patrick.net

Katy Perry says

That’s my dream Home but in a bubble world. I hope it’s $600k in five years. only one bathroom though hmmm?
Pasadena is the “watch and learn” city for me at the moment. I feel what happens here is very telling.

Actually, this is the city of South Pasadena, not Pasadena :-)

Mr.Fantastic says

Honestly that house is probably worth no more than $225,000. That’s pushing it. What an outdated dump.

you do live in the newer OC area then? ha :-) , bro these things IMO are some of the best built dwellings in the history of CA .

For my sanity please knock the price not the build. maybe the value is not there for the price But props must be given to this style and quality of build. ( maintained properly.)

now Mr. fantastic please go walk over to any wall in your house and punch your hand through it. also go outside and at any top corner of any window or door. what do you see? a crack in the stucco right? at twenty pounds a sq foot that stucco wont be there for another 10 years IMO. OK I'm going a little off track with this but many newer houses in CA are badly built.

Foundation issues are a given with this age of house. My parents have a twenty year old house on a slab with a one inch crack running from one end to the other.

my main point,.. there will always be big demand for these well built well styled dwellings in CA.

House value,... (what you get for what you pay) seems to really be the thing that has changed over the last 100 years in CA IMO.
I feel like this is often and easily over looked here in "everything is new land So Cal."

just say'n

Katy Perry says

That’s my dream Home but in a bubble world. I hope it’s $600k in five years. only one bathroom though hmmm?
Pasadena is the “watch and learn” city for me at the moment. I feel what happens here is very telling.

Realistically 300 if you consider the trend.

It is in a really nice area close to everything. The schools k-12 are some of the best. Everyone living here takes extreme pride in taking care of their neighborhood. I have walked by this house many times and have taken my kids to the park right around the corner it is a very nice house. I doubt this house would ever sell for less than 600k because it’s location. I bet if it's sold for asking it's to Chinese.

rpanic01 says

It is in a really nice area close to everything. The schools k-12 are some of the best. Everyone living here takes extreme pride in taking care of their neighborhood. I have walked by this house many times and have taken my kids to the park right around the corner it is a very nice house. I doubt this house would ever sell for less than 600k because it’s location. I bet if it’s sold for asking it’s to Chinese.

Yep, I saw several young Asian couples at the open house. It is a prime neighborhood here in town, close to all three levels of school. Still, it's hella over priced. Seems like people will pay through the nose to get a house in So. Pas. if they have kids....

These condos are a joke, too. There is a huge bank foreclosure sign out in front, the lone retail business that was in it has moved on, so it's essentially empty. The condos are tiny and right next to the noisy train tracks and station...and, this condo I'm posting is going for $500 per s.f.

http://www.redfin.com/CA/South-Pasadena/909-El-Centro-St-91030/unit-101/home/21660205

PasadenaNative says

schools

This is what Dr. Housing Bubble sais about schools:

"I’ve also seen people say “I am willing to buy this crap home that is the size of a dog house to send my kid to the great school in this neighborhood.” This argument emerged mostly during the housing bubble. In the past people did buy in good neighborhoods and it was assumed you had good schools as a perk for buying an actual nice home. The last decade saw people buying absolute junk homes simply because of the schools in the area. It was a delusional financial move. What these people are saying is they are willing to live anywhere and pay the price for a good school. We see this nonsense permeating even in people going into massive college debt just because they need a degree. To these people I would say why not use the money you would save from renting and send your kids to a private school? The propaganda from the real estate industry has screwed up the psychology of many and it still lingers in California even after the housing bubble has imploded. "

dunnross says

PasadenaNative says

schools

This is what Dr. Housing Bubble sais about schools:
“I’ve also seen people say “I am willing to buy this crap home that is the size of a dog house to send my kid to the great school in this neighborhood.” This argument emerged mostly during the housing bubble. In the past people did buy in good neighborhoods and it was assumed you had good schools as a perk for buying an actual nice home. The last decade saw people buying absolute junk homes simply because of the schools in the area. It was a delusional financial move. What these people are saying is they are willing to live anywhere and pay the price for a good school. We see this nonsense permeating even in people going into massive college debt just because they need a degree. To these people I would say why not use the money you would save from renting and send your kids to a private school? The propaganda from the real estate industry has screwed up the psychology of many and it still lingers in California even after the housing bubble has imploded. “

As always, I agree with the good Doctor..

dunnross says

PasadenaNative says

schools

This is what Dr. Housing Bubble sais about schools:
“I’ve also seen people say “I am willing to buy this crap home that is the size of a dog house to send my kid to the great school in this neighborhood.” This argument emerged mostly during the housing bubble. In the past people did buy in good neighborhoods and it was assumed you had good schools as a perk for buying an actual nice home. The last decade saw people buying absolute junk homes simply because of the schools in the area. It was a delusional financial move. What these people are saying is they are willing to live anywhere and pay the price for a good school. We see this nonsense permeating even in people going into massive college debt just because they need a degree. To these people I would say why not use the money you would save from renting and send your kids to a private school? The propaganda from the real estate industry has screwed up the psychology of many and it still lingers in California even after the housing bubble has imploded. “

I personally wouldn't exactly go with what a "Dr. Housing Bubble" says...sounds like he's going to be as "unbiased" as a realtor...

I hav friends that live in areas where the public schools suck and they are sending their kids to private school - 1000/month a pop (Sherman Oaks)...I'd rather put that towards a mortgage and live in an area with amazing public schools...

The cheapest way to live of course is...live in a tent on the beach and have no kids at all, try not to eat much and just sit there all day and contemplate about how shitty and unfair life is...maybe that's what Dr. Housing Bubble is doing...

SubOink says

dunnross says

PasadenaNative says

schools

This is what Dr. Housing Bubble sais about schools:

“I’ve also seen people say “I am willing to buy this crap home that is the size of a dog house to send my kid to the great school in this neighborhood.” This argument emerged mostly during the housing bubble. In the past people did buy in good neighborhoods and it was assumed you had good schools as a perk for buying an actual nice home. The last decade saw people buying absolute junk homes simply because of the schools in the area. It was a delusional financial move. What these people are saying is they are willing to live anywhere and pay the price for a good school. We see this nonsense permeating even in people going into massive college debt just because they need a degree. To these people I would say why not use the money you would save from renting and send your kids to a private school? The propaganda from the real estate industry has screwed up the psychology of many and it still lingers in California even after the housing bubble has imploded. “

I personally wouldn’t exactly go with what a “Dr. Housing Bubble” says…sounds like he’s going to be as “unbiased” as a realtor…
I hav friends that live in areas where the public schools suck and they are sending their kids to private school - 1000/month a pop (Sherman Oaks)…I’d rather put that towards a mortgage and live in an area with amazing public schools…
The cheapest way to live of course is…live in a tent on the beach and have no kids at all, try not to eat much and just sit there all day and contemplate about how shitty and unfair life is…maybe that’s what Dr. Housing Bubble is doing…

SubOink says

dunnross says

PasadenaNative says

schools

This is what Dr. Housing Bubble sais about schools:

“I’ve also seen people say “I am willing to buy this crap home that is the size of a dog house to send my kid to the great school in this neighborhood.” This argument emerged mostly during the housing bubble. In the past people did buy in good neighborhoods and it was assumed you had good schools as a perk for buying an actual nice home. The last decade saw people buying absolute junk homes simply because of the schools in the area. It was a delusional financial move. What these people are saying is they are willing to live anywhere and pay the price for a good school. We see this nonsense permeating even in people going into massive college debt just because they need a degree. To these people I would say why not use the money you would save from renting and send your kids to a private school? The propaganda from the real estate industry has screwed up the psychology of many and it still lingers in California even after the housing bubble has imploded. “

I personally wouldn’t exactly go with what a “Dr. Housing Bubble” says…sounds like he’s going to be as “unbiased” as a realtor…
I hav friends that live in areas where the public schools suck and they are sending their kids to private school - 1000/month a pop (Sherman Oaks)…I’d rather put that towards a mortgage and live in an area with amazing public schools…
The cheapest way to live of course is…live in a tent on the beach and have no kids at all, try not to eat much and just sit there all day and contemplate about how shitty and unfair life is…maybe that’s what Dr. Housing Bubble is doing…

A private school is still better than even the best public school. That's why lots of people who buy into the realtor propaganda and buy into the level K-12 schools, eventually end up enrolling their kids in a private school, anyways. Besides, you don't have to be paying a mortgage to go to a good public schools. Renters have access to same public schools as home owners, for a lot less $$.

dunnross says

A private school is still better than even the best public school.

That's a load of crap.

It should depend on the individual child and their needs, not test scores and school reputation.

tatupu70 says

Sunday, 6 Mar 2011 at 2:33 pm Top Quote Email Flag

dunnross says

A private school is still better than even the best public school.

That’s a load of crap.

No it's not. Private schools have small class sizes and pay special attention to each child. In a public, schools, if your child doesn't learn, no one cares. Top public schools get their reputation from high test scores and peer competition, not from actual teaching. It's a known fact that top scoring schools actually spend less $$ per student, because their students don't need special programs or better trained teachers. Any teacher can teach those kids, because the kids teach themselves. My kids went to both top rated public and private schools, and, I can assure you that there is a huge difference.

SubOink says

I hav friends that live in areas where the public schools suck and they are sending their kids to private school - 1000/month a pop (Sherman Oaks)…I’d rather put that towards a mortgage and live in an area with amazing public schools…

Bogus. In Sherman Oaks you'll spend far more than $1000k extra over renting a comparable house in a neighborhood with "amazing" public schools.

Dr. Housing Bubble's statement is merely a call to live smarter, not poorer.

dunnross says

My kids went to both top rated public and private schools, and, I can assure you that there is a huge difference.

Oh, well by all means, a sample size of 1 certainly proves your point about ALL private and ALL public schools.

tatupu70 says

That’s a load of crap.

Private schools get their money from the parents. So, their goal is to give your child a better education, so that you keep paying, and other parents want to enroll too. Public schools get their money from the state, which gives them money based on your child's attendance. So, they only care whether your child attends the school, but not whether they learn anything.

dunnross says

So, they only care whether your child attends the school, but not whether they learn anything.

And again. That's a load of crap.

tatupu70 says

And again. That’s a load of crap.

Do you actually think the state gives the school more money if your kid has better grades? If they don't, then I am right, and you are wrong.

dunnross says

If they don’t, then I am right, and you are wrong.

Do private schools charge more to parents of A students? Or do they give a discount to C students?

If they don't then I am right and you are wrong.

tatupu70 says

Do private schools charge more to parents of A students? Or do they give a discount to C students?

You completely missed the point, tatapu. Public schools have no incentive for their students to do better, because their source of revenue is not linked to the actual student achievement (Bush's NCLB program tried to change this, but it failed, miserably). Private schools do, because if their students don't do well, their parents will pull them out, and take their money elsewhere. Hence, private schools have to compete with each other for the parent's money. Public schools don't compete with each other, because students don't have a choice which public school to attend. If they did, like children in Belgium do, for example, the level of public education would be highly superior in this state. In Belgium, children are not tied to a particular school, based on their particular street address. A given student in Belgium has a choice of 5-6 schools which they can attend, so schools compete with each other for that student's money.

Philistine says

Bogus. In Sherman Oaks you’ll spend far more than $1000k extra over renting a comparable house in a neighborhood with “amazing” public schools.

Dr. Housing Bubble’s statement is merely a call to live smarter, not poorer.

Depends on how many kids you have, right? If you have 3 kids in private school = $3000/month

That alone is more than my mortgage...

dunnross says

You completely missed the point, tatapu

No I got your point. I was just showing you that it's ridiculous. Do you think most teachers went into that profession for the money? Obviously not. Money is not the only motivator. So, your entire premise is wrong....

tatupu70 says

Do you think most teachers went into that profession for the money?

Maybe the teachers don't, but the schools do. If the schools don't get their money, they will close, and there won't be any education. Unfortunately, for the children, the schools get their money according to attendance, and not according to academics. That's why no public school can compete with a private school or with a public school in Belgium.

dunnross says

Maybe the teachers don’t, but the schools do. If the schools don’t get their money, they will close, and there won’t be any education. Unfortunately, for the children, the schools get their money according to attendance, and not according to academics. That’s why no public school can compete with a private school or with a public school in Belgium.

I understand your point, but your logic is flawed. You agree the teachers aren't motivated by money. And teachers have the largest impact on the performance and learning of a student (at school anyways. Home environment is obviously VERY important as well). Therefore, money isn't the driving force behind public school performance.

The largest difference between public and private are parents not teachers, just like with the difference between a good and bad public school. With private I would think parents would be more involved since they are having to pay for it just like they would have to pay more mortgage to live near good public school. Just like anything else when people have skin in the game they tend to care more.

tatupu70 says

. You agree the teachers aren’t motivated by money. And teachers have the largest impact on the performance and learning of a student (at school anyways. Home environment is obviously VERY important as well). Therefore, money isn’t the driving force behind public school performance.

Maybe teachers are not motivated by money. But they are motivated by having to keep their jobs in the first place. Money is what makes it possible.

dunnross says

tatupu70 says
. You agree the teachers aren’t motivated by money. And teachers have the largest impact on the performance and learning of a student (at school anyways. Home environment is obviously VERY important as well). Therefore, money isn’t the driving force behind public school performance.
Maybe teachers are not motivated by money. But they are motivated by having to keep their jobs in the first place. Money is what makes it possible.

Money makes everything possible. Not sure how they relates to your ridiculous assertion that the worst private school is better than the best public school.

It took less than 2 weeks for this quaint little house in a great school district to sell...a lot cheaper than paying for private school for 2 kids at $40k/year.

I'm guessing it didn't sell for anywhere close to what all of you PermaRenters think it should sell for, and a lot closer to the list price:

dunnross says

2006 was a the peak of the bubble. They should be asking 1/4 of what they paid for it in 2006.

Mark_LA says

It took less than 2 weeks for this quaint little house in a great school district to sell…a lot cheaper than paying for private school for 2 kids at $40k/year.
I’m guessing it didn’t sell for anywhere close to what all of you PermaRenters think it should sell for, and a lot closer to the list price:
dunnross says

2006 was a the peak of the bubble. They should be asking 1/4 of what they paid for it in 2006.

I am not surprised - the real world is quite different than depicted in this forum...

SubOink says

Mark_LA says

It took less than 2 weeks for this quaint little house in a great school district to sell…a lot cheaper than paying for private school for 2 kids at $40k/year.
I’m guessing it didn’t sell for anywhere close to what all of you PermaRenters think it should sell for, and a lot closer to the list price:
dunnross says

2006 was a the peak of the bubble. They should be asking 1/4 of what they paid for it in 2006.

I am not surprised - the real world is quite different than depicted in this forum…

LOL. IF it sold at or near list and IF it doesn't fall out of pending status(My money is on this LOL), I'd love to speak to the cross-eyed people who paid 2006 prices.

Specifically, I'd love to know if they bought so that their children(if any) can attend school there, as that seems to be an overriding concern of those posting here(and if a family of 3 or 4 is just fine with one bathing facility). I'd also LOVE to querry them as to how long they intend to reside there(I'm guessing less than 5 years).

i think this was jack nance's home in pasadena that he was killed in by a serial killer...? he was in blue velvet....his body was discovered on the bathroom floor.

I'm not sure why school is such a big factor. I graduated from a public school and I'm doing much better than many who went to private schools. Success depends more on parent involvement and personal desire to succeed.

Our girl is going to be fine with her public schooling. I rather prefer that she sees the harsh realities of life and the destitute immigrants who have very few chances in life. This way she appreciates success a lot more, seeing the important things in life from different perspectives. For me that certainly was motivation.

Mr.Fantastic says

Nance didn’t own a home in South Pasadena, he was of the permarenter population that MarkInLA seems to look upon with disgust.

nance went to private school.......

ChrisLA says

I’m not sure why school is such a big factor. I graduated from a public school and I’m doing much better than many who went to private schools. Success depends more on parent involvement and personal desire to succeed.
Our girl is going to be fine with her public schooling. I rather prefer that she sees the harsh realities of life and the destitute immigrants who have very few chances in life. This way she appreciates success a lot more, seeing the important things in life from different perspectives. For me that certainly was motivation.

You've got the right point of view.

But there are people who live by the motto that nothing is too good for Jr. So even though Jr. could go to a mediocre school and do plenty fine...go on to do what ever career or life path they wish, many parents want the very best for the kids.

I can't explain the obsession. I'd probably slit my wrists if my parents sent me to someplace like Whitney. But some people place a priority on that.

Frankly, I think they fail if they don't teach the children how to be proper grown ups and also to view life in a logical manner(ie most parents fail), but thats just me I guess.

709hannah says

i think this was jack nance’s home in pasadena that he was killed in by a serial killer…? he was in blue velvet….his body was discovered on the bathroom floor.

No, Jack Nance lived on Fair Oaks by the 110 and he was not killed by a serial killer. Google him, and read about it!

Forgot to add that Nance lived in an apt ;-) A friend of mine almost rented the same apt. after Jack's passing...

I think the point has already been made in this forum, and not to sound too sell-sell-sell-y, but: homes in L.A. county that are less than 30 years old are considered YOUNG. Most homes built here are at least 60 years old.

The value of schools here can't be underestimated, and South Pasadena's public schools are excellent -- all the way through high school. Very few other communities have schools anywhere near as good for grade, junior and high schools. And local private schools cost about $20k+ a year -- for grade school. Multiply that by, say, three kids. All of a sudden, a high mortgage (with its attendant tax deductions) begins to look pretty good by comparison...

Mr.Fantastic says

PasadenaNative says

Forgot to add that Nance lived in an apt A friend of mine almost rented the same apt. after Jack’s passing…

Did your friend drop out after finding out about Nance?

No, the reason he looked at it in the first place was because Nance lived there (kind of morbid, I know). It was a tiny unit, that's why he passed on it.

sfvrealestate says

I think the point has already been made in this forum, and not to sound too sell-sell-sell-y, but: homes in L.A. county that are less than 30 years old are considered YOUNG. Most homes built here are at least 60 years old.
The value of schools here can’t be underestimated, and South Pasadena’s public schools are excellent — all the way through high school. Very few other communities have schools anywhere near as good for grade, junior and high schools. And local private schools cost about $20k+ a year — for grade school. Multiply that by, say, three kids. All of a sudden, a high mortgage (with its attendant tax deductions) begins to look pretty good by comparison…

I went to South Pas. Jr. high and high school - - too intense and competitive for me. I dropped out, took the GED, then went to college and grad school. Every kid is different, you can't stick a highly sensitive child into a cut-throat school and end up with a happy well adjusted little person.

PasadenaNative says

sfvrealestate says

I think the point has already been made in this forum, and not to sound too sell-sell-sell-y, but: homes in L.A. county that are less than 30 years old are considered YOUNG. Most homes built here are at least 60 years old.
The value of schools here can’t be underestimated, and South Pasadena’s public schools are excellent — all the way through high school. Very few other communities have schools anywhere near as good for grade, junior and high schools. And local private schools cost about $20k+ a year — for grade school. Multiply that by, say, three kids. All of a sudden, a high mortgage (with its attendant tax deductions) begins to look pretty good by comparison…

I went to South Pas. Jr. high and high school - - too intense and competitive for me. I dropped out, took the GED, then went to college and grad school. Every kid is different, you can’t stick a highly sensitive child into a cut-throat school and end up with a happy well adjusted little person.

I feel the same way(though I did finish high school with my whopping 2.4 gpa at a craptacular "5" Great Schools high school). Went to 4 year state college, work in the same job and make the same money as UCLA, Berkley, USC, Notre Dame, etc graduates.

LOL.