Buying a condo in Golden Hill

Asked by First Last, San Diego, CA Mon Dec 31, 2012

Hi, I'm moving to San Diego in a month or so. I decided to buy a condo in Golden Hill, obviously I picked that area because it's the only one that seems affordable for the location where I would like to be (City proximity).I know the smart thing to do would be to rent first, I have considered that, but if I rent I would want to live in a more desirable area and the rent would be $1400 . That’s why I thought of buying in Golden Hill. My budget is around $160k, I already got preapproved for that amount and was told it can be increased if needed. I know that budget is very low for San Diego, but I’ve seen some options for lower than that. I don’t have high expectations, but I definitely know what I want, and I know I don’t want a studio apartment, although a small 1 bedroom is ok. I’m here hoping to find a broker that has experience working with out of state clients. Also any thoughts of the whole thing (buying before moving there) would be appreciated. I want to get the ball rolling asap

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21
Rene' De Bla…, , San Diego, CA
Wed Jan 16, 2013
I lived briefly in Golden Hill when I first moved to San Diego a year ago. It is central to everything and I think it is going to be an even hotter part of town in 5 years.
0 votes
Wesley Guest, Agent, San Diego, CA
Mon Jan 14, 2013
Golden Hill is great option for your price range. It has a smaller "neighborhood" feel but is incredibly close to downtown and the city. Although renting first is absolutely not a bad idea, the market is currently trending upward and the decision you face is to "be in the market" or or rent and "be on the sidelines". Keep in mind, markets can change and they can change quickly so make the decision you are the most comfortable with.

If you decide a purchase is the way to go, please consider my services and home purchase approach. I have a lot of experience in the area, example: I represented the buyer and closed a sale at 1233 22nd St, San Diego, CA 92102 last month in Sherman Heights (next to Golden Hill). I also have a great solution and strategy well suited for out-of-state buyers. My client, whom resides in Oklahoma, was very satisfied with my strategy and the end results (see my recommendation on my profile from "Jess").

I wish you all the best. San Diego is a fantastic location and you will not be disappointed in your decision to move west!

Cheers,

Wesley Guest
619.379.7675
info@wesleyguest.com
CA DRE LIC #01855519
Web Reference:  http://www.wesleyguest.com
0 votes
Joseph Arend…, Agent, Encinitas, CA
Fri Jan 11, 2013
Hi,
It definitely sounds like you have some great answers below and I would agree with most. Now when it comes to buying before moving out here, we here at The Arendsen Group have a lot of experience working with out of town or even out of country buyers. One method we use is YouTube where we will actually take a video of the property for you and upload it to our YouTube channel. You can see some of our previous work here: http://www.youtube.com/ArendsenGroup

If this sounds like a viable option for you please feel free to contact me.
Joseph Arendsen
The Arendsen Group
Real Estate Sales & Investments
888-503-3117
0 votes
Mark, Both Buyer And Seller, USA, Mobile, AL
Mon Jan 7, 2013
Home prices are on the rise in San Diego, and will continue to increase as sales numbers go up. The sooner you buy, the more likely it is that you'll get a deal on a home. Either way, owning real estate in this part of the country is wise investment, both for the immediate future and down the road!
You can get the homes in the San Diego there are some property which are of my grand mother and i want to sell it and can make the dream of yours true by providing you the home you can contact me.
Calgary Realtors:http://www.calgarypropertypros.ca/calgary-real-estate/
I can come for you there only.
0 votes
opondomusa, , 10020
Wed Jan 2, 2013
Like many other metropolitan areas, San Diego has seen an increase in home sales in recent months. Buyers looking for warm weather, sunny beaches, and low mortgage rates have been attracted to this paradise by the sea.
Home prices are on the rise in San Diego, and will continue to increase as sales numbers go up. The sooner you buy, the more likely it is that you'll get a deal on a home. Either way, owning real estate in this part of the country is wise investment, both for the immediate future and down the road!

You can browse our website: http://www.realtypin.com/homes/san-diego_california for homes for sale and to find Realtors in San Diego
0 votes
Neil Fjelles…, Other Pro, San Diego, CA
Mon Dec 31, 2012
Good choice. Here's a realtor you can trust as a newcomer to San Diego. He has the resources and the patience to work with a first-time buyer and dependable for results and/or straight talk. Good luck. If you get this done for now and later want to convert your condo into a rental FBS can help you set a rent rate, identify physical items that will increase value, and in all ways become a successful rental owner and real estate investor. Here is Tom's contact info. Let him know where you got his name - Thomas J. Nelson REALTOR® e-Pro,CDPE,CNAS,CRS-Ninja,RELO DRE# 01261476 since 1999
mobile: 858-232-8722 / e-fax: 650-240-0717 / http://www.ThomasJNelsonRealtor.com
0 votes
Maria Claudia…, Agent, San Diego, CA
Mon Dec 31, 2012
There are other safe areas, still close to downtown, and at your price range for large 1 bedroom condos and decent HOA.
where will you be working? commuting may make a difference and should play an important role in your location.
0 votes
Jerry Heard, Agent, San Diego, CA
Mon Dec 31, 2012
As Sinead said the ones you referenced are in Contingent status. That is the problem with many websites that are not directly related to the local MLS. My website show homes that are actively on the market and ready to accept offers. Please feel free to use it. I do not require that you register to use it. I offer it as a tool for home shoppers.
There are many more homes available in your price range if you do not limit yourself to the Golden Hill area. I think several of them may offer the convenience and amenities that you are looking for.
0 votes
Sinead McAll…, Agent, Oceanside, CA
Mon Dec 31, 2012
Hi Again,
You asked "Is there something I'm missing?" It sounds like you have done as much research as someone can do. The only thing you are missing is representation by a buyer's broker. We can look at all of the homes on the MLS, find out additional information that is marked as confidential to the general public and advocate for you with regard to writing an offer and negotiating a deal to purchase. I can tell you if a condo is FHA approved and help you navigate neighborhoods to find one that you feel comfortable in. Both of the homes that you have attached to your response are marked as "contingent." Contingent means that they are short sales where the seller has accepted an offer and is just waiting on the bank to approve it. You want to look at homes that are marked "active." Call me or message me directly and we can get started ASAP on finding you the perfect home.

Thanks!
Sinead McAllister
Broker
McAllister Homes Real Estate
858-205-5215
brokermcallister@gmail.com
http://www.McAllisterHomes.com
0 votes
It completely makes sense. Well, I would happy to assist. You can call me or email me directly at brokermcallister@gmail.com and we can get started at looking at some homes that you may be interested in.
Flag Mon Dec 31, 2012
Thank you, Sinead. I didn't pay attention to that. I'm aware of my need of a broker, that's why I decided to post here and hopefully find one that we can work together. I do have a friend who is a broker in SD but I did not want the personal relationship to interfere with business, if that makes sense.
Flag Mon Dec 31, 2012
Michael Alex, Agent, San Diego, CA
Mon Dec 31, 2012
Hello,

I would recommend renting before buying. I can find you a rental with a short lease with low monthly rental payment. Inventory is low, you will be competing with all cash buyers in your price range and waiting on short sales. With your price range you can purchase more than a studio or a one bedroom. I just closed a 2 bedroom, 2 bath condo in Golden Hill for $170,000.00, the MLS# is 120026326. Other than wanting to live in near the city what else is important to you? Do you want a one story or two stories? Do you want to be walking distance to restaurants, etc.?What is important to you regarding the floor plan. Do you want a place move in ready or to fix yourself? Do you want to be walking distance to Morley Field? Do you have any animals? What kind of loan have you been pre- approved for? These are just a few questions I would need to help you find the perfect place. If you need assistance in Golden Hill or other locations, feel free to contact me anytime.


Michael Alex
Real Estate Consultant
“The Trustworthy Choice in Real Estate”
cell. 619.581.9348
email. AskMichaelAlex@gmail.com
Pacific Sotheby's International Realty
San Diego,CA
0 votes
Thank you Michael. To answer your questions, I do want to be walking distance to restaurants, of course 2 stories is better than one if I can get that with my budget, floor plan really does not bother me, I lived in NYC for 16 years, so my expectation are low. I want to have my own parking, port or a garage does not really matter, I have no pets but I might consider getting a dog, so pets have to be allowed. I have a pretty good score 760+, I got the preapproval from my bank (chase) I know I can get some competitive rates/lenders with my credit score. I applied for FHA just because of a low down payment. I also should mention that I work from home so commute is not an issue but I want to be in San Diego city not county.
Flag Mon Dec 31, 2012
First Last, Home Buyer, San Diego, CA
Mon Dec 31, 2012
Thank you all for your reply. First I thought it was impossible to find a condo in a decent area in SD for that price and when I looked up SDlookup.com, I actually found many options, some of them I really like, even in the part of Golden Hill that I want to stay in which is North Broadway and west 32nd street (approximately). Is that not a legitimate website for the search? I found few also listed in in Trulia. I'm posting below are 2 examples of properties I would be very interested in. I know there are completely 2 different ones but I will be happy in either one. I know there is the question of owner occupancy ratio and if the condominium is FHA approved, which it will have to be on a case by case basis. Is there something I'm missing? And to answer some of the questions here, I'm not only interested in Golden Hill, but that's the only area that I find affordable and central. I am looking to do this asap, my lease is up where I am and I'm doing month to month rent, and I would really like to move in to my own home not rental. My only criteria is safety (I'm a single female) and ready to move in.
http://www.sdlookup.com/MLS-120055032-2852_C_St_9_San_Diego_…
http://www.sdlookup.com/MLS-120017135-3029_Broadway_12_San_D…
0 votes
As Sinead said, you should start to work with a buyer's agent so you are in a position to pounce on a property that you like! Things are moving quickly, and internet sites don't keep up an accurate representation of the market as working with an agent will provide. Choose an agent you feel comfortable with and then get the ball rolling! Happy New Years!
Flag Mon Dec 31, 2012
Hi Again,
You asked "Is there something I'm missing?" It sounds like you have done as much research as someone can do. The only thing you are missing is representation by a buyer's broker. We can look at all of the homes on the MLS, find out additional information that is marked as confidential to the general public and advocate for you with regard to writing an offer and negotiating a deal to purchase. I can tell you if a condo is FHA approved and help you navigate neighborhoods to find one that you feel comfortable in. Both of the homes that you have attached to your response are marked as "contingent." Contingent means that they are short sales where the seller has accepted an offer and is just waiting on the bank to approve it. You want to look at homes that are marked "active." Call me or message me directly and we can get started ASAP on finding you the perfect home.

Thanks!
Sinead McAllister
Broker
McAllister Homes Real Estate
858-205-5215
brokermcallister@gmail.com
Flag Mon Dec 31, 2012
Michael Urla…, Agent, Del Mar, CA
Mon Dec 31, 2012
Great job in getting pre-approved before shopping. It sounds like you have been doing your research. Please let me know if I can assist you with your buying or leasing needs.

Mike Urlacher
858-207-7583
0 votes
Royce Kemp, Agent, San Diego, CA
Mon Dec 31, 2012
Hi,

You've done your homework! Golden Hill is a great place to get "in the game" at an affordable price. The timing night not be great, as inventory is incredibly low, definitely a seller's market. In Golden Hill there is ONLY ONE property within your budget, in fact, there's only one property under 250K, but it's at $130K. Google MLS: 120062015 If that's something you might be interested, we can get the ball rolling.

Since inventory is so low, I'd plan to move into a rental, on a month-to-month lease, and we can keep an eye on the market. Hopefully as the spring rolls around we'll start to see a lot more inventory come to market and get you in a new home sooner than later before interest rates move higher and steal some of your buying power!

Happy New Year!

Royce Kemp
Premiere Properties
858-480-5570
0 votes
Jerry Heard, Agent, San Diego, CA
Mon Dec 31, 2012
Hello
The Golden Hill area, including South Park, is a very nice area. However as you mentioned your price range will limit the options available for you. Today I only found one condo under $160,000. It is a 1 bedroom 1 bath 628 sq.ft. condo for $130,000. Judging by the pictures available it looks very nice.
You can look at it on my website it is MLS #120062015 . Yo can also look at other homes while you are on my site.
I would be glad to help you find a home. However I really think you should try to see the home before you purchase it. If that is not a possibility I can help with the process.
Let me know if I can help you.

Local Help with Your Real Estate Needs

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
Kaye Hopkins, Agent, San Diego, CA
Mon Dec 31, 2012
I've helped many buyers moving to San Diego with both temp rentals and/or buying. Recently I worked with a client moving here from the east coast who also decided that Golden Hill would be a good place to focus ... he, like you, did not have very high expectations given his budget but is extremely happy with the spacious view condo we found ... I'd be happy to work with you to find a similar home that you'd also be very happy to own. I'm aware of another unit nearby that just came on the market that might be worth checking out ... as well, I'll also preview any condos of interest so that you can have peace of mind and a smooth transition .... please contact me directly to discuss further the special services I provide my out-of-state clients.

Kind regards,

Kaye L. Hopkins, Realtor DRE# 01397372
 Accredited Home-Staging Specialist [AHS]
 Certified Negotiation Expert [CNE]
McFadden Real Estate Services
 2307 Fenton Parkway, #77
 San Diego, CA 92108

 858-220-3110 [cellular]
 email: KLHIntl@aol.com
http://klhrealestate.com
0 votes
Maria Claudia…, Agent, San Diego, CA
Mon Dec 31, 2012
Hello and welcome to San Diego.
I used to live in Golden Hill for many years and absolutely loved it.
The proximity with Down Town is very attractive and the neighborhood still has a very "cozy" feeling with lots of "mom & pop" eateries and an overall "small neighborhood" feeling that is not necessarily present in many other areas. You are also very close to other areas that are just as interesting: Hillcrest, North Park, Normal Heights and obviously Balboa Park.
You seem to know exactly what you are looking for, you have figured out your budget and, most importantly for a buyer, you had a chat with the lender to figure out what you can spend on your purchase.
The supply is certainly lower than the actual demand in San Diego, however you are making the right steps to possibly present a strong offer to any seller and seller's agent.

Please connect with me personally should you choose to move forward in your search.

Good luck and happy 2013!!
0 votes
Cindy Davis, Agent, San Diego, CA
Mon Dec 31, 2012
Good morning,

I would definitely rent first. Inventory here is extremely low and there are multiple offers for every all homes in your price range. Just because you are pre-approved (a good move) doesn't mean you will get the deal you want. Inventory in this price range often goes to investors who are buying cash.

It just isn't going to be as easy as all that, so please get yourself a place to live.

Golden Hill does have a few condos in your price range - there are other areas I might consider as well. Things you might also encounter are issues of low owner occupancy and condo litigation.

I work the central neighborhoods every day and would be glad to assist you directly. Feel free to call me.

Cindy Davis 619-379-8616
0 votes
fiel barrow, Agent, San Diego, CA
Mon Dec 31, 2012
Hi First Last,
I would be happy to help with your real estate needs. Please call or email me at your earliest convenience so I can get some additional information and give you more details on my experience.

Thank You
Fiel Barrow
619-253-4607
fielbarrow@gmail.com
0 votes
Sinead McAll…, Agent, Oceanside, CA
Mon Dec 31, 2012
Hi First Last,
I think the question of buying before moving here depends on how many times you have been to San Diego, etc. I have helped many clients relocate here from other areas, when they had never lived in San Diego before. I am seeing 5 homes that fit what you state you are looking for. Feel free to contact me directly and we can go check them out and discuss further.

Thanks!
Sinead McAllister
Broker
McAllister Homes Real Estate
858-205-5215
brokermcallister@gmail.com
http://www.McAllisterHomes.com
0 votes
Djean Becker…, Agent, imperial beach, CA
Mon Dec 31, 2012
What do you have to have for this to work for you? Do you have to be in Golden HIll? what other criteria is critical to you. How soon do you arrive here and how quickly do you need to find a place? I would love to help you if you still need a Broker/Realtor. DJean Becker Osborne Socal Real Investments http://www.SCRICA.com 619-303-5968. SCRI@cox.net. Let me know if I can help. And... Happy New Year!!! :)
0 votes
Daniel Di Ma…, Agent, Chula Vista, CA
Mon Dec 31, 2012
Hi,
I'm so glad you are choosing to rent over buying. I honestly can't stand the thought of renting when you do the math. I'd love to get you going with your purchase and have helped many clients out of state. I can do most if not all of the details via email including contracts which can be securely signed electronically as well.
Feel free to give me a call so we can discuss it further.
Sincerely,
Daniel Di Matteo
CENTURY 21 Award
619-512-0006
0 votes
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