Fewer Apartments in Southern California are for Sale

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Real Estate Marketing Insider comments on reports the available inventory of rental properties for sale is low in Southern California.

REMI's Mr. Nergarden released his observations on the lack of apartment and other rental properties for sale in Southern California today, and his opinion is that this will help home sellers, especially those who own a property that could be turned into a San Diego beach rental.

U-T San Diego reports that in throughout Southern California, there is a death of apartments for sale. At the same time, there are more investors who are attempting to take advantage of rising rents and purchase these properties. Before the collapse of the housing market, San Diego County saw an average of 400 units sold each year. Since the beginning of the current economic crisis, the number has been far less, and the current rate of 300 units sold a year is the highest it has been in some time. For this reason, many investors are choosing to build apartments, as is the case in Kearny Mesa. Many apartments under construction in the San Diego Metropolitan Area will hit the market in 2012 and theoretically increase the inventory of apartments for sale.

San Diego County is located in the southwestern corner of the United States and for that reason, is economically tied in many ways to the Tijuana metropolitan area in Mexico. San Diego County features several military installations and bases, which also helps to drive the local economy. Aside from that, San Diego County is highly populated and fairly affluent, with a larger population of political conservatives than many other areas in California.

Kearny Mesa is a community that is considered an employment hub in the San Diego area with many jobs and access to both the city of San Diego and Mission Valley. The community is located near the former location of Camp Kearny, a military base that existed until the end of the Second World War.

San Diego is one of the 20 largest cities in the United States and has been growing steadily in recent years. Part of this is due to the mild and pleasant climate in San Diego, although the area is dry and subject to occasional brush fires. San Diego is also a fairly safe city, listed in 2010 as one of the top ten safest major cities in the United States. The port of San Diego is very deep, which means that it can function as a submarine construction area, the only one on the west coast of the United States.

Real Estate Marketing Insider today commented on the lack of apartments for sale in Southern California and concurrent rise in the number of investors. To read more about REMI, visit http://realestatemarketinginsider.com/real-estate-leads/.

About Real Estate Marketing Insider:

Real Estate Marketing Insider is a publication providing tips, strategies, and in-depth analysis to real estate professionals. REMI is based out of La Jolla, California.

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