Depressing Times
This has been a depressing time, particularly for those of us in the real estate industry. Well, in fact, for everybody! The economic crisis has spread around the world, and few are immune to its devastation. I have watched so many lose their homes whether through foreclosure or being forced to sell short. Lovely families with small children, elderly who had recently downsized, up and coming yuppies who had bought their first condo. Even those San Diego homeowners whose mortgages are of the good old fashioned 30 year fixed variety are struggling because they have lost their jobs.
Wide Range of Price Adjustments
In San Diego County, the drop in real estate values spans the gamut. I've seen as low as 10%-15% adjustments in some of the coastal communities like Del Mar, Solana Beach and Carmel Valley; 50% in several areas with lots of newer track homes like Chula Vista and San Marcos; and as high as 70% drops in some areas like Vista, Fallbrook and Oceanside.
The Silver Lining
So can there possible be a silver lining to all of this? Read the full post at my main blog www.DelMarCaliforniaRealEstateSearch.com.
Comments(0)