The pros (and cons) of RE in San Diego

[phaster]

FWIW picked up a copy of one of the local free rags, which just happened to have an article about buying local RE, so thought I’d post a brief intro and link…

The pros (and cons) in San Diego

By Taylor Schulte | Financial News

A 2015 study released by Zillow shows that San Diego currently has one of the worst housing markets in the nation, with inventory down 30 percent year-over-year, and the fourth highest median price in the nation at $528,000. While the market is seemingly in the seller’s favor, many opt to buy regardless of the housing market — be it for stability, tax benefits or something else altogether.

As a financial planner, I often find myself discussing real estate and its impacts on one’s financial future. And while there are plenty of reasons to buy, there are also a number arguments that support renting. Below are a few considerations to keep in mind when faced with that decision.

http://sandiegodowntownnews.com/to-buy-or-not-to-buy/

[mixxalot]

Problem is that I do not see anything affordable or nice close to coastal areas for under a million bucks.

[bearishgurl]

[quote=mixxalot]Problem is that I do not see anything affordable or nice close to coastal areas for under a million bucks.[/quote]

mixxalot, define “close to coastal areas,” please. What exactly did you expect? You will be a first-time buyer, no? (That is, if you ever make an offer on a property in SD.)

Do you think that your predecessor first-time buyers (yes, even as far back as 40 years ago) bought “close to coastal areas?” And if any of them actually did, was that dwelling actually habitable at the time they closed escrow on it?

Could it possibly be that you might be expecting too much for your first home and that is the reason why you haven’t yet bought anything in SD County?

[bewildering]

[quote=mixxalot]Problem is that I do not see anything affordable or nice close to coastal areas for under a million bucks.[/quote]

I would have loved to live around scenic drive above La Jolla Shores. But so would a lot of people and therefore the prices are out of my reach. But I could afford, and bought, a house in Bay Ho in 2014. Less people wanted to live in that area so it was cheaper.

There is a house in my area for low 500s. Is that not close enough to the coast?

BTW, the problem with being close to the coast is commute times. When I lived in PB my commute was a pain. Now my commute is great.

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