San Diego is the eighth largest city in the United States and the second biggest in California. The city is located in the southern-most corner of California’s coastline and is blessed with sun throughout the year. Sun, surf and exquisite scenery are the qualities that visitors associate with San Diego. The economy is largely composed of agriculture, biotechnology/ biosciences, computer sciences, tourism etc.
Once a thriving fishing commercial fishing port, San Diego is turning its resources and energy towards tourism with great success. San Diego attracts more than 26 million visitors from all around the world and has developed a reputation as s top North American travel destination. However investing in real estate is still one of the best financial investments.
Now is the perfect time to invest in San Diego real estate. From 2005 to 2007, San Diego experienced a greater than 15% decline in real estate prices which continued to accelerate into 2008. One can invest here to just have a stake in this market, or in order to eventually retire to San Diego and if you can afford it rest assured San Diego will be excellent performers over time. Prices are going lower which varies with the neighborhood, size of home, location and home style and like any smart investor one should buy now in order to make big profits in their investments in the future.
The property tax structure is a big plus in San Diego. Taxes are limited to a percentage of the purchase price which is typically 1.2% and can only go up 2% a year. Such stability is just added incentive and benefits an investor in San Diego. Compare such taxes with Florida where they have a hurricane and taxes go up by 50% in a year just like that. Property taxes collected by the government are used very wisely in San Diego. Almost seventy percent of the property tax collected goes to the school system and the County of San Diego. The whole city and community are benefited greatl
San Diego is a great place to live in because of its fine climate, culture, tourist attractions, diverse cuisine, top class universities and business opportunities. There is always an inflow of people coming to San Diego especially downtown which is a great place to live in. Downtown San Diego scene is very happening with attractions like PETCO Park, the San Diego Padres, and many other great downtown areas. There will always be good demand for houses here thus providing ample business opportunities for real estate investors.
Thus with interest at an all-time low, huge inventory of properties to choose from, easy access to thousands of bank owned and short sale deals it is perfect for buyers. So don’t wait. Remember as with any investment, the best time to buy is when others don’t want to buy.
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