For 750K, can I get a nice house in a good school district west of the 405 (rent, student loans)

[thelopez2]

Originally Posted by Ingenere

Scratch up another few hundred grand and then maybe.

Originally Posted by jm1982

Got any good ideas for that?

Buy a house for $300 and sell for $400

Originally Posted by WTBWestside

I guess I'd be open to condos as well if houses are out of the question...

You'll have many more options

Originally Posted by stylistvg

Pretty much ^ what he said, NO. you will not get a decent school period. even if the elementary is ok , the middle and high schools suck. and honestly 750 k on the westside is a fixer or a condo. plain and simple

Have about a place in View Park, with the $2000 you'll save a year in property taxes, and $1000 a year in mortgage payments, you can use that money to enhance your child's education experience, tutoring, vacations, field trips, etc,. and enjoy other aspects of life.

The westside is west of La Brea, not just west of the 405.

[yby1]

Here are a couple of homes in View Park/Windsor. Many will need some deferred maintenance, but still a good value.

5033 ONAKNOLL Ave, Los Angeles, CA 90043 | MLS# 13-699055 | Redfin

5571 ONACREST Dr, Los Angeles, CA 90043 | MLS# OC14031484 | Redfin

5505 OVERDALE Dr, Los Angeles, CA 90043 | MLS# 13-713155 | Redfin

[molerat]

its amazing we pay that much for those houses. minus that one posted in basically ladera heights...but I would not live there with kids.

the physical structure is crap compared to what 700k buys elsewhere. but im in the same twisted boat.

if people weren't allowed to take out such huge dam loans, the prices would have to come down .

[thelopez2]

Originally Posted by molerat

its amazing we pay that much for those houses. minus that one posted in basically ladera heights...but I would not live there with kids.

the physical structure is crap compared to what 700k buys elsewhere. but im in the same twisted boat.

if people weren't allowed to take out such huge dam loans, the prices would have to come down .

In other parts of the country interest rates are just as low, but the prices are still a fraction of the prices here. The prices are high because there are high paying jobs, people don't want to drive, or they feel they need to pay for a "good" school. You can pay hundreds or thousands a month for a private school or pay it in property taxes and home prices.

Take away the jobs then prices will have to come down, loans have always been around.

[molerat]

Originally Posted by thelopez2

In other parts of the country interest rates are just as low, but the prices are still a fraction of the prices here. The prices are high because there are high paying jobs, people don't want to drive, or they feel they need to pay for a "good" school. You can pay hundreds or thousands a month for a private school or pay it in property taxes and home prices.

Take away the jobs then prices will have to come down, loans have always been around.

the loans have, but allowing low low down payments is the main problem. they used to require 10-20% down. other parts of the country dont have enough demand to create the bubbles we get here. I agree though the higher paying jobs also fuel it, but I still think it's primarily the low down payments and easy loans. many people buying dont even have high paying jobs.

[Cloudwalker]

I don't think it's the loans. I don't hear of anybody these days qualifying for a regular loan with less than a 15% down payment, and in most cases it seems to be 20%. I think it's simple supply and demand, lots of people want to live in SoCal because of climate and jobs, and the Westside is particularly popular because of schools and the heat-moderating influence of being close to the coast.

Also, while these prices are high compared to many other parts of the US, when you look internationally, they are the same as or sometimes cheaper than the major cities in many parts of the first world, including the UK, much of Europe, Australia, New Zealand, Japan, Singapore and so on.

[Marv101]

You've forgotten about the land and zoning/environmental restrictions which have exacerbated the boom & bust cycles which really wallop California severely and have been doing so repeatedly for well over three decades, and also contributes to the plunging numbers of children and especially ages 4-15 as the folks sick of over-regulation, horrible schools and green zealotry head elsewhere to start families, as Joel Kotkin and many others have been reporting for years.

[tigerprint456]

Have you considered private school? I don't think it is a good idea to wait till Spring or Summer if you are set on buying now. Too many buyers (competition) putting out offers if you wait till Spring or Summer. If you considered private school you would have more options and likely get a larger home for the same price in a good neighborhood.

[WTBWestside]

Originally Posted by tigerprint456

Have you considered private school? I don't think it is a good idea to wait till Spring or Summer if you are set on buying now. Too many buyers (competition) putting out offers if you wait till Spring or Summer. If you considered private school you would have more options and likely get a larger home for the same price in a good neighborhood.

I've heard of this theory but if a good house is in the market now, why wouldn't those same buyers be competing now? It's unusual to think that all of a sudden, people become interested in March but not February, especially in LA when the weather is pretty decent all year round. I'd imagine if supply is high in those seasons, it would naturally be a buyer's market more than a sellers market given that supply is more abundant than the amount of buyers. Correct me if I'm completely wrong.

[stylistvg]

I live ion the border between hollwood and west hollywood. on a fairly bust street. The house next door to me is for sale. it is a small 2 bed 2 bath. it is listed for 1.2 million. with a small yard and horrible schools. Serioulsy for 750k. look at condos