Let ocean breezes keep you cool all summer
Ready to buy your first home in the San Diego area?
Now may be the best time to buy: Interest rates AND real-estate prices are low
In an auction, the buyer sets the price
Almost all the condos are fully furnished
Buy a fully warrantied new condo, not an "as is" home in foreclosure.
Are you an investor? Generate a positive cash flow in your first year of investing in a condo
Want to live near a community college? Live across the street from Southwestern College.
Save on gas! Live a ten-minute walk from the San Diego trolley
To acquire a new home at Bayview Tower, take these steps:
Download the auction brochure.
Pick the condo, furnishings, decor and starting bid that are right for you
Get ready for the condo auction on May 17, 2008.
Come to the condo auction at the San Diego Marriott Mission Valley at 12:00 noon on May 17, 2008.
Auction site: San Diego Marriott Mission Valley, May 17, 2008
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Now may be the best time to buy a new home: Interest rates AND real-estate prices are low
With the credit crisis still unfolding, you may think that mortgages are hard to get and that interest rates are high. That is not the case!
Mortgages are harder to get than they were a year ago. Mortgages for 100% of the value of a property are hard to get.
To obtain a mortgage now, you must have verifiable income. Depending on your credit score and income, the preferred lenders for the Bayview Towers condo auction can get you a mortgage for more than 90% of the purchase price of a condo.
Interest rates on mortgages are still at or near record lows. If you qualify for a loan, the preferred lenders for the Bayview Towers condo auction most likely can get you a 30-year mortgage at an interest rate somewhere between 5% and 6%.
If you are planning on keeping the condo for only a few years and then either selling or re-financing, the preferred lenders for the Bayview Towers condo auction can get you an adjustable-rate mortgage with an even lower rate for the first five years.
In most previous years, either interest rates were high or home prices were high. Either way, you could be priced out of the market. In the real-estate bubble that just ended, low interest rates fueled high home prices.
If you believe that the best time to buy a home is when home prices are low AND interest rates are low, then NOW is the time to buy.
Even with interest rates generally low, they are volatile. They could go higher at any time.
To meet the preferred lenders for the Bayview Towers condo auction, to prequalify for financing and to find out how much your can afford to bid in the condo auction, click here.
Southern California Coastal Condo Auction Saturday, May 17, 2008.
Open House Hours| Monday: | 12:00 noon | - 6:00 pm |
| Tues - Sun: | 10:00 am | - 6:00 pm |
Bayview Tower
801 National City Boulevard
Corner National City Boulevard and East 8th Street
Phone (619) 399-3885
Email bayviewrep@coastalcondoauction.com
Almost all units to be auctioned are fully furnished.
