how do you afford moving INTO california???

[kid a]

Will possibly need to move to cali (has to be LA area) next spring. How the heck do I buy a house???
I now pay $1,800/mo on a 15 yr loan. We would most likely have around $100,000 to work with in finding a place. But i can't imagine us moving into anything below $650,000. How do people moving there make it? Downsize?? COmbined we make around 140,000

Californian home owners .... real estate advice?

Edit: Has to me LA area - near Burbank

[Broken_Hero]

1. I have no idea

back in 2000, I tried getting a house in Sacramento, and it seemed damn near impossible to get anything unless you made around 50-60k a year(minimum)...

[nini]

2. you move farther from the city

which means you have a commute from hell.


the last rise in prices have pretty much killed first time buyers or buyers who come from outside areas. It sucks to high heaven. Your property taxes on a 650k house will be about 8k a year - don't forget that. Good ol' prop 13 has hurt many new buyers.


If you're making 140k between you, you can buy - just most of your money will go into your housing. Get something like a condo or move north of Burbank area towards Santa Clarita, Palmdale etc.. but the commute :scared:


Good Luck

[zonkers]

3. Folks have been leving CA in droves (check out data in this housing link)

Now is not the time to buy in CA. It is the time to rent, which is not cheap. Things might change dramatically by next spring.

http://www.socalbubble.blogspot.com/