Real estate market in San Diego primed for buyers, reports indicate

Even as the economy continues to recover, many homeowners are still wondering how to move forward after the most recent recession. This situation is no different in San Diego County, where reports indicate that one out of every three homes is sold as part of a short sale, a process by which the owner sells their residence for less than the value of their outstanding mortgage.

An article by the San Diego Union-Tribune pointed to data from December 2012 that indicated that 42 percent of the area homes were either short sales or foreclosures, though, this figure has dramatically improved since 2009, when around three out of every four area homes were sold in this type of sale.

While this means that buyers and banks may be struggling to sell their properties, the environment is great for buyers who can take advantage of unprecedented deals, even in prime areas. Still, before buying a home as part of a short sale, there are some things aspiring San Diego residents should know.

Since many homeowners turn to short sales out of financial distress, often these homes have fallen into states of disrepair. This could create savings on the purchase price for buyers, but it also leads to additional costs.

For example, carpeting and flooring that has suffered from homeowner neglect may need to be cleaned or replaced altogether. In this case, it is beneficial for potential buyers to know where to turn for experts who can help them beautify their home.

At Bonded Carpet, we specialize in San Diego stone flooring sales, hardwood sales and carpet sales, and have a professional installation team that can handle any tough job. So, regardless of how you’d like to remodel your new home, we have the tools to help you bring your imagination to life and put your home sale savings to good use. To find out how to start, contact our friendly representatives at 1-(858) 576-8400 today. 

Categories: Local California News & Tips