Bye-bye Silver Lake, hello Pacoima: How one couple tackled L.A.'s sky-high real estate prices (Santa Monica: condo, townhouse)

[jm1982]

Steve Lopez of the L.A Times has reported that a white couple has purchased a home in Pacoima.

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“When we looked at what we could qualify for and still be in Los Angeles, that was Pacoima, San Fernando and Sylmar,” said Steve. “I thought, ‘Well, it’s a fairly blue collar area. It’s not Beverly Hills and it’s not Santa Monica.’ ”

“You’ve got ice cream trucks, and you’ve got dads coming out with their kids to buy them ice cream. I didn’t see that in Silver Lake,” said Steve. “You drive up Van Nuys Boulevard and they’ve got spectacular murals of Ritchie Valens, Frida Kahlo, Danny Trejo.”

Is Pacoima going to follow Highland Park, Boyle Heights and other communities where gentrification has brought transformation and friction, with waves of both winners and losers?

Bye-bye Silver Lake, hello Pacoima: How one couple tackled L.A.'s sky-high real estate prices - LA Times

[V8 Vega]

I read that article in the paper. A lot of houses in Pacoima really aren't bad, better than mine, it's just that people let their yards go don't do much maintenance, have junkey old trucks, don't pick up trash.

[GSR13]

Originally Posted by jm1982

Steve Lopez of the L.A Times has reported that a white couple has purchased a home in Pacoima.

---
“When we looked at what we could qualify for and still be in Los Angeles, that was Pacoima, San Fernando and Sylmar,” said Steve. “I thought, ‘Well, it’s a fairly blue collar area. It’s not Beverly Hills and it’s not Santa Monica.’ ”

“You’ve got ice cream trucks, and you’ve got dads coming out with their kids to buy them ice cream. I didn’t see that in Silver Lake,” said Steve. “You drive up Van Nuys Boulevard and they’ve got spectacular murals of Ritchie Valens, Frida Kahlo, Danny Trejo.”

Is Pacoima going to follow Highland Park, Boyle Heights and other communities where gentrification has brought transformation and friction, with waves of both winners and losers?

Bye-bye Silver Lake, hello Pacoima: How one couple tackled L.A.'s sky-high real estate prices - LA Times

And that's the problem with gentrification during a housing crisis. Promotes divisiveness and increases (disposable) income inequality.

[jacktravern]

I guess people can talk themselves into anything. I worked in Pacoima for a few years up until recently. Most of it is about 2 steps beyond what you see in Tijuana. Filthy, tons of poor families; undesirables doing a ton of loitering in front of stores and homes; extremely low performing schools, multiple adults to one home, and generally just a lack of regard for property. Tons of illegals too, but that's another story.

What I mean by that is many of the homes look poorly maintained, especially the yards, and there tends to be alot of car break-in's, and, if you're there enough, you will see a ton of shattered glass in the streets due to reckless drivers. I've met many of the working parents over there trying to do better for themselves and even they send their kids to schools out of the area if given the opportunity.

No a big fan of neighboring San Fernando and Sylmar either, but I would choose those 2 over Pacoima or Mission Hills which I think is a slight upgrade over all 3. Is it Beirut, no. But for me personally I probably wouldn't take a free house over there. But like I said, people can talk themselves into anything if they want it bad enough. How many individuals do you up their ears in debt and bills but still walk out of dealership with fancy SUV?

[jacktravern]

Originally Posted by V8 Vega

I read that article in the paper. A lot of houses in Pacoima really aren't bad, better than mine, it's just that people let their yards go don't do much maintenance, have junkey old trucks, don't pick up trash.

Yes, I forgot about the junky old trucks. That seems to be the norm over there.

[jm1982]

Yeah some nice kept homes in parts of San Fernando and Sylmar . Of course the nice homes in Sylmar aren't cheap . Know people that live in Rancho Cascades area .. large homes they seem to be $700k or more these days .

This couple paid around $425,000.. not really many options at that price point .. but they could of got a townhouse or condo as big or larger in a nicer area of the valley for less.

Not sure how great having a yard is there considering one of the neighborhood dogs killed their dog already

[CamaroGuy]

Pacoima is often reffered to as "the stain on the carpet that never comes out".��

[jacktravern]

Originally Posted by TracerOW

What do you think Echo Park looked like 20 years ago?

I've driven through Echo park lately. Not for me either. Especially for the prices. But to each his own. I'm not interested in being a trendsetter

[T. Damon]

When did Boyle Heights become unaffordable? We have a project up there on Whittier Blvd. and it ain't pretty. But it does have the best little taco trailer in the city in front of it, which I totally love!

[Texamichiforniasota]

Originally Posted by V8 Vega

I read that article in the paper. A lot of houses in Pacoima really aren't bad, better than mine, it's just that people let their yards go don't do much maintenance, have junkey old trucks, don't pick up trash.

That's the case in a lot of LA. Most of the single family homes in LA are fairly similar (although somed have been maintained and renovated better than others). But a 3 bed, 2 bath home between 1500 and 2000 sqft is pretty standard from Soth LA to West Hollywood to the Valley. The huge difference in prices is mostly based on who your neighbors are going to be. Obviously, there can be bad neighbors anywhere, but there are more of them In 'bad neighborhoods.