Where are all the new homes in LA? (live, price)

[NickelDime]

The issue is newer homes amidst newer homes. Newer areas are going to be fringe-ish, though everything is relative. Many avoid downtown LA for any number of reasons - only need to hit the city for an occasional concert, and even then - there are great alternatives elsewhere (ex: U2 is playing at the Rose Bowl in Pas this weekend).

[streetscenes]

This thread reminds me of a recent article about how Asians have fared worse during the current market downturn. Homeownership fell in '08; Asians hit worst: Associated Press Business News - MSN Money

Although there are lots of reasons why this might be I think one reason is that Asians were more likely to purchase new homes during the past 5 years or so. There are lots of tracts of homes built in 2004, 2005 or 2006 where not a single owner has any equity unless they paid all cash in which case they have lost +/- 50% of their investment. Just another reason, IMHO, to buy an older home in an established neighborhood.

[ValleyBoy85]

I suggest Porter Ranch. Is probably one of the last newly developed area within the City of Los Angeles.

As of the 2000 census, and according to the Los Angeles Almanac there were 15,840 people and 5,271 households residing in Porter Ranch. The racial makeup of the neighborhood was 61.66% White, 31.25% Asian, 0.07% Pacific Islander, 1.86% African American, 0.18% Native American, 1.51% from other races, and 3.48% from two or more races. 5.19% of the population were Hispanic of any race. 38.83% of the population was foreign born; of this, 79.3% came from Asia, 7.5% from Europe, 7.0% from Latin America and 6.2% from other parts of the world.

Median household income in 2000 was $95,000, with 47.7% of households having incomes over $100,000 (4 times the US average).

In 2009, the Los Angeles Times's "Mapping L.A." project supplied these Porter Ranch neighborhood statistics: population: 24,923; median household income: $121,428. The percentages of Asian and white people are among the city's highest. 60.9 % White and 26.7 % Asian.

Porter Ranch - Mapping L.A. - Los Angeles Times

Here is a link to L.A. times mapping neighborhood. Feel free to check out statistical data on all neighborhoods in the City of Los Angeles.
Mapping L.A. - Los Angeles Times

[LP560]

Cool website. Very informative!

[f_m]

Originally Posted by LP560

We looked on Realtor.com and Zillow.com with some success but I'm sure there's more inventory out there not listed.

You should use redfin.com. Also, most new homes are generally built on smaller lots very close together, so it maximizes the developer's return.

[LP560]

Thanks, never heard of that site before. I'll check it out!

[streetscenes]

It looks like the Elephant Hills development off of Collis in El Sereno is now dead. The developer has agreed to sell the property to the City of LA for use as open space/nature preserve. This one of the last, privately held tracts of land in north east LA. El Sereno saves the Heavens -- latimes.com

[BayAreaHillbilly]

Originally Posted by streetscenes

You may be asking too much but what you are asking is not out of the ordinary. I'm not sure why Asians prefer newer homes but it does happen. My in-laws are Chinese and they freaked when we bought our first house, Spanish style home built in the 30s in Alhambra. After living there for some time they began to appreciate how well built the house was and appreciate the charm and character that came along with it.

As has been said, for what you want you will have to look further than 30 minutes without traffic from downtown LA. You can look in: 1) Arcadia with newer homes and PUD style condos built where older homes once stood; 2) similar properties in El Monte, Monterey Park, San Gabriel, etc.; 3) further out are the areas around Walnut and Diamond Bar with lots of Asian businesses along the 60 freeway east of the 605; 4) for tracts full of newer homes you could also look in the Chino and Chino Hills area, lots of Asian families have moved out that way.

There are elements of Feng Shui that have to do with who lived in the house previously and what happened in it. From that perspective, it would be particularly bad if someone had died in the home and worse if it was not a natural or quiet death. Also, a home where a couple's marriage failed would not be good. Things like that ...

[stuffavail]

Originally Posted by LP560

Hey guys,

Great forum you guys got here. My family and I are looking to move to LA sometime next year. We actually just came back from LA last month after going for two weeks. It wasn't our first time there so we know the area but don't know it as well as the locals of course.

We come from an Asian background so normally we looked at the Monterey Park area for homes. From what we saw when we were there, there were really no new homes for sale. It seemed the a lot of old homes were just torn down then rebuilt with new homes. We weren't a huge fan of old/new homes mixed together. Ideally we would like to be close to the Asian shops but not a big deal.

We looked on Realtor.com and Zillow.com with some success but I'm sure there's more inventory out there not listed.

I did a search on this forum and seems South Pasadena was highly recommended. Are there any new homes there?


To sum it up we prefer:
- Single family home
- Near Asian stores/restaurants but not a must
- Really prefer a new house among other newer homes in a community
- 3 bedroom
- 2.5 bath
- 2 car garage at least
- All adults so schools not a factor
- Relatively close to downtown LA (30 minutes no traffic)
- Willing to spend up to a $1 mil

Am I asking too much? If worst comes to worst, any new homes near LA would do. Also please mention if you know any up and coming developments.

Thanks

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San Gabriel may easily meet your criteria. I am out there all the time.
Do you need to be able to walk to the stores you referenced?

[stuffavail]

Originally Posted by stuffavail

--------------------------------
San Gabriel may easily meet your criteria. I am out there all the time.
Do you need to be able to walk to the stores you referenced?

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I just saw that you were asking for NEW homes?
Brand new?
Or recently renovated?