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  • March 17, 2009 at 6:52 AM #15312
    SDguy
    Participant

    I rent a one bedroom for $785.00 in an okay neighborhood, or street to be more precise. The rest of the neighborhood is crime ridden (North Park / University Heights).

    I found a 2 story, 2 bed, 1.5 bath condo in Chula Vista in good condition for $95,000. Not a conversion. I have 20% for the down payment. The monthly payment including HOA fee would be around $650.00. Crime has been much lower in this neighborhood. My only concern is the drive to work, but even that’s okay. I just have to wake up 20 minutes earlier than I already do.

    I’ll get $8,000.00 back from the government if I buy this year.

    In 2006, the place sold for nearly $300,000. I plan to be there for a couple years and hopefully sell at a higher price to get a detached home.

    Sounds good to me, but just thought I’d get some opinions. Thanks.

    March 17, 2009 at 7:14 AM #367561
    DataAgent
    Participant

    Can you send us a link to the MLS listing of the property you are buying?

    March 17, 2009 at 7:14 AM #367848
    DataAgent
    Participant

    Can you send us a link to the MLS listing of the property you are buying?

    March 17, 2009 at 7:14 AM #368018
    DataAgent
    Participant

    Can you send us a link to the MLS listing of the property you are buying?

    March 17, 2009 at 7:14 AM #368053
    DataAgent
    Participant

    Can you send us a link to the MLS listing of the property you are buying?

    March 17, 2009 at 7:14 AM #368170
    DataAgent
    Participant

    Can you send us a link to the MLS listing of the property you are buying?

    March 17, 2009 at 11:18 AM #367768
    svelte
    Participant

    We used to own a condo in Chula Vista that was 3 BR 2 BA.

    Just for grins, I checked MLS last week to see what was on the market there right now. Of about 150 units in the complex (50% are 2 BR 2 BA, 50% 3 BR 2 BA), 8 are for sale and they are ALL 2 BR 2 BA.

    I could be wrong, but on the surface there appears to be a glut of 2 BR condos on the market in CV, while the 3 BRs appear to be selling (or not being put on the market). Also, it appears that prices are approximately 50% higher than when we sold 20 years ago.

    I know I didn’t give you an answer, but I wanted you to have a few more data points in your decision…hard to go wrong for $87K net cost, though. You might check to see what the percentage of rentals are in the complex (large number of rentals can make it hard to purchase in the complex, which will affect resale value).

    Good Luck

    March 17, 2009 at 11:18 AM #368380
    svelte
    Participant

    We used to own a condo in Chula Vista that was 3 BR 2 BA.

    Just for grins, I checked MLS last week to see what was on the market there right now. Of about 150 units in the complex (50% are 2 BR 2 BA, 50% 3 BR 2 BA), 8 are for sale and they are ALL 2 BR 2 BA.

    I could be wrong, but on the surface there appears to be a glut of 2 BR condos on the market in CV, while the 3 BRs appear to be selling (or not being put on the market). Also, it appears that prices are approximately 50% higher than when we sold 20 years ago.

    I know I didn’t give you an answer, but I wanted you to have a few more data points in your decision…hard to go wrong for $87K net cost, though. You might check to see what the percentage of rentals are in the complex (large number of rentals can make it hard to purchase in the complex, which will affect resale value).

    Good Luck

    March 17, 2009 at 11:18 AM #368265
    svelte
    Participant

    We used to own a condo in Chula Vista that was 3 BR 2 BA.

    Just for grins, I checked MLS last week to see what was on the market there right now. Of about 150 units in the complex (50% are 2 BR 2 BA, 50% 3 BR 2 BA), 8 are for sale and they are ALL 2 BR 2 BA.

    I could be wrong, but on the surface there appears to be a glut of 2 BR condos on the market in CV, while the 3 BRs appear to be selling (or not being put on the market). Also, it appears that prices are approximately 50% higher than when we sold 20 years ago.

    I know I didn’t give you an answer, but I wanted you to have a few more data points in your decision…hard to go wrong for $87K net cost, though. You might check to see what the percentage of rentals are in the complex (large number of rentals can make it hard to purchase in the complex, which will affect resale value).

    Good Luck

    March 17, 2009 at 11:18 AM #368059
    svelte
    Participant

    We used to own a condo in Chula Vista that was 3 BR 2 BA.

    Just for grins, I checked MLS last week to see what was on the market there right now. Of about 150 units in the complex (50% are 2 BR 2 BA, 50% 3 BR 2 BA), 8 are for sale and they are ALL 2 BR 2 BA.

    I could be wrong, but on the surface there appears to be a glut of 2 BR condos on the market in CV, while the 3 BRs appear to be selling (or not being put on the market). Also, it appears that prices are approximately 50% higher than when we sold 20 years ago.

    I know I didn’t give you an answer, but I wanted you to have a few more data points in your decision…hard to go wrong for $87K net cost, though. You might check to see what the percentage of rentals are in the complex (large number of rentals can make it hard to purchase in the complex, which will affect resale value).

    Good Luck

    March 17, 2009 at 11:18 AM #368230
    svelte
    Participant

    We used to own a condo in Chula Vista that was 3 BR 2 BA.

    Just for grins, I checked MLS last week to see what was on the market there right now. Of about 150 units in the complex (50% are 2 BR 2 BA, 50% 3 BR 2 BA), 8 are for sale and they are ALL 2 BR 2 BA.

    I could be wrong, but on the surface there appears to be a glut of 2 BR condos on the market in CV, while the 3 BRs appear to be selling (or not being put on the market). Also, it appears that prices are approximately 50% higher than when we sold 20 years ago.

    I know I didn’t give you an answer, but I wanted you to have a few more data points in your decision…hard to go wrong for $87K net cost, though. You might check to see what the percentage of rentals are in the complex (large number of rentals can make it hard to purchase in the complex, which will affect resale value).

    Good Luck

    March 17, 2009 at 11:35 AM #368295
    lindismith
    Participant

    Long time, no post. Greetings all.

    I would say buy it if you think you will like living in it, AND you don’t expect to sell it anytime in the next 5 years, and if you can rent it out in the future for exactly what your mortgage is, or more.

    March 17, 2009 at 11:35 AM #368409
    lindismith
    Participant

    Long time, no post. Greetings all.

    I would say buy it if you think you will like living in it, AND you don’t expect to sell it anytime in the next 5 years, and if you can rent it out in the future for exactly what your mortgage is, or more.

    March 17, 2009 at 11:35 AM #368257
    lindismith
    Participant

    Long time, no post. Greetings all.

    I would say buy it if you think you will like living in it, AND you don’t expect to sell it anytime in the next 5 years, and if you can rent it out in the future for exactly what your mortgage is, or more.

    March 17, 2009 at 11:35 AM #367796
    lindismith
    Participant

    Long time, no post. Greetings all.

    I would say buy it if you think you will like living in it, AND you don’t expect to sell it anytime in the next 5 years, and if you can rent it out in the future for exactly what your mortgage is, or more.

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