Welcome to San Diego Blog | April 24, 2010
San Diego Real Estate Investment
Based on a recent survey conducted by Move, Inc. consumer interest in purchasing San Diego real estate as an investment has more than tripled in the past year. According to the survey, nearly 17 percent of potential home buyers said they plan to purchase a home in the near future as an investment compared with 5.6 percent in March 2009.
How are these San Diego Real Estate Investors Going to Buy?
More than 10 percent of Americans planning to purchase investment property in the near future said they will pay for the property using all cash, and 12.8 percent will use cash for more than 50 percent of the purchase price and finance the remainder. Nearly half of these future buyesr reported they will buy the property with less than 50 percent cash down and finance the remainder.
Timeframes for investing in San Diego Real Estate
Nearly half of the potential real estate investors said they plan to own the property for six or more years; 16 percent expect to hold the property between two and five years; while 10.6 percent plan to own the property between six and 24 months.
Right now is an indeal time to invest in real estate in San Diego.
The survey found interest in purchasing a foreclosure as an investment is on the rise, with interest in purchasing a foreclosure as an investment to fix it up and resell rising 42 percent in March. It is no surprise, we are starting to see flippers return to the market. The bottom has hit for the lower priced properties. The luxury properties in downtown still seem to be coming down some in price though…