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Rents in Los Angeles are NOT rising at all
invite response
2012 May 6, 5:30am 18,851 views 44 comments
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Curious.
I just ran a searchon Redfin for 4 bedroom homes sold in Tustin over the past 3 months with a max price of $450K and no other parameters. Not a single one was in a housing development.
Actually, throughout the entire city of Tustin, there were only 12 homes sold with those parameters over the 3 month period.
Not that I'm calling bullshit or anything.
No problem. I live in Tustin Meadows, it's the 1000 or so homes centered around Centennial Park.
A couple random comparables:
This is our model of home from within the neighborhood.
http://www.zillow.com/homedetails/14711-Emerywood-Rd-Tustin-CA-92780/25471977_zpid/
This is the bigger model (two story 4 bed):
http://www.zillow.com/homedetails/2012-Kingsboro-Cir-Tustin-CA-92780/25472431_zpid/
There are certainly plenty of sales in the neighborhood in the high 4s and low 5s (5s especially if you have a bigger corner cul-de-sac lot), but I was just ball parking based on the better deals from recent sales. Zillow estimates our home in the mid $430s and it's fairly standard inside and out. We looked at two of the bigger models, one was renting for $2700, the other for $2800.
No problem. I live in Tustin Meadows, it's the 1000 or so homes centered around Centennial Park.
A couple random comparables:
This is our model of home from within the neighborhood.
http://www.zillow.com/homedetails/14711-Emerywood-Rd-Tustin-CA-92780/25471977_zpid/This is the bigger model (two story 4 bed):
http://www.zillow.com/homedetails/2012-Kingsboro-Cir-Tustin-CA-92780/25472431_zpid/There are certainly plenty of sales in the neighborhood in the high 4s and low 5s (5s especially if you have a bigger corner cul-de-sac lot), but I was just ball parking based on the better deals from recent sales. Zillow estimates our home in the mid $430s and it's fairly standard inside and out. We looked at two of the bigger models, one was renting for $2700, the other for $2800.
Nice house... Perfect example of a fair price in Los Angeles Area... (Ok, this is the OC)... But perfect example of rental parity in play that everyone keeps denying is happening!
No one going to comment about what decent deal this guy got on a home in Tustin... Oh well
FuckTheMainstreamMedia
2012 May 10, 12:43am
No one going to comment about what decent deal this guy got on a home in Tustin... Oh well
Really?
You really want me to keep commenting on a series of posts where OP posts:
1.) An OUTDATED sale price(lol "comp") from over a YEAR ago.
2.) On a situation where the OP keeps changing the price range we are discussing, from an initial amount of $430K to $500K.
3.) quotes of zestimates and zillow rental amounts which are notoriously inaccurate.
Every home in the past three months in that tract sold for $490-530K. Except for one possible outlier that sold at $425K. But I'm too lazy to go research that.
Really realtor? Really?
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I get rather annoyed when I see stories like this one:
http://www.latimes.com/business/la-fi-renters-nightmare-20120506,0,7137775.story
I don't know where they are getting their data, but a simple graphing of 15,470 rental prices in LA Craigslist postings show no increase at all over the last year:
There is just no way on earth you can truthfully claim rents are "soaring" in LA.