June 16, 2006

Price of Admission in Atwater Village

A new housing-price comparison show, National Open House, debuted this month on HGTV with an episode comparing prices in Los Angeles, Ann Arbor (MI) and Austin (TX). Guess how it turned out:

    $250,000

    • Ann Arbor: 15 minutes from campus; two-story colonial; 2,100 sq ft; 4 bedroom; 2.5 bathroom; $625/month interest-only mortgage payment

    • Austin: 10 minutes north in Round Rock; 3,000 sq ft; 4 bed; 2.5 bath

    • Los Angeles: "not very much" in Canoga Park "45 minutes from Hollywood;" 840 sq ft condo; 2 bed; 2 bath

    $500,000

    • Ann Arbor: apparently a very cold house in Ann Arbor Hills with $300/month heat bills; they didn't say much else

    • Austin: Hyde Park; built in 1938; 1,708 sq ft; 2 bed; 2 bath; plus garage apartment with additional 600 sq ft, 1 bed, 1 bath

    • Los Angeles: "admission price into the Los Angeles real-estate market to get anything half decent;" Spanish cottage in Atwater Village; 747 sq ft; 2 bed; 1 bath; "big backyard"

    $750,000

    • Ann Arbor: "modified Mission" in wooded community of Dexter; 3,460 sq ft; 4 bed; 3.5 bath; 1.5 acres

    • Austin: a Texas "super Tuscan" mansion; 3,900 sq ft; 4 bed; walk-out basement

    • Los Angeles: Culver City; built in 1951; 954 sq ft; 2 bed; 1 bath; plus one-room guest house/studio

    $1,000,000

    • Ann Arbor: 6,200 sq ft; 4 bed; 3.5 bath; half acre; $3,750/month mortgage payment

    • Austin: "a lot for your money" in West Lake Hills; 4,500 s ft; 3 bed; 3 bath; glass walls; pool

    • Los Angeles: "not get what you expect; there will not be a gate; it will not be a mansion;" west LA home with 1,450 sq ft; 3 bed; 2 bath; purchased 10 years ago; $1,900/month mortgage payment
One final factoid from LA Realtor Brock Harris: 20 percent of all LA listings are $1 million or higher.

There's another nearly identical HGTV show, What You Get For the Money, but it compares across only one price range per episode. It often includes LA, but I haven't seen Atwater Village on it yet.

(Watch the last half of this promo video to see an Eagle Rock house, 810 sq ft, 2 bed, 1.5 bath, purchased four years ago for $180,000, now worth $500,000. )

4 comments:

8763 Wonderland said...

Jesus, I'm going to be stuck in this residential hotel in Glendale for the rest of my days. Ridiculous.

sagedj said...

atwater was on the HGTV program this past week Monday June 12th and Tuesday June 13

blogger said...

No worries, Wonderland, I hear you don't have to pay it all at once. - AVN

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