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Is that good?

By
Real Estate Agent with HomeSmart Realty West CalBRE #01458572

 

October home prices and sales data hit the newspapers this morning, and it's good news as far as I'm concerned.

Prices were down for the fifth consecutive month. That's good!

The median home price in San Diego County is $323,500, the lowest since 2001. That's good!

Prices are being driven down by foreclosures and short sales.

Almost 3,600 homes sold in San Diego County, up over September and higher than the past two Octobers. That's good!

Foreclosures and short sales made up half of those sales.

Almost 39% of homes available for purchase are affordable to San Diego households earning the median income. That's good!

That number is up from 27% last month and a mere 7% a couple of years ago. That's good!

Blame it on Bush. No, wait. Blame it on Obama. No, wait. Oh, I'm so confused. Is that good?


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Some of Jim's blog entries

  1. If you needed to hide from someone, could you do it in today's world?
  2. Loose lips don't always sink ships. Sometimes they just make you smile.
  3. How much sleep do you get each day?
  4. Are you prepared for an emergency?
  5. Tuesday laugh session with the "treadmill kitty cats"
Patricia Kennedy
RLAH@properties - Washington, DC
Home in the Capital

Over the years, I've preferred to work with buyers - somenthing that is much more fun today than during the last ten years! 

Nov 18, 2008 04:51 AM
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

Jim, Statistics answer several questions however there not always good at assigning blame or accolades. Your market looks very volatile right now, but not as bad as the stock market. Is the market at the bottom? California always leads the way for a recovery...

Nov 18, 2008 09:22 AM
Sidney Kutchuk - Realty Works Temecula Kutchuk - Realty Works Temecula
Realty Works Temecula - Temecula, CA
Realty Works Temecula

Who knows...It is a changing mess out there.   I was listening to FOX this morning and they are leaning heavy on keeping people in their homes if at all possible....So many foreclosures already.

Nov 18, 2008 09:46 AM
Justin Ukaoma
Vizion KC - Kansas City, MO
Kansas City Real Estate Investments

Looks like a great market if your a buyer. 

Nov 18, 2008 02:05 PM