Help deciding to rent or buy in Noe Valley?

Asked by Katie Wickham, Lodi, CA Wed Jul 18, 2007

What should the considerations be? Any recommendations for now vs. future? Thinking about a 2 bedroom condo or TIC property...

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Teresa Grobecker’s answer
Teresa Grobe…, Agent, San Francisco, CA
Fri Sep 28, 2012
As I'm sure you've seen, rents are sky-high right now. If you have some cash to put down, buying could be a very savvy investment right now. Not all loans require a 20% down payment. If you're a first time home buyer there are loans that require a lot less. Also, if your needs change in the future, you can always rent out your property. San Francisco is a great rental market from landlords. This has been my family's strategy for quite some time so I walk the talk, so to speak. These properties can be a great investment for your retirement plans as well to generate long-term cash flow.
I provide some great calculators on my website. Here's the one for mortgages:

If you need assistance with finding decent neighborhoods and investments in SF I'm always happy to help. I'm a chartered retirement planning counselor and also a short sale/reo specialist.

Happy house hunting and best of luck! :)
0 votes
Elizabeth, Home Buyer, Napa, CA
Wed Jul 18, 2007
I have never seen Noe Valley go down in value. S.F. is such a strong market. If you have the opportunity to buy, the morgage rates work for you, then buy. You won't lose your money depending on how long you are willing to hang on to this property and the type of loan product you are going to use. Gets a bit trickier if you are going to use a neg. am., other than that, buy, buy, buy.
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Renter, , San Francisco County, CA
Thu Jan 7, 2010
come on now katie, When have you ever heard a realtard agent say it was not a great time to buy?

We haven't seen all the alt arm resets yet. how many will reset in 2010, in noe valley? How many foreclosures around the corner? If you are thinking of condo -tic beware Tics are DEAD MEAT and condos come with hoa fees that can jack up at anytime. SF is overpriced. Wait a couple of years and save your money. You'll then be able to buy more for less....Mark my words. Also, for more background on why it is not a goodtime to buy in the bay area, check out

Agents only have one thing in their hearts ... the commission! whether you sink or swim is no concern of the realtard class..
1 vote
Tomas Janik, , 94127
Sat Feb 6, 2010
Hi Katie,
it all depends how financially stable you are, and if you feel comfortable with mortgage payments.
DID YOU GET Pre-approved already? Knowing you numbers is a key factor.

Most likely we are stabialized, and price will be stable for a while, however low interest rate, Tax credit $8000, tax deductions, homeowner exemptions, and building equity are safe bet that you would make a wise decision.

Not only as Realtor I would say Yes to buy, if you have your funds together and would qualify for decent rate. but YOU DONT want to be pushed to last dollar and be frustrated with high payments, therefore honest evaluation of you own finance situation is best measurement.

The Benefits are obvious to buy if you want to move forward. But being comfortable with payment and HOA dues is another thing.

FIRST I would recommend to check with mortgage broker how much you can be approved for to get an idea, and take it from there...its free, without commitment and without affecting your credit score.

Please feel free to ask me if you have any other q., We also do 20% INCENTIVES from commission this spring, yup I need to mention that.:)

0 votes
Rhanda Salma, Agent, San Francisco, CA
Wed Jan 6, 2010
Hi Katie,

Happy New Year. There are a lot of factors to consider in whether it is the right time to buy or rent in San Francisco. The first and foremost would be job & financial security. If this is set, the next factor to consider is your objective. What do you want this property to do for you? Are you planning to reside in the unit for a longer period of time? Can you grow into or will you need to move as life progresses - marriage, baby, new business, etc.

If you honestly feel that this is set for you - I would highly consider getting into the market. If you can afford the payment and you qualify for traditional financing, you should begin to seriously weight your options.

Let me know if I can be of assistance.
Rhanda Salma
0 votes
Fri Aug 14, 2009
Sounds like you're a first time homebuyer. You should buy something and get the wheels moving.
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Rob, , 94109
Wed Aug 5, 2009
Hi Katie - I agree with both of these answers, very insightful comments. Noe Valley seems to keep its value well but past performance is not necessary indicative of future performance. And as Artur says, a big factor in buying is how long you plan to be in the home.

Also, Trulia has a rent vs buy calculator for you to play around with and run the numbers behind different scenrios.
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Artur Urbans…, Agent, Burlingame, CA
Wed Jul 18, 2007
Hi Kate,
TIC offers you significantly lower price (24-30%) than a condo. It major drawback was a difficulty to sell. Now with fractional TIC loans it is not an issue. The reason clients buy TIC properties are twofold: 1. TIC property are more affordable, 2. There might be an upward surge in its value, if TIC is converted to a condo. This is, however, far from certain. You have to enter a lottery every year (as the number of condo conversion permits is limited) and you might never win. You might want to check the statistics on what the odds of this ever happening are. The key in your decision making should be the amount of time you might want to keep this property. What will you do next? Buy a house and rent out or sell your condo or TIC. In other words, have a plan - the right decision will jump at you. The rule of thumb, longer you plan to stay, better TIC looks. Good Luck!
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