Any advice on buying a home in today's market? (San Diego: sales, real estate)

[cjawalt]

I'm a newbie and my wife and I are moving to SD soon from Austin, Texas. I've done some research on relocating but I need some advice on buying a home from current homeowners living in San Diego County.

My question is simple: if you were in the market to buy a home today, what would your approach be if you wanted to buy a home within 6-12 months?

For example, when would you hire a real estate agent? what websites would you check out? Any tips on getting a great deal, e.g. foreclosures? etc.

Ideally, my wife and I would like a single family house with 3 bedrooms for under $300K, at least 1200 sqft, and that is located between north San Diego and Carlsbad with good access to I-5.

We will be renting while house hunting but I wanted to see if current homeowners had any tips that could get us going in the right direction?

Thank you for your help in advance!

[tickyul]

Originally Posted by cjawalt

I'm a newbie and my wife and I are moving to SD soon from Austin, Texas. I've done some research on relocating but I need some advice on buying a home from current homeowners living in San Diego County.

My question is simple: if you were in the market to buy a home today, what would your approach be if you wanted to buy a home within 6-12 months?

For example, when would you hire a real estate agent? what websites would you check out? Any tips on getting a great deal, e.g. foreclosures? etc.

Ideally, my wife and I would like a single family house with 3 bedrooms for under $300K, at least 1200 sqft, and that is located between north San Diego and Carlsbad with good access to I-5.

We will be renting while house hunting but I wanted to see if current homeowners had any tips that could get us going in the right direction?

Thank you for your help in advance!

I just posted an article over in Pol/controversies about predictions that there is NOW a double dip going on in the housing market.

I would say, be very careful about catching a falling sword. If and when you buy I would MAKE SURE that wherever you buy you get a SUPER DEAL.

Many of the big RE sites have features that give you a real good feel about prices of homes and which way they are going, you can get daily updates on the properties you are interested in.

I am not going to knock RE agents.......but.......when it comes down to it they are sales people.........they want to SELL homes.

[NYSD1995]

Originally Posted by cjawalt

great deal, e.g. foreclosures? etc.

Ideally, my wife and I would like a single family house with 3 bedrooms for under $300K, at least 1200 sqft, and that is located between north San Diego and Carlsbad with good access to I-5.

Plan on living in a condo closer to 15 than 5. Scripps Ranch is a good bet for that type of place.

[sdjimbob]

In today's market (or since about Oct 2010) there is far less competition and few multiple-offer situations, because the federal and state tax credits are long gone. The house should be yours if you offer list, and any good offer under list should get a counter-offer at least.

The only 3 BRs under $300 that I know of would be well south of the 8. North Coastal would be more like $600 for a 3 BR.

[vahnessuh]

You might want to look at San Marcos, Vista and Escondido for your 3 bedroom single family home. Those are the only areas you can possibly get it. If you don't want those areas, you're only able to get condos or old townhomes for your price range.

[eng142]

If you're not in a hurry and can rent for a while, try checking out new construction projects near Poway, Rancho Penasquitos, or Scripps Ranch. Builders are offering all kinds of incentives these days because they're hurting. I've never lived in Austin, but I've visited and know that you can buy a whole lot more house out there than here (a palace for $300K in some areas). Not so much here.

[shmoov_groovzsd]

cjawalt,
If you dont know the market, rent and wait to see what you like or can afford when you get here. 6-12 months is an eternity of change yet to happen. Some say prices will fall here, but I dont think that is entirely true. For some areas yes, but where most people want to move not so much. Coastal areas will always be more desirable so going into the fringe cities are where you might find better deals. North County is not an area I know well, but has a tendency to be the most desirable.

Newer plug and play suburban communities with good schools will cost you $$$. Older established areas have a tendency to cost less but require more homework. So just keep watching the zip codes for the next 6-12 months and see what is moving and what is not.

vannesuh pointed out some cities that fit your criteria that might be a good starting point.
For example use a website like this to watch the daily changes. You can see if prices are getting lowers, new homes on the market and homes taken off, sale pending and new listings.
http://www.sdlookup.com/MLS_Updates-92-Vista

Do your homework here as it will pay off when working with an agent. It will only help you in the long run.