We had some friends who moved out here at the same time or actually 6 months after we did. He settled in RB because his company is in that area around Scripps/Poway. MLS #: 076014643
Anyway, he has been renting for about $2400/month in Westwood for a good sized house with yard. He tired of “wasting” money on rent, and said his figures only showed a 2% decrease in property values in that area since he moved in, so he bid on a place and it was accepted. I don’t know the price, but he did manage to get the owner down 30K from asking.
In his case, I suppose paying $2400 rent in Westwood, he has a much easier time switching to buying. I pay $1800 in Cardiff and to switch from Renter to Buyer means a really significant jump in monthly payment. His jump after taking into account tax savings is not nearly so much.
I know Westwood pretty well. It is fairly desireable… for RB that is… still I would recommend to any clients to buy there right now. I think he is going to be wishing he held out for another year or two at least. Still though, if he plans to stay for several years and he is happy with the schools and such he will be okay.
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