San Diego is a beautiful city where you have plenty of beaches, warm weather and lots of fun. It does live up to its name and is a wonderful place to settle down with your family too. There are good schools, public transportation within short distance and you have easy access to all the basic facilities in all the neighborhoods. The main attraction of San Diego is that you can expect to live in the perfect city lifestyle, the charming rural countryside and the quaint suburban surroundings.
Why San Diego?
If you are planning to buy a home in San Diego and settle down, then now would be the right time to do it because as the months go by the prices are expected to rise. There was a short dip in the prices in January 2014, but they have picked up ever since. The demand for homes in San Diego has really picked up this year. However, you cannot predict how the year would be like by just looking at January because it is just the continuation of the previous year. And because of the holidays, January was a slow month. However, the good news is that homes that are staged properly and priced correctly are being sold quickly. If you are planning to sell this year, then you will probably have to lower the price a bit. And you will also have to ensure that the house is in good condition, with no room for compromises.
San Diego now
You would be happy to hear that during the Jul-Oct period, the median sale price of a home was $465,000. This shows that there was a slight increase in the price from the previous quarter. Some of the sellers are putting their home prices at a slightly higher rate, but if you are intending to buy a home there, you can negotiate and convince them to sell. There are some areas in San Diego where a great deal of renovation is going on and you can expect an abundance of homes to be available for sale. This is going to be irresistible for first-time home buyers.
Even if there is a slight rise in the prices, it doesn’t matter, San Diego is a good place to invest your money. The mortgage rate for a 30 year fixed plan is now at 3.98% and for a 30 year fixed jumbo it is at 4.23%. If you are looking at a 15 year fixed rate, then the mortgage rate is at 3.05% while the 15 year fixed jumbo slightly high at 3.92%. About 24.5% of the buyers in San Diego are cash buyers.