I migth Relocate to Escondido and I want your help (Los Angeles: bank owned, for sale)

[coolricks]

Hello there, I have been reading several threads in regards to San diego cost of living and still have a couple of questions:

What is the income and sales tax there?, I'm being offered a position making $35dlls/hr would I be able to buy a house?, right now I have a mortgage of $2300/mo which I can afford very well, will it be the same in/or around Escondido?

How is the Housing market right now there? will I be able to survive with an income of $73,000.00/year?

We are a family of 4 with 2 children (7 and 5). Thanks for your inputs.

[lovingmy4]

I lived in Escondido for 2 years about 13 years ago. At the time, we moved there because it was more affordable. I do know that that has changed somewhat. My experience, from what I remember, is that it was very hot. And it always took forever to get anywhere because of the traffic within the city. There is a very large and vibrant hispanic community (like a lot of San Diego). Never bothered us but might bother some. We had a 1 year old and 3 year old at the time and had lots of fun at all the parks in the city. I used to love driving around and looking at some of the older homes in the city's center. There is not much need as far as shopping and dining goes to even leave the city, so that might be very convenient for you and your family.

As far as what you can afford, I would suggest checking out some home listing sites such as REALTOR.com - Real Estate Listings & Homes For Sale or Coldwell Banker Residential Brokerage presents CaliforniaMoves.com the real estate site serving all of Northern and Southern California, Los Angeles, the San Francisco Bay Area, San Diego, Sacramento, Orange County, Silicon Valley, Santa Barbara, San . This may give you a better idea of what is available in your price range. But mostly, I would recommmend renting a home until you are sure you want to stay in that area. San Diego has such a diverse range of areas, you may not want to stay there once you get there. We lived in a really great 2 bed, 2.5 bath, 2 car garage townhome that we paid $775 a month for (in 1995). I can't really answer your questions about sales tax or property tax, because, like I said, we were renting and never owned a home there. Plus it was a long time ago. You should be able to find those answers fairly easily if you just google them.

Good luck with your move. HTH

[cnkad]

The only thing you might be able to afford on that salary here in san diego is a small condo in a less than pristine neighborhood. (and then with the cost of HOA fees, maybe not even that) My advice...if you really are set on moving here, then rent a house. Rents here are not as outrageous as the homes. You can get some good deals on rental homes in vista which is close to escondido and is overall a nicer place to live. Thats just my opinion though.

[CrissCT]

I recommend the Rancho San Pasqual area of Escondido. It is out by the Wild Animal Park and it is a nice gated community on a golf course with various sized homes. I think the prices have come down a bit so you could get something very affordable and the area is safe and good for families. They have their own school up until 8th grade and it has a great reputation and walkable from the community. Also there is no mello roos in that community. If you are working in Escondido then the drive wouldn't be bad, otherwise it is a bit out so that is why the prices are lower there (and also it gets pretty hot there in the summer - but they have a community pool).

[esmith143]

Sales tax is 7.75%, income tax on 73k will probably be in 2-3k range (not sure). Property tax is around 1% of appraised value. So if you buy a house for 500k, you'll have to pay 5k a year in property tax.

Escondido is spotty, some areas are good, some areas are not. Start by renting and looking around. 92029 zip code is probably the best but it's relatively expensive.

2300/month mortgage is doable, you'll need good credit history and enough cash to put at least 5% down (20-25k).

If your job is in Escondido, check out Vista and San Marcos, and maybe even Temecula (1/2 hour drive north on I-15). Temecula is extremely distressed, there are some smoking deals out there:

32634 CLEARVAIL DR, Temecula, CA, $285,000, Pala Road/Red Hawk Real Estate
45267 Aguila CT, Temecula, CA, $343,900, Pala Road/Red Hawk Real Estate

(That's way cheaper than anything you can find in good areas in San Diego county!)

Two things to be concerned with: if your wife is going to look for work, it may be better to live closer to San Diego, I'm not sure if the job market is good in Temecula. Also, prices are going down fast everywhere and the bottom is not in sight. Don't buy unless you're sure that you won't have to sell in the next 5 years.

[Judy P.]

You should be able to easily find something nice in your price range. The San Pasqual area is nice and northern Escondido ( Escondido Hills, Escondido Country Club, and the new areas around there ) also Hidden Meadows is nice but a little further out of town, also the area around Lake Hodges.
Good luck to you!

[cnkad]

I dont know I am still not convinced you can afford a house in sd on a 73000 salary. Maybe a condo...but not a house I am pretty sure about that. I guess if your wife is working too, then you could do it.

[Judy P.]

If a condo suits you believe me it should be no problem here in Escondido. The city council is on a "beautify Escondido" mode, which of course is good but their idea seems to be to make it condo city. There will be around 240 condos being built in the downtown area (on 5th and Escondido Blvd. where the Wells Fargo Bank was) if you want to live in town.
There are nice condos in the Escondido Hills and Escondido Country Club area.
I do however believe with the prices of homes falling like they are you can find a home you can afford in a nice area. Check out Realtor.com, they also have a monthly payment gage too!
Good Luck!!!

[coolricks]

Thanks to all for your comments!!! I checked several links and it seems San Marcos and Vista have good places, but I'm thinking that my salary wont cut it here, good thing wife is going to help in

I'll be getting the job offer and will see what they are offering then I'll decide to go at it or stay here.

Thanks again!!

[Rosesong]

I have lived in Escondido since 1985. I love the variety of shops, restaurants and entertainment, especially in our cozy "downtown". Escondido is one of the few California cities that has maintained its heritage yet still thrives. It has a small city feel, yet has a hospital with a trauma center (one of the few in San Diego county), a beautiful Performing Arts Center with museums, good library with an annex, community centers, public parks with tennis courts and swimming pools, nearby community and state colleges, lovely Dixon Lake, the Wild Animal Park and is within 30 minutes of beaches, mountains and the desert. In the winter, the surrounding hills are an emerald green. If the summer gets a little too warm, kick off your shoes and head to Carslbad State Beach. If you can live and work locally to avoid communting along the I15, you will be very happy living here.

There are a few brand new neighborhoods in east Escondido. With housing prices taking a tumble, there are some bank owned homes under $500,000. We just looked at a 2400 sq ft bank owned home built in 2003 with an asking price of $465,000. We live in the same neighborhood and know that is not much more than the price it sold for brand new. Most people feel that the prices will come down even more and it may be prudent to wait longer before buying.

In regard to the schools...all public school have issues. Some of my neighbors are dedicated public school teachers that have a positive impact on their students. However, the influence of gangs can be a problem in the local schools. I know many people who home school their children.

No matter where you live, there is a diversity in cultures...and in each culture there can be those who had made poor choices in their lives. There are many hispanics who live in Escondido who work very hard for a living and do their best to raise their families in a good community. I have enjoyed friendships with all races of people who live and work in Escondido. There are however, kids who get into trouble and there are gangs here. In my opinion, this problem is not nearly as bad as some other areas in San Diego.

I love calling Escondido my home. We have traveled to Arizona, New Mexico, Colorado, Nevada, Oregon, Washington and Idaho...there is no place like home.