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Old 11-16-2007, 11:09 PM
 
6 posts, read 25,526 times
Reputation: 12

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My family is moving to San Diego in Feb. 2008, and we are debating buying vs. renting. The market seems to be a lot softer than about a year ago, but what is the talk there? Is the market predicted to con't to drop? For those of you living in SD, would you buy, or rent for another 6-12 months and watch the market? Thanks a lot.
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Old 11-17-2007, 07:45 PM
 
3,106 posts, read 9,121,577 times
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We spoke to a realtor/financial advisor this morning and he said that the real estate market will continue to drop.

We are actually getting ready to sell our house; just signed a lease for a rental in the La Costa/Carlsbad area that will hopefully turn into a buying opportunity (the owner wants to sell - just getting her ducks in a row). It's not a great time to sell so it will be interesting for us. Our neighbors sold not too long ago & did well despite the market.

Didn't think we'd EVER move out to the burbs but with twins on the way, we're having to make some big changes and that includes getting into a house for a lot less than we're paying in mortgage now but with potential to buy and get more for our money.
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Old 11-17-2007, 07:50 PM
 
Location: southern california
61,288 posts, read 87,384,526 times
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wait 6 months b4 you buy.
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Old 12-20-2007, 02:43 AM
 
Location: LOS ANGELES
14 posts, read 57,288 times
Reputation: 12
depends on the area. some markets will stay strong, other may dip a bit. most base sales prices will have to remain the same with the offers of incentives to offset buyer costs. this makes it possible for seller to still make a profit. Moderator cut: soliciting and or advertising not allowed per site TOS

Last edited by da jammer; 12-20-2007 at 06:00 AM..
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Old 12-20-2007, 12:25 PM
 
17 posts, read 68,834 times
Reputation: 14
The most important thing is to not buy more than you can afford. Take your current salary, multiply it by 3. That is the MAX price of the house you can reasonably afford. Unfortunately, most people make less than $100k (on average), so most people can only afford a house price of $300,000. The problem is that the median home price in San Diego is almost $500,000. Hence, the housing market will continue to crash until the prices come back in line with incomes. It's pretty simple. I would rent.
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Old 12-21-2007, 07:55 PM
 
3,035 posts, read 14,428,174 times
Reputation: 915
San Diego home values suffered their biggest losses in history this year.....

http://www.msnbc.msn.com/id/22311076/from/ET/ (broken link)

Rent.
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Old 12-21-2007, 08:05 PM
 
Location: San Diego
1,536 posts, read 1,482,253 times
Reputation: 1586
Rent.

Even if you can afford the crazy prices, it's a poor investment right now.
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