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Downtown San Diego Condos in 2014 – A Year in Review

By Mike in Downtown San Diego Real Estate with 0 Comments

2014 Downtown San Diego Condo Update

If you are like me…it is hard to believe that we are talking about the end of the year. The 2014 year in Downtown San Diego real estate has been full of opportunity. Ultimately, I think that buyers and sellers will look back at 2014 and be pleased with the results. Buyers were able to take advantage of longer market times, great interest rates, and more Downtown Condo inventory to find great deals. While Sellers were challenged with the longer market times, values continued to stay consistent and growing little by little.

At the end of each year, it is common practice for many successful people to “dream big” and envision their goals for the upcoming 2015 year. For buyers considering the Downtown/Urban Lifestyle, there are several reasons to think about buying a Downtown San Diego Condo in 2015.

1. Values continue to inch up: Comp by comp, values remain consistent. Equity growth in 2014 has not been the same as in other recovery years.  This year we did not see double digit spikes like we have grown used to.   It will be interesting to see how all the numbers eventually work out, but stability and moderate growth in 2014 provided a strengthening perception of the real estate market in Downtown San Diego.

2. Interest Rates are going up:   This year, the Fed officially announced that it would officially begin to tapper, and eventually do away with their bond purchases.  This will eventually lead to higher interest rates.   Rates in 2014 remained relatively stable, but all associated with real estate expect rates to increase significantly over 2015.  We may never see rates this low for years to come?

3. Tax Benefits of Homeownership:  As the US economy continues to gain strength over 2015, 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.  For years now, Downtown San Diego Condos have provided a solid purchase opportunity as personal, secondary, and asset based real estate investments.

4. Take advantage of the Urban Lifestyle:  The urban lifestyle is always a key benefit to purchasing a Downtown San Diego Condo.   Living with access to work, live, and play just outside your front door is a motivation for both primary residences and second homes in Downtown San Diego.   More and more buyers are craving the “community” and access to more “life” around them in an urban setting.  In conjunction with the fantastic weather in San Diego…the opportunities for work and fun are all around you in Downtown San Diego. ')}