Pricing will often follow a fairly normal distribution with outlier prices both at the extremes of high and low. I would not get too excited by a few isolated prices since it could be all explainable by a number of things: 1) The home had some defect (cracked foundation due to earth quake etc.) or there was a "Paid outside of closing" (POC) deal or barter (e.g. partial swap, land deal, auto etc.) with cash or private notes given or taken. 2) The seller could just be plain stupid or ill advised about the value of his home. Or is under duress about the market (e.g. the irrational effects of the self fulfilling prophecies of perma-bear and Chicken Little syndrome ) 3) The house was sold to a friend or family member at a severe discount (again under a POC deal) that was solely intended to reset the tax basis down to defraud the county/city tax appraiser's market worth to reduce taxes. We see this a LOT where I am with owners selling to their businesses or friends for well below fair market value and sometimes even declaring bankruptcy after the deal strips the equity in a private exchange of cash under the table. 4) The owner could have had a pressing personal emergency and sold it at his cost and left considerable equity on the table as an incentive to the buyer for a cash only rapid close. e.g. a Drug Dealer had to leave the area fast and get back to Mexico before Home Land Security moved in for an arrest And finally, don't go on what is printed in MLS and especially public versions of MLS data since many Realtors are in fact incompetent fat-fingered half-blind buffoons who can't type in the correct closing data properly before the listing is closed. Even this tax records on a private sale can be in error. In fact the biggest error/fraud is in understating the square footage size (and therefore the $ per sq-ft calculation) for room add-ons and such to defraud the tax man. TS
I'm thinking of moving to California to the LA area. I found these homes that looked good. Looking to spend no more than $1 million. Can anyone from the LA area please comment on these areas. Are they safe areas? Do these areas tend to appreciate well compared to other areas around LA? I know, of course, that things have doubled over the past 5 years. I'm looking for somewhere around the LA area, doesn't have to be in Los Angeles, that offers nice hill/mountain views where the house is also situated on a hill/mountain overlooking things below.... http://realtor.com/FindHome/HomeLis...8113CC57881C&snumxlid=1055592435&lnksrc=00001 http://realtor.com/FindHome/HomeLis...8113CC57881C&snumxlid=1075316115&lnksrc=00001 http://realtor.com/FindHome/HomeLis...lo=0&pgnum=4&snumxlid=1070900999&lnksrc=00001 http://realtor.com/FindHome/HomeLis...lo=0&pgnum=6&snumxlid=1075548037&lnksrc=00001 http://realtor.com/FindHome/HomeLis...lo=0&pgnum=6&snumxlid=1071649232&lnksrc=00001 http://realtor.com/FindHome/HomeLis...lo=0&pgnum=6&snumxlid=1074959566&lnksrc=00001 http://realtor.com/FindHome/HomeLis...o=0&pgnum=15&snumxlid=1059257940&lnksrc=00001 http://realtor.com/FindHome/HomeLis...o=0&pgnum=20&snumxlid=1067890139&lnksrc=00001
As I recall, I am from OC CA, Elysian Park, by Dodger stadium, has some Spanish barrio trash. Hollywood Hills should be nice. Sorry I can't help more. I didn't grow up in LA.
How is Agoura Hills? Any recommendations on mountainous towns that are safe, good homes for 1 million or less, and preferably 40 or less miles from Los Angeles?
If you can afford a 1 mil home, why in the world would you want to move to smog ridden LA? YUCK. I even hate driving thru the place. You can see the thick band of brown smog as you come over the pass...eewwwwww...
NasdaqTrader, I currently live in Agoura Hills. The area is very nice, although a bit pricey. It's pretty much an all white, upper middle class area with one of the lowest crime rates in the country. Also might want to consider Westlake Village, Calabasas, and Oak Park, pretty much same area. I personally love the location, far enough from L.A., but close enough that it's still only about a 30 min drive to hit the nightlife. Also, only 15-20 mins from the beach.
Regarding illegals, I'd like to suggest the following 28th Amendment to the Constitution: AMENDMENT XXVIII The right of the taxpayer to fiscal responsibility and the right of the legal resident to be kept free from harm; illegal residents shall not be entitled to any tax payor funded entitlements nor shall they be given protection under the 4th Amendment.
At that distance you could live in OC. It's nicer than LA, but I am biased. You could live in Anaheim Hills, Orange Park Acres, small home in Laguna Beach or even Newport Coast. San Fernando Valley is freakin blazin hot in the summer. You might like Westlake Village if you want to be North of LA.
Corona del Mar - Newport Coast - Laguna Beach would be my choice. Used to live in Santa Ana Canyon just east of Anaheim Hills, can get hot there occaisionally but Anaheim Hills/Yorba Linda is a nice area.