Is now a good time to buy a condo in San Diego, California?
I BELIEVE YOU WOULD BE BETTER OFF WAITING UNTIL UNTIL THE END OF THIS YEAR. WATCH THE PRICES IN WHATEVER AREA YOU ARE IN, AS WELL AS THE INTEREST RATES. CERTAINLY DON'T JUMP INTO ANYTHING THIS SUMMER. CHECK WITH LOAN OFFICERS IN YOUR LOCAL BANKS AND MORTGAGE COMPANIES FOR BANK REPOS AND FORECLOSURES AS WELL ON CONDOS IN YOUR AREA.
by Susan P - 4 hours ago
I don't think that now is a good time to buy in So Cal. I recently read a business week article that said only 2 out of 50 people in that region can afford to purchase. Which would indicate that there is a bubble in that market. I would wait a year or two because bubbles tend to deflate slowly. It sounds like you don't pay that much in rent, I would stay put for a while until the market settles in the lower ranges. If you were to buy now, you could stand to loose a lot of equity. However, if you plan to stay in this place for a long time, then you should buy now because of the tax advantages. If you plan to flip this condo, you could loose your shirt.
by currious about calculations - 4 hours ago
Buy now! You may want to consider new development....
by Ms Real Estate - 4 hours ago
I dont think its a good time to buy, my sister bought a condo 3 years ago (brand new, in La Jolla) for $400K, they just sold an identical unit for $330K. Although, if you find the right place, it doesn't matter where you are buying, just dont look to be cash positive.
by Rabbit - 4 hours ago
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