Buying in Rancho Penasquitos

User Forum Topic
Submitted by fullofquestions on May 15, 2008 - 4:15pm

Hi Everyone,
We are looking at homes in the Rancho Penasquitos area that get to attend the new Westview High school. So far, we've looked at homes in the mid-high 400s, which is our price range and we've liked a few of the homes. . . but the worrier in me is of course freaked out that it's still not the right time. We are looking for a home that we will stay in for at least 5-10 years if not longer and some say that we shouldn't be too worried about the price as long as we're getting a good deal, but I'm not sure what a good deal would be! Any advice would be appreciated, this is a first time for me.
Thank you!

‹ Ok, help me out guys Checking HOA's Finances ›
I think that PQ still has
Submitted by SD Realtor on May 15, 2008 - 9:57pm.

I think that PQ still has potential downward movement with a large dependency on the type of home you are buying. Are you looking at single family detached or are you looking at some of the twin homes? All you can do to measure the quality of your deal is compare the deal you are getting to previous sales. Your deal may be good compared to 2006 pricing but not compared to 2003 pricing. Additionally what may be a good deal now may not look like a good deal 2 years from now. Yours is a starter situation where it sounds like you are trying to hit the school district. Is there any chance you can rent in the area so you can still get in the school district, yet continue to save money for the downpayment?

SD Realtor

Hi SD Realtor, Thanks for
Submitted by fullofquestions on May 16, 2008 - 8:32am.

Hi SD Realtor,
Thanks for the response. We're looking at single family detached homes and are moving to the area mainly because of the schools and we like the area in general compared to Poway and find it more affordable and convenient than Rancho Bernardo. I agree that we are probably getting a good deal compared to 2006, but it's probably not anywhere near 2003 pricing. It's really hard because I don't want to pass up a good deal if I see one, but then again, it's such a huge investment that I don't want to mess it up. We currently have an offer out on SFR in Paseo Montril under 500k and I'm just worried if it's the right decision for my family. We have an awesome lease right now in scripps that's way below market and I would hate to move my family of 5 into a 2 bedroom apartment for the same price.

Gotcha - Well if you have
Submitted by SD Realtor on May 16, 2008 - 9:03am.

Gotcha -

Well if you have an awesome lease I would sit tight but the movement will be choppy and slow and will irritate you and test your patience. However in 2010 looking back to 08 the odds are high that you will realize some savings by waiting. Whether it fits your lifestyle is another question especially if you are wanting to get the kids into Westview instead of SRHS.

SD Realtor