[quote=SD Realtor] . . . Conditions are not favorable throughout the county compared to the past few years. Not for investment grade, not for owner occupancy grade. . . .
Right now it is legging up fast and not a good place for buyers.[/quote]
I disagree that the long-term owner occupier buyer can’t find a decent house in the $320-$400K range. Some of them may need a little work, but they’re out there.
Yes, this is also the “flipper” price range, but if the asking and bid prices are too close to what the property would sell for flipped, the flipper won’t want it.
[quote-earlyretirement]I think it’s different if you are buying something that plan to live in for the foreseeable future that you can comfortably afford and another to be jumping in on investment properties…[/quote]
It’s different for the long-term owner-occupier buyer because they don’t have to fix everything at once to get it back out on the market ASAP. They can move in (or partially move in) and fix as time/money permits.
I’m seeing rental PODS parked on some properties in this price range which recently closed escrow. In any case, there are “pre-fab” tool/garden sheds existing in many backyards of listed properties which can be cleaned out and used for storage, along with the garage. These sheds don’t even cost as much to buy at HD/Lowes as renting a POD costs, even if you build a (leak-proof) wood foundation before putting them up. Your “extra” household goods could be stored at low cost in them indefinitely until you are ready to move them in.
There are more than nine ways to skin a cat. I would urge prospective owner-occupiers who don’t currently own a home to get out there on the street and make offers until they are successful if they want a home of their own in the coming years.
I bought several of the calibur of properties (which are listed at $320K to $400K today) in a 9-12% mortgage interest-rate environment and ended up coming out just fine after selling 🙂
It isn’t going to get any easier to buy a roof over your head in SD County.
