There are many reasons why buying a condo in Oceanside might actually be the way to go these days. There is such a low inventory of homes for sale in Oceanside that almost everything is being bid up to the maximum. Especially if the home is not a short sale. Buyers are turned off by short sales because they take such a long time to close. So anything that is not a short sale is definitely going to have multiple offers on it. Usually when a home has multiple offers buyers start bidding more and more and the sale price goes way up. Any bank owned home or traditional sale is in high demand. There is also a low inventory of homes and condos for sale in Oceanside as it is. Although they both have a low inventory level, it is still easier to find a condo than it is a detached house.
There are a lot of reasons why buyers do not look to buy Oceanside condos as much as they do detached homes. One of the huge reasons is that when you buy a condo in Oceanside you usually do not get a yard with it. Another reason is that buyers think that if they buy an Oceanside condominium that they will not be able to have a dog or pets at their home. It is true that you usually do not get your own private yard when you buy a condo but almost every Oceanside condominium complex has many designated grass areas which are just as big as your yard would be in a detached house. There are also many Oceanside condos for sale that do allow all types of pets and dogs. As long as you pick up after your pets when you take them for a walk along the grassy areas in the complex. A bonus to this is that you can use the yard as if it was your own and it is always maintained without you having to mow the grass or pick the weeds or anything. All of the maintenance is included in the Home Owner Association (HOA) fees. There are also usually community pools and recreational rooms in these condominium complexes. Houses also have home owners fees, but they do not take care of your yard for the fee.
There are a good amount of Oceanside condos that are available on the market that are not short sales. This means that you are not going to have to wait for six to nine months just to get a response from the bank. This makes them a lot easier to purchase and makes it so that they can close escrow in a reasonable amount of time. For the same price you can usually find an Oceanside condo with the same square footage as a detached home and the condo will be newer, have a lot more upgrades done to the interior, be located in a more desirable area and will be available for a much better price. Since the inventory for single family homes is so low it is only a matter of time before the same demand starts to hit the condo market. If buyers can recognise this before everyone else does they will have a shot at buying a great home for a great price. A lot of detached homes are having problems appraising also because they are being bid up so high, you will not have this problem with a condo in Oceanside.
There will probably be an increase of inventory in the condo market also in the near future. There are many Oceanside condominium owners who are in the process of losing their homes to the bank. Once these homes hit the market the amount of available properties will be much greater. This will increase the choices that buyers will have to look through. And with so many beautiful Oceanside condos that are in the city there are going to be some really nice buys out there. It is only a matter of time before people start to realize the benefits of owning an Oceanside condominium. The demand for these homes are going to go way up and this will more than likely drive the prices up as well. There is going to be high demand for these Oceanside condos and the buyers who realize this first will not only have their first pick at which home they want to purchase they will also have peace of mind knowing that the property prices will probably increase also. If you want to buy a new home in a beautiful neighborhood with new paint, new tile, new wood flooring, new appliances and for a great price then buying an Oceanside condo is probably the best choice that you can make. It is only a matter of time before the demand goes through the roof.