San Diego Real Estate

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San Diego is one of the most exciting cities in the world! San Diego is California’s second largest city and the seventh largest city in the U.S. Known for its near-idyllic climate and 70 miles of pristine beaches, it’s no wonder that San Diego has a thriving economy and a citywide population of nearly 1.3 million residents with more than 2.8 million residents countywide.

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With many world class attractions and the weather, San Diego has finally attained international status. Residents of this area often refer to San Diego as Americas Finest City. San Diego today is not the same San Diego of the past. As recently as twenty years ago, San Diego was thought of as a small town, a "Navy town". Now one of the most wired cities in the country, San Diego offers more than 70,000 miles of fiber optic cable beneath its streets. Many areas are wired with broadband access and public Wi-Fi hot spots extends the cities advanced communication infrastructure. With the recent building boom and a diverse local economy, (which out-performed most of the country and most of California) during the recent recession, companies and people are now noticing San Diego more than ever, which plays a major role to housing prices.

Most real estate experts expect the market to stay relatively strong and less susceptible to a price drop because so many more buyers can afford newly built units, re sales and apartments converted to condos.

If one expects the economy to continue to improve, they should also expect housing prices to continue to rise.San Diego offers every kind of real estate imaginable from small bungalows to large estates. Home prices range from about $450,000 to over $12 million. Due to current market conditions, the inventory for resale homes continues to be low. There are usually many buyers for each new listing.

What can a buyer do to protect themselves if they are unsure about the market going up or down? 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. Rely on the basics: Don't buy the "nicest house on the block". Buy a property that may be purchased under market value because it may have some cosmetic issues.

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.

To ensure that the region continues to prosper while at the same time protecting its incredible natural resources, the region’s leaders and the public are working together toward a future that offers each resident the highest possible quality of life in one of the most beautiful locations on earth.

It's an exciting time in the local housing 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 the County.

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