Is it possible to find a home there under $200,000? (Los Angeles: bank owned, for sale)

[Global Friend]

My mother in law followed us from NJ to SC and none of us are lovin it here. Her daughter lives in Torrence with her three kids so it might make more sense for her to move out there. The thing is she is on a limited budget because she's 70 and retired. Any suggestions of a nice safe neighborhood within 30 miles of Torrance where she can buy a home for under $200,000? She bought a 3 bed. home here for $138,000 and her taxes are around $200 a year but I know she can't get that there. She really only needs one bedroom but two would be nice and a small yard for her dog. Any suggestions are appreciated!

[Milwaukee City]

I just found nearly 1,500 homes for under 250K.

Homes.com - Real Estate and Homes For Sale.

[EscapeCalifornia]

Under $200k for a house is going to be ghetto. She'd have better luck with condos but still, that's a tiny budget for LA. Taxes are about 1% so expect to pay a bit over $2000/yr on a $200k house.

[nmnita]

and the problem with condos are the fees. This holds true with townhomes as well, but they are not quite as high.

$200,000 anywhere near Torrance probably is going to be near to impossible and qualifying will be a crap shot unless she is putting down about $100,000 or more. People buying homes out of their comfort range is exactly what created some of the porblems we see today.
Nita

[Mike121]

There was a cute house in my neighborhood that just sold for $208k

2850 Vineyard Ave, Los Angeles, CA 90016 - Zillow

So its not impossible. I like to think of my neighborhood as pretty respectable, but, I'm sure Westsiders would find it ghetto.

But your best bet is probably Long Beach or San Pedro, which has a fair amount of housing for under 200k. But you have to go look at it for yourself, because the quality of the neighborhoods in LB and San Pedro change block by block.

[EscapeCalifornia]

Originally Posted by Mike121

There was a cute house in my neighborhood that just sold for $208k

2850 Vineyard Ave, Los Angeles, CA 90016 - Zillow

Bank owned, no inside pictures, a lot smaller than a townhouse's, and right on a corner. I wonder how much it'll take to make it habitable. Sign me up.

[seain dublin]

Originally Posted by EscapeCalifornia

Under $200k for a house is going to be ghetto. She'd have better luck with condos but still, that's a tiny budget for LA. Taxes are about 1% so expect to pay a bit over $2000/yr on a $200k house.

That is not true. A friend just bought a house in Eagle Rock(near Pasadena) for 200K. I have been to the house and it is very nice and in a decent area.

You have to look. My question would be is why would a 70 yr old woman want or need a house.

How about a condo or just renting a nice apt?

[Global Friend]

Originally Posted by Milwaukee City

I just found nearly 1,500 homes for under 250K.

Homes.com - Real Estate and Homes For Sale.

Thanks but I could do searches like that or on realtor.com. I'm posting on here because I don't know how the neighborhoods are.

Originally Posted by EscapeCalifornia

Under $200k for a house is going to be ghetto. She'd have better luck with condos but still, that's a tiny budget for LA. Taxes are about 1% so expect to pay a bit over $2000/yr on a $200k house.

I know, it's tough.

Originally Posted by nmnita

and the problem with condos are the fees. This holds true with townhomes as well, but they are not quite as high.

$200,000 anywhere near Torrance probably is going to be near to impossible and qualifying will be a crap shot unless she is putting down about $100,000 or more. People buying homes out of their comfort range is exactly what created some of the porblems we see today.
Nita

She would be paying cash, she's retired and sold her home in NJ.

Originally Posted by Mike121

There was a cute house in my neighborhood that just sold for $208k

2850 Vineyard Ave, Los Angeles, CA 90016 - Zillow

So its not impossible. I like to think of my neighborhood as pretty respectable, but, I'm sure Westsiders would find it ghetto.

But your best bet is probably Long Beach or San Pedro, which has a fair amount of housing for under 200k. But you have to go look at it for yourself, because the quality of the neighborhoods in LB and San Pedro change block by block.

Thanks. I'll do some research on this but it's hard to go look, I'm in SC.

Originally Posted by seain dublin

That is not true. A friend just bought a house in Eagle Rock(near Pasadena) for 200K. I have been to the house and it is very nice and in a decent area.

You have to look. My question would be is why would a 70 yr old woman want or need a house.

How about a condo or just renting a nice apt?

She has a German Shepard. If they allow large dogs like that, then maybe she would consider it.

[f_m]

Riverside or similar area. Yes not close, but a typical drive for many. There are lots of places in the 200k range. The other option is a mobile home in a trailer park, but the lot rents tend to be high.

There are some condos on the east side of Torrance, though that is not as nice an area. Basically west and south of Torrance are beach cities and other high end places, while east and some north of Torrance are considered less desirable, but you could find something on the border if you spend time looking.

[bhcompy]

She can live in a retirement community(age restricted) like Leisure World and be within 30 miles of Torrance(probably 15-20 miles south on the 405). There are plenty of properties in that price range there.