Welcome to San Diego Blog | May 20, 2014
Home Owners View Point
The latest research shows that home owners feel much better about the real estate market today than they did one year ago. What does this mean? More sellers are willing to sell their properties and more buyers feel like the market is safe to get into. We’re seeing less investors in the market as the best gains are usually made going against the mainstream sentiment, but the real estate market is more normal now than it has been since 2004.
San Diego Home Owner’s Thought Process
Home owners generally accept that we are no longer in a distressed market. Now, many buyers are back to an equity position in their homes and they are thinking it is a good time to sell to move up or move over. Moving up is the big trend we are seeing with Gen X. That is the group that is in their late 20’s to late early 40’s. They may include young families with children that are looking to move from the starter condo to a single family home in San Diego.
The idea of a garage, a back yard and extra bedrooms for the kids plus an extra office space may be the big motivator along with school choices for this group.
Moving over consists of the Baby Boomer group or Empty Nester group that ranges in ages from 50-70 years of age. These folks generally may be in the big move up house they had grown their families in and now their kids are gone and they may even have grand-kids. The motivation for these people is to simplify life. Big houses and yards mean lots of maintenance and a high cost that comes along with it. The move over group may go to a condo in downtown San Diego where they can easily walk to restaurants and entertainment as well as lock their door and fly to dream vacationville for any length of time without worrying about their home.
Other move over buyers may give up land to be in a smaller space at the beach where the weather is more moderate. We also see move over buyers go from one large home to two smaller homes in two different locations. A prime example is our clients that have a place in the Palm Springs area and a small condo in Downtown San Diego or a beach condo in one of San Diego’s many charming beach communities.
If you are looking to move up or move over, we specialize in upgrading lifestyles! Give us a call and we can discuss your ideas: 619-356-3099