Comments on: REO NOT priced to sell at $221/sf

By: Headless Unicorn Guy

Headless Unicorn Guy — Mon, 29 Sep 2008 19:18:10 +0000

P.S. Though part of the El Monte school district and (at least in the Sixties) on county unincorporated land, the street addresses are Arcadia. That’s probably how it qualifies as Arcadia, though it’s better described as the no-man’s-land between South Arcadia and North El Monte.

By: Headless Unicorn Guy

Headless Unicorn Guy — Mon, 29 Sep 2008 19:16:12 +0000

Definitely El Monte school districts. Rio Hondo Elementary, Arroyo High.

How do I know? I grew up in that neighborhood, from 1958 to 1975. Rio Hondo Elementary 1959-1969, Arroyo High 1969-1973. You can see my childhood home on the small-scale aerial shot: backed up against the quarry-now-lake, right where the current shoreline jogs away from the street grid.

Back then, it was a blue-collar Levittown built right after WW2. Originally 2BR 1BA 900SF, on 50×100+ lots, with one-car detached garages. At the time (the Sixties), a lot of families (including mine) were adding-on to where there were a lot of 3BR 2BA 1200SFs with backyard pools and two-car detached garages. Still a somewhat-modest working-class suburbia.

But THIS 2900SF monstrosity???????

My memories of growing up just got reamed up the ass. AGAIN.

By: Firstdown

Firstdown — Sun, 03 Aug 2008 15:58:12 +0000

180 west duarte road is directly across from arcadia high school. It’s not anywhere close to TC district lines.

By: kei

kei — Sun, 03 Aug 2008 06:49:30 +0000

Looks like it’s Arcadia USD but it may be one of those bordering / overlapping areas where the city may force you to attend TC:

District Look Up by Address

Districts matching this address: 180 W DUARTE RD, ARCADIA 91007

* COUNTYWIDE
* 26TH US CONGRESSIONAL
* 29TH ST SENATE
* 44TH STATE ASSEMBLY
* 5TH SUPERVISORIAL
* 4TH BOARD OF EQUALIZATION
* CITY OF ARCADIA
* PASADENA AREA COMM COLLEGE
* PASADENA AREA COMM COLLEGE TA 7
* ARCADIA UNIFIED SCHOOL
* METROPOLITAN WATER DIST SO CAL
* UPPER SAN GABRIEL VLY M W
* UPPER SAN GABRIEL VLY M W DIV 1
* SAN GABRIEL VLY MOSQUITO ABATE
* METRO TRANSPORTATION
* L A COUNTY FLOOD CONTROL

By: Cato

Cato — Sat, 02 Aug 2008 22:17:43 +0000

It’s pretty pathetic when sellers lie about school districts. 180 West Duarte Road, Arcadia, CA 91007, MLS ID# W08109807 This half a million dollar home claims to be in AUSD but is actually in Temple City.

By: llking

llking — Sat, 02 Aug 2008 15:44:35 +0000

Don’t forget that the new Housing Bill will also boost your federal tax standard deduction up by $1000. A winner for renters.

By: Sean

Sean — Sat, 02 Aug 2008 02:49:50 +0000

Yes, $155 sq/ft would build you a very nice new home. The issue is the land cost. But when looking a old home don’t consider the new cost to build. An old home is much like a used car. It’s going to be costly to repair. Old homes require a lot of money to maintain. And they are often full of toxins (lead) and asbestos! Thus, the true value of a new home has nothing to do with the cost to replace it. It’s much lower unless the home is really something special. (The picture makes it look like just another cookie cutter crap box.)

By: Sean

Sean — Sat, 02 Aug 2008 02:42:09 +0000

To build a cheap home is costs about $80 sq/ft (maybe less depending on labor). Most homes run in the $100 sq/ft range to build. When it comes to upscale homes the price can drastically change. It’s easy to top $200 sq/ft with granite counters, high end flooring, expensive windows, solid wood doors, expensive lights, expensive plumbing fixtures, high end appliances, quality cabinets, etc.

It’s safe to say that most of the newer home in Arcadia are in the $100 sq/ft or LESS range. Honestly, most new homes around here are of VERY poor quality. (And I have been through many.) The look good at first glance, but at closer inspection the walls are out of plumb, the fixtures are cheap, the trim is cheap, even the bathroom fans are bad, in general they use really tacky crap and they often use the cheapest item at Home Depot.

I am not saying that you need a master craftsman to build a custom home, but you really don’t get what you pay for in SoCal. It’s so easy to point out stuff that should have been upgraded. But that would add about $10 sq/ft and that comes out of the profit.

I think the majority of the cost in these homes is the land. You are paying for 365 days of sunshine. And it’s often worth it.

By: TheArcadian

TheArcadian — Sat, 02 Aug 2008 00:13:46 +0000

Ask and you shall receive... 3% $342,183 $2,149/mo 4% $384,248 $2,413/mo 5% $431,006 $2,707/mo 6% $482,927 $3,033/mo 7% $540,526 $3,395/mo *Assumptions: 20% down payment, 30yr mortgage, 6.5% interest, 1% annual maintenance, property taxes and tax savings. Comparable rents in El Monte for 3+ bedroom homes/townhomes are going for $1,800 -$2,300 per month or less.

By: missedthebubble

missedthebubble — Fri, 01 Aug 2008 23:57:51 +0000

My one comment is….

I peg this at $150 to $175 per sqft.

However, taking a page from the Dr Housing Bubble, can we add probably monthly payment in the appreciation chart. Sure we have to assume a lot, but it would add perspective to the debate, or can someone show me the simple equasion on how to figure this out by myself.

My reasoning on this, is what level of income would you need to purchase this house… and would that level of income put up with…

Talked to someone in La Verne, up in the hills, in one of the gated areas, apparently they have two homes that squatters are living in and a bunch of foreclosures/abandoned homes. The squatters showed some level of sophistication because they changed the locks on the house, and apparently the police can’t do anything because the people have keys… someone please verify the validity of this claim…

Have a great weekend…