Welcome to San Diego Blog | July 21, 2012
Hot Property – Little Italy Loft – In Escrow
Hot property – Little Italy 2-bedroom loft in Doma already has an accepted offer on it, and is in escrow after just six days on the open market. I wrote about this hot property last week in a blog detailing its desirable features and real estate value.
Reduced Inventory Creates Demand – Hot Properties
Since inventory is down, move-in ready homes that are competitively priced sell quickly in today’s market. Sales prices have tick-up 9% in San Diego over last year at this time due to reduced inventory. The San Diego Association of Realtors provides a monthly video update of area sales statistics, and market projections.
Case in Point
If you are visiting properties and see a home you like, you may want to be prepared with a pre-approval letter so you can move quickly with an offer, especially if you’re looking in the $600,000 and below price range. Remember, if it’s a “hot property” it’s likely to receive multiple offers and not be available for long. Doma unit #112 is a recent case in point.
If you want help searching and finding hot properties, please give me a call (619) 246-8400.