Whether you're selling a home or are looking at San Diego homes for sale, you may have noticed that San Diego home prices have increased over the past year. The increase in sales price is one benchmark used when determining the overall health of a specific real estate market. Whether you are a buyer or a seller, it is imperative that you understand where the market is at currently and where it appears to be heading before you list your home for sale or begin searching for a home to purchase.
You've heard about the importance of curb appeal when selling your home, yet if your outdoor space is looking a little overgrown or a big barren, what can you do? Even if it looks neat and tidy, what can you do to improve your chances of selling your home? San Diego home sellers can maximize their home's appeal with a little attention to their yards.
Help for a Barren Yard
Are you thinking of buying a home in San Diego? Like many other San Diego homebuyers, you might be concerned with having enough for a down payment. As you consider your options for mortgages, you will probably find out that mortgage lenders require that you pay at least 20% of the appraised home value at the time of your home purchase. So if this is the year that you decide to buy a home, it's time to consider whether or not you actually have enough to pay for your down payment. For those San Diego homebuyers who are short on cash, stay optimistic!
Are you considering moving to San Diego? One of the first choices you will need to make is what type of home you will want to live in. in San Diego, you have the option of buying a house or condo or renting. Buying a single family house in San Diego carries a number of advantages
Advantages of Buying Your Home v. Renting
When shopping for a home in San Diego, you need to make the choice between San Diego condos and single-family homes. Often, the decision is not easy. Each housing option has its own benefits and drawbacks that must be considered. Before you make your final choice, give these considerations some thought.
Benefits of Buying a Condo
Searching for a San Diego waterfront property? Living by the water in this city comes with a high price tag, but with it also comes outstanding benefits. You'll wake up to white sand coastlines, fabulous weather, and plenty of amenities to keep you busy. As you compare the options in San Diego real estate, take a close look at upscale neighborhood Point Loma Heights (not to be mistaken for the general region of Point Loma). What you may not realize is that this area has something special to offer.
Living in Point Loma
The San Diego real estate market is seeing some interesting changes this year. If you're in the market for a home in this area or are looking to list your current home, understanding the current San Diego home price trends will help you make an informed purchase or selling decision. It will also put you in the best position to negotiate a fair market price for the home you’re considering.
San Diego Real Estate Market Trends Favoring Sellers
Home mortgage prices are on the rise. It has been reported that the average price of a thirty-year fixed mortgage for those with excellent credit and a 20 percent down payment is currently 4.55 percent. That's up from an average of 3.41 percent just a year ago. Clearly, home mortgage rates are creeping upward.
Owning downtown San Diego real estate can be expensive. As in many big cities, affordable housing choices are often limited to condos, apartments or townhomes. However, many buyers, especially singles, are willing to live in the city so that they are closer to work, restaurants and nightlife. What's more, living and working downtown helps to save on the time and gasoline necessary to commute from the suburbs. If you are thinking about looking for downtown San Diego real estate, here are some tips for finding property in the downtown area priced at $500k or less:
Housing prices in San Diego in May of this year has increased a dramatic 22% percent over May 2012, according to ZipRealty's Housing Trends Report. This is, in part, due to the shrinking inventory of existing homes in the area. With a reported total of 4,082 listings on the market, San Diego saw a decrease of 51% in housing inventory over the past year! Although there are some warnings of However, there is still San Diego real estate available to match your budget if you know where to look.
San Diego homes for $200,000 to $300,000