Advice on Corona? (Glendale, Burbank, Santa Monica: sales, real estate market, rental)

[Tasksgirl]

The commute isn't really a factor for me because I am used to commuting pretty far (Glendale area to Santa Monica) and I also telecommute half the week.

Here is what I am looking for. I started originally thinking of moving back to Houston (where I am from) but it couldn't give me ALL the things I wanted without sacrificing one or more.

- Relatively cheap housing. (I need to buy 2 houses or one very large house because my husband and I largely care for his parents. The large house would have to have 4+ bedrooms and a loft and cost no more than 300k I have found some for in this range. OR the 2 houses could be smaller and preferably around 200k or less which I have found some in this range as well and hopefully the prices will have fallen more by the time I am ready to buy.)
- A large hispanic community. Very important.
- A relatively safe community (Some crime is ok since of course crime is everywhere but Houston drives me nuts because everyone has guns and a simple confrontation often turns into murder very quickly. Every time I found a neighborhood I liked I found news articles of people being randomly attacked at a fast food place or killed during a home invasion)
- A somewhat new, large, nice home. The bigger the yard the better.

Today I also realized that when you take away the huge HOA fees ($500 or MORE!) that are charged in Houston it offsets the more expensive house. Not to mention my salary is much more here than it would be in Houston. In Houston I found hispanic communities that weren't so safe and had older homes and I found newer safer communities that were boring as heck and too expensive. I was never quite sold on the idea of going back and now I am thinking Corona (or possibly other IE cities that can offer the things on my list) is the place of my dreams. Please tell me your experience living there. The pros, the cons, etc. Thanks!

[ConsideringLA]

Tasksgirl:

I saw on your other post you have looked everywhere in LA -- have you checked out Whittier (56% Hispanic or Latino) or La Mirada (33%)?

The housing will be slightly more expensive than IE and the homes may be a bit older, but these are very nice, safe, diverse middle class areas with excellent schools.

[Tasksgirl]

Yes I have checked out those areas but as you said it's a bit more expensive and the homes are smaller and not as nice.. but they are still on my list ! It all depends on how the real estate market is and what I can afford once I am in the position to buy ..

It is difficult because I would need to somehow make sure that my in-laws were taken care of. My MIL is sick and won't be able to work much longer and they have trouble making rent even WITH her working 2 jobs. I couldn't really buy myself a house without making sure they had somewhere to go - whether that be with us in our home which would of course be uncomfortable or nearby in another house or condo. They are really more like my own parents and we look out for eachother. It would sure make it simpler though if I just had to worry about myself! I have to be somewhat more creative to be able to factor them in .. but thanks for the tip ! Maybe prices will go down even more and I could afford something nice there too..

[ConsideringLA]

Originally Posted by Tasksgirl

Yes I have checked out those areas but as you said it's a bit more expensive and the homes are smaller and not as nice.. but they are still on my list ! It all depends on how the real estate market is and what I can afford once I am in the position to buy ..

It is difficult because I would need to somehow make sure that my in-laws were taken care of. My MIL is sick and won't be able to work much longer and they have trouble making rent even WITH her working 2 jobs. I couldn't really buy myself a house without making sure they had somewhere to go - whether that be with us in our home which would of course be uncomfortable or nearby in another house or condo. They are really more like my own parents and we look out for eachother. It would sure make it simpler though if I just had to worry about myself! I have to be somewhat more creative to be able to factor them in .. but thanks for the tip ! Maybe prices will go down even more and I could afford something nice there too..

Rent. Rent. Rent.

Incomes and rental prices are still out of whack with home prices -- even in price depressed areas like the IE. This thing has a long way to go, especially with the credit and stock markets going into deep freeze. Example: we're renting a cute 3/2 SFR in Burbank in Magnolia Park for the equivalent sales price of $450k. The comps, even in this nutty market, are $600k. The incomes don't support the home prices yet and folks are still walking from their homes.

There are places like Whittier and La Mirada with full guest houses in the back. My family is in the IE. I grew up there. The IE isn't a bad place at all; it's just different -- after living there for 2 years, it was time for us to go - the commute and distance from the rest of world ("It's a 1-2 hour drive from EVERYTHING!") was maddening. Think about it -- besides Big Bear or Oak Glen, when was the last time you were compelled to drive to the IE? Now think about all the times you will be driving the other direction. Yeah... that's why we ended up moving out. Your job may allow 2 days of telecommute now, but you're talking about BUYING - that's a long term decision.