Why Would Anyone Want to Buy a Home in La Jolla, CA Now? It is a question I get asked often, especially from online prospects and open house lookers in La Jolla.
The answer is, it depends.
There are several reasons why buying a home in La Jolla is a bad idea now.
1. You don't have a need for near perfect weather, to be near the ocean, or to be in an excellent school system.
2. You haven't been pre-approved for a loan and really can't afford to buy in this upscale market.
3. You are likely to be in your house less than three years.
Why buying a home in La Jolla now is a great idea.
1. You are active and like to participate in outdoor activities including those on the water.
2. You have or will soon have school age children who can take advantage of the amazing school system.
3. You plan on being in your home for at least five years and are buying with the hope of making a profit.
Short term trends are hard to predict but historically, buyers have made tremendous money in this market when they have resold 7+ years later.
Bottom fishing for a value is great but what if interest rates go up while you are waiting? Read what the LA Times had to say about timing.
Specifically in La Jolla:
Data from Sandicor
How about the average price in La Jolla? To see how that has been trending over the past 5 years, click: Sale Price Trends in La Jolla
So, only you can answer the above questions Why Would YOU Want to Buy a Home in La Jolla, CA Now?