U.S. CitiesCity-Data Forum Index
Covid-19 Information Page
Go Back   City-Data Forum > U.S. Forums > California > Los Angeles
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 06-19-2018, 05:23 PM
 
309 posts, read 193,602 times
Reputation: 448

Advertisements

Quote:
Originally Posted by Tuscan80 View Post
If price/cheaper was the only reason people were buying houses in Inglewood, why not just buy in Victorville. Clearly it is not the only reason. The other big reason is pretty big: LOCATION - proximity to Playa Vista Jobs, LAX, beach cities. Very central location that allows easy access to South Bay or Westside. The other reason: there is current development happening and if you look at the Redfin data, prices in the area are increasing faster than other areas. There was a similar pattern with the Seattle housing market.
Yes, this is also correct. This is why I brought up the location point earlier in the thread. The proximity to Playa Vista, Marina Del Ray, LAX, South Bay, Downtown, West Hollywood.. there are lots of jobs within a reasonable driving distance. Lots of people who work in those locations, who are priced of those locations, may look at South LA/Inglewood area as a possibility over the IE or Valley.
Reply With Quote Quick reply to this message

 
Old 06-19-2018, 07:04 PM
 
Location: Where the sun always shines
2,068 posts, read 2,712,091 times
Reputation: 3965
Quote:
Originally Posted by ima30something View Post
Ok? you're not saying anything that people don't already know. I never said I'm living in Beverly Hills. On average, South LA has less income than other parts of LA...got it.

Beverly Hills is the ultra high end of the spectrum. Your logic is basically you picked the less ugly girl.
And the other parts are???? Typically when I watch the news, it seems like other than East LA, something 80% of the violent crime happens in the southern part of the county. Look at a crime map. Most of the violent crime happens below Wilshire Blvd


Things at work aren't going well, however I'm looking for other opportunities at similar compensation levels. I'm confident in my skills and abilities. We also have a nice cushion for emergencies that we could dip into if needed and be fine for several months. Lastly, I will need to put a roof over my head anyway.. so if I lost my job, I'd still have rent to pay... might as well have some of the money go toward the principal on a house.

After a year, you're already paying towards the principal? If I'm not mistaken, most peoples housing payments are going toward the interest for like the first 7 years or so.


My point is, South LA has mobility like a lot of Los Angeles doesn't have. Yes, both my wife and I travel multiple times a month for business and our family is spread out throughout the country... we are at LAX often. I hated venturing past the 405 when I was in Santa Monica and I hated dealing with La Cienega when I was living in Weho.

You could have easily made your way to Westwood and taken the Flywaway bus and saved yourself a ton of headaches.




We have built about $60k in equity since we bought last fall. Granted, we had some expenses when we purchased and we will have some when we sell. We don't plan on moving to any other houses while living in LA, however.. if we wanted to, we just continue to save every month and couple our savings with the equity we have in the home in a few years and we will have a much bigger down payment than we would've had if we just continued to rent and save.
You do realize you have to deduct those expense from the equity. They did happen, and more likely on the way. The roof alone will cost you 11 to 15K.
Reply With Quote Quick reply to this message
 
Old 06-19-2018, 09:33 PM
 
309 posts, read 193,602 times
Reputation: 448
Quote:
Originally Posted by jacktravern View Post
Beverly Hills is the ultra high end of the spectrum. Your logic is basically you picked the less ugly girl.
And the other parts are???? Typically when I watch the news, it seems like other than East LA, something 80% of the violent crime happens in the southern part of the county. Look at a crime map. Most of the violent crime happens below Wilshire Blvd
Do you have a source for your stats? While I agree with you that South LA has more crime than other parts of LA, there is crime risk everywhere in a big city. For example, I had my car broken into in Santa Monica and West LA when I lived there. I also had my parked car hit by a drunk driver in West Hollywood.. crime happens.

Quote:
Originally Posted by jacktravern View Post
After a year, you're already paying towards the principal? If I'm not mistaken, most peoples housing payments are going toward the interest for like the first 7 years or so.
You clearly don't quite understand how a mortgage works. You pay principal from the first payment you make. Yes, you pay more interest up in the beginning and as you pay off the loan over time, your payment goes more toward principal.

For example, a mortgage payment of $3,000 would be something like:
Month one: $500 in principal, $500 in taxes/insurance and $2000 in interest.
Month two: $510 in principal, $500 in taxes/insurance and $1990 in interest.
Month three: $520 in principal, $500 in taxes/insurance and $1980 in interest.
and so on...

Quote:
Originally Posted by jacktravern View Post
You could have easily made your way to Westwood and taken the Flywaway bus and saved yourself a ton of headaches.
Are you suggesting that finding a ride to a Flyaway bus and then taking a 45min bus ride to LAX is less stress than living near LAX?

Quote:
Originally Posted by jacktravern View Post
You do realize you have to deduct those expense from the equity. They did happen, and more likely on the way. The roof alone will cost you 11 to 15K.
Yup, I realize that. It was $12k in expenses to buy. It will be $15k in expenses to sell. We put $10k in improvements. If we sold today, we are out of pocket $37k and up in equity $60k (plus the tax benefit, but who's counting?). Seems like a better deal to me than renting...

Last edited by ima30something; 06-19-2018 at 09:56 PM..
Reply With Quote Quick reply to this message
 
Old 06-19-2018, 10:00 PM
 
83 posts, read 75,368 times
Reputation: 107
jacktavern apparently knows everyones personal financial situation lol
Reply With Quote Quick reply to this message
 
Old 06-19-2018, 11:20 PM
 
Location: Where the sun always shines
2,068 posts, read 2,712,091 times
Reputation: 3965
Quote:
Originally Posted by Tuscan80 View Post
jacktavern apparently knows everyones personal financial situation lol
Well he talks about it in other threads. Soooooooo..........
Reply With Quote Quick reply to this message
 
Old 06-19-2018, 11:23 PM
 
Location: Where the sun always shines
2,068 posts, read 2,712,091 times
Reputation: 3965
[quote=ima30something;52249096]Do you have a source for your stats? While I agree with you that South LA has more crime than other parts of LA, there is crime risk everywhere in a big city. For example, I had my car broken into in Santa Monica and West LA when I lived there. I also had my parked car hit by a drunk driver in West Hollywood.. crime happens.


Look where most of the dark orange is. You mention Santa Monica but it is quite yellow. If anything th eproblems is that neighborhood attracts many non-Santa Monica residents.

Violent Crime Ranking - Mapping L.A. - Los Angeles Times

Last edited by jacktravern; 06-19-2018 at 11:26 PM.. Reason: Spelling
Reply With Quote Quick reply to this message
 
Old 06-20-2018, 07:57 AM
 
Location: In the heights
24,615 posts, read 25,378,661 times
Reputation: 13125
Quote:
Originally Posted by jacktravern View Post
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
See what I mean. Still way too much dysfunction and mayhem for the housing prices there. Pass





You continue to try to justify buying that house, but In spite of what you might have paid for housing, that neighborhood is still an area where 21% of the households live below the poverty line. And most likely, another 30% is right at the poverty line if not more. ANd thats just the legal citizens we know about. Numbers like that usually bring about alot of quality of life issues. No thanks. Look at the articles osted by Jim above. That's fairly recent violent theater, and not even coming to a town near you.........you're already in that town

Also

1)I was using 60K as a baseline for a middle class person with no kids. I'm aware you make more, but arent you personally almost on the verge of quitting or losing your job which will turn living situation into a wreck? You probably couln't move now even if you wanted to.

2)You name these things as if its so great. Living close to Downtown ain't that special, unless you work there, or you plan to attend like 20 Laker games and 10 concerts a year. Besides, LA County has MANY downtown type areas which are much better. And living close to the airport is not that great unless you leave town on business often or are alwyas visiting family. There tends to be more congestion and the annoyance of planes constantly overhead. The same applies to Atlanta,...the housing by the major airport is cheaper, but those neighborhoods are terrible.



Just curious, Do you plan to send your kids to the Inglewood school district or nearby LAUSD school public school?

And how can you say it's been a great investment? If you sold now, with the prices rising everytwhere, could you actually move into a nicer neighborhood? I'm sure Hancock Park prices haven't stayed stagnant while only Inglewood's has gone up.
If things in LA go anything like they did in the Bay Area or NYC, this post is going to look incredibly quaint several years from now. If people perpetually wait until they make enough to buy into that nice neighborhood in a city with rapidly appreciating housing costs, then they'll just end up moving out of the area completely or renting forever. You buy where it isn't perfect or even quite good and deal with what issues the neighborhood has as it improves.

Last edited by OyCrumbler; 06-20-2018 at 08:10 AM..
Reply With Quote Quick reply to this message
 
Old 06-20-2018, 08:07 AM
 
309 posts, read 193,602 times
Reputation: 448
Quote:
Originally Posted by jacktravern View Post
Look where most of the dark orange is. You mention Santa Monica but it is quite yellow. If anything th eproblems is that neighborhood attracts many non-Santa Monica residents.

Violent Crime Ranking - Mapping L.A. - Los Angeles Times
You just made my point. Crime happens everywhere in a big city. According to think link you posted, Compton has less crime than Hancock Park, Beverly Grove and Venice, lol.
Reply With Quote Quick reply to this message
 
Old 06-20-2018, 08:13 AM
 
Location: San Diego, CA
1,644 posts, read 727,228 times
Reputation: 2517
Quote:
Originally Posted by ima30something View Post
We have built about $60k in equity since we bought last fall.
Where did you come up with the $60K in equity number? Have you been paying extra towards your principal, or are you going off Redfin/trulia estimates? If it’s the latter, you might be in for a rude awaking when you go to sell. It’s fun to look at those numbers, but I can tell you from experience it’s not often reality.
Reply With Quote Quick reply to this message
 
Old 06-20-2018, 08:35 AM
 
309 posts, read 193,602 times
Reputation: 448
Quote:
Originally Posted by TacoSoup View Post
Where did you come up with the $60K in equity number? Have you been paying extra towards your principal, or are you going off Redfin/trulia estimates? If it’s the latter, you might be in for a rude awaking when you go to sell. It’s fun to look at those numbers, but I can tell you from experience it’s not often reality.
Similar, I use HouseCanary: https://www.housecanary.com/

It's much more accurate than Zillow / Redfin, however i do take it with a gain of salt. We aren't planning on selling anytime soon, so it really doesn't matter at this point.

Last edited by ima30something; 06-20-2018 at 08:46 AM..
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Options
X
Data:
Loading data...
Based on 2000-2016 data
Loading data...

123
Hide US histogram

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > California > Los Angeles
Follow City-Data.com founder on our Forum or

All times are GMT -6.

© 2005-2020, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top