Three Great San Diego Neighborhoods for Real Estate Investments
San Diego neighborhoods are hot when it comes to real estate and San Diego’s rents and yields are on the rise, its population is growing, and the demand for rental property is increasing. San Diego Real Estate is a great place to start when it comes to Trust Deed Investments. Trust Deed Investing is when investors invest their money in Trust Deeds which are secured investments backed by San Diego real estate. Basically, the investor becomes the bank and they can earn a much higher interest rate than a conventional bank. If you are looking for a place to invest, you should definitely consider San Diego but which neighborhoods are the best places to start?
According to Redfin, one of San Diego Neighborhoods El Cerrito is one of the nation’s “about-to-be-discovered gems.” The median home value in El Cerrito is $822,900. El Cerrito home values have gone up 10.1% over the past year and Zillow predicts they will rise 2.0% within the next year. The median list price per square foot in El Cerrito is $448, which is lower than the San Francisco Metro average of $467. The median price of homes currently listed in El Cerrito is $699,000.
According to San Diego Magazine, “An ultradiverse locale where neighbors get together for activities like gardening, community cleanups, and craft beer. The Mid-City region is attracting young, community-oriented dwellers who are passionate about reinventing a place that was once run-down. Even though it’s near major freeways like the 805 and 94, you’ll still find a suburban feel in Oak Park.” The median home value in Oak Park is $394,100. Oak Park home values have gone up 10.2% over the past year and Zillow predicts they will rise 2.7% within the next year.
Movoto reports, “Another one of the larger cities in San Diego County, Oceanside is most recognizable for the Oceanside Pier, first built in 1888, now stretching nearly 2,000 feet over the ocean. The area is a very popular surfing destination and attracts tons of beachgoers on an annual basis. Oceanside is 38 miles north of San Diego, but the beachside drive down Interstate 5 into the city is one of the most beautiful commutes in the country.” The median home value in Oceanside is $473,500. Oceanside home values have gone up 7.8% over the past year and Zillow predicts they will rise 1.9% within the next year. The median list price per square foot in Oceanside is $303, which is lower than the San Diego Metro average of $335.
Location is incredibly important when it comes to real estate investments. Those who are thinking about resale value, the power of location should not be underestimated. When it comes to the San Diego real estate market, the most profitable properties are close to the coastal/ Since San Diego is a beach community, homes that are closer to the water will have a significant boost in value.
In terms of its value, the neighborhood is a significant factor as well. Anyone who buys a home considers if the neighborhood has the desirable features. From an investment point of view, however, it is important to be more discerning in the comparisons. It is a good idea to gauge the size and condition of the houses on the block. It is important to do some research to see if the neighborhood has a good resale value. If the other properties are not valuable in the neighborhood, then the home will not hold its value as well.
Trust deed investors should consider investing in San Diego Real Estate because it is the second largest city in California by population and it is growing at a healthy pace. There is a growing demand for property with a growing population and it will continue to rise throughout 2017. The rising demand in addition to the increase in rents suggest favorable conditions for San Diego investors.