Need Advice on Fairfield, CA (Green Valley: real estate, rentals, insurance)

[greenmom_09]

Hi, We currently rent a small house in the Green Valley area in Fairfield, CA and are debating weather or not to buy a house in this area. The house prices in this area are awesome right now and this looks like the best time to buy. The problem is jobs... my job is ending in 8-10 months and though my husband's job is still good for another 1-2 years, we dont know what will happen after that. We are not too thrilled with the school rankings in the area either, but going to a good school district means paying a million dollars for a house or moving out of state to a more affordable state.

If we buy a house here and have to move in a year's time, one option was to rent out the house. How is the rental market in Fairfield? Would it make sense to do this? What in your opinion is the future of schools in Fairfield? Is it going to get better?

Sorry for the long post and thanks for the advice.

[Boompa]

Fairfield depends on Travis Air Force Base, so the economy there is probably better right now than surrounding towns. The schools are probably fair, as in most military towns. My only advice is, if you are unsure of how much income you will have, don't rush out and but more than you can afford.

[clongirl]

Originally Posted by greenmom_09

Hi, We currently rent a small house in the Green Valley area in Fairfield, CA and are debating weather or not to buy a house in this area. The house prices in this area are awesome right now and this looks like the best time to buy. The problem is jobs... my job is ending in 8-10 months and though my husband's job is still good for another 1-2 years, we dont know what will happen after that. We are not too thrilled with the school rankings in the area either, but going to a good school district means paying a million dollars for a house or moving out of state to a more affordable state.

If we buy a house here and have to move in a year's time, one option was to rent out the house. How is the rental market in Fairfield? Would it make sense to do this? What in your opinion is the future of schools in Fairfield? Is it going to get better?

Sorry for the long post and thanks for the advice.

IMO, it would be very unwise to buy a house unless you know for certain that you will have another job lined up after this one ends.

The house prices may have "stabilized" (according to the real estate cheerleaders that like to pump up fear so people will buy) but prices are not going to suddenly rise unless incomes and job stability do the same...that's not happening...

I don't know the specifics of Fairfield, but I have a hard time believing that you would recoup the mortgage/insurance/maintenance on a rental. I'm pretty sure that there would be a glut of rentals right now in Solano Co (which I've read is happening everywhere which would lower the price of the rental). Just my 2cents!

I don't know about the schools though..I heard that several of the elementary schools in Fairfield were closed down. I know that all the schools in the Bay Area are hurting over the budget cuts so it's doubtful these things will improve any time soon. Good luck!

[prairie guy]

I don't see the Fairfield/Solano County market recovering as quickly as in 2 years....if you're able to sell a home, you may be able to get your money back, but there is a decent chance you'd be waiting to sell at the price you want. And yes, the Fairfield-Suisun schools are terrible, and the other nearby public districts are not that much better. Owing in any of them will not raise your home values.