by David Tal, HomeReach.com
It would have seemed unimaginable for the past few years. More neighborhoods in San Diego are cash flowing, making them extremely appealing for homebuyers and investors alike. On average, San Diegan’s are now only paying 16% more to own than they would to rent. That is a small premium to pay to own your own home and gain from it’s appreciation, tax incentives, and vast benefits. Compare that to 2006, when it cost 66% more to own than to rent and it’s easy to see why the attractiveness of owning a home back in 2006 came to a quick and strong halt. The last time owning a home was only 16% more expensive on average in San Diego was in 1999.
Oceanside, CA – Oceanside is the 2nd highest selling community in San Diego County, selling thousands of homes each and every month. Values dropped 40-50% from their peaks but dropped only 7% for 2009 with an upward trend in the last 4 months of the year. Strong rental demands from government military and naval bases, as well as thousands of young families moving slightly farther away from city centers find great values here for their money. Investors have taken note too!!! See the Best Deals in Oceanside!
Chula Vista, CA – Believe it or not, Chula Vista is selling more homes each month than any other neighborhood in the County. There are really two completely different areas of Chula Vista, divided by the 805 Freeway, and spread over 5 zip codes. The greater part of 3 of those zip codes were only built in the last decade and they are stunning. For those who have visited, they know what I mean. It’s clean, brand new, beautifully landscaped, wide streets, homes with some actual land, it’s safe, exciting and the values are on a league of their own. New schools, parks, shopping centers, business districts and restaurant/nightlife line the avenues of the new Chula Vista, nestled just east of the 805 freeway and just south of Bonita. Chula Vista was hit the hardest by foreclosures since most of it was built during the peaking years of the housing bubble. Now, homes values have dropped 40-60% and rents have remained strong because of the schools and low housing costs we have today. Come take a look for yourself. Chula Vista is cash flowing! View Foreclosure Deals in Chula Vista!
Imperial Beach, CA – Imperial Beach hasn’t been as popular as other coastal areas like Pacific Beach, La Jolla and Del Mar. But those areas have weathered the storm better and have always been expensive. Imperial Beach is now getting a 2nd look, not just from homebuyers, but the city too, which has zoned coastal areas of Imperial Beach as a Redevelopment District. The Imperial Beach in 10 years from now will be a very different place than it is now, but already we’re seeing major tenants moving into the neighborhood, and redevelopment along the coastline. Dozens of home owners are taking time to upgrade and update their homes, realizing the future potential of their home. Imperial Beach is San Diego’s most affordable coastal city for all that it has to offer, with direct access to Coronado Island and the 5 Freeway. Within a two block radius of the naval base, there are dozens of 1 and 2 bedroom foreclosures, completely upgraded, priced between $80,000 and $150,000 that can rent for $800 to $1,500 per month! Cash flow baby! View all Imperial Beach Bank Owned Homes!
Tags: cash flow, foreclosure, neighborhoods, real estate, san diego
