Elliot Adler offers insights into the ever-changing San Diego real estate market.
SAN DIEGO, CALIFORNIA, September 17, 2022 — Real estate from a personal finance and investment perspective has grabbed many financial headlines over the past two years, according to Elliot Adler, San Diego area real estate investor.
At first, headlines centered around the explosive growth in home prices across the United States. From homes selling immediately after listing to offers well above asking prices, the market was hot in San Diego and across the country. As 2022 evolved and consumer prices soared, the trends started to shift. The market is no longer on fire, and listings are starting to stay up longer and prices are declining.
For real estate investors who were priced out of investing for the past two years, a dip in San Diego real estate prices, even though they remain above historic averages, provides a better opportunity to find a bargain on a property with potential.
Elliot Adler on mixed-use developments
A popular trend in San Diego and many urban communities with opportunities for growth is creating city spaces with a blend of residential and commercial properties. Rent developments have included more expansive apartment complexes with community spaces built in.
From fitness centers a cut above the classic in-building gym to dedicated business leasing space on the ground floor or in adjacent buildings, these developments aim to create the ultimate live, work and recreation experience in an easily walkable range.
As energy prices continue to climb and related complications impact consumers, investors can find unique opportunities by investing in properties near these rapidly developing hubs, according to Elliot Adler.
While direct investments are always possible, nearby properties can provide an opportunity to locate either a turnkey solution or a fixer-upper with the potential for a big payoff in the future when the population in the immediate area grows. Focusing on commercial properties or residential sites with commercial potential in these areas is a great idea when funds are limited.
Identifying up-and-coming opportunities
Like many larger cities, San Diego is often pursuing revitalization projects in various areas of the city. Elliot Adler advises keeping an eye out for the next big investment, particularly when public and private dollars are blending, is a great way to identify new opportunities.
As of September 2022, the city is exploring Midway District improvements. While a lot is still tenuous, the repeated focus on the area points to eventual opportunities in that sector of the city. Adler advises public meetings, such as City Council, zoning boards and historical commissions can be an excellent source of news for new investors who haven’t yet developed a network in the San Diego real estate community.