As we begin the new year, it’s the perfect time to look back and reflect on where the housing market landed and begin to look ahead for what to expect in 2022. This past year was notable for many reasons, from more lockdowns to the remarkable growth in the housing market, it’s a year to remember. If you’re thinking about buying or selling a home in San Diego, you’re going to want to read this overview of the housing market first. Let’s dive into the market recap and outlook for 2022 so you know what to expect and can find out when it’s going to be the best time to sell or buy a home in San Diego.

You’ve probably heard about the 3 LLL's in real estate: Location, Location, Location, but have you thought about why it’s actually so important? Well, for one, you can always change the house—you can remodel, re-shape, and renovate—but unless it’s a mobile home, you can’t ever change where it’s located. 

Buying a home in San Diego is going to be a great investment as home values continue to rise, but the question is, which neighborhood? Purchasing in certain areas can be better investments than others, and since this is the place you will be living, you want to make sure the location suits your lifestyle. The surroundings of a home matter, not just the property itself. In San Diego especially, there’s a lot of variability between neighborhoods, even just a few miles apart, so it’s important to evaluate the whole area based on your needs.

Here are some of the considerations about your home’s location that have the biggest impact:

We’ve all probably spent more time in our homes throughout this last year than we ever have before. With the covid restrictions starting to lift in California, and as more and more people are getting the vaccine, it’s beginning to look like we might actually have a summer coming up where we can all get out of the house! 

As you look forward to all of the warm and sunny days ahead, here are a few upcoming activities in San Diego that you can add to your calendar. All of these events take place outdoors, so it’ll be covid-safe fun for you and your family. 

During the 2020 election, a ballot measure for Proposition 19 was being voted on in California. In short, what this measure proposed is that, if approved, it would give tax breaks to older homeowners and would affect how inherited properties are taxed. In a close election, the measure passed with a 51% majority vote and will go into effect in 2021. The changes to inherited property taxes will apply beginning on February 16, 2021, and the changes to property tax transfers for older homeowners goes into effect April 1, 2021.Whether you’re a homeowner currently or are thinking about buying or selling a home in San Diego, you should be aware of the key changes that will be in place next year as a result of Prop 19. Here are the benefits of California’s Proposition 19 and everything you need to know about how it changes the law surrounding real estate ownership and tax implications.