These are today’s most popular words when it comes to buying or selling a home. San Diego was rocked with some of the worst cases of foreclosure filings. So what does this mean for home buyers and home sellers in San Diego, and how does it affect overall real estate prices in downtown, La Jolla, Chula Vista, or any other area in San Diego.
For Home Sellers: This is not the best time. The reason is you are competing with Bank Owned properties that are severely low priced. This brings your “comps” (Comparable Homes Sales) down significantly meaning you will recieve very low offers for your property.
For Home Buyers: There has never been a better time to buy a home in San Diego than this. With a record amount of bank owned foreclosures hitting the real estate market, Home values have been drastically affected. Some home prices have been slashed in half, literally! You can buy properties at 30-50% OFF today fairly easily. With banks competing with other banks, home buyers are grabbing some of the best real estate in San Diego County for record low prices.
Home Values: Let’s remember that before the big housing bubble began, San Diego real estate as well as national home prices have historically gone up 3-8% annually or more in many cities. The housing bubble created a situation where home prices inflated 25% or more in some areas in a year!! Now prices have come down about 40% on average, making up for the artificial inflation and we are back to the curve we would have stayed on without the bubble. So we need to remember that home values will continue to rise, but not like they did 3 years ago. Bubbles Pop and this really devastated many home buyers and sellers.
A Good Investment is one when you Buy LOW and Sell HIGH!! It’s time to BUY LOW!!
San Diego Real Estate Taxe Rates vary frequently but not by much. This info was last updated Dec. 2006.
City Name Tax Rate
City of Carlsbad 1.01846
City of Chula Vista 1.06553
City of Coronado 1.03326
City of Del Mar 1.01383
City of El Cajon 1.09400
City of Encinitas 1.03978
City of Escondido 1.11508
City of Imperial Beach 1.04992
City of La Mesa 1.10825
City of Lemon Grove 1.08362
City of National City 1.05461
City of Oceanside 1.07011
City of Poway 1.06872
City of San Diego 1.10025
City of San Marcos 1.03489
City of Santee 1.06093
City of Solana Beach 1.00470
City of Vista 1.04842
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BUT we can do so much more!
HomeReach.com will not only find you a great and worthy tenant to love in your home, but we will even collect the rents from them, deposit them into our trusted accounts and send you over your checks with our commissions discounted automatically. And you can feel safe knowing there’s someone here to always take your tenant’s calls. We will handle any maintenance, repairs or other issues that arise will you sleep soundly. HomeReach.com will also deal with evictions if the tenant fails to pay on time or breaches the lease agreement. We handle security deposits, extra keys, and most importantly, we defend your asset.
So if you have Real Estate in San Diego that you want to rent out, just contact one of our agents in your zip code and we’ll be happy to help!
We believe “Your Home is Only as Valuable as Your Real Estate Agent!”