Portfolio diversification, tax advantages, long-term appreciating assets – these are only some of the benefits you get when you invest in real estate, especially in a city like Poway, CA.
But as with any other investment, it’s crucial to do your research beforehand. Before you start looking among homes for sale in Poway, here’s what you need to know:
The real estate market is calming down
After two years of the pandemic-induced housing frenzy, the U.S. real estate market is showing signs of slowing down in 2022. According to REALTOR Magazine, higher mortgage rates – due to the diminishing pandemic – might dissuade some buyers, which can lead to a 2-4% downturn in home sales. Prices will keep on rising because of demand and lack of inventory, but it is expected that it will eventually turn around by the middle of the year.
This is already reflected in San Diego County, where total home sales were estimated to be down by 11% in February 2022 compared to the previous year. However, it’s important to note that this decline is attributed to the low supply of properties under $500,000. The sales of homes priced $1 million and above were up by 38%.
Moreover, there are numerous new master-planned communities being developed throughout San Diego County, which can help ease competition between buyers and boost housing inventory.
Poway is now a “Million-Dollar City”
San Diego County is home to several prestigious communities. Cities like Rancho Santa Fe, Solana Beach, Encinitas, Carlsbad, Coronado, and Del Mar are six cities in the county that have reached or surpassed the $1 Million mark in typical home value. At the beginning of 2022, Poway joined this exclusive list with a $1.075 million typical home value, which is 27% more than the previous year.
Why should you invest in a high-value real estate market like Poway? Firstly, purchasing a property means that you also purchase the lifestyle that comes with it. A big part of why Poway real estate has a high value is because it offers a high quality of life, as seen in its place among Niche’s Best Suburbs to live in the San Diego Area (2022).
Secondly, high-end real estate investments can provide higher yields than stock markets, as well as less volatility. So, when traditional investments or stock markets fall, your real estate investment will bounce back better because it has a strong intrinsic value – due to its uniqueness and desirability – that surpasses the cost of replacement.
Poway has some of the best neighborhoods in San Diego County
The “City in the Country” is home to many great neighborhoods, each with its own character and amenities. Not sure where to start your search for homes for sale in Poway? Here are some neighborhoods you can check out:
Green Valley Estates
This exclusive enclave consists of award-winning designer homes and custom-built luxury properties. Most of the homes here are spacious, with living spaces that range from 3,000 to 10,000 square meters. Highly coveted home features like expert landscaping, chef-grade kitchens, spa-like baths, and chic outdoor lounge areas are some of the amenities you can expect during your homebuying search here.
Silver Saddle Ranch
True to its name and the classic Poway lifestyle, many homes here have a California ranch-style design. There are over 214 gorgeous estate lots in the neighborhood, with tree-lined streets and a trail system that residents can use for jogging, hiking, and even horseback riding. But the highlight of this established community is its location near top-ranking schools such as Painted Rock Elementary School, Twin Peaks Middle School, and Poway High School.
Bridlewood Country Estates
Sitting right next to Lake Poway and Blue-Sky Ecological Preserve, residents of this lovely, gated community enjoy a healthy lifestyle. The neighborhood itself maximizes the beauty of the surrounding natural landscapes with expert landscaping and mature palm, eucalyptus, and magnolia trees. Consisting of 87 custom homes, you can expect opulent amenities such as grand entrances, million-dollar views, private tennis or sport courts, luxurious pools and spas, and guest houses.