Real Estate Topics Forum :: View topic - Buying a condo in San Diego

newbee buyer · Guest

I just moved to San Diego from Texas, and absolutely love the place. However, the rents here are driving me crazy and I am considering whether I should buy a condo instead. Is it a good time to make an investment in buying a condo. The prices of the some of the units I saw have been going down over the last couple of months, which makes me think I would be better off waiting for an year or so. What other factors should I be looking at before making the decision to buy?
Any pointers would help.

nemmar · Site Admin

Anytime is a good time or bad time to buy real estate. It all depends upon the price and terms of the deal. The real estate prices in San Diego and the rest of the USA will be going down according to all indicators due to the explosive growth since 1997. So if you wait the chances are much better that you will find a lower priced condo in San Diego when the prices drop further. That doesn't mean that you can't find a great deal now. It's just going to be harder now since most sellers are not ready to lower their sales prices.