Proud to be a part of and serving the beautiful city of San Diego, here at Wardell Builders, we maintain a healthy and current knowledge of areas of expansion throughout the county. It is no secret that our economy is a bit upside down right now as prices are going up and wages are staying the same so here’s the latest on real estate prices in North County according to the Seaside Courier.
Since April, prices of homes began their steady increase, even more so in the North County part of town. As a direct result of the prices exceeding the housing bubble of the mid-2000s, San Diego locals have gotten crafty in choosing areas to locate as far as price. According to local realtor Brian Flock, “Prices in Carlsbad are substantially higher, especially Olde Carlsbad, where home prices are up by as much as 20% from bubble levels. A lot of this can be attributed to 20% population growth in both cities over a decade plus active redevelopment in Carlsbad’s Village- Barrio.” And just as icing on the cake, the number of home for sales is currently hitting 75% below the peak.
Drylands and Seas
So, if we cannot search in seaside areas, where does that leave us? Vista. Although Vista isn’t exactly the pearl of San Diego, it is the most affordably priced area in North County currently. Named the “price sweet spot” is the typical region where you get “most home and land for the money.” The trick is to looking diligently for what you want; there are always deals to be found. But local San Diegans know that the farther you are from the ocean, the lower the rent which is why Vista is a decent compromise. Not too far from Carlsbad and Oceanside beaches, Vista is all land with much promise.
But most that have found a place along the coast are not willing to leave the gorgeous views of San Diego beaches; we cannot blame them. As these steadfast beachfront lovers are not willing to compromise to the drylands of Vista and farther East, accompanied by the locked mortgage rate below 4%, they are not willing to sell and choose to remain stagnant. And with mortgage rates on the rise, there is really no incentive to leave. But there is always one solution that people forget and that is home remodeling.
Here at Wardell Builders we specialize in taking your home and creating a home you dream to live in out of it. If you already love your location, you’re stuck in a mortgage cage that only end up hurting you to get out of, and you don’t want to lose money selling your house: remodel. Remodeling is the perfect compromise that will not only increase the value of home once the market has returned to its original state and you’re saving a lot in the end if you choose to spend the rest of your days in the same home. Don’t lose out of on opportunities that are right in front you and contact us today to take your home to the level you want it to be!