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Home Buying - Essay Example

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The open house/condo chosen in this paper is the 19551 which is located in the Rinaldi Street in Northridge, California. It possesses a momentous inheritance being built in the 1976 but comprise almost every benefit of a modern house. …
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Home Buying
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Download file to see previous pages It possesses a momentous inheritance being built in the 1976 but comprise almost every benefit of a modern house. It has been built on a lot of acres as a 1,520 square foot condo with 3 bedrooms and 3 full baths (Weichert, “Condo for Sale in Northridge, CA”). A) The Area 1) Online Statistics a) Crime: According to the recent crime statistics presented by the Los Angeles Police Department the frequency of crimes have reduced significantly. However, in the current situation the property crimes such as, theft have increased to a certain extent (Lapdonline, “West Los Angeles Area Profile”; Los Angeles Times, “Northridge”). b) Sexual Offenders: There were ten sexual offences recorded in recent days in various parts of Northridge which can also be recognized as the neighborhood area of Rinaldi Street (Office of the Attorney General, “In Violation”). c) Density: According to the Census 2000, the neighborhood area of the selected house/condo is populated with a total number of 28,049 people (U.S. Census Bureau, “Fact Sheet”). Thus, the area is not densely populated....
According to the regulations prescribed the area is prohibited to be used for commercial purpose. The residents are also not allowed to have equine(s) in a lot area which is less than 20,000 square feet. Moreover, increasing the building over two storeys is also prohibited. However, the selected condo includes itself in the RD2 zone (American Legal Publishing Corporation, “Municipal Code, Chapter I (Planning And Zoning Code)”.). b) Walkability Ratings: On an average the area ranks 65 out of 100 in terms of Walkability. This depicts that the area is to certain extent walkable (Walk Score, “19551 Rinaldi Street Northridge CA 91326”). c) Rapid Transportation: The residents in the selected area enjoy rapid transport facilities with the transportation options available in terms of owned cars, rail roads, buses, taxis and others. The residents in the lot area also gain the benefit of various recreation centers in the walkable area (City Data, “91326 Zip Code Detailed Profile”). B) The House/Condo 1) Selling Price of Neighborhood Houses The houses/condos located in the lot area, i.e. Northridge, 91326 and possessing almost similar characteristics to that of 19551 has been recorded to have an average selling price of $300,000 (Home Insight, “Historical Sales Results”). The chart represented below shall unambiguously depict the sale prices of the neighborhood condos possessing similar features. Map Address Sale Price Close Date Bed Bath Sq. Ft.   Yr. Built 1 19547 Rinaldi St $360,000 04/07/2010 3 3 1520 1976 2 19561 Rinaldi St $320,000  03/02/2010 3 2 1404 1976 3 19569 Rinaldi St $445,770  02/04/2010 4 3 1637 1976 4 19527 ...Download file to see next pages Read More
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