Why Buying in San Diego Just Got Harder

Рет қаралды 3,973

Күн бұрын

Пікірлер: 28

@Chew5219 8 ай бұрын

San Diego has always been a desirable place, but in the past it has been difficult to find a high paying job. People that wanted to live in San Diego had to move to less desirable places like LA or San Francisco due to employment. That dynamic has changed a bit with WFH options.

@DanPBestLifeSD 8 ай бұрын

100%

@TheECICK 8 ай бұрын

I’ve submitted 3 offers now. $100k-$120k over asking and got beat out by offers going $200-$220k over asking. Such a crazy market. Bidding wars have already started. As a local San Diegian it’s looking less and less realistic to own a home.

@nickvin7447 8 ай бұрын

You probably just dodged a huge bullet.

@DanPBestLifeSD 8 ай бұрын

It’s brutal out there, but there’s also a lot more to getting an offer accepted than just being the highest offer. I hope your agent is experienced in this market and a skilled communicator and negotiator with the listing agents. What I always tell my clients in those scenarios (they are never fun) is that if we are making offers and keep coming in 2nd place, we are being strategic and we will absolutely get an offer accepted. If we continuously don’t get an opportunity to be included in multiple counters, then we aren’t being competitive enough. Wishing you the best of luck in locking a home in soon!

@erniegutierrez2288 8 ай бұрын

200K over asking!?!? wow! Dang i might have to rethink my options lol. I just heard this morning that the median price just surpassed 1 mil!

@Bmafeilong 8 ай бұрын

Civita has new homes coming, Everly. Very little new construction and low inventory is supporting prices. If prices haven’t been hurt by higher rates, imagine if rates drop 😮

@ReeLSpirit 8 ай бұрын

Going to be a hot spring/summer. Thinking 10% increase. Then over 5 years or so, 25% increase

@DanPBestLifeSD 8 ай бұрын

Yes there are some new developments, but they are mostly all small infill projects. And I agree, once rates come down it's going to be tough out there!

@mandimatera9312 5 ай бұрын

A lot of wealthy people from out of state and country buy SD homes in cash. They don’t work in SD but leisurely work at home to monitor their portfolios.

@brad6523 7 ай бұрын

I recently moved from a small bungalow 2bd 1 bath in Point Loma to a 4bd 2 bath in Chula Vista just east of the i-5. Not as walkable to the beach then Point Loma but you get way more bang for your buck and Chula Vista has less homeless and in my opinion is up and coming market. Especially with the large resort they are building on the marina. Believe it or not it is actually a shorter drive to get pretty much anywhere in San Diego then when living in Point Loma. I can hop right on the freeway here when I’m Point Loma I had to go through a dozen lights to get to the freeway

@erniegutierrez2288 8 ай бұрын

Excellent tips Dan! So, I might try to get the home before the panic buying starts.

@DanPBestLifeSD 8 ай бұрын

Well if you read @TheECICK ‘s comment you will see it’s already a bit crazy out there and not an easy or fun market for buyers. But there isn’t much logic with thinking it will get easier or cheaper once demand increases due to rates coming down.

@ReeLSpirit 8 ай бұрын

Saw a house that couldn’t sell for one year or more with some price drops, now pending lol I predict low amount of houses for sale for an entire decade. Not many will give up their low interest rate. Would rather rent out the house and buy a new one. The low rate hits the principal loan hard every month

@DanPBestLifeSD 8 ай бұрын

That's exactly what the numbers are showing. It's absolutely brutal out there for any buyer, but especially for first time buyers.

@colint1279 8 ай бұрын

Dan can you post links to articles referenced in video?

@slotrane8853 8 ай бұрын

Are homes moving out there? It’s gotta be hard to sell when you’re probably sitting on an interest rate in the 2s. Who wants to leave that?

@DanPBestLifeSD 8 ай бұрын

We refer it to the lock-in effect and yes it’s a huge issue

@64devil 8 ай бұрын

What's the monthly payment on a house? Is it 3k cause people are charging around 4 k to 5k rent for 3 bedrooms

@DanPBestLifeSD 8 ай бұрын

Check out my rent vs own video it breaks this down pretty well. The truth is from a monthly payment perspective, it’s quite a bit more expensive to own a home than to rent in SD

@Themaneman464 8 ай бұрын

I've accepted I'm not going to be able to buy a house here in San Diego county. Got into the market too late. Is what it is not everyone gets to win 🤷. Hopefully I'll PCS somewhere with reasonable prices. Doubt the market will get back somewhere reasonable in a market like SD.

@DanPBestLifeSD 8 ай бұрын

It makes it even more challenging for our military members that only expect to be here 2-3 years before getting PCS'd to another area. I'm sorry it's so challenging here and sending you all the good luck for your next move!