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Old 11-13-2018, 10:54 PM
 
Location: Los Angeles (Native)
25,303 posts, read 21,443,353 times
Reputation: 12318

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Quote:
Originally Posted by LisaLisa2323 View Post
Well, I guess their entire original squad are all homeowners now.
https://www.youtube.com/watch?v=Hr836yDulEU


Even Meredith Foster (who had a falling out with the other members of the squad).
https://www.youtube.com/watch?v=W0Frn7IoqH0

I believe her home is under 1 million, because she purchased a fixer upper, but I'm sure it was still around ~850K, because it's in Los Angeles.

it's very impressive. My issue is, I can only afford a home that's 450K.
Yeah in L.A Area puts you in a pretty rough hood for $450K these days for a house . Houses in Compton go for that much or sometimes more ,

You can find some condos or townhomes though .
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Old 11-14-2018, 11:34 AM
 
Location: SoCal
3,877 posts, read 3,891,599 times
Reputation: 3263
Quote:
Originally Posted by LisaLisa2323 View Post
But the backyard area is absolutely gorgeous. I've always wanted to have an outdoor area with beautiful plants and an infinity pool.
Congrats to them, and the infinity pools in Bel-Air are epic you can see all of West LA, and Downtown from the pool!
Something like this https://www.google.com/search?q=infi...W4N1j81aYTbCM:
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Old 11-14-2018, 01:36 PM
 
Location: SoCal & Mid-TN
2,325 posts, read 2,650,692 times
Reputation: 2874
Houses in the hills like that are in very fire prone areas. Fire insurance is likely to skyrocket after these fires and they are saying that coverage just won't be available in some ares or will be extremely expensive (I was speaking with an insurance industry expert). Also, once the fires are gone and it starts to rain, we have floods and mudslides. It's like most things - it looks pretty on paper, but when you dig into the details you find there are a lot of very expensive potential problems (and, as has been mentioned, this is not cheap real estate to begin with).
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Old 11-14-2018, 01:55 PM
 
Location: Los Angeles (Native)
25,303 posts, read 21,443,353 times
Reputation: 12318
Quote:
Originally Posted by Spikett View Post
Houses in the hills like that are in very fire prone areas. Fire insurance is likely to skyrocket after these fires and they are saying that coverage just won't be available in some ares or will be extremely expensive (I was speaking with an insurance industry expert). Also, once the fires are gone and it starts to rain, we have floods and mudslides. It's like most things - it looks pretty on paper, but when you dig into the details you find there are a lot of very expensive potential problems (and, as has been mentioned, this is not cheap real estate to begin with).
Yeah I was thinking insurance is going to be insane in these areas.

It will be interesting to see what the effect will be on market prices if any .
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Old 11-14-2018, 02:47 PM
 
195 posts, read 130,795 times
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Quote:
Originally Posted by Spikett View Post
Houses in the hills like that are in very fire prone areas. Fire insurance is likely to skyrocket after these fires and they are saying that coverage just won't be available in some ares or will be extremely expensive (I was speaking with an insurance industry expert). Also, once the fires are gone and it starts to rain, we have floods and mudslides. It's like most things - it looks pretty on paper, but when you dig into the details you find there are a lot of very expensive potential problems (and, as has been mentioned, this is not cheap real estate to begin with).
Is cost really an issue for people who can afford those million dollar homes? It's definitely an issue for regular working class folks, but I doubt that increases in insurance will be a major problem for rich people...
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Old 11-14-2018, 02:51 PM
 
195 posts, read 130,795 times
Reputation: 99
Quote:
Originally Posted by jm1982 View Post
Yeah I was thinking insurance is going to be insane in these areas.

It will be interesting to see what the effect will be on market prices if any .
Even though the area is prone to fires, it's still in very high demand.

If I could afford the area, I'd definitely move there.
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Old 11-14-2018, 03:04 PM
 
Location: Ca expat loving Idaho
5,267 posts, read 4,177,342 times
Reputation: 8139
Quote:
Originally Posted by LisaLisa2323 View Post
Is cost really an issue for people who can afford those million dollar homes? It's definitely an issue for regular working class folks, but I doubt that increases in insurance will be a major problem for rich people...

It might be the straw that breaks the camels back. We have to pay high utilities, high prop taxes, some have to pay flood insurance and melloroos, It all adds up and more and more people just can't afford a home here anymore.
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Old 11-14-2018, 05:30 PM
DKM
 
Location: California
6,767 posts, read 3,851,777 times
Reputation: 6690
Calabasas is hotter than and similarly priced to westlake village. Fire danger is about the same... if you aren't on the edge of a natural area at risk, and have a modern house with appropriate construction you are pretty safe from the kind of fire storm like we just had. I have a million dollar house and cost of insurance is an issue, so I'm not sure why you think only people rich enough not to care live in them. There is no way I would move to Calabasas though because I need a place where I can use windows to cool off in the summer and its way too close to LA...to save 10 minutes commuting time isn't worth it.
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