There are tons of condos being built downtown and apartment complexes all over town were converted into condos not to mention all of the new housing developments being built everywhere and places sitting on the market for several months at a time.
With all of this surplus housing, how many years do you think it will be until an average chick like me will be able to buy a 1bd/1ba place for a reasonable price out here?
As it stands, the only thing I could afford to buy out here would be a manufactured home but those seem to have more hidden costs than a townhouse or condo would.
2007-09-03 08:06:14 · 3 answers · asked by what's the point 4 in Business & Finance ➔ Renting & Real Estate
a decent 1bd/1ba condo (around 500sq ft) rents for no less than $1300.
2007-09-03 16:12:40 · update #1
Question...What do the condo's rent for? I don't live there and don't know. If they are priced "reasonably" then the rent should cover your payment (principal Interest, taxes and insurance) plus some for maintenance if you bought it.
In some areas the rents don't even cover the interest.
If you are in an area like that then wait.
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I see you have entered your rent amount. Now I guess the other question is how does that compare with what a payment would be if someone bought the condo or apartment with as little down as possible?
What I am asking is, If someone bought the condo would they be able to rent it for more than the Principal, interest, taxes and insurance plus a little for repairs.
If they can rent it for that much then the prices are not out of line. If on the other hand the rent is much lower then I believe the prices are artificially high (or the rents are artificially low) and that will be corrected by adjustments in the market.
2007-09-03 14:06:10 · answer #1 · answered by glenn 7 · 0⤊ 0⤋
somewhat not the place Im residing. basically under 2 weeks in the past gasoline grew to become into 2.89. right this moment I left my homestead to circulate seize dinner in the time of city. once I surpassed the gasoline station gasoline grew to become into 3.thirteen. once I got here returned by to circulate homestead it grew to become into 3.21. there grew to become into no gasoline transport so Im uncertain why this gasoline station likes to hike the fee at random situations. Very complicated. The gasoline expenses will circulate down returned in November at Election time. unhappy yet actual.
2016-12-16 10:23:18 · answer #2 · answered by ? 4 · 0⤊ 0⤋
No. It might drop a little, but San Diego is prime real estate.
2007-09-03 08:36:48 · answer #3 · answered by jdkilp 7 · 1⤊ 0⤋