Lornaharkins, Home Buyer in San Diego, CA

Hi, I am researching family orientated areas in San Diego, I'm from London UK... Father-in-law and Sister-in-law live in 92103, we would like to be

Asked by Lornaharkins, San Diego, CA Sat Mar 31, 2012

as close as we can, with good schools and nice area... The kids are 15, 14, and 10, I'm not sure how we'd go about a mortgage in the US, so we are drawn to where we can afford to buy a place outright, am I doing the right thing, or is a small mortgage possible???? Quite a scary time for some of us, Thanks

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Answers

19
Jeannie Thompson’s answer
Lorna...I hope the lenders I posted have helped you...that's a great place to start.

I specialize in 92103 and surrounding areas..please give me a call..or email me for further information.

jeannie@jeanniethompson.com
1 vote Thank Flag Link Mon Apr 2, 2012
Jeannie, you have been a great help, and I'd like to thank you for the time spent helping me so far. We are currently in Majorca having our Easter holiday, when we return, I will be straight onto some of the leads you've provided. We need to sell our house here in Surrey quick, to free up the equity we have in it. Get the job situation finalised, kids in schools, then Bon Voyage Blighty..... I'm so excited... Shouldn't be too long to sell the house, our neighbour just sold his on the 1st viewing without it being marketed or photographed yet... I'm happy for him, his wife just passed, and he's moving to New Zealand to be with his daughter... Exciting things happening in our little close, there's been no movement in our little idle for 12 years, so people are lining up to get a house here, we are near a great school with a waiting list as long as your arm.
Not sure if you celebrate Easter like us, so I hope wishing you a Happy Easter is not offensive. Enjoy your week, Lorna
Flag Tue Apr 3, 2012
BEST ANSWER
Welcome to SoCal, Lorna,

There are many great areas in Southern California and I am sure many of the real estate professionals here will be able to help you access which area best meets and exceeds your needs.

As mentioned, there are mortgage programs that are available for your financing of real estate in America. Because rates are so low, you may be well served to retain your savings and finance as much of the property as possible. I truly believe in letting the numbers and my clients goals dictate the best solution to their situation. In other words, I would be happy to provide you with all of the necessary information and the costs involved so you can make an educated decision on the best course of action to accomple your goals. Please feel free to contact me via my profile for direct and concise answers, with no obligation or pressure. Best of luck to you!
1 vote Thank Flag Link Mon Apr 2, 2012
Thank you so much for your answer Dee Dee, we'll be in touch soon
Flag Tue Apr 3, 2012
Hello Lorna~

I would definitely start with finding a great lender to determine if you qualify for a home mortgage...as several have mentioned, there are loan programs for foreign nationals, and this would be a GREAT way to begin establishing credit in the US. Borrowing with todays rates is such a great way to leverage your cash! Happy to help and to refer you to some of the finest Lenders in San Diego. Let's turn scary into happy tears of joy! Welcome to San Diego!!

Chris Gorno
Windermere Real Estate SoCAL
chrisgorno@gmail.com
(619)788-4345
http://www.chrisgorno.com
DRE# 01499885
1 vote Thank Flag Link Sun Apr 1, 2012
92103, which is Mission Hills is very central to other communities that are more affordable. If schools are a consideration, you may want to explore Poway, which is only about 20-25 minutes from your family. Great schools and affordable house...please feel free to contact me at 858 395 7727 or visit my website, http://www.TheRealEstateCat.com and you will be able to explore other communities and neighborhoods. Look forward to hearing from you.
1 vote Thank Flag Link Sat Mar 31, 2012
Hello! If you would like a family oriented neighborhood near the 92103 zip code, I recommend Scripps Ranch and Tierrasanta as two of the nicer options. They are 15-20 minutes away and both offer the family liffestyle. Average houses in these areas start in the high $400's and work their way up from there.

Other nearby areas with families include Serra Mesa and Clairemont.

I'd be glad to show you around. The location you choose will likely depend upon your budget, tastes, and preferences.

Feel free to call me anytime to discuss further! (619) 379-8616
1 vote Thank Flag Link Sat Mar 31, 2012
First of all you want to establish how much home you can purchase by getting a pre-approval from a lender. I can help you with that. The lender will ask you questions about how much you have to put down on a home. Some of the questions are quite personal, but that will help you determine the home price. Next we need to find a home near your family, where there are good schools. San Diego is not that big, so you are never very far away from 92103.

I work with several lenders. Here are a few.

Greg Wickstrand - Home Services Lending - 619 665 9035

Alex Scoma - 858 692 9255

Let them know I referred you.

email me at jeannie@jeanniethompson.com

I hope this has been helpful.
Best regards,
Jeannie Thompson
858 395 7727
1 vote Thank Flag Link Sat Mar 31, 2012
Jeannie, thank you so much for your response. I will do some more research.

Kind regards,
Lorna
Flag Sat Mar 31, 2012
Hi Lorna,

Focus on how great it'll be to start your life in Southern California. Think about the beautiful marina, great jazz clubs downtown, the variety of restaurants, Sea World with the kids, the beach on Sunny afternoons. Trust me, you're going to love this lifestyle. I highly recommend Carlsbad and San Elijo Hills. Both areas are about 40 minutes North of 89103 and it's a little more laid back, and the schools are fantastic.
Foreign national mortgages (if you can get one) can be really hard to qualify, high interest and lots of down payment. You can either pay cash or get your family members that are established here to be the primary's on the loan depending on their situation. We're here to help if you'd like to work with us. Best of luck.
-Chris Whittaker
chris@ncsandiego.com
760-618-1490
1 vote Thank Flag Link Sat Mar 31, 2012
I agree, big difference between the two towns (Oceanside and Carlsbad). I think there reaches a certain time when going out on the town doesn't become as important as being close to good neighbors, walking to the park with your kids to watch them play baseball, the feeling you get when they get accepted to a great college because of the schooling you've provided them. I know that's why we moved to this area. Let me know when you're ready and I can help you find a great home to continue the legacy.
-Best regards, Chris
Flag Sun Apr 1, 2012
Chris, thank you so much for your response, I think I am definitely sold on Carlsbad now, I've just been looking around. It suits me down to the ground, we are coming from Surrey, and although I'm a Londoner born and bred, I still moved slightly out of all the hullabaloo for better schools, safer environment and community spirit. So Carlsbad is looking like for like at the moment. I did look at Oceanside when we were there earlier this month, but I'm sorry I wasn't too keen. Looks great for visiting, and we had a fantastic meal in a beautiful restaurant, but I wasn't feeling it for my next permanent home. I've just shown the old man Carlsbad properties, think I've got him sold too.

Wish me luck,
Kind regards,
Lorna
Flag Sat Mar 31, 2012
One of the first things I would suggest is to contact one or two mortgage brokers and discuss the viability of a loan. Once you have spoken with a lender, you would have a better idea about a mortgage. I can suggest a couple that deal with foreign nationals. In San Diego we are seeing multiple offers on many homes in the $500,000 and under price range. The inventory is shrinking and demand is high.

Yes, it is a scary time. But when you are working with the right people who can impart good information, you can make a better decision.

Contact me if you would like further info...Good luck with your move.

Maria Weiss
Prudential CA Realty
858-248-0863
Web Reference: http://www.mariaweiss.com
1 vote Thank Flag Link Sat Mar 31, 2012
Thank you for your advice Maria, I have been trying to keep track on the property market for sometime now, and yes I have seen that demand is high. It looks like San Diego's recovery to the market is doing better than some. It is very hard looking at properties over the internet, we would like a great home like the one we currently live in... When you're making life changing decisions from so far away it is quite daunting. We were just in San Diego at the beginning of the month, and to be honest it wasn't long enough, but now we have more direct flights from the UK, we'll have to return pretty soon I think.

Thanks once again
Regards,
Lorna
Flag Sat Mar 31, 2012
Hello Lornaharkins,

Scary? Yes, I agree that buying a place in a different country can cause some uneasiness and a little concern. However, if you work with a professional who understands everything it is that you are trying to accomplish, along with being able to walk you through the process in an easy to understand manner, then you should be in good hands. 92103 is Mission Hills and is quite a neat neighborhood with a lot of craftsman style homes. Generally speaking, most places in San Diego would be no further than 30 minutes from 92103, so it's a question of how close you want to be to the relatives, what kind of home you can afford and any other parameters you may have. As far as buying a place outright, while it may be nice to not have any debt, it really becomes a question of whether you want your cash tied up into a home or have that money working for you elsewhere. Getting the interest deduction on a mortgage is one of, if not the, biggest tax benefit, so assuming you are in a 25% tax bracket and a 4% interest rate (can probably get lower, but I'm being conservative), then the effective cost of borrowing is really 3%. So, can you earn more than 3% elsewhere with your money? Of course, if for whatever reason you are not able to obtain financing, then cash may be your only option.

At any rate, you should be ecstatic to be moving to America's Finest City. As a San Diego native and someone who has traveled rather extensively, there are few better places to be in the world than here.

Sincerely,

Chad Basinger, REALTOR®, CPA, CFP®
858-997-3704
chad@chadbasinger.com
Web Reference: http://www.chadbasinger.com
1 vote Thank Flag Link Sat Mar 31, 2012
Hi Chad,

What great advice you have given us, about to sit down to dinner and go over the figures with hubby. Our main concern at the moment is schools, this is given me a mild headache every time we discuss it. The soon to be sixteen year old, is about to sit his GCSE's (final school exams here in the UK) he has a place for college in September, and our dilemma is whether we buy now in San Diego and rent that out, while he finishes college (2 years) or just come now over the Summer and find him a High School!!!! I know you're not able to comment on such a life changing decision, but the figures you've provided have helped somewhat.... In any case moving over and being only around 30 minutes from Hillcrest is better than the 5000+ miles we have currently.

Regards,
Lorna
Flag Sat Mar 31, 2012
Hi Lorna,

You may leave your coats and rain attire at home to save on moving costs but you are going to LOVE it here!!!

As a foreigner myself I can attest to the great weather and lifestyle. Be prepared to pay half the price for petrol and a fraction of the price for a car.

As mentioned below there are many mortgage products out there for foreign buyers. I would recommend exploring your mortgage options before purchasing a home outright as the interest rates are at historic lows.

Regarding Neighborhood, Coronado, La Jolla, Point Loma, Old Town, are all good choices. I suggest renting for a period of time before making a purchase because everyone's taste differs. The last thing you want to do is tie yourself to an area and regret your decision.

Good luck.
0 votes Thank Flag Link Fri Jun 8, 2012
Lorna,

There are a lot of great neighborhoods near your in-laws. Where they live is a great area. I would also look in Coronado, Point Loma, and La Jolla. Best of luck!
0 votes Thank Flag Link Thu Jun 7, 2012
Thank you for your time to answer my plea Diane, we've been to all three of those areas, and yes they are fabulous........ pricey, but Fabulous. My sister-in-law has the most amazing house in Mission Hills. We have a great home here too, and people are clambering over each other to get in our area, so we are confident of a sale on our property which goes live at the weekend. Soon as the money hits my hands, I'm eager to purchase in Cali,
Kind regards
Flag Thu Jun 7, 2012
Hi Lorna,
I would recommend that you consider homes in the Poway Unified School District. Your children will be in Middle school and High School and the PUSD will offer them the best education.
Homes in the PUSD are located in the 92127,92128,92129 and 92064 zip codes which is approx. 30 minutes away from 92103 ( Hillcrest).
A four bedroom home in 92129 is around $450,000 - $550,000.
Please contact me so that we can work together to set-up a buying plan for you.
Thanks
Janet McCarthy
Connect Realty
jmccarthyhomes@gmail.com
858-243-5719
0 votes Thank Flag Link Mon Jun 4, 2012
Understandably scary! It's a big move.

It's always hard to answer these questions without an idea of your price range. In the moderate, $400-600K price range for a house, the best schools are in the Poway School sytem and includes the communbities of Poway, Rancho Bernardo, and Rancho Penasquitos. There areas are 30-35 minutes from the 92103 area.

A bit closer I might suggest Tierrasanta and Scripps Ranch which are also upper middle class communities but a bit closer. Again, you can buy a home in the same price range.

Please let me know if I can assist with your move and make it a bit easier!
0 votes Thank Flag Link Wed May 16, 2012
I have experience with foreign national programs and ways to establish credit fast. I just formed a partnership witha credit expert with 30 years in the business. Contact me at at 858-442-1111 or dmarquez@kinecta.org.
0 votes Thank Flag Link Mon Apr 2, 2012
Thank you for getting back to me, I hope to be in touch again soon.
Flag Tue Apr 3, 2012
Love England! We've had a couple of great experiences there over the years and travel to Europe quite extensively. Our first trip across the pond was wonderful as our daughter, a USD graduate, played professional basketball in England and we traveled throughout England and Whales with her for several weeks.

Our second trip was almost as much fun as we spent almost 3 weeks there to see the San Diego Chargers lose to the New Orleans Saints in your annual NFLUK meetup. My wife is an ardent Drew Breeze fan but we sat in the Charger's rooting section. We really confused the fans. Everytime Drew threw a TD pass we'd cheer and everytime the Chargers scored we cheered. We couldn't lose but left a lot of fans scratching their heads.

Here's another thought. You may want to consider a Manufactured Home in a "Resident-Owned Community" near your family for awhile. This is a pretty secure way to inch your way into San Diego RE. You could possibly pay cash for the home and live there while getting a feel for where you would prefer to settle in for the long haul.

In any event we would love to assist you with whatever RE investment you are contiemplating and have some lenders we work with who would be able to assist you with your loan requirements. Please feel free to contact us anytime. 760 815-6977 CELL or emial: onthelevel@cox.net.

Take a few moments to peruse our websites. We are a one-stop, family owned and operated total solution to any of your real estate needs.

http://www.tagrealestate.com
http://www.chadofalltrades.com
http://www.intimatelivinginteriors.com
0 votes Thank Flag Link Mon Apr 2, 2012
Hi John, so glad to hear you've had a great experience when you've visited the UK... I love my country, and it is nice when people have visited and enjoyed it. We will be sad to leave, there will be things we'll miss......... but hey, new exciting challenges is what our family is about. We lived in Houston for several months while my husband was on a project, that was great. We've also lived in Munich for 4 years, so we are all up for a new challenge, and hoping it'll be great, as we have family there, the kids are excited to be with Grandpa & Grandma. We are currently in Majorca having our Easter Holiday, so when we return, we'll be crunching out the numbers and making our plans to revisit soon. Thanks for your time and help for now, Lorna
Flag Tue Apr 3, 2012
Hello Lorna~

I would definitely start with finding a great lender to determine if you qualify for a home mortgage...as several have mentioned, there are loan programs for foreign nationals, and this would be a GREAT way to begin establishing credit in the US. Borrowing with todays rates is such a great way to leverage your cash! Happy to help and to refer you to some of the finest Lenders in San Diego. Let's turn scary into happy tears of joy! Welcome to San Diego!!

Chris Gorno
Windermere Real Estate SoCAL
chrisgorno@gmail.com
(619)788-4345
http://www.chrisgorno.com
DRE# 01499885
0 votes Thank Flag Link Sun Apr 1, 2012
If you would like to live near to your friend and family, I recommend to find a place in 92101(downtown),92108(fashion or mission valley) and 92104(north park).
Thanks.
Song Hasell
Realty experts
Web Reference: http://Sdhomebysong.com
0 votes Thank Flag Link Sat Mar 31, 2012
Thanks Song, I appreciate you getting back to me.

Regards
Lorna
Flag Sat Mar 31, 2012
Lorna
There are programs for foreign nationals. They may require 20-25% down and verifiable income. I can put you in touch with a lender who has programs that can work.
So far as the areas, a lot will depend on your price range. The 92103 area is very nice so is 92110 and 92106. I would be glad to help you find a home that is in your price range and in a good school district. My website has a lot of useful information about schools and you also can search for homes to get an idea of what is available in the areas that you are interested in.

I am never too busy for your referrals

Jerry Heard
Your Broker
The San Diego Property Shop
http://www.TheSanDiegoPropertyShop.com
jerry.sdps@cox.net
Direct 619-920-9796
Office 619-269-5545
Fax 619-269-9168
CA DRE # 00648687
0 votes Thank Flag Link Sat Mar 31, 2012
Thank you for the advice Jerry, your webpage has gone in my favourites box.

Kind regards

Lorna
Flag Sat Mar 31, 2012
Hi Lorna,
There are options for foreign financing, that require at a minimum 50% down. This is a very exciting move for you! My whole family is from Ireland and we love San Diego! 92103 is Mission Hills and Hillcrest and there are lots and lots of areas that would be considered "Close By." Feel free to contact me directly to assist you with your financing and home search.

Thanks!
Sinead McAllister
Broker
McAllister Homes Real Estate
858-205-5215
brokermcallister@gmail.com
0 votes Thank Flag Link Sat Mar 31, 2012
Thank you so much for your advice Sinead, as I wasn't aware of how the foreign financing would work out, so at least we know if we decide on the mortgage route, we would have some cash to play with. As I'm sure you're aware nothing of ours would work over there, so starting again is an understatement.

Kind regards

Lorna
Flag Sat Mar 31, 2012
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