Category Archives: First Time Home Buyer

Know someone starting college or graduate school in San Diego?

Obtaining a mortgageDo you know someone who will be attending college or graduate school in San Diego? Or perhaps they are starting their first job in San Diego. If so, we would love to discuss why investing in a property, versus renting, for the next few years makes financial sense.

Interest rates continue to be near historic lows, making financing very attractive. Though the San Diego housing market has been hot and prices have been on the rise, there are still many great opportunities to buy condos and townhomes close to San Diego’s campuses for less than $500,000.

In addition, there are a variety of FHA programs to choose from which could be very attractive to Baby Boomers/Empty Nesters looking to help their child get into his/her first home. Many people are under the illusion that they’d have to fork over a 20-25% down payment ($80,000 to $100,000) to help their kid get into a $400,000-$500,000 home—when in fact it can be done for less than $22,000.

Here’s how it works: The young adult goes out with Mom & Dad’s favorite Realtors – Maxine Geller and Eva Meier. They find a 3-bedroom home for under $500,000. Mom and/or Dad help him/her qualify for an FHA mortgage with as little as only 3.5% down. As owner/occupant, they can bring in a couple roommates for $750 each… and enjoy living in his own home for only $1200 a month. And it’ll only cost the parents $22,000 out of pocket.

We have done this with several clients and it is a total win-win! FHA is a sleeping giant that many agents and clients forget about— with interest rates at historic lows there’s never been a better time for Mom and Dad to help their adult children get into a home of their own. Let us know if you or someone you know has someone we can help with their first home.

First time home buyers can find choosing a location to be overwhelming

When you’re ready to buy your first home ever, or your first home in San Diego, location is going to be important. We appreciate that every buyer is unique in what amenities they desire, what they need and want in a neighborhood — and that they have a budget. Having over 30 years of combined experience representing buyers and sellers all over North San Diego County we have a lot of knowledge and expertise about the different towns that make up this great region. For example, though Oceanside, Carlsbad, Encinitas, Cardiff, Solana Beach, Del Mar and La Jolla all offer ocean view real estate options such as condos, townhomes and houses, the cultures of these communities are quite different. The same is true of the different planned communities in areas such as Santaluz, Del Sur and Carmel Valley.

Over the years we have helped countless first time home-buyers, such as Tricia and Andre, and first time San Diego buyers, such as Pam, within every price range – from $300K condos to $7M homes. These clients perfectly describe the experience you can expect working with the Geller-Meier Team:

“Eva and Maxine were wonderful to work with. As first-time home-buyers, the whole process of finding and purchasing a home felt rather overwhelming. Eva and Maxine did a great job of educating us on the process and communicating with us, our lender, and the other parties involved. They stayed on top of all the details and we always trusted they had our best interests in mind. We were really grateful for their help, and we’re so excited about our new home!” – Tricia and Andre

“The ease with which you made it possible for us to move from the east to the west coast was unbelievable. From the start of our first conversation you put me at ease. Generally I am full of questions and found that I had very few. You provided me with kind and thoughtful information on all aspects of the areas that we had an interest in. From Family neighborhoods, school systems, to cultural and last but not least the directions to the closest mall for my 15 yr old. You provided me with the answers before I could form the questions. Your efficient, extremely organized and thoughtful handling of our search for a new home was truly unbelievable.” – Pam

We would love to use our expertise to help you find a San Diego home in a location that’s right for you and within your budget.

For more information on what to consider about location see Zillow’s article First-Time Home Buyer’s Guide to Choosing a Neighborhood