Home prices in the San Diego area have dropped by as much as twenty to forty percent. Along with this, mortgage interest rates are at historic lows, and lenders are competing with each other to get your business.
Following the demise of the Federal Tax Credits for Buyers, there is less competition out there for the buyer. There are not many bidding wars seen of late. While you may not be able to get an outstanding bargain on a beach front property, you may be able to do quite well if you go after properties that are a few blocks inland.
Should you be going to be using your vacation home for just a part of the year, you can rent it to vacationers who are looking for accommodations that are more suitable and comfortable for them than a hotel.
When it's time for vacation, travelers have found that it is often less expensive to rent a home or condo rather than stay in a hotel. This is especially true for longer stays and for those traveling with family members. This, along with the somewhat weaker dollar, has increased the demand for rentals by domestic as well as international vacationers.
Historically, investing in real estate has been a safe investment over the long term. So enlist the help of a qualified, well-informed Realtor and start looking for that vacation home here in beautiful San Diego!
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