Hi ALL,
I have been reading and seeing all sorts of stats and talking heads telling me how real estate is not going to get better in 2009. I am not sure my local experience agrees with that.
First, I have so many more buyers out looking for homes than I have had in the last 18 months.
Second, My company Zip Realty, for San Diego had a Record Breaking month of December in sales.
Third, Inventory levels for homes on the market have dropped in the last year here in San Diego.
and Finally, because the value of homes has declined from 10-40% here in San Diego, more people are finding good buys out there that they can't pass up. In fact, I was contacted by 2 people from Arizona, saying they are originally from San Diego, but moved because they could more easily afford to buy a home in Arizona then San Diego. But, now they are looking back in the San Diego market, because homes are now in their price range.
So, like I constantly say, real estate is local, and you have to see what is happening in not just a market, but sometimes in a neighborhood to really see what is happening. And... Most of our statistics, tell news that is 30-60 days old, and may not be reflecting the CURRENT trend yet. So, if you are thinking of buying or selling, do the homework for your area, for your particular neighborhood. That will give you a better understanding of what the housing trend is for your area.
And by the way...Everyone have a Safe, Healthy and Happy New Year!
Gerard Maher (G-Man) is a REALTOR in the San Diego area, specializing in residential homes in Scripps Ranch, Rancho Penasquitos, Mira Mesa, Poway and Rancho Bernardo.
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