Chula Vista, California

For 2018, $532,100 is the house worth median in Chula Vista, California. 6.9 percent is the amount the home value has increased in the last year. It has been forecasted that the value of homes will increase in the following year by 5.2 percent.

Per square foot, the list cost median is $288 in Chula Vista. The Metro Area of San Diego-Carlsbad Metro has a higher per square foot list cost average of $377.

$542,450 is the cost median of homes listed presently in Chula Vista. $496,500 is the cost median of homes that have sold.

In Chula Vista, the rent cost median is $2,450. The San Diego-Carlsbad Metro Area has a higher rent cost median which is $2,700.

A key element to the real estate economy is the rate of foreclosures. The greater the amount of foreclosures in a location, the lower the value of real estate for that location. If the foreclosure rate for much of the nation is exceedingly high, an economic recession might occur.

In Chula Vista, CA for each 10,000 houses, 1.5 go through foreclosure. The Metro Area of San Diego-Carlsbad Metro has a lower foreclosure rate of 0.8 houses foreclosed for each 10,000 houses. The United States has 1.6 houses foreclosed on for each 10,000 houses.

When a homeowner goes through foreclosure, there is a first step in the process on the way to foreclosure. Avoid this first step and you do not experience foreclosure.

This first step is called mortgage delinquency. Mortgage delinquency can be defined as the condition of a homeowner not making good on one or more payments on their mortgage.

Bankers are very concerned when there is a mortgage delinquency. This is because they could think that the owner is having a tough time paying bills, and may miss more mortgage payments.

Too many missed mortgage payments means foreclosure. Banks dread foreclosures because they cause financial loss for banks. Too many foreclosures and a bank could go out of business.

That is what happened in the 2008 recession. There were so many foreclosures on homes that many banks went out of business.

Unless you absolutely have to, it’s best not to miss making a mortgage payment. Besides, a big problem with mortgage delinquencies is the lowering of credit scores they cause. And mortgage delinquencies could prevent customers from qualifying for loans. Credit Bureaus look at mortgage delinquencies as a serious matter.

1.2 percent of Chula Vista, CA homeowners are experiencing mortgage delinquency. The United States has a mortgage delinquency rate of 1.6 percent.

The 2008 recession caused the value of homes to drop a greater amount than 20% in the United States. And from that recession many home owners are currently experiencing being underwater on their mortgages.

Being underwater on a mortgage, means that the owner of a home has a larger mortgage debt than the value of their house.

7.6 percent of Chula Vista homeowners are experiencing being underwater on their mortgages. The Metro Area of San Diego-Carlsbad has a lower underwater rate of 6.2 percent.

The Median annual household income of Chula Vista CA is $66,110. 

Let’s move on to commercial real estate. We are going to look at a Chula Vista, CA event in the area of industrial realty.

An industrial building in the city of Chula Vista California sold for a price of $2.2 million.
Its address is 696 Naples Street. The property sits on 1 acre, and it has 12,140 square-feet of space.

This industrial property has within it a 7,500 square foot yard area that has access to the features of dock and grade level doors.

Health Advances USA Inc. was the seller, and it’s in Chula Vista. Located in San Diego is the buyer, Happy Puppy Properties LLC.

Representing Health Advances USA Inc was Garrett Sholer and Trent France of Lee & Associates North County offices.

Representing Happy Puppy Properties USA Inc was Voit Real Estate Services.

Apartment Loan Store is proud to serve the entire Greater Chula Vista area:

• National City
• Bonita
• Imperial Beach
• Coronado
• San Diego
• La Presa
• Lemon Grove
• Spring Valley
• La Mesa
• Rancho San Diego
• El Cajon
• Bostonia
• Santee
• Lakeside