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  • August 26, 2009 at 6:41 AM #16248
    weberlin
    Participant

    I would like to hear your opinion: should I have waited?

    I closed escrow on my condo at the end of April: 330K for a 1400 sq ft 3/2 with attached garage in Friar’s Village, Zip code is 92111 – but more on the Mission Valley side.

    August 26, 2009 at 8:31 AM #449057
    UCGal
    Participant

    Mission Valley is a good location – easy access to everything, centrally located. So that’s a big plus. A garage is also a big plus. The size is decent and a 3/2 gives you lots of options – depending on your circumstances (roommates, home office, etc.)

    I would need to know more about your circumstances.

    Are you planning on staying in the condo for the long haul (7+ years)? Transaction costs are significant and to me it doesn’t make sense to buy in a flat or falling market unless you are looking for shelter for the long term. If this is a stop-over for 2-3 years, personally I think buying for a short term doesn’t make much sense since you need to have a price increase to make up transaction costs. Renting makes more sense.

    What are the HOA fees? If they’re high, that makes it less attractive.

    Do you have kids? What school district is it?

    All of those are things I’d need to consider about whether it was something *I* would consider a sound move.

    August 26, 2009 at 8:31 AM #449248
    UCGal
    Participant

    Mission Valley is a good location – easy access to everything, centrally located. So that’s a big plus. A garage is also a big plus. The size is decent and a 3/2 gives you lots of options – depending on your circumstances (roommates, home office, etc.)

    I would need to know more about your circumstances.

    Are you planning on staying in the condo for the long haul (7+ years)? Transaction costs are significant and to me it doesn’t make sense to buy in a flat or falling market unless you are looking for shelter for the long term. If this is a stop-over for 2-3 years, personally I think buying for a short term doesn’t make much sense since you need to have a price increase to make up transaction costs. Renting makes more sense.

    What are the HOA fees? If they’re high, that makes it less attractive.

    Do you have kids? What school district is it?

    All of those are things I’d need to consider about whether it was something *I* would consider a sound move.

    August 26, 2009 at 8:31 AM #449588
    UCGal
    Participant

    Mission Valley is a good location – easy access to everything, centrally located. So that’s a big plus. A garage is also a big plus. The size is decent and a 3/2 gives you lots of options – depending on your circumstances (roommates, home office, etc.)

    I would need to know more about your circumstances.

    Are you planning on staying in the condo for the long haul (7+ years)? Transaction costs are significant and to me it doesn’t make sense to buy in a flat or falling market unless you are looking for shelter for the long term. If this is a stop-over for 2-3 years, personally I think buying for a short term doesn’t make much sense since you need to have a price increase to make up transaction costs. Renting makes more sense.

    What are the HOA fees? If they’re high, that makes it less attractive.

    Do you have kids? What school district is it?

    All of those are things I’d need to consider about whether it was something *I* would consider a sound move.

    August 26, 2009 at 8:31 AM #449661
    UCGal
    Participant

    Mission Valley is a good location – easy access to everything, centrally located. So that’s a big plus. A garage is also a big plus. The size is decent and a 3/2 gives you lots of options – depending on your circumstances (roommates, home office, etc.)

    I would need to know more about your circumstances.

    Are you planning on staying in the condo for the long haul (7+ years)? Transaction costs are significant and to me it doesn’t make sense to buy in a flat or falling market unless you are looking for shelter for the long term. If this is a stop-over for 2-3 years, personally I think buying for a short term doesn’t make much sense since you need to have a price increase to make up transaction costs. Renting makes more sense.

    What are the HOA fees? If they’re high, that makes it less attractive.

    Do you have kids? What school district is it?

    All of those are things I’d need to consider about whether it was something *I* would consider a sound move.

    August 26, 2009 at 8:31 AM #449845
    UCGal
    Participant

    Mission Valley is a good location – easy access to everything, centrally located. So that’s a big plus. A garage is also a big plus. The size is decent and a 3/2 gives you lots of options – depending on your circumstances (roommates, home office, etc.)

    I would need to know more about your circumstances.

    Are you planning on staying in the condo for the long haul (7+ years)? Transaction costs are significant and to me it doesn’t make sense to buy in a flat or falling market unless you are looking for shelter for the long term. If this is a stop-over for 2-3 years, personally I think buying for a short term doesn’t make much sense since you need to have a price increase to make up transaction costs. Renting makes more sense.

    What are the HOA fees? If they’re high, that makes it less attractive.

    Do you have kids? What school district is it?

    All of those are things I’d need to consider about whether it was something *I* would consider a sound move.

    August 26, 2009 at 10:31 AM #449107
    weberlin
    Participant

    HOA = $330/month (includes structural insurance, water, sewage, and trash)

    This property is not a stop-over. I may sell in 5 years or so. If I move out of SD, I will most likely keep it as a rental.

    August 26, 2009 at 10:31 AM #449298
    weberlin
    Participant

    HOA = $330/month (includes structural insurance, water, sewage, and trash)

    This property is not a stop-over. I may sell in 5 years or so. If I move out of SD, I will most likely keep it as a rental.

    August 26, 2009 at 10:31 AM #449638
    weberlin
    Participant

    HOA = $330/month (includes structural insurance, water, sewage, and trash)

    This property is not a stop-over. I may sell in 5 years or so. If I move out of SD, I will most likely keep it as a rental.

    August 26, 2009 at 10:31 AM #449710
    weberlin
    Participant

    HOA = $330/month (includes structural insurance, water, sewage, and trash)

    This property is not a stop-over. I may sell in 5 years or so. If I move out of SD, I will most likely keep it as a rental.

    August 26, 2009 at 10:31 AM #449895
    weberlin
    Participant

    HOA = $330/month (includes structural insurance, water, sewage, and trash)

    This property is not a stop-over. I may sell in 5 years or so. If I move out of SD, I will most likely keep it as a rental.

    August 26, 2009 at 10:59 AM #449147
    DataAgent
    Participant

    At $235 a sq ft, you did real good. Nice central location. Should be real easy to rent if you ever need to.

    August 26, 2009 at 10:59 AM #449338
    DataAgent
    Participant

    At $235 a sq ft, you did real good. Nice central location. Should be real easy to rent if you ever need to.

    August 26, 2009 at 10:59 AM #449678
    DataAgent
    Participant

    At $235 a sq ft, you did real good. Nice central location. Should be real easy to rent if you ever need to.

    August 26, 2009 at 10:59 AM #449750
    DataAgent
    Participant

    At $235 a sq ft, you did real good. Nice central location. Should be real easy to rent if you ever need to.

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