That's Bs. If you base your decision on trying to buy based on VALUE you will be renting your entire life like many of these others on this board. How many good companies trade for book value, or similar metric? They trade at premiums or other valuation to their intrinsic value for various reasons, the same reason homes in san Diego sell for more than those in Dallas or huntsville, or other locale you all claim to be a better value.
125, the only way you will me able to build equity and leverage up into larger homes is to start somewhere. Heck, if prices drop a bit and you are living in a place you like, who cares?
Or you can just rent like all these others and spend your time on this board trying to convince others not to make a good decision.
I would sort or agree with some things RO is saying here. I personally think in some neighborhoods, there will be an intrinsic premium for owning versus renting. That said, if you want to find bargains, it's not happening in CV,RP (yet). There are some homes in the off of Camino Del Sur (part of RP) that are relatively new, about 2000 sqft in the mid $650k. (Next to the new Intuit campus). I've always a been a proponent that you own your primary when you can afford it without going out on an arm and a leg. But I never view primary homes as investments. I would though recommend you spending your time to be picky and choosy.
