Melissa, all the signs point to this being a good time for you to buy. That said, only you can make that decision. In order to do so you should sit down and work out a realistic budget. Track all your expenses and money out to see if there is enough left over to cover your monthly payments. If not, are there areas you can cut back on? Also, think about additional expenses such as insurance, HOA dues, and any necessary maintenance. It's a good time to be buying with lower prices and low interest rates but you need to be comfortable with it being the best time for you.

Melissa, you are in a great position to purchase a condo in SSF. You may want to take a look at FHA loans as well as conventional loans. With an FHA loan your parents can gift you the downpayment and you can ask the seller to credit you up to 6% to cover closing costs and buy down your interest rate. For more info, please call me at 650 291 4996. I grew up in South San Francisco and currently reside here, so I have vast knowledge of the area and current market. You can also receive MLS access on my website http://www.MVE2DAY.com

Well as a rough starter you are looking at payments around $2250, plus hoa fees, plus taxes say $350. Maybe those can be reduced some if you get an even better deal on the condo price. If you want send over your contact info or regular email and I will connect you with a good lender.

Glen
glenmitchell@remax.net

Hi Melissa! Yes, if your downpayment will be coming from your parents then you're good, but you still have to consider your closing costs which is approximately 2-3% of the purchase price. You can always ask as for it as a credit from the seller. E-mail me at fiona@fionasantosrealty.com so I can provide you listings in your area around that price range and to discuss your scenario further. I'm also having a free First Time Homebuyrs' Seminar on November 15, Saturday at 1:30pm.