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Old 03-22-2017, 10:57 PM
 
83 posts, read 75,344 times
Reputation: 107

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I had a friend who bought a house in Sylmar right before the housing crash. Very unfortunate. His home was one of these newer developments and was also GATED yet his home was still burgalarized. He recently sold the house, but it was still a at a loss! You would think after all this time it would have recovered.

I know one other person who lives in Sylmar and they are kind of low-income Hispanics...

I don't think Sylmar has the best reputation. I'm also always weary of "new development" housing since the crash. A lot of people lost major money on these new developments (not just in Sylmar, but a lot of Inland Empire homes, some in OC, etc.). The problem is when these developers start selling their homes to low-income people or people who can't afford the homes (they cannot afford the 20% down). I'd watch out for that. Way out Inland or way out North in those areas, there is still land available for development. Why anyone shell out top dollar when the land next door can be developed as well beats me. It is a supply and demand thing. There is plenty of SUPPLY of land out in these far inland LA areas because new land can be developed. Near the coast, development is pretty limited that's why you get the higher prices (less supply).

Not sure I would be willing to invest a ton Inland unless it was super cheap or I wanted a ranch with horses or something, maybe a winery. Otherwise there are not many jobs out in these types of areas to sustain higher prices in the long-term. Buy it if it is cheap and affordable to you, but as far as investment property? Probably not.
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Old 03-23-2017, 10:04 AM
 
Location: Sylmar, a part of Los Angeles
4,688 posts, read 2,957,634 times
Reputation: 10177
I have lived here 26 years. Sylmar is the far corner of the valley and when I 1st moved here there was lots of bare areas, and vacant lots. Over the years they have built new houses on every vacant lot or piece of land. Now they tear down run down houses and build there.
13 years ago there was a huge nursery off Sayer, that was a good size housing development, and another big one by the wash.
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Old 03-23-2017, 01:32 PM
 
Location: Los Angeles (Native)
25,306 posts, read 16,467,356 times
Reputation: 12186
I know people that live in the rancho cascades area . Nice homes in that area . They have a very big yard .

They seem to go to Santa Clarita a lot for shopping since it's not far .
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Old 03-25-2017, 09:43 PM
 
Location: Cali
3,905 posts, read 6,352,317 times
Reputation: 2229
Quote:
Originally Posted by Rchi View Post
Vega...More Yummy Sylmar News : )

I heard they may be building a new In & Out Burger at old El Chaparral site @ Sayre & Foothill
That would be great!
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