The Hunt
From a Floating Home in Portland to a Hilly Perch in Los Angeles. Which House Was Right?
After 20 years on the Columbia River in Oregon, a retired couple tested the drier environs of Southern California to be closer to their children. Here’s what they found.
Dawn and Gary Banker loved living in their floating home in Portland, Ore. Surrounded by two dozen houses on a residential pier in the Columbia River, they would step onto their deck and take in the views of Hayden Island as the water lapped at their porch.
But each winter, the couple, who are retired scientists, wilted under the city’s ever-gray skies. And they missed their two adult children, who lived nearly 1,000 miles away, in Los Angeles. Around a decade ago, the Bankers began spending more time there to be with family and escape the cold.
“As time went by, that month kind of became six weeks, became two months,” said Mr. Banker, 77. Finally, last year, they rented a one-bedroom apartment in the east side neighborhood of Echo Park. But “it never really occurred to us that we might move.”
Out of curiosity, the Bankers began casually visiting open houses in the area. At first, they considered buying a second home, but quickly realized they couldn’t afford it.
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“It was a little bit terrifying, especially seeing things close in a few days for $100,000 or $200,000 more” than the asking price, said Ms. Banker, 70. But earlier this year, when a friend expressed interest in the floating house, the Bankers took it as a sign and decided to sell.
After the parties reached an agreement for the house and the slip on the river, settling at $737,000, the Los Angeles hunt kicked into high gear. To be close to their children, as well as to shopping and restaurants, their goal was to stay on the city’s east side.
“When you think of Los Angeles, most people think, ‘Oh, highways and traffic,’ but it has these darling neighborhoods,” Ms. Banker said. The couple, both bird-watchers, were also drawn to the area for its parks.
They wanted an open, light-filled space with a good kitchen (they love to cook), some outdoor space with room for a garden, and a guest room for out-of-state friends. Extra space for their hobbies — bookbinding and ceramics — would be a bonus. Combining the proceeds from the house sale, their savings and a loan, the Bankers amassed a budget of around $1.7 million.
A friend from Portland put them in touch with his sister, Maura Barraza, an agent with Pinnacle Estate Properties. When she met the Bankers, Ms. Barraza thought, “Oh, no, they’re in for a huge shock.”
Properties were moving fast, and there was low inventory, she said: “The market was very strong.”
Among their options:
No. 1
Decks and Garden in Silver Lake
Built in 1922, this sunny three-bedroom, two-bathroom Craftsman house in Silver Lake was about 2,100 square feet, with a front porch, large windows and an updated kitchen. An exterior stairway led from the open living area to a gorgeous landscaped rear deck and grassy backyard with fruit trees. The house was a few minutes’ walk from cafes and restaurants. There was no garage. The asking price was $1.695 million.
No. 2
Midcentury Near Elysian Park
This two-bedroom, two-bathroom home near Elysian Park, built in 1956, was about 1,300 square feet, with high ceilings, glass walls and hillside views that gave it the feeling of a tree house. It had a fireplace and a kitchen that opened onto a large deck shaded by a tree, as well as a lower terrace that could be used for gardening. There was no garage. The 600-acre park was right across the street. The asking price was $1.65 million.
No. 3
City Views in Echo Park
Built in 2015, this three-bedroom, two-and-a-half-bathroom house in Echo Park was just over 1,900 square feet, in an 18-home planned community. It had two stories, with an open living plan, floor-to-ceiling windows and a large kitchen island with a built-in range. The picture windows offered views of downtown. There was a two-car garage, but only a small front patio. The asking price was $1.475 million, with a monthly homeowner association fee of $130.
Find out what happened next by answering these two questions:
Which Would You Choose?
Decks and Garden in Silver Lake
Midcentury Near Elysian Park
City Views in Echo Park
Which Did They Buy?
Decks and Garden in Silver Lake
Midcentury Near Elysian Park
City Views in Echo Park