House Hunting In Los Angeles: What $1 Million Gets You In 2022
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- เผยแพร่เมื่อ 28 ส.ค. 2024
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In this video we are house hunting in Los Angeles, I look at 3 different properties to see what $1 million gets you in 2022!
Jamie Tian, Los Angeles Realtor: / jamietian
JamieTian@gmail.com
6418 Waring Ave, Los Angeles, CA 90038
Christopher Stanley - Compass
cjstanleyla@gmail.com
947 16th St #5, Santa Monica, CA 90403
Jesse Morton - Douglass Elliman
jesse.morton@elliman.com
753 Pier Ave #B, Santa Monica, CA 90405
Smith & Berg Partners - Compass
team@smithandberg.com
Thank you to the listing agents in this video for letting us record:
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what type of videos would you guys like to see more of on my channel? Let me know (I'm having a writers block!) and I'll work on it!
Cost of Living From one State to another state
Hotel Hoppin.
Air BnB stuff, more behind the scenes, guest tendencies and requests, general update, future plans, what hasn't gone well
I've had writers block before. I was in the process of writing a book Volume 6 and had writers block. I wrote Volume 3 and was able to finish it. After that my writers block went away when I worked on another book and Volume 6 all came together. Sometimes you have to work on another idea for the writers block to go away. Not sure if this works for you but it worked for me.
Interview your friends who own businesses. Show us how they work and how much money they make.
Wow I never knew LA had such a zoning problem. That 1 house with the 50% ownership sounded kinda like a scam at first and then you explained the subdivision issue and now I’m just mad at the unnecessary bureaucracy 😑
Not a scam but definitely sounds like a hassle. My gf is an attorney so I’ve heard of these kinds of arrangements before from her but usually in cases of wills and estates where multiple heirs inherit shares of a property.
Hahaha it's a NIMBY issue. Most of our zoning issues started because people didn't want to give up single family zoning. We're changing around some laws right now, but anyone who goes to a neighborhood council meeting about zoning or a new apartment construction is going to get faced with "more homes means more people and more traffic and more crime" it's utterly ridiculous how people are more concerned with their own single home property values, but because of prop 13 the tax benefits of keeping property here along with giving property as an inheritance make it worth it to gate keep I guess.
Tenants in common is a new feature in the LA Real Estate Market. But it originated in New York, where it was pioneered for Co-Op buildings. It's a difficult concept for people to wrap their mind around, because of the fact that you don't technically 'own' your unit. The issue for these kinds of Co-Op scenarios is that there can be difficulty in selling because the buyer must be approved by a board. And there can be difficulty in the regulations.
@@kgal1298 I always wondered how being such a rich and left wing state, you fail to regulate better the market. Now I see is because the Californians (the NIMBY ones, I mean) don't want it. Any chance regular people can outnumber the NIMBY electorade?
@@kgal1298 I know right it’s also the same problem in sf with Richmond and sunset district all being into single family homes
At first I couldn't work out what the agent was wearing on her feet and when I saw it on you Shelby I realised they were shoe protectors. Everyone should wear these when they go visiting houses. Such a good idea!
Certain homes for sale provide them while they are being shown actually! It is a smart way to keep the house show ready.
I love your content because a lot of people can relate to it. Housing cost in California is ridiculous no middle class can afford it. I no longer live in California because I wanted to own a house. I was able to buy a house for $250k for a 3 bedroom 2 bathroom in another state. It's more rural but was worth it.
I review weed products from California on my TH-cam channel
The "free" market now serve the upper class. No mid to lower class can afford to live CA. Someone has to stock the groceries shelves that those priveleged elites refuses to do.
What state?
@@paolamartinez4295 North Carolina. You have to 40 to 50 miles west of Durham and Raleigh NC. NC is still affordable.
@@Courtney-Alice-Gargani nice North Carolina is one of the better southern states in my opinion:)
If you do a continuation of this series in LA, I would leave to see properties in different parts of the city. I feel like a lot of “LA” content tends to be restricted to the west side (Culver City, Venice, etc). It would be nice to see other areas, like Eagle Rock or Monterey Park, get featured.
I agree, more to LA than the west side.. live in the suburbs, which has nicer homes, lower crime, and nicer communities
Completely agree. My husband and I just bought a house that sits on a bit over 14,000 Sq ft 13 miles east of Downtown LA for a million. People are sleeping on other cities.
Influencers don't really come out to this side that often. She should tour some houses in the Studio City area Woodbridge but most of those are 2-3M right now. We do have some nice condo's over here, but everything is being so priced out that if she wanted to give a tour of a bit of the cheaper areas she could show houses in Santa Clarita, Sylmar or go uber pricey and visit Westlake Village and Calabassas. If she wanted to do the Valley I would say she should check out Sherman Oaks/Encino I know Colleen and Joey Graceffa have homes in that spot so she could definitely diversify the areas a bit more and maybe do some collabs or something.
Santa Monica is one of the better areas in L.A. and very close to the ocean/beaches. Many areas of L.A. are not safe. California is NOT how it used to be -- and home prices are at its peak. Not a time to buy!!!! Also, I would never purchase a 2 bedroom condo/house --- 3 & 4 bedrooms don't cost a lot more money - and the monthly mortgage payment is not that much higher than a 2 bedroom. Today - people like "space" to move around - and having extra rooms for guests and an office -- are preferred. Can't imagine sharing a lot with the next house --- I prefer owning the whole house/lot. Bright rooms, lots of sun coming in the family room/kitchen areas is important --- and u don't want to look out a window to see the house/building next to you.
@@Rvalencia07 but similar cost
It's sad to see what $1M buys in LA? Many people are finding that LA's awesome weather no longer compensates for all the major issues that LA has like high housing costs, horrific traffic, high crime, homeless encampments, high taxes, failed government, etc.
Not at all actually. There was a study done and the moving people have done was to other areas of California. If you could all stop lying about it that'd be great. We actually have these homes selling for this much because people can afford it and if you come in with no contingency's even better, but considering most properties have had 10-20 offers I wouldn't worry about it. The only homes that sit on the market long term are usually high end luxury properties anything above 3M becomes more of a buyers market.
@@kgal1298 Literally California lost a seat in Congress, so yes, people are literally leaving because of what that person said.
@@kgal1298 California is trash
@@brandtc.7991 There’s two ways California can lose a seat in Congress.
- 1) A population decrease from people leaving the state (this assumes the other 49 states combined aren’t losing percentage-wise the same amount or higher of their population).
- 2) The other 49 states combined have their population increase at a much higher rate than California.
In this case, #2 is why California lost a seat in Congress because California’s population grew by 5.4% (2.4 million) from the last census in 2010 to the most recent one in 2020. Other states just happened to grow at a much higher rate.
When the next census comes around in 2030, scenario #1 very likely will be the cause as Californian’s population decline by 173,000 from July 2020 to July 2021.
@@steelehere1 Cool, thank you for that info! Very well explained and nicely said!
I actually really loved the kitchen in the first house! The natural lighting and roof deck was hard to argue with in the second though - I’m a realtor in Utah, if you’re ever looking out here. I would love to show you around and help film. You can get a lot more for your money here!
People from California have definitely inflated the market in Utah though /:
@@sofiadiaz1357 There's a shortage of homes - builders can't build when there are so many shortages, ie, garage doors, appliances, etc. More demand for homes/townhomes --- prices go up. Many people from California are leaving due to our "leaders" - so they're moving to other states - many are paying CASH. Life in California used to be GREAT!!!!
I was born and raised in West LA and went to high school in Santa Monica. I recently sold my home in Florida and moved to the mountains and I couldn't be happier. I've been hearing alot of these TIC properties. The properties viewed were nice for different reasons.
Getting a house is so much better than a condo / townhouse because it feels to me like an apartment and you have common walls. I was thinking of getting one but my dad recommend a house and he was right about buying a house.
It always makes me feel bad for natives to SoCal who can’t afford these prices. I was born and raised here and while my family still live in SoCal most still rent. I understand things won’t stay the same but man my house in NorCal is 1600 sq and we paid 443,000 for it. It’s not cheap at all but I would’ve never been able to buy a home in SoCal had I stayed.
That's very cheap in NorCal right now sadly. Grew up in Richmond and been in the bay since. Even the cheaper areas like Scotts Valley just saw a rise in prices. Currently live in Pacifica, but might have to move to Los Banos to purchase sooner rather than later.
@Danika Justine Fischer Inland Empire has the tamest markets right now in the U.S. since there's not a huge boost in uber-high paying tech jobs. Once you pass Castaic Lake, you're pretty much in the affordable areas.
I'm curious as to where in NorCal you bought a house for under $500k. We currently live in San Ramon, and most homes in our neighborhood are selling for $1.3M at the cheapest. One down the street is pending for $2M. You can't get into a 3 bedroom for under a $1M. It's just not possible with how good the schools are and low crime.
@@jamienelms1914 Any home along the 680 is super expensive nowadays. There's still homes in the 500 price range in Vacaville and Fairfield. One of my college friends managed to settle down with her husband for a very nice 2-story, 4-bed 2,000 sq ft home in Fairfield a year ago. It was around 650k.
@@aaliyahfoster2705 I love how close Fairfield is to Napa but unfortunately, for most of us, that's way too far for work. I go into SF once a week and my husband works in Livermore. If only those prices were available in the Tri-Valley. Anything under $700k is questionable - which is just mind boggling!! My parents' house in the NE Atlanta suburbs was $350k for 3-story, 3000 sq ft!
I make low 6 figures and I live in Pasadena and there is no way I can afford a house in LA. I pay $2,195 in rent and even with a low 6 figure down payment that i do have, it's still not enough to lower a mortgage. Keep in mind it doesn't include utilities and then you have to pay your other bills (e.g., phone, credit card, car, etc.).
Even though I don't have equity in something, I still pay less in rent and I am able to save a sig. amount from my paycheck into my 401k. I wouldn't be able to do that if I had a high mortgage, I'd be living paycheck to paycheck. I'm here for my working years but down the road, if I want to afford something at a good price, I'll most likely have to leave the state.
Exact same situation here. I make low to mid 6 figures and can't afford anything. Buying a $1M property in LA equates to over $60k a year in mortgage, taxes, and insurance. That's after $200k down. Good luck with buying a house with 20% down. Most are all cash or more than 50% down.
@@yelnatsch517 so who owns all the houses? Investors?
@@Ishbu101 Entertainers for one. People keep forgetting or brushing off they are competing against a lot of star power too. Doja Cat recently bought a house in Beverly Hills after only a few years of music. Sydney Sweeney who works closely with HBO Max productions bought a house during the new year.
@@aaliyahfoster2705 This is probably the most unforeseen circumstance. With how many unheard-of rising celebrities and well-known public figures concentrated in LA County as their home base and will continuously be getting mega salaries that also crushes tech salaries at times, it's like battling a gunfight with a butter knife.
I feel bad for ppl that are trying to buy a house in LA. Cause these houses in Houston would cost you no more than 250k and if you wanna spent a million on a house, you'll end up in a huge house with a game room, basement, 4 rooms, huge backyard, and a 3 car garage.
But everyone's different
It's never been affordable since the 80's. You also have to take into account the number of celebrities concentrated in Los Angeles County too where they have easy access to the studios, their resources, and are paid exorbitantly.
I appreciate the sentiment.
I grew up[ in L.A been here 50+ years. Back in 1978 my parents bough their house with a gigantic back yard for $45,000 an Boyle Heights. It's now worth on Zillow $760,000+ on the Bad side of town... Flips that are half the size in the same area are $560,000 + Crazy... I bought a townhouse in foothills near Glendora, Even the homes here are going for 1.2 to 1.5 Million...
Insane!
Boyle Heights has been getting gentrified like crazy so that's why. It's still not quite as bad as San Fran though where a burnt down house went for a mill recently.
@@kgal1298 Yeah Crazy.. Highland Park also are headed into the $850,000+ for new construction
Got my Vegas house in 08, 98k as a foreclosure.
Last appraisal was $679k. 2400sf, 4 bed, 5 bath, 4 car garage, 9ft deep pool, 1/2acr of lawn and trees.
No wonder the single story accrros the street sold for $150 over asking last year so quickly .
At a property tax rate of 1.25%, that would be over 1,000$ a month for just property taxes too own a 1,000,000$ property in LA wtf.
With the first house, it looks like it would be difficult to switch the washer/dryer unit up top on unless you use a step stool every time 😂
I was thinking the same thing since I'm 5' tall!
short people already checked this off as a NO 😭
It’s something I, as a short person who is 5’3, thought of immediately 😂
A premiere by Shelby? I'm liking this! And wow what a cool place with that upper office and rooftop deck
Shelby, what? The middle class starter house in the first segment like a two bedroom one bathroom roughly 1000 sq ft in a decent suburban neighborhood cost my parents $20,000 back in the mid 1970s! California is crazy expensive today and these prices are what it cost like to live in 90210. I miss the days of my childhood.
This is a sort of random suggestion but I'd be so interested to see a video on the housing (or even rental) market when it comes to places accessible for people with disabilities (like needing a wheelchair or etc) or like, the potential costs of making a home accessible during a renovation or flip, etc.
Loved this episode! This is like House Hunters but better! I would love either of the first two houses, loved the design on the first one!
Can’t you make this a series. On different places in LA. Lv the channel xxx
I actually prefer the first place, it has lots of charm and its cheaper. I wouldn't mind the unusual situation with the shared common spaces as I have to deal with that at the moment anyway with the 3 other units in my group. It can be a bit annoying at times but at least it forges a nice relationship with your neighbours lol. The last place was horrible and I wouldn't even pay $500k for it!
I was watching it thinking if your neighbors are terrible it would be a legit living hell living there.
The first place was awesome I loved everything about it except the sharing properties! 😍😍😍
A lot of people don't care about lighting? It's the MOST important thing. Best thing for your soul actually. (I've never realized until I've been to a lot of places)
I agree, the second Condo/Town house is worth the price in comparsion to the space and huge living space you get. Thanks for taking us arround. Personally I would buy a house in the suburbs or even in another state. Best regards
It’s fun to see what a million gets you in LA; it’s definitely a contrast to Iowa!
A premier by Shelby? I thought this was an April Fools thing for a second
I am really curious what these houses will actually sell for. My husband and I just bought a house in Portland OR and after a month or so of looking we learned the asking price isn't a true indicator of what a house will sell for. Most of the houses we were looking at went 50-90k over asking price. The house we got we offered 90k over and we were 1 of 3 who did that.
Most places here are selling a minimum 10% over asking.
Housing in Portland is nuts... We bought our place in 2019 for 400k and now it could easily sell for 550-600k.
Some have gone 20-30% more and I only know this because my roommate is doing real estate and keeps bitching about the offers on the these homes and how much over asking they're going for.
@@anthonyfox477 This market was so brutal! We got out pretty easy. It only took us 4 months and 3 offers to find ours :)
Same we bought a townhome North Atlanta and we had to go over 45k. It is fairly new though and 2500 sq feet.
comifornia was great back in the 80s. now it's a 180 degree difference.
rip Johnny carson
If an earthquake or some other SHTF event happens, the LA basin is probably not the place to be?
I think that you would have SO MUCH FUN exploring and analyzing properties in Denver, CO and the surrounding areas. I live here and the houses are SO cool and full of character without sacrificing quality and efficiency.
Surprising to say those two things at the same time haha
Great walk-throughs. I'd be interested to hear how much HOA fees and taxes are on all these properties because really affects how much you really are spending since you never get that money back and can be a big difference in overall costs when comparing properties.
Property tax is calculated by the purchase price multiplied by 1.25%. Prop taxes go up 2% per year. And depending on the City you buy in there may be a lot of other fees attached to the taxes that make the 25% higher. Technically CA is 1.% statewide, but in reality, it never is that low.
@@Leisurelistsb sounds like a lot of taxes for a place without free universal healthcare and free public college tuition. I pay high taxes in a country that gives me these things and I'm unhappy, imagine how I'd be if I paid all these taxes for nothing.
These houses would be between 200-550 thousand at the most where i grew up in Alabama AND where i live in Florida. Prices in Cali are waaay crazy. Another great video though
If you can work remotely or find a job in San Diego, just go further south towards the inland empire. Temecula, Murietta, Menifee area. You can get a much bigger home for way less, live near wineries, and just commute to Oceanside, SD, or LA on the weekends for bougie restaurants and a “scene”
You should do a San Diego episode of this series!
Why not look at the “South Bay” you know El Segundo, Manhattan Beach, Hermosa Beach, Redondo Beach, Torrance, Rolling Hills? It’s at the southern part of LA County. Your 15-20 minutes from LAX. It’s a pretty safe area for LA. It might worth considering if you want to be in LA.
more like an hour + away from LA but it is very nice
The 2nd townhouse was my favorite. Have you ever thought about Phoenix/Scottsdale for a home base? It is a lot cheaper, has good weather (except during the scorching hot summer) and has pretty good airport connections.
ummm. it's insanely expensive.
trust me
Those days of Phoenix/Scottsdale being cheap are long gone (maybe 5-7 years back they were) - now Phoenix/Scottsdale and Maricopa county prices have increased by approx 30-40% just in last 2 years. It's expensive now considering the opportunities the towns provide
@@nishantthaccker1173 still cheaper than LA
The last thing AZ needs is more people. Past two years the coastal wealthy have invaded and ran all the prices up on everything. Especially housing. Snottsdale has turned into Airbnb hell. Hope we have a scorching summer and the new people pack up and leave.
wow i million dollars doesn't go far in LA . more real estate tours would be fun
The wood floors in the second home is number one oak common. My house was built in 1947 in Burbank and those floors were used in many homes during that that time period. You can match the whole house with the oak floors. The floors are very cool.
You might want to look in the North Hollywood/Studio City area. The sections that are near Ventura give you the option to walk to a lot of places and though it isn't cheap, it is still cheaper than Santa Monica. My concern with a tenant in common arrangement would be what happens if the other owner defaults on a loan? Since they technically own half of your parcel, does it put you at risk?
I suspect whoever ended up owning the other property would have the same burden of agreements etc. with you.
The prices for houses in LA are crazy high. I hope that you start traveling to different cities throughout the United States like you said you would in the end of 2021(you only went to NYC).I’m sure there are some amazing places that you might find that are way cheaper and also awesome places to live. There are a lot of interesting things to do and new people to meet. Please start booking more Airbnbs at new and interesting places. Seattle,LA and Palm Springs are you comfort zones. Please get out of your comfort zone and take a risk. You will make many amazing and fun videos for your channels for all of us to enjoy. Thanks for the awesome videos and have a great weekend.
Boy that first house is just 65 Sq ft bigger than my apartment and we have a walk-in closet, full size washer and dryer with double sinks in our master bath. We don't live in Cali anymore and most definitely are getting more for our money!
You need to look at places in Long Beach. More space for the $$$.
Long Beach is definitely better value. But these people are looking for places where "cool" people live. Long Beach doesn't have influencers from out of California moving there and making videos.
You can buy a building in queens New York for 1 million... which in my opinion is a good asset plus you have people paying rent which not only its a asset but its also going money.
That 2nd place was great! What’s the average price you can expect to pay in monthly HOA fees for a place like that?
$230/mo. per listing (seems low - depending on number of units)
I’d love to see you try out living in a smaller city. Like, you know how people are always saying, “I could get a 4 bedroom house for that price in XYZ!” I’d love to see you try out one of those places.
If you live in a crappy enough state, rural and no services, you can get a heck of a deal on a big house. Of course your neighbors are all Conservative cultists, but you can spend some of the money in your house-hunting budget on ammo.
I love how the realtor is walking around like she is seeing the home for the first time discovering the condo. Isn’t it her job to map out the home first?
You're right, and what about that "powder room" that turned out to be an actual bathroom. That realtor seemed surprised to find out about it.
She seems sweet but when it gets down to doing buiz I wouldn't buy/sell with her.
These prices are such a price guage. You literally can get a massive mansion type house in lots of areas in Canada for these prices. Here in calgary you can get a house overlooking the mountains for 1.1 million. California is over hyped so many better areas in the world to live in. Good to travel but that's it
You need to check out Newport Beach, and Costa Mesa! Great beach towns and you can still find good deals. It isn't as spread out as LA either.
One of my friend's older parents lives in Laguna Beach. They love it there! (The Emerald fire evacuation from earlier in the year absolutely frightened them though.)
@@aharraceleon412 I love Laguna Beach! 1000 Steps Beach is my favorite beach! Unfortunately way too expensive and hard to get in and out of at certain times of day.
@@Sh3LaLa Yeah, it gets pretty hectic at peak hours especially if you need to connect through that single-file Laguna Canyon. Not worth the prices (wild to think it was relatively affordable than other beach towns when they first moved there a few decades ago), but so many older residents there had flipped and remodeled their homes that they turn into more investor/celebrity houses than for 9-5 civilians.
the best airbnb's are turnkey. you'll make money, even with the larger price tag
I used to live in LA, and hated every minute of it. We made my husband and I $98,000 a year and we had to live in Hawthorne a terrible area because Santa Monica, Venice, Culver City, Redondo Beach, ECT where so out of our reach. We where trying to stay relatively close to work so that our lives was not spent in our car. Living in LA is a nightmare if you are not rich.
Where I live a townhouse starts at 2 million dollars (thanks to the Chinese) and has no basement. In the town of Orillia, Ontario Canada about 100 miles north of Toronto in the middle of nowhere prices are now higher than they are in Los Angelis. The average house was built in 1940.
Shelby you're getting really good at this , awesome presentation , a real estate mogul in the horizon perhaps it seems you're heading that way I guess we're gonna wait and see .
Have u seen how successful her sister is working in real estate in seattle
Holy cow , Shelby made it through the Pandemic. Nice to see you again. I have not been able to afford internet for more than two years.
OC and east LA might get more bang of the bucks with this budget with newer inventory, if cause if you don’t mind the traffic
A million dollar house is different everywhere.
Nice job going over things...for me, if I HAD to pick, it would be the second "townhouse", but in reality, I'm done sharing walls with people I'm not living with. And that TIC? Never heard of that...interesting. Better like your neighbor even more there. So I'd have to have either a standalone townhouse or an actual house. I am biased and lucky to have owned my place now for over a decade...but always looking for ideas and things. No, not planning a California move cause I did that twice already in my life...1st time...not so good, 2nd time was great until I wasn't needed (family move) anymore. Just don't want to afford it, but I LOVE visiting! It is kinda scary here in Texas what's going on with the house values. So glad I'm not looking for my first place now...THAT would be scary!! and EXPENSIVE.
Shelby, you should check out North Carolina. It's still affordable until Apple shows up like in 2023 in RTP. Look what Apple did to Austin TX. The minute they showed up Austin price sky rocketed.
Apple wasn't the only one that set up in Austin. You have Tesla now, Toyota, Salesforce and a few others, but I don't know what the governor expected when he catered to the California companies and offered them tax incentives then the companies offered re-location assistance to their California workers.
I love your home tours/real estate videos! Can't wait to see more places/cities. The second townhouse was really nice.
Stay away from TIC's. Financial nightmare when you need to sell despite what the developers/realtors are going to tell you. It's not like a co-op.
WOW! BIG MONEY for small condo/house! Sky high taxes, high crime, worst traffic in America! Lots of places have good weather. It makes no sense to live in CA unless you have millions and millions of cash.
What people don't realize is All of California is not that expensive. You can move outside of the city and find something much bigger and cheaper. People are just so fixated on being in the city or their job doesn't allow remote work. You definitely don't need millions to live here lol.
I just went to some open houses in LA especially Santa Monica and Culver City. The condos with 2 bedrooms and 2 bathrooms are around 70K.The second townhouse is a great investment with that size and location. I'd like to share our experience of purchasing a single family house in LA last year. The short term rental cash flow and long term investment is what we got from the house.
When you say open house you mean like a house that you route that’s not right it’s not correct rubber house you got to understand when you were in the house you were just of the person that’s not your place to take things so you’re saying that you went to an open house he saying that you’re robbing a thug is that it
@@ericB3444 I almost had a stroke reading that
I hope the next house hunting video is Austin!
It's nuts. When I was looking in Hollywood about 8 years ago I could buy a mansion in the Hollywood Hills for 700k and a decent Hollywood home for under 200k
I believe I remember seeing on Architectural Digest that Ashley Tisdale from the Disney Channel bought a house by a film financer in the Hills this year for 4.2 million. It definitely would've been half that in the 2000s. Everyone's getting pushed out.
In love with first one with the black fire place!1
In South Dakota we can buy two homes and have money leftover for $1M
Yeah but it's South Dakota, you know what I mean?
Would be interesting to see the bidding war for these L.A. properties. I hear it's a gladitorial combat competition now. I'd go for the mace over short sword for better range and maneuverability, personally. But you do you.
It is, my favorite part is listening to my roommate try to get into these deals. He won't take on clients now that don't have pre-approval, but it's ridiculous how many people are coming in waiving inspections and contigency's I shouldn't even know this but his stress can be heard through walls.
I'm in the same boat in the Bay right now still jumbling around the thoughts of easing my daily commute to South SJ (currently in a rent-controlled apartment along the coast in Pacifica), but I'm working around the gladiatorship by possibly custom-building. There's some really beautiful lots in the South Bay. And as someone who works in architectural design, it would be hypocritical of me not to utilize my skillset at a critical time like this.
I read a Top 10 list the other day that said a lot of people are having great luck with Spear and Net.
Agreed the 2nd was the best but i would probably still look around for a house instead of a condo or townhome, wouldn't want to share 50% ownership of the 1st property, and the lighting is not so great, needing more renovations and not much privacy with the 3rd.
Please do this in Santa Cruz, the housing prices are crazy there
Thank you for the vlog. You have an amazing day! 2022.
We are currently looking for condos on the west side with 1m budget and actually looked at #2 and #3. We assumed the townhouse will probably go to an investor who will flip it because of the potential. Our biggest problem has been the HOA... most HOAs are over $400 and some can be over $1,000... so even with a 1m budget, it's so dependent on the HOA. It's been very discouraging.
Thank you for making this video though. I commented about our home buying journey on one of your videos and someone commented thinking I wanted 7 offices and a shoe closet... nope, just a 2 bedroom condo with a low HOA. Would actually even prefer it to not be flipped since most of the time flipped houses aren't my style/done quickly with low cost materials.
If the prices are so high, then what someone should do is buy the smallest ugliest cheapest house, and add additions to the house with more bedrooms. I mean it really doesn't cost too much to actually build a small house. So you can make a ton of money doing that.
Unless the zoning prevents it. Which is the big problem. And many parcels don't have a ton of extra space for additions. Remember the thoughts you're having are things people have been thinking about and doing for quite a while.
Amazing what's happened to house prices, very sad for young people,who'd like to live here, but these prices are so insane Those places were 40k in the 80's One good thing about being older,mortgage free and beach close
Great video, Shelby! That’s so exciting that your parents are interested in moving to Palm Springs!
PS I’m waiting for all the “you can buy a mansion in Texas for that price” comments 😂
Some areas of Texas are getting up there too. It'll be a matter of time city living really drives the cost up, but hey Lacy and Scott Peterson's home in Modesto just got listed and that's sitting at 500K so I wouldn't take all the prices around LA as a standard for the state.
Yay I am happy you are back in LA! I left too for 2 years to Canada but am moving back in 2 weeks. I miss it. Love your vlogs.
If you're considering NYC, you can get a lot of space in Hoboken or Jersey City (the heights or Downtown). I'd say more people hang out at people's places in NJ than NYC and you can get to Manhattan in 20 minutes tops depending on where you are.
Thought this said “house haunting”
I like house number 2 with the rooftop deck and getting a nice view. I agree, it would be a nice spot to decorate for mini hangouts and gatherings.
And what you listed after saying “I don’t think people will stop moving here” proves my point I’m about to say
funny how these 70's teardowns would be under 100k in a rural environment, but people sink themselves in a million dollar mortgage for relatively ugly places.
HAHAHA "relatively ugly". I look at the scorched, blasted wasteland of SoCal and wonder why anyone still lives there at all.
The first house is so pretty, but I am so skeptical of flipped houses. So many flippers cut corners and you end up paying a lot of money to fix things.
You helped me realize lighting is a non negotiable for me. Thank you!
You were looking in Los Angeles Counties' West Side. "L.A." The city is AKA downtown, East of where you were. I am surprised your Agent didn't mention that. L.A. County is huge. Try looking in Long Beach's downtown, Belmont Shore, or Naples Island. You get a lot more for your $$ and you get ocean views.
Have you tried looking just outside of LA? Orange or Ventura counties, San Fernando Valley? They’re all short drives (35-60 min) to the city or to a beach and you get more…
Ventura is pretty expensive as well. I would actually say Azusa has the best offer in terms of being in L.A., but realistically, Crestline/Lake Arrowhead (San Bernardino Mtns) has the best bargain for your buck. It's just the matter of wildfire-proofing your entire property which gets insanely expensive and the water conservation initiatives make it challenging for that to be allowed.
Basically, what I got from this, is LA is overpriced and pointless.
I've been looking to buy a condo in the same areas. I'm checking out Long Beach for a slightly better deal.
Why would you stay there?
dam for that price in Arizona you be living like royalty
LOL I'm a real estate photographer and your're right I can make things look amazing but are they really? Often it's all my lighting and editing.
Yo! does anybody know the meaning of '#B ' She put it in the description
DEF want updates and more videos on your house hunting journey!!
Did anyone count how many time Shelby said lighting
What house 1 million gets you in LA? Unfortunately, no house at all, probably more like a condo if even depending on the area. Looking forward to seeing your video, though!
This is a problem throughout the coastal regions of California unfortunately. One of my older colleagues took out a mortgage for half a million for a small home close to work and raise 4 children in South San Jose. It doesn't pale in comparison that a decent house in NorCal is $2 million asking price, and techies, finance bros, and investors are all driving the prices through the glass ceiling.
Long Island is more reasonable at the mansion level. You can pay 3MM for what would be 12MM in LA. plus LI is a much safer place in regards to fire, earthquake, mudslide, safety (home invasions). And the people are more down to earth. Nyc is 23 minutes from Great Neck.
@@ericB3444 Ohh wow that's actually sounds- dare I say "reasonable" haha. Nothing beats SoCal weather though!
@@ericB3444 Hurricanes?? I'd hate to lose everything in a flood zone.
Could you do one of these for the Greenville/ Taylors area in SC?
I find it funny that in the first property they have to wear cloth protectors on their shoes in a house that is located in Hollywood. Do you know how dirty the air is in Hollywood? The dust is probably 50× heavier(and bigger chunks) then a place in Malibu or Calabassas.
Genuine question, how can middle class folks afford to live in this city at all? I bought a house in the mid west for $160,000 which I thought was a little expensive, but looking back I am so thankful for having a house.
We can't. I make low to mid six figures and I can't afford to live in LA. $200K down w. $800k loan is over $5000 a month after mortgage, property taxes, and insurance.
@@yelnatsch517 I am sorry to hear this. Have you considered moving out of LA at all? What is keeping you there? Family? I always wondered why folks that live in the big cities actually live there. By the way, I am not at all being sarcastic.
@@yelnatsch517 you make low to mid six figures? That’s quite a range in income.
I can understand making a $100k a year can be difficult to save for a down payment for a home in LA because LA’s living expenses eat into the ability to save for a down payment.
The same doesn’t hold true if you’re making $500k a year and you want to buy a million dollar home that comes with a $5000 monthly mortgage payment that includes taxes and insurance.
That’s just a case of poor budgeting
I loved the 2nd Townhouse too! But, first that price I would expect a pool and better amenities!
You should check out Leimert Park. The neighborhood is pretty chill has the classic LA look.
You couldn't pay me $1 million to live in LA
In Vegas you can still get 2,500 to 3000 square feet new build for less than a million dollars. On the tenant in common I would definitely interview the other owners that you would have to deal with as long as you owned the property and also find out if they are when if ever they are going to sell their half and if you would have any input on that.