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Old 07-21-2013, 04:46 PM
 
75 posts, read 123,217 times
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Quote:
Originally Posted by irishman_irl View Post
Hi All,

3. The Market - this is the million $ question, are we in a bubble, are we over paying for a condo in Pleasant Hill. Worse case, even if the market did not move and we could sell in 18-24 months and get our money back we would be happy. Does anyone have any thoughts or insights about the Pleasant Hill market?



Thanks!
Why would you sell in 18-24 months ? If you're considering this, then your timescale is way too short! Stick with renting.

What kind of mortgage term 15 or 30 year?
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Old 07-21-2013, 04:47 PM
 
99 posts, read 386,643 times
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Mortgage term is 30 years @ 4.75%

Right now my main concern is that the property is highly overvalued and we will pay to much for it.
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Old 07-21-2013, 05:07 PM
 
Location: Oakland, CA
28,226 posts, read 36,866,909 times
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I am noticing a big uptick in prices in my neighborhood too. Condos that were 200-220k this time last year are 270-320k.

I don't know P. Hill, but in Oakland condos near transit are increasing way more than the ones that aren't.

The no transit ones are up 10%. The transit ones are up 40-80%.


On an autocorrecting iDevice.
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Old 07-22-2013, 01:17 AM
 
Location: Formerly Pleasanton Ca, now in Marietta Ga
10,347 posts, read 8,564,711 times
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I passed up a 3/1.5 townhouse in Concord about 16 months ago that I had in contract for $109K . It can sell today for about $250K. Should have bought it. Instead I bought a small house for $135K that might sell for $250k or a bit more. I feel pretty happy I bought it when I did.
Another deal I am in is a townhouse I had in contract for $65K on a short sale. Today it might sell for $160K.
I don't think prices will jump like they have but go up very slowly like 3-5% a year maybe. I don't think they will drop to where they were in 2012.
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