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How to stop paying rent & buy a Santa Clara Condo for same as rent with No or Low down payment?

by Alex Aung on June 14, 2010

in Santa Clara Condos

Santa Clara Condos are popular choices among young home owners & many first time home buyers as rental replacement  or even for investment since Silicon Valley properties are one of the highly sought after & yet one of the most expensive  in united states  & the rest of the world.

Contrary to general real estate norms & rules of thumb, during the real estate boom time  silicon valley’s Santa Clara condos had experienced a higher appreciation growth rate compare to that of area’s single family homes. This phenomena is outrageous  and contradicting to rest of the country real estate market trend.

Part of the reasons being is, that single family home prices in area had risen up so much over the boom years that most entry level home buyers can not afford it and at that time it was better for these home owners to hold on to relatively cheaper & more affordable Santa Clara condos and ride the appreciation to upgrade later.

Fortunately recent  few year’s much welcomed real estate price correction has bring back the current Santa Clara condos value to relatively  affordable range for home renters. At current market of  mid 2010 you can easily purchase a very common 2bed/2bath  $300,000 Santa Clara Condos with net total housing payment of $1700 after tax deduction at current low 4.8%  interest rates.

For long time renters who are currently paying  $1600~$1700 on rent , at current market,  it may makes more sense to own a simple Santa Clara condo knowing in due  time the home is his, regardless of real estate market condition rather than helping pay off  landlord’s investment loan months after months with no gain to show at the end. Decision, of course is more complicated than this depends on your live style & current financial situation etc.

However if you are dreaming of owning a Santa Clara condo know that there are special home buyer programs from government & non-profit organization allowing you to bay a Santa Clara condo  with ZERO to Low down payment. Also Many of the Santa Clara Condos for sale are eligible for $75,000 Government down payment assistance.

We specialize in helping many of the 1st time home buyer own their home with little to No down payment using these special programs. Click here to schedule for obligation “FREE 1-hr custom home buyer consultation“  to figure out whether you can benefit from these special home buyer programs & become a proud home owner safely.

P.S: You can click the link to Search up-to-date & complete Santa Clara condos for sale from ALL Real Estate companies.

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