Let me preface this post by saying that it’s been over 100-degrees every day for the past week, so this may be contributing to my negativity. With that said, the more I search the homes for sale, the more I think, “Why do I continue to live in Los Angeles?” I’ve been browsing multiple websites for both land and home sales and let me just say $275,000 doesn’t get you much of a house, or any house, for that matter. Earlier in the year, there seemed to be a much larger inventory of homes in the smallish square foot range that were moderate fixer-uppers. Currently, the homes for under $300,000 are in really bad areas, are falling down (literally), or will most likely sell for much more than the listing price.
What I’m finding is that many homes that appear in decent condition and are priced below $300,000 are being sold at almost $400,000! This is ridiculous considering these homes are under 1,500 square feet and still need some work. Is Los Angeles the most over priced city? I would have to agree and say, yes. If you average out the square foot cost of homes in my area, they are at about $319 per square feet. That seems high especially since the homes are old, most were built in the early 1950’s.
So, why do I stay, you may wonder? Well, usually our weather is beautiful. However, over the past three years my husband and I have noticed that we have been getting some unusual heatwaves, lasting for over a week with temperatures topping 108-degrees. When I was a child, this was very rare. Yes, we would get some hot days, but nothing like what I’ve seen lately. We’ve also been in a drought for the past few years, so I’m beginning to wonder if we will eventually have to move toward Arizona-type landscaping. I fear that our unusual weather patterns may be with us a while, perhaps due to global warming. If this is the case, I might as well move to Arizona for half the cost and live in an arid climate with 180 days of 100-degree weather.
There is another reason for why I stay in Los Angeles, our city’s diversity is unlike anywhere else (except, perhaps New York City). My husband and I love the diversity of the city and all the different sections of town. If it weren’t for the horrible traffic, I think we’d enjoy venturing out towards downtown more often. We enjoy seeing different people out and about in our community. Our cultural diversity makes the city come alive.
Hopefully, as we near the beginning of the year and the temperatures cool down, the real estate market will begin to look more promising. I won’t be as irritated at the weather and may feel more optimistic. I may also have to expand our searchable area and look farther north or east, this is a possiblity my husband and I have discussed. C’est la Vie!