San Diego Real Estate Bottom?

By
Real Estate Broker/Owner with brokerforyou.com CA Lic#00706331

San Diego real estate market… I have the idea that many think our economic downturn will last forever, near capitulation point, so all the doom and gloom today, is to be expected.

San Diego home sales

Even though I'm more optimistic than some, a mid-2009 recovery seems a bit early to me; late '09 or sometime in '10 seems more likely.

In Orange County Calif., housing economist Mark Schniepp said:Home sales sharply higher (to their highest levels since October of 2005). Prices appear to be stabilizing in some areas; overall, prices during February were not off as sharply as they had been. For the state, off only 2.2 percent from January. We appear to be at bottom in prices or nearly at the bottom; it is a regional issue now.

It is not surprising that 1st time buyers are jumping in. For years they were crowded out by speculators armed with easy money. There is certainly a segment of pent-up demand. All the same, the stock market appears to be bottoming out. It's getting pulled down by uncertainty more than anything; once that uncertainty is removed, it will start to recover.                                                        San Diego real estate market blog

close

Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Jared Schwartz 04/21/2009 10:56 AM
Topic:
Real Estate General Information
Location:
California San Diego County
Groups:
Realtors®
Blogging & SEO
Everything California
San Diego Real Estate Q and A
Tags:
san diego real estate
san diego real estate market
san diego housing market

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainer
23,573
Matt Heisler
Heisler & Mattson Properties - Southborough, MA
Real Estate & Investor Services

Let's hope so.  I think 4 years of a down market is quite enough!!

Apr 21, 2009 04:17 AM #1
Rainmaker
487,080
TIM MONCRIEF
Tim Monciref - Austin, TX
Over 2,000 homes sold…..

The one thing that I have learned over 4 down cycles is that the market will move when know one expects it to.  Of the last 4, all were forecast incorrectly.  The market will take care of itself.  It is impossible to predict as it is impossible to predict human behavior.  Tomorrow, everyone could wake up and think things are going to get better this year.....and with that thought, it will.  Just hope tomorrow comes soon.

Apr 21, 2009 05:41 AM #2
Rainmaker
335,143
Leslie Prest
Leslie Prest, Prest Realty, Sales and Rentals in Payson, AZ - Payson, AZ
Owner, Assoc. Broker, Prest Realty, Payson,

I hope your market is turning, as some of our buyers used toi come from your area when they sold there.

Apr 21, 2009 06:09 AM #3
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
73,001

San Diego real estate blog San Diego real estate agent

Ask me a question
*
*
*
*
Spam prevention