For the people who have screamed out about "catching a falling knife", I hear ya, really I do. But the uncertainty of living in a rental or buying at a (what we consider a reasonable price) greatly reduced (think early 2004) price in a superior school district at 6.5% interest on our loan really influenced our decision. We will be in a neighborhood that we love (even at night) with parks, superior schools and a grocery store within walking distance. The backyard has room for the swingset of doom. The guest room is sufficiently removed from the rest of the house so my mother in law doesn't have to listen to my children at odd hours of the day and night.
Someone wanted to know what kind of buyers pay $1 million for a lousy post -war box on a postage stamp... well that would be us. While we both understand that we could live in Olathe , Kansas or somewhere off of U .S. 1 for less than a quarter of what we pay here, our jobs, families and friends are located in Los Angeles and here is where we are staying until our jobs move elsewhere. We both purchased homes we loved in our single years and now that we are married with kids, those homes in lousy school districts and "transitional" neighborhoods with no parking and endless parties are not exactly the place for us.So my house is currently in escrow for what feels like the 170 th day for $50,000 less than asking price and the ten of us -- my husband,three children, one exchange student and four cats -- are crammed into one of those 3 bedroom 1 bath post-war boxes in Culver City that everyone seems to love.We are seeking a home within a 30 minute commute of Santa Monica ...
Moving is happening just swimmingly- although there are some plumbing issues to correct before we move in for good. Anon- we are very thankful that we can move in- we weighed the costs and it makes sense for us now, not two years from now. As for Westside Story- I'll update everyone when we start the process of negotiating with the PPCL regarding remodeling. I wonder how they feel about gargoyles and a moat?
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