A client we’ll call Josef decided to retire to Encinitas a couple of years ago. He was ultra-specific as to what he wanted in his North San Diego County luxury home. He demanded a home with a pool, spacious outdoor entertaining areas, enough bedrooms to accommodate a couple of guests, a large office and a serious kitchen for cooking. He also wanted no houses looking into his windows or back yard.
And why did Josef want Encinitas? He wanted to be close to San Diego beaches, close to La Costa Resort and wanted perfect weather that was second to none. Josef wanted nothing more than to escape the gloomy skies of Northern Europe and spend the rest of his days basking and tanning in San Diego sunshine.
But Josef was also a very astute businessman: He knew he would be collecting his retirement pay in Euros and even at that time, was enjoying a favorable exchange rate with the dollar.
These days, when we run into Josef around Encinitas and San Diego's North Coastal area, we are greeted with an enormous smile and bear hug. He loves life along the coast, loves the great buy he made on his luxury home, and is ecstatic about the increasingly favorable US exchange rate for Euros.
Increasinglywith the weakening dollar, we are hearing of foreign investors who are drooling over real estate in San Diego. Not only have our real estate prices dropped to very attractive levels (in most areas), but foreign currency will now buy far more than it would have just a couple of years ago. As an added incentive for buying U.S. properties, European real estate prices have reached very lofty levels, even by Southern California standards. That creates an even better comparative bargain in the United States, In fact, we are hearing of Europeans who now come to vacation in the United States with empty suitcases.
Shopping here is a dream-come-true.
Because of this favorable foreign perspective on San Diego real estate, more and more of our marketing resources will be directed overseas.
The months ahead promise to be interesting ones!
Read also:
Welcome the Wealth to San Diego
San Diego Real Estate Market Wearing a Halo?
What Do Luxury Home Buyers Expect from Their Agents?
United States a Bargain for Luxury Homes?
Comments(28)