Adieu, Santa Monica
A quick personal note: The Viles family has picked up stakes and moved a few miles -- out of Santa Monica and into a rental house on the Westside of L.A. We're very happy to have a backyard, a garage full of bikes and surfboards, and a palm tree.
About now most of you are asking who gives a hoot. Well, a small number of you have expressed interest in my living situation. (Does he rent or own? Is he a bitter renter or smug owner?) Since it is, after all, a real estate blog, I've viewed it as within the expected transparency of the blog to answer.
This was not a carefully calculated rent vs. buy decision -- that's a calculation that comes after you've crossed the magical line of affordability. We're happy to be in a small house, and someday we'd like to own one.
Enough personal stuff. Back to the grind!
Thoughts? Comments? E-mail story tips to peter.viles@latimes.com.
Photo credit: L.A. Times
Way to go, Peter. Your decision to rent for now will ultimately put you in a nicer house when you decide to buy again--and in the meantime, sounds like you've got a nice place for you and your family.
Posted by: someday the ants will eat grasshoppers | January 29, 2008 at 08:52 PM
Congratulations, renting is the way to go. Happy for your your kids...
Posted by: CD | January 29, 2008 at 09:22 PM
If we all chip in $10.00 we should be able to buy you a monster big screen tv with none of the associated home equity guilt, in time for Superbowl!
(rental related aside... did I hear the radio correctly a few days ago? Is there really going to be a measure getting rid of rent control in the upcoming june ballot?)
Posted by: Uncle Billy | January 29, 2008 at 11:41 PM
The "Westside of LA?" I think you mean "West LA." Climber.
Posted by: Aaron | January 30, 2008 at 06:46 AM
The Garage is an absolute must have. Mine is full of Motorcycles and tools. But, it seems the more space you have the more stuff you seem to store, funny how that works. : )
Posted by: Rob | January 30, 2008 at 08:46 AM
Congratulations -
Besides, the ocean is all polluted and sharks live in it. Who needs that kind of stress.
Posted by: Tombstone Realty | January 30, 2008 at 09:15 AM
It comes down to what is best for your family. Do the kids care whether you rent or own the place they live in? Not likely. I'll bet your kids were excited to move to a new home.
A safe neighborhood with proximity to good schools and parks where you can ride those bikes more important than "ownership" of a home at this time in your kid's lives. Just an opinion.
Congrats on your new situation.
Posted by: TakeFive | January 30, 2008 at 09:29 AM
I hope this works out for you; we're also going to be renting a house in this next move. It feels a little transient but maybe we'll all hit the timing right to buy again. Good luck!
Posted by: KosherKrab | January 30, 2008 at 10:12 AM
I think this post is very apropos the current LA housing market.
I've written on my own blog about how it’s as about as expensive to rent a decent house in nice parts of LA now as it was to rent a average apartment in so-so neighborhoods 12 months ago. This is doubly true in large swaths of the Valley.
You may only glimpse the phenomena on Craigspiss - but in most neighborhoods in the parts of town I am familar with, there is a nice, spacious, empty house that used to have a for-sale sign in front of it (or more likely one or two *near* it) and a owner willing to take a fair rent for it.
Posted by: ProblemWithCaring | January 30, 2008 at 10:15 AM
congrats Peter. as long as you are happy where you live, who cares if you own or rent?
Posted by: Sam | January 30, 2008 at 11:21 AM
Congrats! I'm just curious: How hard was it to find a decent priced rental in a good location? How long did you have to search for the right place? I recently looked for a place on Westside rentals and rents were insanely high- even in Miracle Mile.
Posted by: Hula Girl | January 30, 2008 at 02:40 PM
Moving is always fun.
NOT!
Happy with the place, then hey no complaints. Hopefully the rent will be nice and stable and not start to skyrocket here in the next couple years.
Posted by: RadioManTodd | January 30, 2008 at 03:03 PM
Actually, the way things are going, I think owners are becoming bitter and we renters are getting smug watching prices fall.
Posted by: Tony | January 30, 2008 at 03:40 PM
mr. viles, be careful about moving eastward or you may end up in riverside or san bernardino yuck!!!!!!!!!!!!!! if you really like your new place ask for a lease option to buy! :)
Posted by: lefty | January 30, 2008 at 06:16 PM
You know---anyone can post as lefty!!!!
Do you think he's the same person every time!
Because no one, NO ONE single person could be that stupid.
Posted by: lefty | January 30, 2008 at 06:46 PM
Hula Girl - our experience with westside rentals was good, but not if you want a deal. People see what comparable houses are renting for, and use that to fix their prices. We only discovered the house we rented because our friends happened to see a sign in the window. Saved 700/mo and got a better house in a better neighborhood.
Peter - welcome to the westside. but i'm guessing that you will never be able to return to apartment life.
Posted by: Dr. JwB | January 30, 2008 at 07:55 PM
Peter,
I'm glad you found a new home that "feels right" for you and your family. I think you will enjoy a different view of life in an area outside of the "beach". The best thing someone can do who arrives in our little slice of a paradise is to rent for a bit to find out just where you want to wind up.
I've lived in Westwood, West LA , Culver City and Manhatttan Beach.. For me Manhattan Beach and our local Beach Cities wins as the best places to live. I grew up hanging out in Huntington Beach and Newport Beach... guess I just need to be close to the ocean.
Posted by: Kaye Thomas | January 30, 2008 at 09:33 PM
Peter we love you, but if you are waiting for affordability for a family home in the west side of hell hole forget it. Do yourself and your family a favor and live happliy ever after and move to Colorado now. RE is almost free and it may not last.
Posted by: Steve | January 31, 2008 at 06:42 AM
Hey Peter,
For purposes of full disclosure, how much do you guys pay for rent and how many square feet is the new house?
Cheers.
Posted by: Curious George | February 01, 2008 at 09:31 PM