The San Diego Special Edition – June 18, 2007
Welcome to the June 18, 2007 San Diego Special Edition. This is a monthly gathering of San Diego bloggers, as well as bloggers visiting San Diego. The San Diego Special Edition gives all of our readers a wider range of voices of San Diego. If you like what you read, please let the writers know, and subscribe to their blogs too.
Attractions
Steve Johnson presents Summer Fun on Coronado Island posted at eCoronado.com, saying, “Coronado Island is one of the best places to explore or enjoy during the summer. This post highlights some of the local faves.” If you’ve never visited Coronado Island, it’s really a must-see for San Diego visitors, but first, read all about it at eCoronado.com.
Carole Lane (yes, that’s me) presents Desertscapes: Capturing Light and Shadow, a photographic exhibit by Peter A. Nagainis, currently showing at the Oceanside Underground Photo Gallery. We’re just as proud of the local talent as we are of our climate and attractions, and it’s so nice to show them all off.
Family
If you’re looking for things to do with kids and family this summer, San Diego is overflowing with fun.
Jennie Starr presents World Beat Center – Drum classes posted at San Diego Mom – Carmel Valley. Doesn’t that sound like a great time? Jennie has lots of other ideas for family fun, so be sure to check out her blog.
Meanwhile, over at San Elijo Life, Hills Local presents Musings of a San Elijo Father. His San Elijo Life Videos are also worth a peek when you stop by to learn more about living in San Elijo Hills.
Economics
Maria Palma at Home Solutions San Diego: Real Estate and Home Decorating Resource writes about San Diegans Heading to Mexico For Real Estate this week. Can you imagine retiring in a foreign country – about an hour from home?
On the other hand, if you’re thinking of moving to San Diego, Dan Melson presents State of The San Diego Market June 2007 posted at Dan Melson’s San Diego Real Estate and Mortgage Website. Website? I thought this was for bloggers! You’re right, but his site does contain a monthly blog on this topic, so it’s okay with me if he wants to be included here. After all, for those hoping to move to (or away from) our fair city, the real estate market is important.
That concludes this edition. I hope you enjoyed hearing from some of the other bloggers in the San Diego community.
If you’re a San Diego blogger, mark your calendar for the 15th of each month, and submit your blog article to the next edition of The San Diego Special Edition using our carnival submission form. Past posts and future hosts can be found on our blog carnival index page.
4 Comments
The Median Home Price Does Not Matter At All
Everyone knows that the median home price in San Diego is well above $500,000. The high median home price is often cited as being the main reason that San Diego is unaffordable for first time home buyers. Taken at face value, the statement appears to make sense. Upon further examination however, that statement proves to be incorrect and very misleading. The major reason that the statement misses the mark is that first time home buyers almost never buy homes near the median price. The median price does not apply to them at all. First time home buyers are buying homes priced much lower than the median. Typical San Diego first time home buyers purchase condos in the range of $200K to the low $300Ks. Houses bought by San Diego’s first time home buyers are normally priced in the low $400Ks. It is rare for a first-time home buyer in San Diego County to purchase a home near $500,000. An important point to remember is that first time home buyers are purchasing starter homes, not their dream homes.
The median price is defined as the price point at which half of the homes are sold above and half are sold below. First time home buyers normally purchase nowhere near the median price. A price point that is much more indicative of affordability for first time home buyers would be the median price of home in the overall lower half of home prices.
Other factors that make homes considerably more affordable than many renters think are the tax advantages of owning and the increased availability of first time home buyer assistance programs. The tax advantage can typically put an extra $200 to $400 of additional after-tax money into a new home owner’s pocket every month. First time home buyer financial assistance programs enable nearly any renter with reasonable income, responsible use of credit, and a little money saved up to become a home owner.
The real concern for the first time home buyer should not be the median home price but what overall payment would the buyer feel comfortable with and whether any acceptable homes are available in that price range.
by Mark Harmon
http://www.1866SwiftSource.com
Thanks for your input, Mark. While I agree with you that the median price is not necessarily the primary concern for a first time homebuyer, it is an indicator of the stage of the market in our area, and can be compared to the median price in other markets.
There’s no need to argue about the cost of a home being high here; we all know that it’s considerably higher than in many areas of the country. That’s what we get for living in paradise, right?
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