Mapping the Gold Mines – A Prospector’s Delight

This is California.  Gold mining country.  Home of the forty-niners and the place where some 300,000 people from across the Americas flocked to discover fortune and fame.  That was in the mid-1800’s and people keep coming even now despite the fact that the rush has long been abandoned and it costs a gosh darned fortune to live here.

If you read my recent article Jaw Dropping Deals, you already know inventory below $300,000 is a rare find in certain neighborhoods.  However, there are distinct pockets of affordability and foreclosure related buys.  In San Diego, those are primarily concentrated in South, East and North Central sections of the county.  I rarely have much difficulty finding a few East of North Park, but I almost never find good prospects in Hillcrest or Ocean Beach and almost never in the more desirable north county coastal areas.  What I do find in those places is usually stuff only a fool or visionary would touch.

When you search in certain areas you will find many more opportunities.  In Chula Vista for example, I found one, two, three, four, five bank owned properties in no time at all.  Same thing in Spring Valley and Escondido.  I don’t usually like to recommend these kinds of purchases because they can be laborious, time consuming and frustrating to buy.  However, if you’re looking for a bargain in distressed real estate and you’re willing to trudge through some of the muck for a really fantastic opportunity, these are some places where you will surely find what you’re looking for.  But take it easy people, this aint no gold rush and I don’t want you trampling over these poor folks.  Yell Eureka when you’ve got one and we’ll know you did good.

Recent San Diego Sweet Digs Posts:

Huge Reductions on San Diego Homes – Walmart’s Not the Only One with Falling Prices

Monday Madness: Eating Lemon Grove, Part 2

Debutante’s Ball – Come Dance With Me

Mixed Messages and Puppeteer Pricing