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Old 11-16-2009, 03:44 PM
 
2 posts, read 11,363 times
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I am contemplating about making an offer on a home close to White Oak and Ludlow in Granada Hills. Is this is a safe neighborhood? I am worried about a few run down properties in the neighborhood. Is the area north of 118 better then Old Granada Hills area? Please help. Thanks.
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Old 11-16-2009, 09:38 PM
 
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Granada Hills is fine. The reason it's property values are low is because the schools are bad....or at least thats the reputation.

Yes the area north of the 118 is a better area, and yes part of the problem is that some of the older houses have not had upkeep done on them in a very long time.

Overall, its an ok enough area to live. There are better, but not really for the price. Its far from the work centers(westside and downtown LA) and its older. But as a starter home, its fine.

I'll caution that if you do not intend to hold for 10 years or more...you are going to be very disappointed. Lots of current buyers seem to think that in 5 years they are going to gain lots of value. That notion is literally pulled out of thin air and stems from the belief that real estate never goes down in value. It also ignores a actual unemployment rate exceeding 18% in LA County and unlikely to improve any time soon, and it ignores a swelling tidal wave of foreclosures on the higher priced properties, which will directly impact Northridge/Porter Ranch areas and ripple down to the mid priced Granada Hills.

There is reason to buy.....primarily the low interest rates...if you find the right place and can afford it within the conventional standards of affordability and are not stretching on a 3.5% down FHA and a house priced at 5-7x income(ie your household income is $100K and you put $17.5K down on a $500K place = very bad)
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Old 11-17-2009, 10:17 PM
 
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Thanks for the response John. Does certain parts of Granada Hills close to Mission Hills have gang related activities?
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Old 11-18-2009, 12:43 PM
 
4,118 posts, read 8,658,806 times
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Yes and no.

I don't think its much of an issue now, but it has been in the past.

It will depend on the proclivity of landlords in Mission Hills and North Hills to lower rents to Section 8 levels. If you see house rents in those areas drop under 1,000 a month, it will be a problem.

If you like sanitized areas with no crime, that area of Granada Hills is not for you I don't think.
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Old 11-20-2009, 11:58 AM
 
Location: L.A./Pismo Beach
332 posts, read 649,232 times
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From my experience, I'd stay north of the 118, west of Balboa and east of Tampa. There are some great homes and neighborhoods on both sides of Rinaldi.
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Old 02-10-2010, 06:43 PM
 
Location: Glendale/Los Angeles
571 posts, read 1,713,318 times
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FHA is not always evil. I make around 50k and hubby makes 20k (his income wasn't used for the loan - too new) and our townhouse was 150k. I had to put around 11k down including closing costs. I only pay $80 more now than I was paying for rent plus the HOA payment of $250 a month. In return I have a 2 bedroom 3 story townhouse I can start a family in. Hubby and I are only 24 and 22. FHA gave us a chance to get into a home and we barely pay anything more than we were paying before. Of course you shouldn't use it to get a home 5X your income but don't knock it completely..!! =D
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