North Park

[saiine]

All,

I currently rent a 1/1 house in North Park for 950.00. I’ve started to see some pretty decent condos in the North Park / Hillcrest area listing between 130 – 160 which would put my mortgage payment + hoa fee’s just about even with my current rent.

I absolutely love this area and only believe it will grow stronger. Ideally, I would love to own a nice 3/2 craftsman in South Park, but that area doesn’t seem to dive at all.

I have to start somewhere! Additionally I am in a high tax bracket, I make just over 100 and could really use the tax break.

So fellow pigs, Why shouldn’t I buy a condo in North Park right now?

[bake]

Saiine, even though I’m in the mortgage business and I was kind of shooting myself in the foot, I’ve been telling everybody to sell since ’03. Now I’m telling them to buy if:

1. They plan on staying in San Diego.

2. The rent to price #’s make sense as they do in your situation.

3. They find a home they really like.

I say BUY!

[bake]

Saiine, even though I’m in the mortgage business and I was kind of shooting myself in the foot, I’ve been telling everybody to sell since ’03. Now I’m telling them to buy if:

1. They plan on staying in San Diego.

2. The rent to price #’s make sense as they do in your situation.

3. They find a home they really like.

I say BUY!

[bake]

Saiine, even though I’m in the mortgage business and I was kind of shooting myself in the foot, I’ve been telling everybody to sell since ’03. Now I’m telling them to buy if:

1. They plan on staying in San Diego.

2. The rent to price #’s make sense as they do in your situation.

3. They find a home they really like.

I say BUY!

[bake]

Saiine, even though I’m in the mortgage business and I was kind of shooting myself in the foot, I’ve been telling everybody to sell since ’03. Now I’m telling them to buy if:

1. They plan on staying in San Diego.

2. The rent to price #’s make sense as they do in your situation.

3. They find a home they really like.

I say BUY!

[bake]

Saiine, even though I’m in the mortgage business and I was kind of shooting myself in the foot, I’ve been telling everybody to sell since ’03. Now I’m telling them to buy if:

1. They plan on staying in San Diego.

2. The rent to price #’s make sense as they do in your situation.

3. They find a home they really like.

I say BUY!

[barnaby33]

saiine, Id wait. I live in NP too. I’m seeing some stuff come on the market that gets close to rental parity, but it seems like its all junk. Renting a 1/1 is not the same as owning.

You and I are in the same boat and someone who makes that kind of money shouldn’t need to start out ownership in a junker in NP. Thats how you can tell stuff is overpriced. Plus there is a huge difference to renting vs owning. Personally I would never consider buying anything less than a 2/2 over 1000 square feet.

Overall its just not a good time to buy. Interest rates need to rise, and prices correspondingly fall, wherever you decide to live.

Josh

[barnaby33]

saiine, Id wait. I live in NP too. I’m seeing some stuff come on the market that gets close to rental parity, but it seems like its all junk. Renting a 1/1 is not the same as owning.

You and I are in the same boat and someone who makes that kind of money shouldn’t need to start out ownership in a junker in NP. Thats how you can tell stuff is overpriced. Plus there is a huge difference to renting vs owning. Personally I would never consider buying anything less than a 2/2 over 1000 square feet.

Overall its just not a good time to buy. Interest rates need to rise, and prices correspondingly fall, wherever you decide to live.

Josh

[barnaby33]

saiine, Id wait. I live in NP too. I’m seeing some stuff come on the market that gets close to rental parity, but it seems like its all junk. Renting a 1/1 is not the same as owning.

You and I are in the same boat and someone who makes that kind of money shouldn’t need to start out ownership in a junker in NP. Thats how you can tell stuff is overpriced. Plus there is a huge difference to renting vs owning. Personally I would never consider buying anything less than a 2/2 over 1000 square feet.

Overall its just not a good time to buy. Interest rates need to rise, and prices correspondingly fall, wherever you decide to live.

Josh

[barnaby33]

saiine, Id wait. I live in NP too. I’m seeing some stuff come on the market that gets close to rental parity, but it seems like its all junk. Renting a 1/1 is not the same as owning.

You and I are in the same boat and someone who makes that kind of money shouldn’t need to start out ownership in a junker in NP. Thats how you can tell stuff is overpriced. Plus there is a huge difference to renting vs owning. Personally I would never consider buying anything less than a 2/2 over 1000 square feet.

Overall its just not a good time to buy. Interest rates need to rise, and prices correspondingly fall, wherever you decide to live.

Josh

[barnaby33]

saiine, Id wait. I live in NP too. I’m seeing some stuff come on the market that gets close to rental parity, but it seems like its all junk. Renting a 1/1 is not the same as owning.

You and I are in the same boat and someone who makes that kind of money shouldn’t need to start out ownership in a junker in NP. Thats how you can tell stuff is overpriced. Plus there is a huge difference to renting vs owning. Personally I would never consider buying anything less than a 2/2 over 1000 square feet.

Overall its just not a good time to buy. Interest rates need to rise, and prices correspondingly fall, wherever you decide to live.

Josh

[donaldduckmoore]

I used to live in North Park back in 2000 for a couple of years. It was $750 for a 2Br.

[donaldduckmoore]

I used to live in North Park back in 2000 for a couple of years. It was $750 for a 2Br.

[donaldduckmoore]

I used to live in North Park back in 2000 for a couple of years. It was $750 for a 2Br.

[donaldduckmoore]

I used to live in North Park back in 2000 for a couple of years. It was $750 for a 2Br.

[Author]

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