|
I have been looking for a House/Townhome (Garage is a must have. Yard is nice to have) for a couple of months now, and the market is terrible. Inventory is low, but number of buyers is very high in San Diego. All data shows that there are 3-5 buyers per property.
I've looked at some places that have literally been on the market for 2 HOURS and already had 4-5 pending offers! People either pay all cash, put 20-40% down or bid $20-30K over the asking price. Many properties get offers without anyone coming to even look at them.
Everything in my prices range either 1950's fixer-uppers or has been flipped. Flipped is nice, however, you never know what was really fixed and what was just covered up in order to maximize the profits. Not really sure I want to buy a fixer-upper.
I'm putting my search on hold till at least October-November. Summer is a bad time to buy, because most of the people want to move during summer. Especially families, so they can put their kids in a new school before the start of the school year.
|