SCOTTSDALE, Ariz. — Some Valley homebuyers are settling for a little less land.
RealEstateConsulting.com said that in places like San Diego, homes on mid-sized lots in the 5,000- to 6,900-square-foot range are selling better than lower priced homes on smaller lots and higher priced homes on larger lots.
Here in the Valley, Real Estate expert Dean Wegner said many homebuyers are also opting for mid-sized lots.
Wegner said that people used to buy a house on a big lot, then take out a second mortgage to put something like a pool on that lot, but that’s changed.
“The financing isn’t there anymore,” he said. “Along with it went the dreams of doing these grandiose home improvements. They’re going for the mid-sized homes.”
Wegner said if homebuyers can make a deal with their builder to include a pool, they often get one.
Wegner said he knows first hand that mid-size can be better.
“I used to own a 5,000-square-foot house on an acre, and it ate money,” he said. “Now I live in a 2,500-square-foot house on a medium-sized lot. It works out great.”