I would agree that with only a 3 year time horizon, that my strong advice to you would be to rent verses buying. The downside risk is just to great for that small of a time horizon. I think that is by far the greatest factor to consider in the equation. If your time horizon was much farther out then perhaps the conversation goes in a different direction. If you would like to email me you can at [email protected]. Remember there is SD Realtor (me) and there is sdrealtor. We both post on this site.
Again though I would recommend renting if you plan on staying only 3 years.