What a ride 2020 was! I’m sure many of you are glad that the year is behind us, but one of the things I took away from the experience was that we should be grateful for every moment we have.
There are no guarantees, but we can definitely guess what this year will bring in terms of real estate. With the pandemic and everything else going on in 2020, many people weren’t paying their mortgages, and there were a lot of forbearances. I believe that we’ll see some short sales and foreclosures, but not too many.
Why is that? Well, you have to remember that interest rates are low, meaning that the market quickly absorbs properties as soon as they appear. We can expect rates to stay as low as they have been through at least the first or second quarters of 2021; that’ll motivate the buyers to stay in the market and keep the economy rolling.
There are lots of people taking advantage of the market by buying investment properties. If you’ve got some money, people always need a place to live. The southeast San Diego area remains a great place to invest in thanks to gentrification and the area’s location.
That said, there are also still a lot of people moving out of the state, and we expect that to continue at a very high level here in 2021. I know quite a few people who are moving to Arizona, Idaho, Utah, and even North Carolina. Larger homes are still popular with those who are working from home. Bigger homes allow people to add things on, like ADUs, which can be used for gyms, office spaces, and more.
Now, let’s talk about our goals for 2021. In 2020, I helped over 53 families make great moves, and my goal for this year is to help at least 75. I hired a director of client success to help us elevate our service to the highest level of any real estate professional in San Diego.
If you’re looking to make a move or invest in a home this year, give us a call. We’d love to sit down for a short, 15-minute interview with you to see if we can help you reach your goals. Until then, we hope you have an amazing 2021! It’s going to be an awesome year.