Homes in San Diego, CA are some of the most desirable homes in the United States. Maybe it’s the year round sunshine or the beautiful beaches but being able to own a home in San Diego can be a great luxury. Many of the older communities in the San Diego area have been receiving a complete renovation over the past few years from real estate developers and investors such as Pacific Property Solutions to make some of the older homes in the older communities more desirable and up to speed with the latest energy efficient features and amenities.
San Diego is a unique city in the sense that the characteristic of a community can change from one street to the next. You could be in the trendy neighborhood of north park surrounded by beautiful craftsman bungalow style homes and in the next street be in the Kensington area with stunning Spanish style homes. Each neighborhood has its own unique characteristic and each neighborhood has its go to spot for dining and entertainment. The diversity between each neighborhood is what makes San Diego very unique.
This uniqueness along with perfect weather is what makes San Diego one of the most desirable places to live in the United States and it’s also what drives housing prices up.
Median home prices in the San Diego area have risen to near $500,000, an increase of 3.1% over the last year but staggering 39% increase over the last 5 years.
Although price increases certainly help homeowners, especially those that went underwater, the unfortunate scenario is that income levels have not been rising enough to keep pace with the rise in housing prices. This situation leaves potential new homebuyers with very limited options in getting into the housing market.
So if you’re trying to get your foot in the door here a few options to consider:
These are a few a options to consider if you are trying to buy a home in San Diego but have had no luck so far. Always weigh all the possibilities and options you have and most importantly don’t give up!
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