The question that asked is very broad and almost impossible to answer. The question falls back to you because it just all depends on your full scenario.
If this is an area that you like, then great. If the properties that you're looking at make sense for you financially and you can qualify for a loan - weigh your options and do your pros and cons. If there are as many properties on the market as you say; you definitely want to speak to an agent that is knowledgable in the area to give you a better idea of market trending ( moving UP or DOWN).
With HOA fees, in most cases, are not deductable ( please confirm with your tax profesional ) because of the owner occupied situation. So you have to examine the overall costs on a monthly basis and make sure your debt ratios are in line with the banks qualifications or better yet your own.
When calculating your overall debt and payements and interest rates, please be sure to talk to a real estate professional or tax professional that understands NATR and NATP ( Net After Tax Rate and Net After Tax Payments) you will be totally surprised of the end of year actual costs of hoeownership ( in a very good way)
Prudential California Realty
Pacific Design Center- West Hollywood
8687 Melrose Avenue, Suite G271
West Hollywood, CA 90069
323 466 5358 Offc.
213 804 4245 Mobile
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