San Diego Housing Market News and Analysis
Condos in 92101 or 92103 - Input Needed
User Forum Topic
Submitted by CLMR on May 28, 2012 - 11:23am
Have been renting in Hillcrest for almost two years now, and finally ready to take the plunge and buy. Love this area, and wouldn't want to part with walkability to Balboa Park or the proximity to all that Hillcrest and downtown have to offer. Looking for a 2/2, my husband and I are young professionals, no intention to have kids so not looking to move anytime soon. Our buying range is about $400k tops. An SFR is preferable, but there seems to be a lot of competition on them, and for the range I'm aware we'll probably not be able to buy a SFR in these two zip codes. Any input in regards to whether condo prices have bottomed out yet in these two areas, and whether it makes much sense finacially to go from rent to mortgage+HOA for the next 10 years or so (10yrs is our plan for paying off the mortgage)?
Also, in today's market, how much negotiating power does the buyer have if online estimates of a listing (zillow estimate, chase house value calculator) are 30-50k below asking price?
Thank you all in advance!!
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