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Coronado real estate is a special, sought after commodity. Coronado itself is actually a peninsula, connected to mainland San Diego by the Silver Strand. On its family-friendly tree-shaded streets, there are lovely homes from spectacular mansions to quiet little cottages reminiscent of Victorian times. Coronado boasts real estate property for any taste.
- Coronado Real Estate
- Coronado Homes
- Area Information
Like many other premiere locations in Southern California, real estate in the city of Coronado is quite expensive. A small and very modest two bedroom home in the village can easily cost over $1,000,000. According to a recent County-Wide Zip Code chart published in the San Diego U-T newspaper in August 2006, the median cost of a single-family home within the city's zip code of 92118 was $1,605,000, as of July 2006. This makes it the third most expensive place to live in San Diego County and one of the most expensive in the country, as it holds a spot within the top 20 most expensive cities in the United States.
Humble Beginnings
In 1886 news leaked of a proposed hotel on Coronado to the local newspapers and this caused a great deal of excitement in the community. With the increased publicity surrounding this grand venture came new interest in planning development of the peninsula. Thus on November 13, 1886 the Coronado Beach Co. held an auction for the sale of lots ranging in price from $500.00 to $1600.00. By the end of the day, the Beach Company had sold 350 lots for a total of $110,000.00.
 Today Coronado is one of the most exclusive areas in America. Homes range in value from about $600,000 to many millions of dollars.
Purchasing Coronado real estate either as a residence or as an investment may be one of the most important investment decisions you will ever make. When purchased and managed properly, in the long run, a real estate investment can be one of the most profitable investments available. Generally speaking, the most important considerations are:
- Know how to analyze a property
- Know the market
- Know your limits (dollar and risk wise)
Many people ask how they can be confident they are paying a fair price for a property. A home is worth what someone will pay for it. Everything else is just a projected estimate of value.
To more accurately determine a property's value, most people turn to either an appraisal or a comparative market analysis. Olga Stevens Real Estate can help you with this. An appraisal is a certified appraiser's estimate amenities, energy efficiency, the quality of the of the value of a home at a given point in time. To make their determination, appraisers consider square footage, construction quality, design, floor plan, neighborhood and availability of transportation, shopping and schools.
A professional appraisers will also take lot size, topography, view and landscaping into account. A comparative market analysis is an informal estimate of market value, based on comparable sales in the neighborhood, performed by a real estate agent or broker. You can do your own cost comparison by looking up recent sales of comparable properties in public records. These records are available at local recorder's or assessor's offices, through private companies or on the Internet.
A hedge against the risk of the market may be to purchase property under market value because a particular property may have some cosmetic issues. Any increase in home value depends upon the same factors: quality of the neighborhood, growth in the local housing market (very local) and the state of the overall economy.
For current market information, please contact our office today.
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