For 750K, can I get a nice house in a good school district west of the 405

[thelopez2]

Originally Posted by tigerprint456

I agree but disagree too. The OP would have to get a condo less than 700K to stay in budget. Condos / townhomes have too many monthly HOA and other fees that people do not calculate in when they are trying to buy. Plus the OP indicated they have children so a condo may be too small.

I have an HOA of $260. Condos on the Westside are a little different then those found in Recondo Beach. They have large townhome condos, Some two on a lot at over 2000 sq ft each. A $500 HOA will cut about $100,000 off the loan amount calculation.

I think children can be raised in condo and and apartments, some places have higher density and green areas , it might actually be easier for kids to play together since they don't have to go too far.

[CA4Now]

Originally Posted by thelopez2

There is a pink house listed for 799 in 90066 south west of venice and sepulveda, the kicker, last sold 1/31/2014 for $691k. Even if another $42K goes to agents, the seller is still looking at 60k. .

Minus capital gains, moving fees, title transfer, property tax increases, etc, etc. Never mind the time it takes you to prepare your home to go on the market, pack up your belongings, do the actual move...
Whew!

[thelopez2]

Originally Posted by CA4Now

Minus capital gains, moving fees, title transfer, property tax increases, etc, etc. Never mind the time it takes you to prepare your home to go on the market, pack up your belongings, do the actual move...
Whew!

I did minus capital gains of 50%, moving fee? They didn't didn't move into it, the previous listing also had it pictured as a pink house. I don't think any prep has gone into the home before placing it back on the market. I wouldn't be surprised if it was part of a 1031 exchange and there is no capital gains being paid anyways.

[Joe Van Fossen]

You're talking about the Minerva Ave house right? It's priced way above fair market value and is being sold as a pretty major fixer. There's no way they're going to sell it for what they're asking. The most appropriate comp is itself.

[thelopez2]

Originally Posted by Joe Van Fossen

You're talking about the Minerva Ave house right? It's priced way above fair market value and is being sold as a pretty major fixer. There's no way they're going to sell it for what they're asking. The most appropriate comp is itself.

Financing will be the hard part, getting an underwriter to accept the property was bought at a discount of $100,000.

My point was inventory will increase, people will ask for more money, but it isn't necessarily shifting to a buyer's market.

[Joe Van Fossen]

Originally Posted by thelopez2

Financing will be the hard part, getting an underwriter to accept the property was bought at a discount of $100,000.

My point was inventory will increase, people will ask for more money, but it isn't necessarily shifting to a buyer's market.

Totally agreed