California housing prices....

[apac]

Real estate descriptions get just getting retarded now:



What the fuck does 3/4 of a bathroom look like?

A 3/4 bath has a shower but not bathtub. This is pretty standard notation.

 

[dr150]

As long as the jobs are in California, people will move here and subsequently drive the home prices up versus somewhere like Detroit or Michigan state where the population had a net decrease in residents.

 

[Dr. Detroit]

Restrictive zoning is also to blame. CA has enormous amounts of park land set aside that they will not allow homes to be built on.

There is no shortage of land - we just do not allow any homes to be built on the open space..

Prices have come way down from the bubble peak of 2006 & 2007. We were in santa Cruz last weekend - and will most likely be in Tahoe/Reno this weekend.

 

[kedlav]

are so depressing.

In Texas, $479 gets me:

http://www.zillow.com/homedetails/1...-78641/83821596_zpid/#X1-IAduruqjvie8wh_ev6ju

In California, $499 gets me:

http://www.zillow.com/homedetails/345-N-Sparks-St-Burbank-CA-91506/20050399_zpid

I love California, but I don't think I could ever spend that much on a house here when I could get something 20x more extravagant in another state.

Who actually wants to live in Leander? Houses can get that expensive in Austin at about the same size (I don't have quite that high a budget, but I'm searching in Austin as I write).

 

[soulcougher73]

I think people that think CA is all that need a reality check and need to live somewhere else first to know what they are talking about. I grew up in the SF Bay Area in San Bruno & Millbrae from 7-20. Then in San Diego from 21-24. Now ive been in KC ever since. Much nicer here overall, but still not perfect. Id rather be in Denver and am working towards that. People are WAY better in the midwest then in CA. I would say the only thing CA has better overall is weather and an ocean if that is your thing.

 

[Drako]

As long as the jobs are in California, people will move here and subsequently drive the home prices up versus somewhere like Detroit or Michigan state where the population had a net decrease in residents.

Actually, that's a problem in California. The jobs are not here, in fact a lot of companies are moving out of California to more business friendly states.

http://www.usnews.com/news/articles/2011/05/23/the-10-worst-cities-for-job-seekers

3 of the 10 worst cities in the country to find a job right now are in California. That's not a good thing.

 

[JS80]

Value of CA homes is mostly land value. If you fly into LA/SF/SD you will not see an empty lot for a while. You fly into Austin, Dallas, anywhere else outside of Boston/Manhattan you will see lots of empty land.

Besides most of the homes were purchased back in the day when homes were $50k. These people will never sell their homes still paying property tax basis on the low value.

 

[purbeast0]

ummm ... texas vs california ...

i think pretty much anybody who isn't a texan would rather live in california.

i also don't see what the need for huge homes in general are for.

 

[Mike Gayner]

A 3/4 bath has a shower but not bathtub. This is pretty standard notation.

Not here it isn't. That's fucking stupid - so a bathroom without a bath is only 3/4 of a bathroom? FFS people.

 

[JulesMaximus]

It's ridiculous

140k in Cali
http://www.zillow.com/homedetails/1653-W-59th-St-Los-Angeles-CA-90047/20927105_zpid/#

lol

"Centrally located on a residential street walking distance to shops, schools and public transportation, just minutes away from downtown LA, LAX and beaches." BWAHAHAHAHA!!!

More like centrally located in the ghetto! If you like having gang bangers and low income neighbors and don't mind the occassional break in, stabbing, shooting, helicopters, living right under the approach to LAX, etc. it's the perfect area...That's South Central Los Angeles right there.

 

[JulesMaximus]

2,616 sq ft. 5 bedroom 4 bath for $336,000 near southern california beaches!

http://www.redfin.com/CA/Hawthorne/3922-W-147th-Pl-90250/home/6550389

East Hawthorne...no thanks.

 

[Drako]

"Centrally located on a residential street walking distance to shops, schools and public transportation, just minutes away from downtown LA, LAX and beaches." BWAHAHAHAHA!!!

More like centrally located in the ghetto! If you like having gang bangers and low income neighbors and don't mind the occassional break in, stabbing, shooting, helicopters, living right under the approach to LAX, etc. it's the perfect area...That's South Central Los Angeles right there.

LOL, and somebody paid almost $400k for that place back in 2006 - brutal D:

 

[JulesMaximus]

Real estate descriptions get just getting retarded now:



What the fuck does 3/4 of a bathroom look like?

Nothing retarded about it.

1/2 bath = toilet and a sink
3/4 bath = toilet, sink, and a stand up shower (no bath tub)
full bath = toilet, sink, and a bath tub

 

[OCGuy]

fed.mortgage guarantees for jumbo loans will be ending soon. Will be interesting to see how this effects property values for properties currently valued 500k and up.

Won't change things too much, it is going from $729,750 to $625,500 in the higer cost counties.

 

[JulesMaximus]

LOL, and somebody paid almost $400k for that place back in 2006 - brutal D:

Seriously? Western and Slauson is a shit hole. No fucking way would I even drive through that area let alone buy a house there. That's only about a mile from Florence and Normandie if that means anything to anyone. Might as well live in East L.A. or Watts or Compton...or North Long Beach. I think that covers all the major shit holes not including the Valley or the Inland Empire of course.

 

[edro]

How do poor people afford to live in California?
Do they get more welfare than people in one of the square states?

I guess they live in the projects... which are free.
How do regular poor people who work afford a $400k house?

 

[PingSpike]

I don't know about all of CA but in my neighborhood houses are rarely for sale, and most of the people have been here for generations since the houses originally cost like $30,000. Quite a few with 2 generations living together.

Aren't your property taxes locked at a max rise of 1-2% a year because of the proposition 13 or whatever? Who the fuck would ever move with that deal? Vote for free shit, some one else pays for it. It's a great deal.

 

[PingSpike]

Real estate descriptions get just getting retarded now:



What the fuck does 3/4 of a bathroom look like?

Shower stall instead of bathtub...just like always.

 

[TheNinja]

That's kind of a general statement. I mean California is huge. Texas is huge. Sure the "average" house in California is more, but go to see central california desert hick town and you can get a mansion for $400k. Then go to a ritzy area of Texas and you'll probably get a shack for $400k if you can find anything in that range.

But ya, house prices here really, really suck. Just to get a house to live in with 2 kids it's like $480k here. Even with 10% down I'm still like $3500 a month before I buy a loaf of bread or a gallon of gas.

 

[TheNinja]

How do poor people afford to live in California?
Do they get more welfare than people in one of the square states?

I guess they live in the projects... which are free.
How do regular poor people who work afford a $400k house?

they don't. they buy them on 5 year fixed rates interest only loands....then hope to sell them for a profit if they go up in value. If they go down, they just stop making payments until the banks finally kick them out. then they say "F you" I'm walking away and declaring bankruptcy and don't care.

 

[manimal]

I built up equity for two decades in Cali and moved back to the Midwest...


prices will drop, they have to...

 

[JulesMaximus]

Aren't your property taxes locked at a max rise of 1-2% a year because of the proposition 13 or whatever? Who the fuck would ever move with that deal? Vote for free shit, some one else pays for it. It's a great deal.

Property tax = 1.5% of the value when you bought it. We were looking at moving a few years ago but it would have doubled our property tax bill so we decided to stay in our current house.

If you bought your house in 1978 for $38,000 your property tax would be $570/year

If you bought the same house in 2008 for $450,000 your property tax would be $6,750/year

 

[HumblePie]

Not here it isn't. That's fucking stupid - so a bathroom without a bath is only 3/4 of a bathroom? FFS people.

A bathroom to be considered full has these four things.

Toilet, Sink, Shower, and Tub.

For a 3/4 bathroom pick three of those. For a 1/2 bathroom pick two.

Get it yet?

 

[Aharami]

Property tax = 1.5% of the value when you bought it. We were looking at moving a few years ago but it would have doubled our property tax bill so we decided to stay in our current house.

If you bought your house in 1978 for $38,000 your property tax would be $570/year

If you bought the same house in 2008 for $450,000 your property tax would be $6,750/year

not sure if I like that method. Sure it rewards homeowners who bought in a while ago and havent moved, but it means that one homeowner could be paying vastly lower property taxes than his neighbor who just moved in, even though they both use the public services equally. IMO property taxes should be based on current assessed value. But that has its downsides also.

 

[Mr. Lennon]

not sure if I like that method. Sure it rewards homeowners who bought in a while ago and havent moved, but it means that one homeowner could be paying vastly lower property taxes than his neighbor who just moved in, even though they both use the public services equally. IMO property taxes should be based on current assessed value. But that has its downsides also.

Yeah I know someone who bought a $3 million dollar home in a beautiful part of Orange County. He's paying out the ass in property taxes, while my uncle (only lives a few houses down from him) is paying jack shit because he bought the property when the area was developed.

Our state would be in a lot better shape if Prop 13 was abolished.