[recordsclerk]

Although I too belive the housing market is going to crash, I can’t gaurantee it and would not gamble on it. Since you live in your home you should not treat it as an investment. You said the current home you live in was purchased in 2000 and if you haven’t taken out an equity loan against it, your payment and tax should be very favorable. Like you said you may not be able to rent the same place for less then you are paying now. Selling your house and putting the procedes into a CD is not a bad idea. The interest on the CD would help you with some of the rent. Other things you should consider:
1. the hassell of moving (twice)
2. the school district
3. the commute
4. relocating your family and the affect it will have on them.
5. the cost of selling and buying a home.
There are some places in San Diego, but not near Balboa Park that are affordable. There is a new development in Fallbrook right next to the freeway with larger homes for around $500,000.
I am a home owner that purchased in 2001 and wants to move up. My neighbors rent the house next to mine for more then I pay for mortgage, taxes and insurance. I was fortunate to buy back then. I’m not going to sell now and rent because it doesn’t favor my situation. I can save more money for my next home by staying in my current home. I am sitting on the fence waiting for prices to drop and if they don’t I can live with that.

[recordsclerk]

A large down payment and my fiancee had good credit. They actually sold the home to us under her name, but with my earnings. She was a student at the time and did not work. I was able to use one of those stated loans since I was selling items at the swap meet. I had to pay a higher interest rate, but refied about a year later.

[recordsclerk]

K Hovnanian has a new development in Fallbrook. The yards may be smaller, but the price in the range you are looking for. They are smaller homes, but the plan 4 if I remember correctly is over 3,000sq feet. They are having some kind of party this weekend with free food/drink. I think they are releasing a new phase. There is also a KB development in Fallbrook and Oceanside with no MR with prices in the low $700’s. There is a development in La Mesa (almost sold out) called Serra-Mar with no MR with prices in the low $700’s.

[recordsclerk]

Prices are way out of wack and need to come back down to earth, but with 100K income you can buy a home. You just have to be resourceful. I don’t recommend buying a home right now, might want to wait at least a while. I make about 30K a year and so do my co-workers. Many of whom, including myself purchased homes when they were 150k-250K. We were also only making 20K a year at the time, but worked as much overtime as we were given. Some of us rented out extra rooms and or lived with extended family members. I also ran a booth at the local swap meet on weekends to save for a down payment. So if you really want a home it’s possible. At first I was scared to buy, but now it all seems to be easy. As long as you can afford a fixed 30 year loan, and you don’t see yourself getting laid off anytime soon, it’s possible. Also your payments will stay the same, but your income will rise along with inflation. The people that are losing their homes took loans that they couldn’t afford. They also tend to spend more then they can afford. You see a lot of forclosures with Hummer’s or BMW’s in the driveway and wonder are these people nuts or what. So be patient, save your money for a down payment, and the market may just play into your hands.

[recordsclerk]

I was at Evergreen last month. It wasn’t busy, but there were other perspective buyers and people like me just window shopping. Evergreen in 4S in very nice. Probably the best value for homes over 3000sq ft. It is still over priced and the MR, HOA are very high. This is one of the places I would like to buy someday. The lot is very small. Ivy Gate in 4S ranch has larger lots, but the prices are in the 1.4-1.8 million range. If prices come down 30-50%, I would seriously think about purchasing an Ivy Gate home. Ivy Gate has a lower HOA and Tax rate of 1.4%.

[recordsclerk]

It’s seem to me that we are the true victim’s here. Houses are more expensive and loans will cost more for the consumer. These idiots that supposedly fell for the scam (more like willing participants)are crying all the way to the bank. It’s always someone else’s fault. What about the greed. People you bought at the wrong time. Whose fault is that. Please look in the mirror and start pointing that finger. Greed + bad timing + stupid loans = foreclosure.

[recordsclerk]

That is true, but when you landlord sells the home on you, and you have to relocate, your children will have to make new friends and go to a new school. They will never feel at home.
There are other good reasons to buying a house. Now may not be the right time to do that, considering the market may tank at any time. I too am waiting for the big crash. Since I can’t afford the home that I want, it’s easy to be patient.

[recordsclerk]

That is true, but when you landlord sells the home on you, and you have to relocate, your children will have to make new friends and go to a new school. They will never feel at home.
There are other good reasons to buying a house. Now may not be the right time to do that, considering the market may tank at any time. I too am waiting for the big crash. Since I can’t afford the home that I want, it’s easy to be patient.

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