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Old 10-07-2011, 09:24 AM
 
525 posts, read 899,659 times
Reputation: 420

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Quote:
Originally Posted by Tiger Beer View Post
Small as in one bedroom and bad as in crime infested.

Sounds like housing prices are going down maybe by quite a bit from 5-6 years ago. Based on what I've read so far here.
Crime infested? You make it sound like cockroaches.
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Old 10-07-2011, 09:27 AM
 
Location: Full Time: N.NJ Part Time: S.CA, ID
6,116 posts, read 12,599,484 times
Reputation: 8687
Quote:
Originally Posted by 1200RT View Post
You can find single family homes for $350k in bad areas. $500k is the norm for a single family home in a decent area. $700k in what I would consider a 'good' area.

It really depends on where you're looking.
Quote:
Originally Posted by JohnG72 View Post
Thats all a bit on the high side.

You can find finished and updated 3bd/2ba/1500sq ft SFR in Whittier, West Covina, Covina, La Habra in the $350K range if not cheaper. These are not the nicest areas, but are hardly what I'd call bad. All have passable schools and are safe neighborhoods.

This one is a really good example:

4209 North LYMAN Ave, Covina, CA 91724 | MLS# C11049424

You can find finished 3bd/2ba/1500sq ft SFR in Lakewood/Long Beach(the good parts) for $450K including decent schools. Bump it up to $550K for Burbank. All nice, safe areas with well above average schools.

For example:
4130 North CLARK Ave, Long Beach, CA 90808 | MLS# S653882

and

444 North MYERS St, Burbank, CA 91506 | MLS# B11045328


Prices have dropped quite considerably. Doesn't mean they won't drop even further.
Covina, Long Beach? Maybe I misunderstood, but I don't consider them "LA Metro". I'll give you Burbank and elsewhere in the Valley.
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Old 10-07-2011, 09:50 AM
 
4,538 posts, read 10,629,904 times
Reputation: 4073
Quote:
Originally Posted by 1200RT View Post
Covina, Long Beach? Maybe I misunderstood, but I don't consider them "LA Metro". I'll give you Burbank and elsewhere in the Valley.

The Los Angeles metropolitan area comprises Los Angeles County (9,862,049), and Orange County (3,010,759). The metropolitan division to which Los Angeles County belongs to is known as the Los Angeles-Long Beach-Glendale, CA Metropolitan Division,

Greater Los Angeles Area - Wikipedia, the free encyclopedia
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Old 10-07-2011, 09:56 AM
 
Location: So Ca
26,727 posts, read 26,812,827 times
Reputation: 24790
Quote:
Originally Posted by Tiger Beer View Post
Are small homes in bad neighborhoods for minimum half a million dollars, still the norm?
You don't want any kind of home in a bad neighborhood (you're better off renting in that case). If necessary, you'd rather buy a "bad" (i.e. run down, too small, poorly maintained) home in a good neighborhood. You can fix the house but you can never fix the neighborhood.
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Old 10-07-2011, 10:05 AM
 
Location: Full Time: N.NJ Part Time: S.CA, ID
6,116 posts, read 12,599,484 times
Reputation: 8687
Quote:
Originally Posted by JohnG72 View Post
The Los Angeles metropolitan area comprises Los Angeles County (9,862,049), and Orange County (3,010,759). The metropolitan division to which Los Angeles County belongs to is known as the Los Angeles-Long Beach-Glendale, CA Metropolitan Division,

Greater Los Angeles Area - Wikipedia, the free encyclopedia
Really? I never understand people's desire to always be right online. If someone lives in Long Beach and says they live in LA, you'd laugh at them. If someone lives in West Covia and says they live in LA, you'd laugh at them. No need to get into a wikipedia-off ....
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Old 10-07-2011, 10:19 AM
 
Location: So Ca
26,727 posts, read 26,812,827 times
Reputation: 24790
Quote:
Originally Posted by 1200RT View Post
If someone lives in Long Beach and says they live in LA, you'd laugh at them.
Except that the OP lives in Japan. Anything in southern CA is probably considered "L.A." to someone outside this state, much less outside the U.S.
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Old 10-07-2011, 10:40 AM
 
Location: Macao
16,259 posts, read 43,195,107 times
Reputation: 10258
Quote:
Originally Posted by CA4Now View Post
You don't want any kind of home in a bad neighborhood (you're better off renting in that case). If necessary, you'd rather buy a "bad" (i.e. run down, too small, poorly maintained) home in a good neighborhood. You can fix the house but you can never fix the neighborhood.
True. Actually I wouldn't want to live in a real bad neighborhood even if it were cheap.

I guess what im really wondering is if home prices have went down enough so that someone dependent on local wages there could someday become a homeowner. Or if home prices are so out of line, it's better to not even consider the LA area at all.
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Old 10-07-2011, 11:37 AM
 
Location: South Bay
7,226 posts, read 22,197,011 times
Reputation: 3626
Quote:
Originally Posted by Tiger Beer View Post
True. Actually I wouldn't want to live in a real bad neighborhood even if it were cheap.

I guess what im really wondering is if home prices have went down enough so that someone dependent on local wages there could someday become a homeowner. Or if home prices are so out of line, it's better to not even consider the LA area at all.
how much are you looking to spend? you can still find nice (older) homes in nice parts of the valley for under $500k. the westside will be much more, but it is one of the most desirable places to live in the country.
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Old 10-07-2011, 11:59 AM
 
Location: Virginia
18,717 posts, read 31,086,150 times
Reputation: 42988
If there's any concrete reasons prices are about to see a significant drop, I would definitely appreciate knowing them. As I said earlier, we want to retire near a beach and are looking at properties in Delaware right now. We plan to buy sometime next summer. If there's any reason to hope that the California beach cities might become affordable again that would give me pause for thought. I like Delaware but I'd love to be near my old friends if there's any way a beach town in California could be affordable.
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Old 10-07-2011, 03:55 PM
 
Location: CITY OF ANGELS AND CONSTANT DANGER
5,408 posts, read 12,665,367 times
Reputation: 2270
its harder to be wrong when you know what you are talking about. now you know the correct terms to use.
simple as that. the poster provided some good info. they werent "out to get you" or prove you wrong. take that chip off your shoulder. be thankful for some education. i am very thankful to all the information i get on here. some of it i dont agree with, some of it i do.


Quote:
Originally Posted by 1200RT View Post
Really? I never understand people's desire to always be right online. If someone lives in Long Beach and says they live in LA, you'd laugh at them. If someone lives in West Covia and says they live in LA, you'd laugh at them. No need to get into a wikipedia-off ....
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