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Old 05-03-2009, 07:17 PM
 
2 posts, read 4,376 times
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I am looking to buy a modest 2+ bedroom house preferably with a yard for my dog. I am looking to spend around $250,0000-$275,000. I am looking to stay in a relatively young area if possible ( I am 24).
Anywhere within a 30-35 minutes commute to Burbank would be nice.
Thanks
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Old 05-03-2009, 08:59 PM
 
4,031 posts, read 8,301,481 times
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Quote:
Originally Posted by Doblinitus View Post
I am looking to buy a modest 2+ bedroom house preferably with a yard for my dog. I am looking to spend around $250,0000-$275,000. I am looking to stay in a relatively young area if possible ( I am 24).
Anywhere within a 30-35 minutes commute to Burbank would be nice.
Thanks
No.

Your price point is ridiculous for a house in Burbank/Glendale area.

There are just barely starting to be house listings in Burbank under $400K and they are in the worst areas of Burbank.

Glendale, there are a few cheaper houses but they are all under 1000 sq ft.

If you absolutely must buy, Arleta is nearby and has houses in the $225-300K range. But be warned that the houses will require work, the neighborhood is heavily latino, and there is a propensity that if the houses drop down to the $170-250K range, they will be rented out to section 8 renters. The neighborhood is nothing like Burbank or Glendale.

Needless to say, your expectations are way out of whack, and I have no idea why you are in such a rush to buy.
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Old 05-04-2009, 01:57 AM
 
9,716 posts, read 12,942,815 times
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You won't be able to find anything in that price range in either Glendale or Burbank. Just a year ago, a tiny two bedroom built in the 1930s, with less than 1000 sq. ft and not a great neighborhood and a "fixer upper", would sell for $500K+. (They were $600K+ at the top of the market.)

Condos usually cost less but I don't know what condos are going for now. I doubt there is anything in the $200K range.

This might sound stupid, but I think you should rent instead. Most of the people who own houses around Burbank/Glendale or anywhere close are not young. A lot of them are 50, 60, 80 years old. A "young" homeowner around there would be someone in their 30's.

This isn't to say there aren't young people because there are -- but they are renters or they are the kids of the old people who own the home.

I'd save some money and wait for the housing bubble to totally collapse. Go rent someplace cool, like Studio City or Toluca Lake.
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Old 05-04-2009, 08:18 AM
 
Location: Hoppin' thru the forest !
352 posts, read 430,858 times
Reputation: 148
The only other option for maybe finding a house that cheap is a foreclosure. Which they are probably even going to be more than your desired price and prob in bad condition, as most foreclosures are. Sorry, but prices for a house havent been that low for 10-20 yrs !
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Old 05-04-2009, 11:27 AM
 
Location: NoHo (North Hollywood)
448 posts, read 1,339,775 times
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I was just about to agree with all of the posters here, but thought to myself, let me just see what Redfin has to say.

If you arrange the results by Price (at the bottom), there are actually a handfull of houses (not condos) in your price range in or around the Glendale area. Check back periodically as this gets updated daily with new listings. All you need is one, so good luck.

Last edited by Green Irish Eyes; 05-05-2009 at 07:34 PM.. Reason: No links to real estate sites, please.
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Old 05-04-2009, 10:16 PM
 
Location: La Crescenta, CA
418 posts, read 1,527,123 times
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Quote:
Originally Posted by LABornandRaised View Post
I was just about to agree with all of the posters here, but thought to myself, let me just see what Redfin has to say.

If you arrange the results by Price (at the bottom), there are actually a handfull of houses (not condos) in your price range in or around the Glendale area. Check back periodically as this gets updated daily with new listings. All you need is one, so good luck.
I saw this too... but I'm suspicious. Many realtors will list houses in this price range because it attracts immediate attention. And then the houses will sell for well over the asking price. And yes, this is happening even now. Note that most of these are fixers with well under 1000 sf. Or they're short sales, and almost certainly won't go for the low asking price.

Last edited by Green Irish Eyes; 05-05-2009 at 07:34 PM.. Reason: Edited quoted text
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Old 05-05-2009, 02:37 AM
 
4,031 posts, read 8,301,481 times
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Quote:
Originally Posted by Lumerian Feast View Post
Note that most of these are fixers with well under 1000 sf.
I've looked also and this^ is the overwhelming factor. Homes built in the 20's and 30's that are miniscule in size, need work, and still list at $250-300K.
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Old 05-05-2009, 03:01 AM
 
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At less than $300K and a single family home, I think these might be teardowns.
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Old 05-05-2009, 10:11 AM
 
Location: Windermere, FL
269 posts, read 787,888 times
Reputation: 167
Quote:
Originally Posted by Doblinitus View Post
I am looking to buy a modest 2+ bedroom house preferably with a yard for my dog. I am looking to spend around $250,0000-$275,000. I am looking to stay in a relatively young area if possible ( I am 24).
Anywhere within a 30-35 minutes commute to Burbank would be nice.
Thanks
So where'd you move here from?
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Old 05-05-2009, 10:25 AM
 
Location: Burbank
1,204 posts, read 3,910,101 times
Reputation: 430
Van Nuys?
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