Im looking for a little investment house or condo in San Diego county. Something thats a real bargain. What areas do you recommend?”
***ANSWER:
In my opinion, the areas that have seen the biggest price drops are, in very rough declining order:
1. Spring Valley
2. Paradise Hills
3. EastLake (east Chula Vista)
4. Oceanside
5. Escondido (parts)
6. Logan Heights
7. East San Diego
8. Encanto
9. El Cajon (parts)
10. San Ysidro/Nestor
This is NOT based on any statistics, just personal experience.
Most areas dropped due to too many bad-credit subprime loans. But EastLakes drop is more due to much of the area being built and sold near the market peak 2-3 years ago. People put zero down, got a short-term low rate adjustable, then couldnt refinance or sell because they were upside down.
Id look at investing in these parts of town.
And I have PLENTY of foreclosures in these areas, so call me at (858)457-KENT and well find you a good deal.
Surprisingly Affordable San Diego Condos
