Homes In San Diego, CA

Homes In San Diego, CA


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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:

  •  Consider buying in up and coming neighborhoods
    • There are a few communities throughout san diego that are receiving complete makeovers. Communities such as City Heights and Barrio Logan in a few years are going to be completely unrecognizable with all the latest developments taking place and with prices still low in those area the upside is tremendous.
  • Moving Inland
    • The further away you get from the beach the lower the housing prices you will typically find. You can also find homes with big square footage at lower prices so the price you pay per square foot is also less. However, there is a tradeoff with your commute to work being a little longer depending where you work.
  • Acquire Properties For Cash Flow First
    • If you can’t find the house that you want at the right price don’t throw your arms up and give up just yet. Consider buying a rental property, obtain great positive cash flow, and let the house build its own equity. Real Estate in the long term tends to appreciate in value, after a few years of obtaining equity, sell or refinance, and then move into your ideal house.
  • Lease with an option to buy
    • Maybe you found a house that you really like but unfortunately the bank wont give you the finance you need until you clean your credit a little bit. Make an offer to the seller to lease the house for a certain time (2-3 years is average) with an option to buy the house at the end of the lease. This can be a great option to get your foot in the door on a property you really like and get a great feel for it without the long-term commitment.

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!

If you are interested in viewing some of the properties we have and receiving updates on when they are completed before they hit the market, please put in your information on the box in the right.

 

 

 

 

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