Home Selling in San Diego>Question Details

Coredertoit, Home Buyer in Mi-Wuk Village, CA

What's the condo market like now in SD in comparison to last year. Better? Worse? or flat? I'm trying to decide whether to sell vs rent

Asked by Coredertoit, Mi-Wuk Village, CA Thu Aug 11, 2011

out my unit.

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I would actually say that although condo prices remain low, they are selling quickly right now. Every property that is well priced is getting mulitple offers since there is so little inventory.

In deciding whether to sell or rent, a very difficult decision, I recommend checking out this blog post I wrote some time back but it lays the issues out nicely.

0 votes Thank Flag Link Tue Apr 3, 2012
Condo market is tough right now since most of the lending is FHA insured these days. FHA has strict guidelines regarding condo purchase eligibility which tends to limit the ability of a lot of units to be sold to FHA buyers. Things will get back to steam once (if) lending guidelines loosen up and more conventional buyers come to the table. If I owned a condo right now, I would hold and rent until the pool of condo buyers increases. Do you know if your complex is FHA approved? I can look it up for you. just let me know.


Web Reference: http://www.e-approval.com
0 votes Thank Flag Link Fri Aug 12, 2011
This may be an indicator. Several portfolio lenders reduce the loan-to-value by 5% on condos in San Diego County. They don't have that guideline for any other county in the state.

Happy funding, Rudi
Web Reference: http://www.umboc.com
0 votes Thank Flag Link Thu Aug 11, 2011
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