San Diego is a city of neighborhoods. From the village of La Jolla, the beach communities of Mission Beach, Encinitas, and Oceanside, to the Gaslamp and Hillcrest areas, each has its own character but share the same great Mediterranean weather.
Hills often separate different areas of San Diego, and impart a distinct small town feel to the area, even though San Diego is the 2nd largest city in California and the 8th largest city in the United States. This is why people often refer to San Diego as “America’s Largest Small Town.”
It’s a great place to live, which makes it a great place to invest. The great weather (similar to the French Riviera) and relaxed lifestyle fuel high demand for housing because everyone wants to live and work here. San Diego’s geography also means that many properties have unique features or locations, which help increase and retain their value.
It’s also a great place to work, with a strong employment base. Like much of coastal California, San Diego has a high population of educated professionals, entrepreneurs, and engineers. It’s home to many tech companies, research hospitals, as well as a few military bases and some of the best colleges and universities in the world.
San Diego is a premier biotech center in the United States.
San Diego is a premier biotech center in the United States and is also home to the Salk Institute, Scripps, and Thornton Hospital at UCSD to name a few. A physician client of mine recently told me for every physician job opening in San Diego, there are 100 applicants because demand to live here is so high. As you might guess by now, San Diego has great medical care.
Amid all the bubble theories, San Diego real estate remains strong, especially west of I-5. Everyone wants to live and work here, and market forces cannot take away San Diego’s temperate weather, beautiful geography, and unique neighborhoods. San Diego truly has something for everyone. In the early to mid 90’s many people decided to move to Arizona, Oregon and Washington. Most of them moved back within five years.
Downtown San Diego has seen a burst of activity in the past decade. Driving down I-5 last year, I counted 11 construction cranes. This area has the Gaslamp Quarter, the new ball park, restaurants, shops and entertainment. Many people now want to live/work downtown. Demographics reflect downtown residents are a mixture of all age groups and professions.
Are a diverse group in San Diego. Ocean Beach is reminiscent of the 60’s, Mission beach with its 2 mile boardwalk, Del Mar world famous for its race track, Encinitas, Leucadia for families and equestrians.
We place a high value on waterfront properties. A recent study by National Association of Home Builders determined that a single factor overwhelmingly determined real estate values across the world: distance to a body of water. Waterfront properties have a high intrinsic value, and limited supply, and San Diego is home a number of great beach communities.
Is one of the most expensive neighborhoods in the United States. Home to Stephen Birch Aquarium, Scripps Research Institute, Salk Institute, Burnham Cancer Institute the area has attracted over 500 biotech companies employing over 30,000 people.
Is also home to a large percentage of Fortune 500’s wealthiest people.
This area comprises inland areas of Poway, Ramona, Escondido, Vista – these areas have all added to their employment base with new industrial parks. Poway is widely known for its award winning school district. North County is a great place to live/work with your family.
Inventory increased in all categories, including new inventory. Pendings were almost identical to March with the exception of multi-family.
Inventory increased in all categories, including new inventory. Pendings declined slightly.
Inventory remained the same, sales increased slightly and the rate of new listings coming on the market slowed substantially.
From what I am observing, it appears banks are becoming more aggressive in pricing their foreclosed properties at low prices to generate a more rapid sale.
ALL areas improved this month!!! Traditionally December is a slow month for real estate activity.
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Jeannie Niles Real Estate Investment
P.O. Box 317
Palm Desert, CA 92261
P: (760) 360-4020
F: (760) 340-9069
E: jniles@realestate-investment.com