The numbers are in and it appears that the real estate market throughout San Diego County displayed strong appreciation value. The average increase in value for real estate was 18% at the end of 2013. This is excellent news for speculative and investment real estate owners, as it shows a strong return on any investments and continues to prove that San Diego is one of the best places to purchase and own real estate in the United States.
The news of the appreciation needs to be taken in stride however with the fact that overall the housing market slowed in the second half of 2013. This is great for the real estate investor interested in leasing and renting their property. Overall it means that the value of their estate increased while the number of people looking for housing increased as home purchases decreased.
Juggling the complex issues between housing appreciation, property taxes, the employment rate, and the home purchase rate for the real estate investor can be difficult. As an investor it is important to look for a decrease in unemployment, with an increase in overall appreciation of home value, while balancing the actual number of homes sold. The great news is that the market is moving toward stasis in 2014 laying additional foundations for the both the short term, fix and flip houses investors, and those looking for long term gains.
At Rent RPM we work together with real estate owners looking to rent and lease their properties. We follow all of the news to ensure that our information provided to real estate owners is accurate and also keep a strong watch on the pulse and changes to the economy to know how to adjust marketing schemes as well as make recommendations about rental and leasing costs – at the discretion of the property owner, of Couse.
2014 looks to be a good year for the property owner. As recently reported in our blog, luxury apartment rates are on the rise, which opens both affordable apartment rates as well as the market for high-end locations as well. Property taxes were assessed lower than the average for 2013, and the market continues stabilizing toward a neutral market between buyers and sellers.