San Diego Housing Market News and Analysis
Help for young couple buying a first-time condo with FHA?
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Submitted by Balboabride on January 19, 2009 - 4:02pm
I have been enjoying this site for a while, and wanted to enlist the advice of those who have been on the site longer.
We are a young couple that have just married but have been together for several years. We are in stable, but medium-paying jobs (110k together)and we are currently renting a 1 BR condo in Hillcrest.
We have seen prices in condos take a serious dip in the past 2 years and we have been saving up to buy. We have saved 15k for a down payment and have been pre-approved up to 300k. We'd like to spend closer to 160-220k on a 2 BR.
With the market saturated with inventory (both good and bad)...does anyone have any advice on a "good area" that will hold its value in the long term? And a realtor that can show us around?
Our plan is to live in it for 5-10 years and then rent it out. We like our area...but it seems expensive to buy in Hillcrest-- where you are constantly pan handled and pay HOAs for no amenities whatsoever.
Suggestions? We don't "know" the areas outside of central San Diego well enough to choose one over the other...also...we need a dog park nearby.
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