So, I got some Downtown LA housing prices....

[Ns1]

Originally posted by: vi edit

Originally posted by: bobsmith1492
HOA is... what??

Besides a flipping racket?

It's Home Owners Association fees. In some places it's a pretty modest fee (like $40-$100) that covers things like trash removal, snow removal, lawn mowing around the place, and outside repairs to the condo.

I would hope that $850 A FREAKING MONTH includes a pool with a swim up bar that has model quality topless women serving you free unlimited drinks and complimentary suntan lotion application by said topless women.

Most likely a rooftop pool, doorman, gym, maybe a few other amenities depending on the facility. For the 1k+ ones possibly a full time spa.

 

[bobsmith1492]

Originally posted by: vi edit

Originally posted by: bobsmith1492
HOA is... what??

Besides a flipping racket?

It's Home Owners Association fees. In some places it's a pretty modest fee (like $40-$100) that covers things like trash removal, snow removal, lawn mowing around the place, and outside repairs to the condo.

I would hope that $850 A FREAKING MONTH includes a pool with a swim up bar that has model quality topless women serving you free unlimited drinks and complimentary suntan lotion application by said topless women.

Oh, that, right. Sure sounds like a racket to me - where does all that go?? I could hire someone fulltime to do cleanup for that much.

Where exactly is the downtown area? When I rode my bike through last fall most of the city seemed pretty nasty to me - lots of smog for starters. There was a nice area along one road, where the Honda headquarters is (can't remember the name...) and the Chinatown area seemed alright but all near the river reminded me of downtown Detroit. Plus the beaches were covered with weird people.

 

[Ns1]

Originally posted by: bobsmith1492

Originally posted by: vi edit

Originally posted by: bobsmith1492
HOA is... what??

Besides a flipping racket?

It's Home Owners Association fees. In some places it's a pretty modest fee (like $40-$100) that covers things like trash removal, snow removal, lawn mowing around the place, and outside repairs to the condo.

I would hope that $850 A FREAKING MONTH includes a pool with a swim up bar that has model quality topless women serving you free unlimited drinks and complimentary suntan lotion application by said topless women.

Oh, that, right. Sure sounds like a racket to me - where does all that go?? I could hire someone fulltime to do cleanup for that much.

Where exactly is the downtown area? When I rode my bike through last fall most of the city seemed pretty nasty to me - lots of smog for starters. There was a nice area along one road, where the Honda headquarters is (can't remember the name...) and the Chinatown area seemed alright but all near the river reminded me of downtown Detroit. Plus the beaches were covered with weird people.

Not that area. 1 of the ones mentioned above was in Little Tokyo. The rest are probably around 5th - 12th st, St Paul and Hope.

We're talking South Park and adjacent. Downtown itself is going through a revitalization. It's still VERY segregated, and it's odd seeing such expensive ass lofts next to fairly poor streets (wholesale district, jewelry district, fashion district). Those places are probably going on the 400-600 scale. The lofts in the financial district and south park area (think LA-Live area) are going for 600+. The homeless situation isn't that bad, really. They're all fairly nice, for the most part. I think little tokyo gets it a bit worse than the financial district.

I live 10 minutes north of DTLA right now and work smack dab in it. Quite frankly I still love it around here. I can get pretty much whatever I want within a 20 minute drive.

 

[JS80]

Originally posted by: Ns1

Originally posted by: JS80
sale dates? i heard DT condo projects selling for losses

PM me if you have anything specific as I know you're in LA

Those are current asking prices. Most I believe are inhouse sales teams only.


Talking to a few knowledgeable people, the prices MIGHT come down ~15% depending on how hot the property is. Most are trying to offer more concessions (promo's or whatever) vs lowering the asking price

Ah, asking price. Those won't sell and will turn into rentals until the market rebounds. Many of those developers are also landlords with apartment portfolios. This is why LA prices are barely coming down, no one is willing to sell.

 

[Ns1]

Originally posted by: JS80

Originally posted by: Ns1

Originally posted by: JS80
sale dates? i heard DT condo projects selling for losses

PM me if you have anything specific as I know you're in LA

Those are current asking prices. Most I believe are inhouse sales teams only.


Talking to a few knowledgeable people, the prices MIGHT come down ~15% depending on how hot the property is. Most are trying to offer more concessions (promo's or whatever) vs lowering the asking price

Ah, asking price. Those won't sell and will turn into rentals until the market rebounds. Many of those developers are also landlords with apartment portfolios. This is why LA prices are barely coming down, no one is willing to sell.

I have the % sold stats too and they actually are selling. Not as fast as the developers want, I'm sure, but they are closing on the deals

 

[Capt Caveman]

How long have they been on the market?

 

[Ns1]

Originally posted by: Capt Caveman
How long have they been on the market?

No idea. Most of the developments just came up in the last year or so.

 

[mrrman]

Originally posted by: hanoverphist
holy CRAP im glad i dont live there...

ditto

 

[venkman]

850 a month in HOA fees for a 1700 sq ft home? You can get a freaking mortgage on 1700 sq ft home for not much more than that in Michigan.

I hope paychecks in LA are about 5x what they are in Michigan.

 

[Capt Caveman]

Originally posted by: venkman
850 a month in HOA fees for a 1700 sq ft home? You can get a freaking mortgage on 1700 sq ft home for not much more than that in Michigan.

I hope paychecks in LA are about 5x what they are in Michigan.

Big difference living in LA compared to Michigan. Plus, these homeowners are probably getting 24hr concierge service, fitness center, pool, etc.

 

[Jschmuck2]

Easily the best state in the Union to live in. There's a reason it's expensive to live here...although since Downtown is still years away from not being gross anymore - unless I'm living inside the Nokia theatre, I'm not biting.

 

[Ns1]

Originally posted by: Jschmuck2
Easily the best state in the Union to live in. There's a reason it's expensive to live here...although since Downtown is still years away from not being gross anymore - unless I'm living inside the Nokia theatre, I'm not biting.

The Skyline is REALLY fucking nice, I'd kill to live there

1 BR condo's, 1650/month rent. A few of my friends have lofts, and goddamn they're nice.

 

[Jschmuck2]

Originally posted by: Ns1

Originally posted by: Jschmuck2
Easily the best state in the Union to live in. There's a reason it's expensive to live here...although since Downtown is still years away from not being gross anymore - unless I'm living inside the Nokia theatre, I'm not biting.

The Skyline is REALLY fucking nice, I'd kill to live there

1 BR condo's, 1650/month rent. A few of my friends have lofts, and goddamn they're nice.

I would imagine it's very nice - although just the same...there's really not my to DO downtown, ya know? Plus trying to get out of there between 3 and 7pm is impossible.

 

[Ns1]

Originally posted by: Jschmuck2

Originally posted by: Ns1

Originally posted by: Jschmuck2
Easily the best state in the Union to live in. There's a reason it's expensive to live here...although since Downtown is still years away from not being gross anymore - unless I'm living inside the Nokia theatre, I'm not biting.

The Skyline is REALLY fucking nice, I'd kill to live there

1 BR condo's, 1650/month rent. A few of my friends have lofts, and goddamn they're nice.

I would imagine it's very nice - although just the same...there's really not my to DO downtown, ya know? Plus trying to get out of there between 3 and 7pm is impossible.

I hop on the 110 at 3rd st, exit 101 at Alvarado. Takes me 15 minutes, but I know I'm an exception to the rule. There really isn't much to do here on weekends/nights unless you like to eat/drink, in which case there's plenty. Lots of good stuff around within driving distance though. I usually work til 7 to avoid traffic, or I can walk across the street to the gym.

It SHOULD become pretty lively though after LA Live is complete

 

[r6ashih]

I checked out a condo near little tokyo. Prices, if i remember were 600k+. Upgraded kitchen, but basic bath and shower. no upgrades anywhere else. hard to see any value in it =(

 

[Ns1]

Originally posted by: r6ashih
I checked out a condo near little tokyo. Prices, if i remember were 600k+. Upgraded kitchen, but basic bath and shower. no upgrades anywhere else. hard to see any value in it =(

What place was this?

Basic bath + shower is awful. Should've looked better =P

 

[Jschmuck2]

Originally posted by: Ns1

Originally posted by: Jschmuck2

Originally posted by: Ns1

Originally posted by: Jschmuck2
Easily the best state in the Union to live in. There's a reason it's expensive to live here...although since Downtown is still years away from not being gross anymore - unless I'm living inside the Nokia theatre, I'm not biting.

The Skyline is REALLY fucking nice, I'd kill to live there

1 BR condo's, 1650/month rent. A few of my friends have lofts, and goddamn they're nice.

I would imagine it's very nice - although just the same...there's really not my to DO downtown, ya know? Plus trying to get out of there between 3 and 7pm is impossible.

I hop on the 110 at 3rd st, exit 101 at Alvarado. Takes me 15 minutes, but I know I'm an exception to the rule. There really isn't much to do here on weekends/nights unless you like to eat/drink, in which case there's plenty. Lots of good stuff around within driving distance though. I usually work til 7 to avoid traffic, or I can walk across the street to the gym.

It SHOULD become pretty lively though after LA Live is complete

I hope that it does. I live in the valley...so getting there is a hassle no matter what. I do like Glendale though. All kinds of things to do here...eat Armenian food...read Armenian literature...learn to speak Armenian...eat MORE Armenian food etc...

 

[Chaotic42]

Let's see some wages too.

Our cost of living is going nuts here. Not like that, of course, but pretty bad.

 

[Ns1]

Originally posted by: Jschmuck2

Originally posted by: Ns1

Originally posted by: Jschmuck2

Originally posted by: Ns1

Originally posted by: Jschmuck2
Easily the best state in the Union to live in. There's a reason it's expensive to live here...although since Downtown is still years away from not being gross anymore - unless I'm living inside the Nokia theatre, I'm not biting.

The Skyline is REALLY fucking nice, I'd kill to live there

1 BR condo's, 1650/month rent. A few of my friends have lofts, and goddamn they're nice.

I would imagine it's very nice - although just the same...there's really not my to DO downtown, ya know? Plus trying to get out of there between 3 and 7pm is impossible.

I hop on the 110 at 3rd st, exit 101 at Alvarado. Takes me 15 minutes, but I know I'm an exception to the rule. There really isn't much to do here on weekends/nights unless you like to eat/drink, in which case there's plenty. Lots of good stuff around within driving distance though. I usually work til 7 to avoid traffic, or I can walk across the street to the gym.

It SHOULD become pretty lively though after LA Live is complete

I hope that it does. I live in the valley...so getting there is a hassle no matter what. I do like Glendale though. All kinds of things to do here...eat Armenian food...read Armenian literature...learn to speak Armenian...eat MORE Armenian food etc...

You go to Skaf's yet!? Christ. I actually have an article next to me about Americana @Brand. You know the developer (Caruso) went to a city council meeting about a proposed street name, and ended up getting the street named after himself? ahhaha

Glendale's cool, but hot as balls.

 

[Ns1]

Originally posted by: Chaotic42
Let's see some wages too.

Our cost of living is going nuts here. Not like that, of course, but pretty bad.

Well the 2 guys I know who bought places in DTLA are ~150k/year so....


They also work 80+ hours/week, so I guess the savings in commute time has much value to them

 

[her209]

I prefer a 1400+ sq. ft. house with a 2 car garage and backyard.

 

[Jschmuck2]

Originally posted by: Ns1

Originally posted by: Jschmuck2

Originally posted by: Ns1

Originally posted by: Jschmuck2

Originally posted by: Ns1

Originally posted by: Jschmuck2
Easily the best state in the Union to live in. There's a reason it's expensive to live here...although since Downtown is still years away from not being gross anymore - unless I'm living inside the Nokia theatre, I'm not biting.

The Skyline is REALLY fucking nice, I'd kill to live there

1 BR condo's, 1650/month rent. A few of my friends have lofts, and goddamn they're nice.

I would imagine it's very nice - although just the same...there's really not my to DO downtown, ya know? Plus trying to get out of there between 3 and 7pm is impossible.

I hop on the 110 at 3rd st, exit 101 at Alvarado. Takes me 15 minutes, but I know I'm an exception to the rule. There really isn't much to do here on weekends/nights unless you like to eat/drink, in which case there's plenty. Lots of good stuff around within driving distance though. I usually work til 7 to avoid traffic, or I can walk across the street to the gym.

It SHOULD become pretty lively though after LA Live is complete

I hope that it does. I live in the valley...so getting there is a hassle no matter what. I do like Glendale though. All kinds of things to do here...eat Armenian food...read Armenian literature...learn to speak Armenian...eat MORE Armenian food etc...

You go to Skaf's yet!? Christ. I actually have an article next to me about Americana @Brand. You know the developer (Caruso) went to a city council meeting about a proposed street name, and ended up getting the street named after himself? ahhaha

Glendale's cool, but hot as balls.

I'll go to Skaf's if you go to Cafe Bravo in Glendale

 

[Ns1]

Originally posted by: Jschmuck2

Originally posted by: Ns1

Originally posted by: Jschmuck2

Originally posted by: Ns1

Originally posted by: Jschmuck2

Originally posted by: Ns1

Originally posted by: Jschmuck2
Easily the best state in the Union to live in. There's a reason it's expensive to live here...although since Downtown is still years away from not being gross anymore - unless I'm living inside the Nokia theatre, I'm not biting.

The Skyline is REALLY fucking nice, I'd kill to live there

1 BR condo's, 1650/month rent. A few of my friends have lofts, and goddamn they're nice.

I would imagine it's very nice - although just the same...there's really not my to DO downtown, ya know? Plus trying to get out of there between 3 and 7pm is impossible.

I hop on the 110 at 3rd st, exit 101 at Alvarado. Takes me 15 minutes, but I know I'm an exception to the rule. There really isn't much to do here on weekends/nights unless you like to eat/drink, in which case there's plenty. Lots of good stuff around within driving distance though. I usually work til 7 to avoid traffic, or I can walk across the street to the gym.

It SHOULD become pretty lively though after LA Live is complete

I hope that it does. I live in the valley...so getting there is a hassle no matter what. I do like Glendale though. All kinds of things to do here...eat Armenian food...read Armenian literature...learn to speak Armenian...eat MORE Armenian food etc...

You go to Skaf's yet!? Christ. I actually have an article next to me about Americana @Brand. You know the developer (Caruso) went to a city council meeting about a proposed street name, and ended up getting the street named after himself? ahhaha

Glendale's cool, but hot as balls.

I'll go to Skaf's if you go to Cafe Bravo in Glendale

Never heard of cafe bravo. Will chowhound it now


Text

Wow, impressive. Marked for a trip to Glendale.

 

[V00DOO]

Originally posted by: r6ashih
I checked out a condo near little tokyo. Prices, if i remember were 600k+. Upgraded kitchen, but basic bath and shower. no upgrades anywhere else. hard to see any value in it =(

In order to comfortably afford a $600k you'll have to make over 150K a year with a minimum of 60K (10%) in down payment. Preferably 120K (20%) down payment to avoid PMI. I don't know about you but if I make over 150K and has 60K to 120K in cash I wouldn't want to live in a small condo cutter. This is why we are in this housing mess. People buying homes they can't afford. Here is a link to an article about the housing crisis in California from Bloomberg.

March 20 (Bloomberg) -- Sacramento may eliminate up to 600 jobs in the city's first staff reductions in half a century, and the police and fire departments in the California capital may have their budgets cut by 20 percent. The culprit is the collapse of the U.S. housing market.

California, the birthplace of the subprime mortgage industry, is paying the highest price of any state as the housing meltdown persists. Its gross domestic product will drop 1.5 percent in the first half of 2008, the most in the U.S., analysts at Lexington, Massachusetts-based Global Insight Inc. estimate.

The state had the most foreclosure filings in the U.S. last year and the biggest fourth-quarter decline in prices, according to RealtyTrac Inc., an Irvine, California-based seller of data on defaults, and the Office of Federal Housing Enterprise Oversight in Washington.

``The depth and magnitude of what's happening in the real estate market is really, really grim,'' said Russell Fehr, Sacramento's finance director, in an interview.

California, the most populous U.S. state and accounting for almost one-seventh of gross domestic product, will lose $25 billion in personal income by the end of 2008 and property values will fall by $630.7 billion, according to forecasts from economist Jerry Nickelsburg at the University of California, Los Angeles, and the U.S. Conference of Mayors....Bloomberg

 

[TwiceOver]

Ouch 12x what I paid for a 2100 sq ft. Then again I live in the middle of nowhere.