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Registered Sep 23, 2010
r2t's most recent comments:
- On 6 Jan 2011
5057 Nestle Ave., Tarzana, CA 91356,
It's a good question, and I follow the rental market around here closely (as I rent a house in the same neighborhood, just a couple streets over)...
...but there's no easy answer. Why? Because rents seem to be all over the place in the last year or so.
- A fairly nice remodel in the same neighborhood (though not as nice as above), about the same size, was inititally listed for $2600/month. It's been 3 months, and they still haven't found a tenant.
- More recently, a 3bed/1bath in decent shape (even further south of the boulevard, hardwood floors, etc.) was listed for $1850/month. It rented within days.
- On the low end, an older house situated on a corner lot facing a fairly trafficky street (though not a main street) was renting for the astonishingly low sum (for this neighborhood) of $1600/month! I was tempted to take this one myself, but I finally decided that the layout, condition, and street noise didn't suit me. I thought the house would rent out instantly, but it took over a month to find a tenant.
However, to finally answer your question: Yes, I believe the rent for the subject house, even after being remodeled, would be less than $3K/month.
BTW, IMO, renting may indeed be cheaper than buying in Los Angeles...
...but rents are certainly not cheap!
- On 9 Nov 2010
The Housing Market Is Officially Split,
No, really, you should check out the housing market in Vegas.
Talk about Buying being cheaper than Renting!
No, I'm not a RE agent. I'm just a guy whose parents used to live there and follows the market just for kicks.
If you don't believe me, go to Realtor.com. Type in a range of $74,000 to $76,000. In just this narrow range around $75,000...
...you get a return of 250+ houses for sale!
Not condos, not townhomes, but single family houses.
Of course, not all of them are gems. And these days, you have to be careful about what part of town you're buying in.
But some of these are decent little homes:
I live in SoCal, where you can't buy a toolshed for that kind of money.
And I used to think the buffets were priced to sell!
- On 27 Sep 2010
4931 Chimineas Ave, San Fernando Valley, CA 91356,
The house on the left is now finished (this Google Maps image must have been taken about 2 years ago).
Every house on this street started out (in 1950) as a 2bed/1bath, 800sqft ranch home on a 5500sqft lot. Since then, most people have expanded, and in the last 5 years, many 2-story behemoths have been built: 4000-5000sqft homes on 5500sqft lots!
The house "For Sale" is wedged between 2 such houses.
I call a situation like this "Living in McMansion Canyon".
P.S. I forgot to mention, I rent one of those original 2bed/1bath houses (the 1-car garage was converted into a 3rd bedroom). I'm looking to move, and have been for some time, but prices AND rents in SoCal allow no easy solutions!