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January 19, 2021
The national and San Diego trends show that people want to move to less dense communities in COVID times.
What does this mean to condo values?
The desire for more space has led to many people wanting bigger homes. Because people are working from home, kids and parents are moving back home, and a backyard has caused a need for more space.
So the answer is, both houses and condos are selling fast, but houses are hotter.
We sell both houses and condos in San Diego County. For a FREE guide to CREATING an AUCTION EFFECT WHEN SELLING YOUR SAN DIEGO HOME, click here.
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If you own a condo or townhome, think about selling now. Here's why.
- Prices are at their all-time highest.
- Forbearance is ending, so we are likely to see more homes come on the market.
- Tenants are not paying condo landlords full rent. More landlords will put their condos on the market and take their equity.
- Condo and townhome owners/tenants have had more income loss than high-value homeowners that can work remotely (zoom economy) and haven't seen an income drop during COVID.
If you would like to see how much equity you have, visit www.SDHomePrice.com.
BOTTOM LINE
As prices continue to rise and buyer's income is flat, at what point do people stop buying because it's not affordable. Click here to see the video.
Call or text me at 619-846-1244. or visit: www.GeorgeLorimer.com/blog
George Lorimer |
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