According to a real estate investor friend of mine, it looks like real estate in San Diego may be going back up!
My friend received a call today from her business partner who said that the investment home in Lemon Grove that they’re planning to put on the market in a few weeks has increased in value. A month ago the comps were $240K in the area and now they’re up to $275K.
As you can see from the chart below, home values in Lemon Grove, CA have been cut about $200K in the past couple years…[caption id=”attachment_109″ align=”aligncenter” width=”444″ caption=”Source: Zillow.com”]
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Christine Van Tuyl of Prudential Real Estate has also noted an increase in real estate values in San Diego.
Single-family resale homes rose from a low of $319,000 in March to $325,000 in April. The latest median was 24.4 percent below April 2008’s $430,000.
It’ll be interesting to see if this rise continues!
Source: SignOnSanDiego.com