Home Buying in 90210>Question Details

Ms. Pillai, Both Buyer and Seller in

What areas shoudl I look in???

Asked by Ms. Pillai, Mon Jan 28, 2008

I currently own a house in South Bay. I will probably get about 100K-125K after I sell it. I m lookign to buy in the BHPO/Cheviot Hills area. my monthly income is $15,000. Debt= $650/month. I am looking for a single family home with at least 400sq ft yard. What price range should I be looking at? are there other areas worth considering?

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Answers

9
Nancy Sanborn’s answer
If you are looking for a home in Cheviot Hills you can anticipate paying at a minimum $1,000,000 but most of the homes in the area are listed over 1,400,000. You may consider Rancho Park which is directly North of Cheviot Hills. I do not believe that you will find a home in the BHPO at this time.
I would encourage you to consider Mar Vista, West Los Angeles or Beverlywood and Beverlywood adjacent at this time. I believe that you will find a lovely home that will fit your budget.
Web Reference: http://www.sanbornteam.com
2 votes Thank Flag Link Tue Jan 29, 2008
BEST ANSWER
From a qualification standpoint, you could probably qualify for a home price up to $850K or more with $100-$125K as a down payment. This is of course based on having at least a 660 FICO score and fully documenting your income and having sold your other home first. If you are willing to look at doing an interest only loan you can qualify for an even higher purchase price (if you need to) since it would reduce your monthly payment by over $600 per month. Good luck and I hope you find the house that fits all of your needs.
0 votes Thank Flag Link Mon Jan 28, 2008
Hi Ms. Pillai,

I have looked through the active listings on the MLS. There are 5 listings in Cheviot Hills, 1.2 or under, that have either pools or huge backyards. I looked in BH and BHPO. There were 8 listings below 1.2. All but 1 have minimal backyards. Most of them have big hillsides behind them. The one exception is on Benedict Canyon and has a pool.

Cheviot Hills as follows;
2646 Westwood, 10570 Troon, 2720 Dunleer Pl., 3326 Shelby, and 2846 Glendon.

Hope this helps.

If you want to search a free MLS I have one on my website. No registration is required so you can just jump on and stear searching.

Thanks

Sarah Dupree
1 vote Thank Flag Link Wed May 21, 2008
This would be an excellent question for you to ask a local real estate agent.
0 votes Thank Flag Link Wed Oct 30, 2013
Hello Ms. Pillai,

I am an agent at Coldwell Banker, Brentwood. I specialize in Westside Real Estate and know the areas and pricing very well. There are many great areas on the Westside of Los Angeles where you can find a home for less the $1.2 million. Without really knowing you, it would be difficult to determine which areas best suit your needs.

As far as financing is concerned, I can put you in contact with several reputable mortgage brokers who can tell you the best way to structure financing for your home purchase.

If you are interested in learning more about specific residential areas on the Westside, I would be glad to meet with you and get to know you and exactly the type of home you would like to purchase.

Sincerely,

Aaron Mirsky, Sales Associate
Coldwell Banker, Brentwood
310.270.7548
DRE#01856545
http://www.westsidedomiciles.com
0 votes Thank Flag Link Tue Jul 13, 2010
1.2 million and below, I have properties for sale that are not listed in my office. We are the #1 Brokerage in Beverly Hills, and California. If you want to see pocket listings or unlisted properties for sale, contact me.
Web Reference: http://www.marcwizman.com
0 votes Thank Flag Link Thu Apr 10, 2008
My first suggestion is that you sit down with a professional mortgage broker to determine exactly how much home you can afford and what loan programs are available for your anticipated purchase. In today's lending environment income is only one component of the qualifying process. You will most likely be required to put a minimum of 15% down, but most likely 20%. I would agree with The Sanborn Team's response in that you are most likely to find a home in the Mar Vista, Culver City, and Beverlywood neighborhoods that meet your criteria. There are many wonderful opportunities in today's market so don't get discouraged. If we can help you in any way please don't hesitate to call.
0 votes Thank Flag Link Sat Apr 5, 2008
Hi, Ms. Pillai. Tisza is right - what a great time for you to buy! My office is in Studio City and we work the BHPO/Cheviot Hills consistently. I would love for you to come into my office and sit down with me and with a loan officer.

We can show you the numbers and at same time show you what is available in your desired area(s). We can go over the list of properties available and determine what you would like to go visit personally.

If this meets with your approval or if I can help in any way please contact me!

All the best,
Dot
818.432.1671
Web Reference: http://www.DotChance.com
0 votes Thank Flag Link Mon Jan 28, 2008
HI Ms. Pillai,

Boy, are you entering the market at the right time. Prices in all areas are normalizing and you will be able to get a whole lot more home for your money than you would have been able to get a few years ago. The areas you are looking at are great.

Suggesting other options is somewhat difficult without knowing what you need beyond the basics. A good agent should sit down with you and find out all of your needs including what an acceptable distance from work would be for you. It would also be a good idea to talk about everything from layout of the home to whether you prefer a more suburban environment or an oasis within the city.

I would love to sit down and talk with you about what you are looking at and what you are looking for. Having grown up in the South Bay, lived in the Fairfax district (right near Melrose) and ultimately in the Hollywood Hills, I know the areas pretty well :-).

Feel free to give me a call or drop me an email. (Tisza(at)HomesByTisza.com) I look forward to hearing from you soon.
Take care,

Tisza Major-Posner, Realor, Keller Williams (213) 392-4084 or (909) 837-8922
Web Reference: http://Route66Living.com
0 votes Thank Flag Link Mon Jan 28, 2008
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