$10,000 is 3.5% of $285.714 so if you can qualify for an FHA loan and can find a place for that price ~ maybe dily city
In the San Bruno, Daly City, Colma, Pacifica, and South San Francisco area there are only two homes that are currently for sale under $300K.
I own homes in California, Hawaii, and Portugal. Let me know if you have any questions or if I can help in any way.
If you are looking from San Francisco to San Jose, those are currently the hottest markets in the country and many homeowners are seeing a huge increase in values. The prices are rising so quickly due to lack of inventory and demand that we will soon see short sales to be very few.
If all you have is $10,000 you will need to either get a gift, that does not have to be repaid, or save more money.
San Francisco does have a first time buyers program that is offered through the Mayor Office of Housing but you need the closing costs plus a minimum of a 5% down payment inorder to qualify.
That answer would; Probably not!
It would depend upon what the LISTING PRICE is:
I seriously doubt that the Sellers put a LISTING price that was 60% above the Market Value.
That would be equivalent to offering $300,000 for a $500,000 house, (which probably has a $600,000 loan; which is why it is a Shortsale.)
Have your Realtor do a CMA to determine the MARKET VALUE.
Don't forget that with a Townhouse or a Condo, you will have an HOA fee every month too.
Good luck and may God bless