What $400K will buy: Chula Vista, Calif.
|This traditional three-bedroom stucco is 10 years old. The entryway with hardwood floors opens to the living room with designer paint, custom blinds, hardwood floors and built-in bookcases. The family room features hardwood floors, surround sound and a ceiling fan, plus a brick-accented corner fireplace that burns gas or wood, says Patti McKelvey, Realtor with McMillin Realty. Kitchen includes breakfast nook, tile countertops, built-in microwave and hardwood floors, and it opens to a back yard with freestanding deck. The master bedroom has upgraded carpet and custom window treatments, plus a bath with separate tub and shower, walk-in closet and tile flooring. The community offers four parks, each with a pool and spa facilities. Community dues are $90 per month.|
|3 bedrooms/2½ baths|
|1,730 square feet|
|Features: Powder room with customized white vanity, matching mirror and fixtures, front porch with sitting area, manicured lawn with palms and two-car garage.|
|Listed by: McMillin Realty (Terra Nova office)|
What you could buy in San Diego for $400,000 a year ago.
|In the greater San Diego area, buyers have plenty of options for $400,000, says McKelvey. Buyers can go 15 minutes north of San Diego to Rancho Penasquitos and find a three-bedroom, two-bath house that's 5 years to 10 years old, she says. Or they can go to North Park, in the heart of the city, were $400,000 would buy a well-preserved, well-maintained three-bedroom house from the 1950s or 1960s. In Mission Valley, also in the heart of San Diego, that price would buy a 1,700-square-foot, three-bedroom condo that's about 15 years old, she says.
The median home price in the San Diego-Carlsbad-San Marcos area was $385,600 in 2008, according to the National Association of Realtors. Median home prices dropped 34.5 percent during that year.
Buyers are getting a lot more for their money this year, "probably 30 (percent) to 40 percent more," McKelvey says. "This is a wonderful time for these buyers."