Is the sun starting to gleam in San Diego's real estate market's eye? Looking at some of the major financial report on the state of the real estate market, and more importantly the San Diego housing market, we see some positive news amongst bad news for other major metropolitan areas of the nation.
The Case-Shiller index is how the stock market tracks the state of the real estate market by tracking the 20 largest metropolitan areas of the United States and according to the latest report there were drop in 9 of the top 20 markets in this country.
The light at the end of the tunnel for the San Diego real estate market is that San Diego's market was one of only 4 markets that saw an increase from 2009 to 2010. California's real estate market has gone through some tough times and maybe just maybe we're seeing the end of the drop and beginning to see a steady and realistic climb back up.
This could be not so good news for buyers that are still sitting on the fence about purchasing a home. As we transition from a buyer's market to a seller's market there's a period of time were it's almost a stalemate. No one wants to make the first move and proclaim the swing in the opposite direction. The recent market has been in the favor of buyers but if these numbers continue buyers that don't act fast will be left behind once again.
Buyers have to look at the long term picture and not concentrate on whether or not they can sell for a profit in 2 to 5 years. The whole premise of home ownership is to have a consistent place to live in and raise a family, on a structured non-increasing payment plan and to avoid paying rent in the latter years of ones life when economics are more uncertain and fixed incomes are a possibility. My advice to any buyer still pondering the question of whether or not to buy is to talk to a REALTOR®. Every one's situation and circumstances are different so the answer to your problem isn't necessarily the same as it is for someone else. So, if you have questions contact us with your questions and we'd be more than happy to answer them.
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