and pay few taxes.

You're very welcome.

I would have also linked to this WSJ article about how the wealthy are favoring renting rather than ownership if it had appeared when I made my previous post. Rising prices and rising mortgage rates are factors. The article does not mention Los Angeles but it mentions other similarly very expensive markets in which renting is more advantageous than buying. (e.g. San Francisco, Honolulu, etc.)

Jumbo Jungle: When Shoppers Say No to the Jumbo - WSJ.com

[Ultrarunner]

Renting just about always gets you into a better property/neighborhood than buying.

For some I know it is the reason they continue renting... they cannot afford or are unwilling to make the sacrifice to own in a neighborhood they desire and renting is a lower cost alternative...

On the other hand, I come from peasant farmers where owning was everything... from a young age... as in 5 or 6 years old I always heard I needed to save so I could go to college and buy a home.

When I worked after college in Germany for 6 months... I met many that were living in property that had been in the family for hundreds of years and others where no one in the family had ever owned property.

There is no right or wrong and it really comes down to a lifestyle choice for many.

When I bought my first home... I scoured the MLS listings for the lowest listed single family homes in the area... some of my friends from high school did the same while others were living in swanky buildings... simply living the lifestyles we choose.

Don't forget those of low or no income can also live in single family homes and sometimes for generations with programs like Section 8.

I know a family that has lived 21 years in a 3 bedroom 2 bath home and pay $201 a month... the home across the street recently sold for $399,000 and that young family needed $45,000 to close and have a $1,800 mortgage payment plus $500 monthly property tax... so $2,300 a month... not counting maintenance.

[thelopez2]

Originally Posted by luvca

i'd value more the recommendations that are south and somewhat west of the Valley

West of the Valley? With the time and gas you spend driving, you can get a second minimum wage job and make up the difference. West of the Valley is very far or very expensive, which valley are you talking about?

Originally Posted by Chowhound

Buckle up, cause I hear that there are movements to abolish prop 13...... I've heard rumblings for a few yrs now.

They'll get rid of it, prices will drop, people will flee their homes. They'll sell to investor with cash that will close fast because prices will drop like a rock. The faster they close the less money the seller will lose. There will be a downturn in the market. Do you know who are the only people that buy in a down market, investors. Property taxes % will go up, prices will fall. An investor will buy a home for $500,000 then they will buy the house next door for $400,000. Now both of their homes get taxed at $400,000. People start shorting their homes "AGAIN" now for $300,000, investors buys more homes, gets reassessed down to $300,000.

Politicians say where did all of our new revenue go? People stop paying their property taxes and say take the house. Renters says, why is my rent so high? It is due to lack of inventory. Politicians say okay lets put back prop 13, Too late, the NY hedge fun investor isn't selling, they are happy with their locked in property taxes basis at $300,000. Now even harder for someone to buy.

Sorry for the poorly structured rant.

Originally Posted by genjy

Lancaster gets my vote.

Is your vote for the furthers drive?

[MarciaMarshaMarcia]

Look into Lakewood! My kid's college friends (late 20s) bought a bungalow there. They are hard working middle class and plan to raise their kid there, and they are biracial Asian. Lakewood has not changed much from my days at nearby CSULB.

[luvca]

Interesting difference of opinion, UltraRunner.

Renting just isn't even an option for me. I am an avid horticulturalist, landscaper, aquaculturist and the only time I ever rented in my whole life so far are these past few months.

I moved to NY from CA for college. I stayed in dorms during undergrad, but don't consider that renting as it was part of my partial scholarship and I was there to study at the library moreso that live in a 'dorm' =D

After college I went to grad school and bought my first studio in Manhattan. I sold it 3 yrs later and made $300K in profit. I've done the flipping every 3 years in NY since then for the past decade and it has definitely paid off. To reiterate, I would never rent again because it just doesn't suit my lifestyle - not having at least quarter acre to garden, not being allowed a pond, a big fish tank.. my most passionate hobbies.

And now living in a rental area I see how most renters just don't care much about the property. Many here in LBC seem to be on section 8, foodstamps, and welfare.

I'm aware there's upscale rentals like a $45,000/month (yes, 45k/mo) house in Malibu and think there has got to be a middle point between welfare and sheer luxury.

I dont have kids of my own but sponsor kids and green projects in Asia I visit biyearly so I cant be wasting $ on rent when I could be profiting from each resale and contributing more to global humanitarian and environmental efforts for the next generations on earth.

Lakewood is my backup destination now that Cerritos and even Artesia definitely too rich for my blood.

As for west of the valley, I was referring to west of San Fernando Valley buy yea Western LA County seems more costly and crowded than Eastern LA county but I'm not going too far East, ie, Diamond Bar though beautiful is too far east/inland for me.

Thanks guys.. keep em comin'

[luvca]

What do yall think of:

CYPRESS

ARTESIA

NORWALK

WESTMINSTER

GARDEN GROVE

in terms of middle-income GHETTOLESSNESS and RENTERLESSNESS?

[majoun]

Originally Posted by luvca

What do yall think of:

CYPRESS

ARTESIA

NORWALK

WESTMINSTER

GARDEN GROVE

in terms of middle-income GHETTOLESSNESS and RENTERLESSNESS?

Ask about Westminster, Cypress, and Garbage Grove on the OC board. Westminister and GG are considered among the most ghetto towns of OC with long established gangs.

Artesia has relatively high crime. Norwalk is about average. Both are solidly middle class. (Artesia is very racially and ethnically mixed, while Norwalk is mostly Latino with some non-Latino whites.)

[Harrier]

If you choose Norwalk - stay out of the one-ways.