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Benefits of Owning a Downtown San Diego Condo

By Mike in December 2013|Downtown San Diego Real Estate with 0 Comments

Urban Living in Downtown San Diego

As we approach the end of the year, it is hard to believe that the end of 2013 is almost upon us. 2013 has been a very interesting year full of opportunity and challenges in the San Diego real estate market.   Ultimately, I think that buyers and sellers will look back at 2013 and be pleased with the results.   Buyers who bought prior to the rate increases of late summer and fall will have interest rates in the mid to low 3 percent range.  We may never see interest rate opportunities like this again.  Sellers who sold their San Diego Real estate in 2013 were able to take advantage of lower inventory levels and double digit equity gain.

At the end of each year, it is common practice for most successful people to dream big and write up their goals for 2014.   For any investors and buyers interested in a Downtown San Diego condo, the suggestion is to put the goal of homeownership on the goal list.   Here are several reasons to think about buying a Downtown San Diego condo in 2014.

1. Prices are going up: It is a pleasure to finally report that the Downtown Real Estate market is gaining equity.  In 2013 we saw 15% to 17% of equity gain in most markets.  Over the course of 2014, many real estate analysts predict there will be more modest equity growth of 7% to 10%.

2. Interest Rates are going up: The FED introduced everyone to the “new normal” for interest rates when they increased rates by a full basis point in the middle of summer.   Over the course of next year as the government decreases bond buying to keep rates low, we may see 5% interest rates again for the first time since 2006.

3. Tax Benefits of Homeownership: As the economy continues to gain strength it will be more and more important to take advantage of every benefit in homeownership.  The tax benefits for a homeowner are significant, and should not be overlooked.

4. Take advantage of the Urban Lifestyle:  Downtown San Diego has so much to offer in terms of a great urban lifestyle.  Everything from work, live, and play are literally within “footsteps” of your front door.   One of the best aspects of living in Downtown San Diego is walkability.  It is possible to remove yourself from the “hustle and bustle” of the San Diego freeways by parking your car and walking. ')}