Where most see panic – I see opportunity!

I myself am not only a realtor I am also an investor here in San Diego. I own a single-family home, and duplex, and a 2 unit property myself and do a combination of long term, short term, and midterm rentals so I fully understand all the nuances of first purchasing various types of properties as well of the pluses and minuses of each type of renting strategy and am more than happy to share all my knowledge and experience. I am VERY bullish on San Diego property for the long term as our economy is rapidly growing and transitioning to white collar workforce with lots and lots of new tech/biotech companies and major infrastructure projects happening. I have attached a list of those for you to check out.

I do believe now is a great time to invest in the SD market for a couple reasons. One with rates being what they are, I am seeing prices come down allowing us to get into a great property at a discounted price. I have been negotiating below asking prices on some properties and seller credits which in the past 2 years have been basically no existence.  There will be no major crash in the SD market, the economics just do not support it for various reasons such as basic supply/demand and the fact that inventory levels are back down to 2020 levels. This lack of supply and still persistent demand will hold home prices at the basic level. There will be some fluctuation right now but overall no major crash will ensure. I also personally love buying the winter months as prices always trend a bit lower during this season. Once rates come back down, buyers will flood the market again and drive prices back up. So purchasing during this time when buyer demand is lower allows you to get a great price on a property, then refi once rates do go down. Recently, rates have improved by almost half a point due to the CPI data just released indicating dropping inflation. Rates will continue to fluctuate but this is great news.

Another reason for investing now is the basics of the expanding San Diego economic outlook as mentioned above. The amount of highly skilled, highly paid individuals moving to San Diego due to companies like Amazon, Google, Biotech, etc building campuses in the area along with the new work from home policies many major companies will keep, is driving a lot of talent to this area.  I have lots of data and economic information I am happy to share! Shoot me an email or call kelsey.olson@compass.com. 319-750-96956

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