I have been a huge fan of Rancho Bernardo condos. Simply put, I don’t know of another location in San Diego County where you get as high quality a tenant to occupy as low priced a property as you do in RB.
Many are surprised to find out that there are multitudes of Rancho Bernardo condos available under two hundred thousand dollars. There are not very many other communities of this caliber where you can find such low priced investment properties. Rent in RB is also going to be higher than in most other San Diego locations that offer such low priced properties. Plus, the tenants in RB tend to take better care of their properties than in some other low priced neighborhoods.
As an example, you may purchase a one bedroom Rancho Bernardo condo for $120,000 and rent it for $1,150 per month. Great CAP rates like that are hard to come by anywhere, let alone in such a high quality neighborhood.
You can do your own custom search of all Rancho Bernardo Condos here or you can fill out the form below to request a personal investment consultation with one of our great agents.
Tenants here also tend to be longer term and the community benefits from being part of the Poway Unified School District, one of the county’s best. Condos here also tend to be in good condition relative to alternatives in the same price point, lowering your management costs and increasing returns.
We always have strong investment opportunities ready to go for our clients so please feel free to reach out via email, Dan@SanDiegoHomeFinder.com or by phone at 858-759-4519.
The biggest surprise for today’s home buyers is the shockingly limited amount of available inventory across the county. This is something I have been sensing for months but it is now without any doubt a reality. In fact, I dare say that San Diego is turning into a seller’s market.
Sound completely incongruent with news you hear on TV and in the papers? Well just ask anybody that has looked for a home in the past few months and you will not believe what they tell you. Truth is that even the national media is starting to come on. The April 27, 2012 issue of the Wall Street Journal ran a story on its front page si-highlighting the fact that inventory is own and that bidding wars are back across the country. This is especially prevalent on the coasts.
Home buyers today will tell you of how they just can’t find a home they like and once they do spot one there are bound to be multiple offers within days. Cash buyers acquiring distressed properties will tell you how they had to let a potential deal go they really wanted because it got bid up too high by the competition. Luxury homes buyers in communities like Santaluz or La Jolla will tell you they are having trouble finding a good property that makes sense for their family. That there is not a lot to choose from and the good ones go fast.
This is happening in almost every San Diego neighborhood for a number of reasons. Here they are:
- Sellers that have not been willing to meet today’s prices have simply taken their home off the market in hopes of higher prices in the future.
- Other sellers have been willing to drop their price to meet the realities of today and have found that there are plenty of buyers out there ready to purchase well priced property. In fact, the often end up with multiple offers and are surprised by how fast their home sells. ...
I spend a lot of time evaluating market trends in San Diego County and trying to figure out what the best place is for my client’s investment dollars. The goal being to uncover North Park or South Park prior to the gentrification process that transformed those communities and added tremendous value to the local real estate. Imagine buying downtown San Diego real estate prior to the year 2000 when there wasn’t much there. Or how about purchasing property along the 56 corridor prior to the freeway’s construction?
It is my belief that those of you looking for the next big thing should turn to Normal Heights and Talmadge. Everything tells me that gentrification is heading into those areas and in a big way. Interesting to note that neither neighborhood is especially inexpensive now as it is, but I believe that there is still plenty of money to be made there as both are relatively unknown and are benefiting from very interesting fundamentals and geographical advantages.
A quick glance at a map and a drive through the community will illustrate a major reason why I am making this prediction. Geographically, Normal Heights has University Heights and Hillcrest to the west, North Park to the south, Kensington to the east, and a huge cliff followed by Interstate 8 freeway to the north. In other words, it is surrounded by more expensive and more gentrified neighborhoods in every direction. University Heights, Hillcrest and Kensington in Particular are significantly higher priced neighborhoods and we all know all about North Park’s renaissance over the last number of years.
As real estate values continue to climb in these surrounding neighborhoods, there is very little doubt that tomorrow’s restaurants, coffee shops, and condo projects will start popping up more frequently in Normal Heights. In fact, home flippers who fix up distressed properties...
Miraval By Davidson - Carmel Valley...