Foreclosures and short sales have been a big part of the Downtown San Diego Real Estate Housing Market in recent years, but a new phenomenon is starting to show its face.
Half-built homes are starting to come out for sale as abandoned homes are
resurfacing on the market. While the idea of building a home that isn't fully
finished isn't completely new, the difference now is that many of these homes
no longer have the same builder around to finish them.
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Custom builders have gone out of business as they lost clients, and a half-built home may not be guaranteed to get finished.
Downtown San Diego Real Estate has definitely changed as many agents are now focused on selling half-built homes, short sales and foreclosures. Officials are not sure of how many half built homes are left in the USA but they have given many builders extensions for building permits in order to try and cut back on unfinished houses.
However, nationally we do know that the percentage of incomplete homes has definitely risen to over 40% as of the end of 2009, which is a rise from the 35% of new homes that was left unfinished at the start of the year.
The good news for Downtown San Diego Home Buyers looking for a home is that many of these unfinished homes can come at a very reasonable price.
Potential homeowners just need to be weary of exactly what needs to be done and also somewhat bring their own vision in terms of finishing a Downtown San Diego Home.
For further information on any Downtown San Diego Condos contact:
Gregg Neuman
1-800-221-2210
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