Downtown San Diego Real Estate vs. Mutual Funds

The stock market has been doing well lately but we are so glad that we decided to pull out some money to buy our condo in Downtown San Diego.  We purchased it in August of 2010 for $524,900 and it now worth $724,900.  That is over a 38% increase.  Our mutual fund account has increased 8% over the same period.  Sure our other downtown property that we purchased in 2007 went down in value at one point 30% but we kept it and it is now par on what we paid.  Our mutual funds account did the same thing during that time. You also need to factor in the mortgage tax credit if the property is your primary residence or 2nd home.  It saved us $198/mth.
I don't understand why more people don't pull out $100,000 of their portfolios and purchase a little 1 bedroom condo in downtown San Diego.  The rental income will be close of offsetting any payments.  Even if you have to feed it a few hundred per month, the appreciation and tax advantage of owning a rental should be considered.  We furnished our unit and if it was every vacant, we just used it for ourselves and friends and a fun vacation spot.  Since the condos are small and you only own from the drywall in, the deposit you get should cover most wear and tear from the tenant.

 206 Park Blvd 307
 I'm not sure this little gem will be available next week but it is now.  We just listed this 887 -1
bedroom in Park Terrace for $367,500.  It is appointed beautifully and is an exceptional 1 bedroom.  It is on the opposite side of the building as Petco Park for less noise.  It has it's own balcony that views the new library.  It is coveted by students attending The Thomas Jefferson School of Law and you should get top dollar as a rental.  If you have at least 20% down to invest, you should take a look.
350 K Street 405
If you're looking for a good deal on a 2 bed 2 bath, we just listed today 350 K St. #405 at Crown Bay.  It's a 2 bed 2 bath 2 parking with $437 HOA's.  It's right across from the park and above Flemings Restaurant.  The dual side by side parking is a real plus.  2 private terraces.

If being a landlord isn't your cup of tea, we have an awesome property management service now.  NewWest Property Management is run by April Steingrebe and you will love her.  She gets flowers and compliments weekly from her clients.   With interest rates hovering around 4% now is the time to take that money out of the stock market and invest in Downtown San Diego.  619-995-1520 or marsha@sellsandiego.com