San Diego beach real estate heats up with rising second-home sales
By Cher Conner
Second-homes and summer vacation properties don’t tend to sell if the general housing market is in decline. However, according to a recent Investors Business Daily report, rising real estate optimism is spreading over to second home sales – and that spells good news for San Diego beach real estate. The Los Angeles Times reports new market gains as of May 2012, with California home sales jumping 9.3% from April. In addition, mid- to high-end coastal markets continued to gain traction. Representatives from the National Association of Realtors note a related rise in second-home sales in select parts of the state, with high-end properties driving the bulk of buyer activity. Here in San Diego, that translates into improved residential and vacation home sales throughout our local beach communities – timeless destinations renowned for sun, surf, sand and vibrant local culture.
Vacation homes on the San Diego coast
Homebuyers have many reasons to consider San Diego coastal real estate when it comes to choosing a second-home location. Flanked by the Pacific Ocean and stunning beaches on one side, the rustic charms of desert mountains and Temecula wine country to the other, and nestled between Los Angeles to the north and Baja to the south, San Diego has everything a vacation aficionado could ask for. In the coastal communities of La Jolla, Del Mar, Rancho Santa Fe, Pacific Beach and Coronado, prospective buyers can choose anything from a charming surf bungalow to an impressive resort-style home – and secure a spot mere steps away from the beach or with a majestic view of the California coastline.
So far this summer, my last three home sales have been second-properties for out-of-state buyers – a figure that makes up 25% of my recent sales activity overall. These buyers are coming from areas like Texas, Arizona and Nevada, and many are realizing that, at this point in time, it makes more sense to buy than to rent vacation real estate. As with the stock market, by the time the real estate market takes a discernible turn, the best opportunities for buyers and sellers have already passed. Right now, with such low interest rates and lower prices than we have seen in the last 5 years, buying is the most practical option for San Diego vacationers.
Whether you are planning for retirement, looking to help out a son or daughter in graduate school or seeking a new investment opportunity, San Diego vacation real estate is an ideal choice – and one that bears enduring value thanks to our incredible year-long weather, prime surfing beaches, golf courses and resorts, convention center and lively arts and culture scene. As a seasoned La Jolla real estate agent, I am deeply familiar with the local market – and therefore in a prime position to help my clients make the prefect choice when it comes to selecting a second home in San Diego. Buying and selling real estate is not just my profession – it is my passion. I have seen all markets and certainly this is the first time in over 32 years I have seen interest rates lower than my student loans! If you are interested in La Jolla real estate for any reason, now is the time to bite: you do not want to miss this buying opportunity. Learn more online today: www.realestateinlajolla.com.
- San Diego coastal homes lead rise in California real estate recovery
- Low mortgage interest rates leave La Jolla homebuyers in prime position
- Median California home values make long-awaited spring gains
- Renting vs. buying a home: why now is the time for San Diegans to purchase real estate
- Rental market boost bodes well for housing market recovery
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