An Update on the San Diego Market in 2018

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Before we get too far into the new year, I wanted to reach out with a few updates for you. First, I want to tell you about how the real estate market fared in 2017 in San Diego. Then I have a special event to invite you to. Let’s start with a market wrap up from 2017.

The median price for a home in San Diego at the end of 2017 was $540,000. That’s up 9.1% from the previous year. This strong appreciation was mostly driven by the strong economy, as more investors decided to take advantage of the low inventory and low interest rates that we’re currently seeing. In 2018, we expect the low inventory and low interest rate trends to continue.

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Join us this Saturday, February 3 from 12:00 p.m. to 4:00 p.m.

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As for the special event, I just wanted to make sure and invite you out to the grand opening of our new office in Bay Park. It’s really beautiful and we’d love for you to come out and take a look on this Saturday, February 3 from 12:00 p.m. to 4:00 p.m. We’ve got a big space set aside with artificial turf and we’ll have a lot of different things ready for you, including a bounce castle, a taco cart, giveaways from local businesses, and more. We would love for you to stop by.

If you have any questions for us about the current market or about our grand opening this weekend, don’t hesitate to give me a call or send me an email. I would love to hear from you.

Have a Very Happy Holiday Season

Happy Holidays! Thank you for a wonderful 2017. May you have a happy and healthy 2018!

Looking to sell your San Diego home? Get a free home value report

Looking to buy a San Diego home? Click here for full MLS access

Today, I just want to take a minute and wish you happy holidays and a happy New Year! I hope you have the chance to spend some time with your friends and family. Thank you for working with us in 2017, and we look forward to seeing you in 2018.

Are You Thinking of Adding an Accessory Dwelling Unit to Your Lot?

Have you ever considered adding an accessory dwelling unit to your lot? Last year, a new law made this possible.

Looking to sell your San Diego home? Get a free home value report

Looking to buy a San Diego home? Click here for full MLS access

Today, I’d like to talk to you about accessory dwelling units, which are more commonly known as “granny flats” or “in-law suites.”

Last year, a law was passed in California to help address the housing shortage. This law allows for the construction of a second home on a lot only zoned for a single-family property.

This way, you can either rent the space out or use it to house grandparents, in-laws, or your adult children.

However, actually following through on what this law allows has been somewhat difficult. Right now it takes about $26,000 to get the permits and plans approved by the city of San Diego. This is before anything has even been done toward the construction of the home. Additionally, it can take weeks or months to even get started. 

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Last year, California passed a law allowing accessory dwelling units to be built as a second home on a single-family lot.

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Thankfully, a proposal has been made to help streamline this process by reducing the associated fees and having templates available for the units. If templates became available for people wanting to build this second property, the unit would already be pre-approved.

There is a stipulation relating to size, though. You can build up to 1,200 square feet for an accessory dwelling unit.

If you are interested in accessory dwelling units, get in touch with us so that we can include you in an upcoming seminar my team and I are hosting on the subject. For more information on these accessory dwelling units, click here.

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.