Relocating from Michigan – advice?

[zRob]

Hi ~ I am relocating mid July to a biotech in the UTC area. Have a nice relo package BUT as this Board points out the market is crashing. Planning to rent for 6 months or so and then buy something close to UTC (Del Mar, La Jolla or ?) within a year (as the relo benefits end after 12 months). Found a 2/2 condo for rent across from the office for 1,800 a month – not sure if this is too high but it is close to the office. Any advice to a newbie from the midwest? Thank you! Rob

[bubble_contagion]

Rent is OK, average, for that area. As to buying something, Del Mar and La Jolla are the most expensive neighborhoods in San Diego so prepare to spend 1+ million for a small single family home. Half of that for a condo. Carmel Valley is another option just to the North but it has a suburban feel and no character as a neighborhood when you compare it to Del Mar or La Jolla or even UTC.

[bubble_contagion]

Rent is OK, average, for that area. As to buying something, Del Mar and La Jolla are the most expensive neighborhoods in San Diego so prepare to spend 1+ million for a small single family home. Half of that for a condo. Carmel Valley is another option just to the North but it has a suburban feel and no character as a neighborhood when you compare it to Del Mar or La Jolla or even UTC.

[sdrealtor]

UTC has character? It’s named after a mall….

[sdrealtor]

UTC has character? It’s named after a mall….

[Anonymous]

sandiegoslide

Hi zBob

Welcome. My girlfriend relocated here for Biogen Idec, and they have some deal for her to buy house/condo. Unfortuntely what she has found out is that prices pretty much are unaffordable even with the money B/I is making available. Additionally, she would have horrible comutes from the areas she has considered buying. So she continues to rent even though the time limit to use the money from her employer is running out.

If you’re single you’re better off close to work so you can hang with the single people instead of spending time driving to communties with mostly families with kids. You’d be close to beach communities; learn how to surf!

If you like older communities, check out South Park/North Park/Normal Heights. For 1800 bucks you can rent a not-to funky little house. The I 5 commute kind of sucks but it’s better than some other commute times from North County. Some parts of Pacific Beach are nice but lots of drunk frat boys and it’s real congested.

Don’t let any time limit on using your company’s money push you into a purchase you might regret. Take time to look around. Spend your weekends discovering what CA has to offer; National Prks etc. You might decide in a year you absolutely hate San Diego and end up in San Francisco like a lot of my friends in biotech. Good luck

[Anonymous]

sandiegoslide

Hi zBob

Welcome. My girlfriend relocated here for Biogen Idec, and they have some deal for her to buy house/condo. Unfortuntely what she has found out is that prices pretty much are unaffordable even with the money B/I is making available. Additionally, she would have horrible comutes from the areas she has considered buying. So she continues to rent even though the time limit to use the money from her employer is running out.

If you’re single you’re better off close to work so you can hang with the single people instead of spending time driving to communties with mostly families with kids. You’d be close to beach communities; learn how to surf!

If you like older communities, check out South Park/North Park/Normal Heights. For 1800 bucks you can rent a not-to funky little house. The I 5 commute kind of sucks but it’s better than some other commute times from North County. Some parts of Pacific Beach are nice but lots of drunk frat boys and it’s real congested.

Don’t let any time limit on using your company’s money push you into a purchase you might regret. Take time to look around. Spend your weekends discovering what CA has to offer; National Prks etc. You might decide in a year you absolutely hate San Diego and end up in San Francisco like a lot of my friends in biotech. Good luck

[SD Realtor]

zRob –

rent in UTC for awhile. It will be super close to work and get to learn about the different areas of San Diego. UTC is super generic will no character. It consists of a large shopping mall surrounded by subdivision after subdivision of inimiums. There is also a large amount of commercial building around the area. UCSD is a adjacent to the west. The best thing about UTC is that it is about as central as you can get in the county. So rent there for a spell… get to know the area, and then rent somewhere else after you find a good fit for the lifestyle you lead. If you can delay buying for a few years, I would recommend to wait instead of buying in 6 month.

San Diego is not a cheap place to live… however your first winter here will give you a chance to compare our climate to the Michigan climate. Finally if you want, just go to Craigslist San Diego and look for rentals in UTC or University City to compare against the price you have. I think you will be able to do a little bit better then 1800 but not alot better. What complex is the condo in? How many SF?

SD Realtor

[SD Realtor]

zRob –

rent in UTC for awhile. It will be super close to work and get to learn about the different areas of San Diego. UTC is super generic will no character. It consists of a large shopping mall surrounded by subdivision after subdivision of inimiums. There is also a large amount of commercial building around the area. UCSD is a adjacent to the west. The best thing about UTC is that it is about as central as you can get in the county. So rent there for a spell… get to know the area, and then rent somewhere else after you find a good fit for the lifestyle you lead. If you can delay buying for a few years, I would recommend to wait instead of buying in 6 month.

San Diego is not a cheap place to live… however your first winter here will give you a chance to compare our climate to the Michigan climate. Finally if you want, just go to Craigslist San Diego and look for rentals in UTC or University City to compare against the price you have. I think you will be able to do a little bit better then 1800 but not alot better. What complex is the condo in? How many SF?

SD Realtor

[zRob]

Thanks for the help. I am currently looking at a condo condoconversion – Lucera complex. The description is below.

• 2 master bedrooms and two full baths (1000 square feet)
• All new Stainless Steel Energy Efficient Appliances
• Granite Countertops, Cherry Wood Cabinets
• W/D in unit
• Garage Parking +1
• Top floor

Bigoen Idec (where I will be as well) is very close (at least that is what I’ve been told). Any concerns about this complex or the $1,800 for rent?

Thank you – Rob

[zRob]

Thanks for the help. I am currently looking at a condo condoconversion – Lucera complex. The description is below.

• 2 master bedrooms and two full baths (1000 square feet)
• All new Stainless Steel Energy Efficient Appliances
• Granite Countertops, Cherry Wood Cabinets
• W/D in unit
• Garage Parking +1
• Top floor

Bigoen Idec (where I will be as well) is very close (at least that is what I’ve been told). Any concerns about this complex or the $1,800 for rent?

Thank you – Rob

[SD Realtor]

zRob congrats at Biogen. I know a few people there. You will be pretty darn close to work if you choose to live there. Lucera is also a complex I know well. Some of the units actually look out into Rose Canyon which is nice. Lucera is a large conversion (from apartments) back in 2004 I believe. Nothing really noteworthy about the complex. Since the conversion is fairly recent all of the units have the granite countertops and stainless steel appliances.

Also being on the top floor is good as well.

Now just a note about Lucera… I know people who bought in Lucera at the conversion in 2004 and they are now underwater by about 15%. So in this particular complex pricing is 15% BELOW 2004 pricing. As for concerns about renting… I don’t really have to many. Lucera is not quite as jam packed as some of the other complexes in the area. It is middle of the road quality wise, there are some beater complexes and some nicer ones in the area. They will be making a trolley stop I think, right below Lucera as the trolley runs through Rose Canyon but that is still off in the future. You may want to try to negotiate with the landlord and tell him you found some other nice places to see if you can drive him down to 1600-1700 but he may not bend that much. Right now is a good time to negotiate cuz there is not quite as much demand there. Once August rolls around it will crowd up more as UCSD students come back for school.

Like I said, check Craigslist to see if you are in the ballpark comparitively.

SD Realtor

[SD Realtor]

zRob congrats at Biogen. I know a few people there. You will be pretty darn close to work if you choose to live there. Lucera is also a complex I know well. Some of the units actually look out into Rose Canyon which is nice. Lucera is a large conversion (from apartments) back in 2004 I believe. Nothing really noteworthy about the complex. Since the conversion is fairly recent all of the units have the granite countertops and stainless steel appliances.

Also being on the top floor is good as well.

Now just a note about Lucera… I know people who bought in Lucera at the conversion in 2004 and they are now underwater by about 15%. So in this particular complex pricing is 15% BELOW 2004 pricing. As for concerns about renting… I don’t really have to many. Lucera is not quite as jam packed as some of the other complexes in the area. It is middle of the road quality wise, there are some beater complexes and some nicer ones in the area. They will be making a trolley stop I think, right below Lucera as the trolley runs through Rose Canyon but that is still off in the future. You may want to try to negotiate with the landlord and tell him you found some other nice places to see if you can drive him down to 1600-1700 but he may not bend that much. Right now is a good time to negotiate cuz there is not quite as much demand there. Once August rolls around it will crowd up more as UCSD students come back for school.

Like I said, check Craigslist to see if you are in the ballpark comparitively.

SD Realtor

[sddreaming]

zRob, San Diego is a great place to live. After I graduated from college at U of M, I moved to San Diego and stayed for 15 years. I moved back to Ann Arbor in 1999 but am planning on returning to San Diego in 2008.

SD Realtor is giving you good advice. Rent near work so you don’t have the hassle of commuting. UTC is fine as your first rental in San Diego while you explore the area and decide where you want to buy. If you are convinced you want to buy within the 12 month reloc window, wait it out at least 6 months and try to save as much as you can so you can put down a hefty down payment. In the current real estate market there is no guarantee you won’t lose money on your real estate purchase, so be sure you want to stay in your purchased property for the long term.

Michigan doesn’t experience the severe cyclical nature of California real estate. I got caught up in it my first purchase in 1987. The escalating prices at that time were astounding, I was sure I’d be priced out if I didn’t buy right away. The down side was more painful and prolonged. That cycle was nothing compared to the current bubble. It’s anyone’s guess what is going to happen. But it seems pretty clear that now, and probably even 6 months from now, is not the best time to buy. Just do your research (going to piggington is a great start), weigh your reloc package against the possibility of losing equity in the short term, and don’t buy impulsively. You’ll do just fine.

Much of Michigan is becoming a ghost town. This summer so far has been a constant round of going away parties, mostly Pfizer families. Both of my kids lost their best friends.

Have fun in San Diego. It really is a great place to live. The first few years in San Diego, I missed the Michigan fall. It just didn’t feel right to not have seasons. What helped a lot was to head up to the mountains, like Julian or Idylwild.

Good luck and have a great time!

[sddreaming]

zRob, San Diego is a great place to live. After I graduated from college at U of M, I moved to San Diego and stayed for 15 years. I moved back to Ann Arbor in 1999 but am planning on returning to San Diego in 2008.

SD Realtor is giving you good advice. Rent near work so you don’t have the hassle of commuting. UTC is fine as your first rental in San Diego while you explore the area and decide where you want to buy. If you are convinced you want to buy within the 12 month reloc window, wait it out at least 6 months and try to save as much as you can so you can put down a hefty down payment. In the current real estate market there is no guarantee you won’t lose money on your real estate purchase, so be sure you want to stay in your purchased property for the long term.

Michigan doesn’t experience the severe cyclical nature of California real estate. I got caught up in it my first purchase in 1987. The escalating prices at that time were astounding, I was sure I’d be priced out if I didn’t buy right away. The down side was more painful and prolonged. That cycle was nothing compared to the current bubble. It’s anyone’s guess what is going to happen. But it seems pretty clear that now, and probably even 6 months from now, is not the best time to buy. Just do your research (going to piggington is a great start), weigh your reloc package against the possibility of losing equity in the short term, and don’t buy impulsively. You’ll do just fine.

Much of Michigan is becoming a ghost town. This summer so far has been a constant round of going away parties, mostly Pfizer families. Both of my kids lost their best friends.

Have fun in San Diego. It really is a great place to live. The first few years in San Diego, I missed the Michigan fall. It just didn’t feel right to not have seasons. What helped a lot was to head up to the mountains, like Julian or Idylwild.

Good luck and have a great time!

[Author]

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