Coronado Real Estate

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Coronado is actually a peninsula, connected to mainland San Diego by the Silver Strand -- a narrow stretch of beach and highway bordered by the Pacific Ocean and San Diego Bay.

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In 1886 news leaked of a proposed hotel on Coronado to the local newspapers and this caused a great deal of excitement in the community. With the increased publicity surrounding this grand venture came new interest in planning development of the peninsula. Thus on November 13, 1886 the Coronado Beach Co. held an auction for the sale of lots ranging in price from $500.00 to $1600.00. By the end of the day, the Beach Company had sold 350 lots for a total of $110,000.00.

Today Coronado is one of the most exclusive areas in America. Homes range in value from about $650,000 to many millions of dollars. Due to current market conditions, the inventory of Coronado homes continues to be low. While a leveling off in appreciating property values is being reported for some areas of Southern California and even San Diego, many communities directly along the coast are still appreciating.

Purchasing Coronado real estate either as a residence or as an investment may be one of the most important investment decisions you will ever make. When purchased and managed properly, real estate can be one of the safest and most profitable investment available to the average person today. In general, the most important considerations are:

1) Know the market...what is happening in the area and economy
2) Know how to analyze a property
3) Know your limits (dollar and risk wise)

Many people ask how they can be confident they are paying a fair price for a property. A home is worth what someone will pay for it. Everything else is an estimate of value. To determine a property's value, most people turn to either an appraisal or a comparative market analysis. An appraisal is a certified appraiser's estimate amenities, energy efficiency, the quality of the of the value of a home at a given point in time. To make their determination, appraisers consider square footage, construction quality, design, floor plan, neighborhood and availability of transportation, shopping and schools. Appraisers also take lot size, topography, view and landscaping into account. A comparative market analysis is an informal estimate of market value, based on comparable sales in the neighborhood, performed by a real estate agent or broker. You can do your own cost comparison by looking up recent sales of comparable properties in public records. These records are available at local recorder's or assessor's offices, through private companies or on the Internet.

A hedge against the risk of the rate of appreciation changing may be to purchase property under market value because a particular property may have some cosmetic issues. Any increase in home value depends upon the same factors: quality of the neighborhood, growth in the local housing market (very local) and the state of the overall economy.

It's an exciting time in the San Diego real estate market. With a reputation for integrity and service since 1914, The Willis Allen Company would welcome the opportunity to help you find the home of your dreams. For further information, please call us at 858.459.4033. Our knowledgeable and professional team of sales associates are supported from six strategically located branch offices throughout San Diego County.

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