San Diego Real Estate Investors Shift
I recently read an email from the California Association of Realtors about investors shifting away from the conventional single family homes and multi-family properties to more diverse real estate investments. The article went on to say that some investors are trending towards commercial real estate, land and mobile homes.
In 2013 78% of real estate investors buying real estate in California purchased single family homes. In 2016 this number is down to 70%. It also stated that a record number of investors invested from outside California, 15% from other states and 2.4% from foreign countries.
My add on this is that there may not be enough single family homes in some areas of California, like San Diego. There is a shortage of single family homes in many areas of San Diego with multiple overprice asking price offers on the properties. Investors may just be getting more creative and finding value in other areas like, commercial, land and other real estate opportunities. There has been such an increase in flipping and I mean large corporate flippers in San Diego County buying up what would have been great investments for investors and doing a turn and burn. Most of these flipped properties are not being purchased by investors but by your typical home buyer who intends to live in the property.
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The Lewis Team