Not me. I’m making offers remotely in SD on anything that looks like the numbers are good. However, I’m also looking at properties and have an offer on a multi in on the East Coast (NJ).
The way I figure it, even if I end up buying in NJ, if I want to move to CA (or Europe, since it’s in the running for grad studies), I can always find acceptable tenants and dump the thing with a management co. That income + the income from renting my place in NY would easily cover rent anywhere in the US and most places abroad and then some. Plus the properties that I’m interested in on the East Coast are either SFR’s or multis. Meaning that there’s no chance of the HOA going bankrupt or doing something boneheaded that would prevent me from refi’ing. And no HOA-fee/special-assessment risk either.
Things in NJ are looking very similar to the way SD looked in 2009 — the tables are turned. There was a lot more foreclosure inventory in SD in 2011, but almost nil in NJ due to a court decision stalling foreclosures for a year and a half or so. Now the pipeline appears to have unclogged out here while re-clogging in CA. Probably largely due to the Homerenter’s Bill of Wrongs being passed, and banks being unsure what to do with the thing.
