I get asked this question every year without fail. I would have to say that my answer is always the same. You should buy a home when you're ready to buy a home. The answer will be different for everybody when asked that question. It's personal and depends on the factors of the individual or family. If the question is, "Is This a Good Time to Buy a Home in San Diego?" then I would have to say it depends.
The San Diego County real estate market is different in different areas of the county and in different price ranges as well as for homes and condos. In many areas of San Diego County including the Chula Vista area the 3 bedroom homes priced under $400,000 seem to be in high demand and when they are foreclosures and priced right they get gobbled up quickly. Since we are foreclosure REO agents in San Diego our Bank Owned Homes that we list in the $400,000 and under range sell fast.
In San Diego County the upper end homes which I'll categorize for this post to be over $800,000 have and will continue to drop in value through 2009. If there is a particular San Diego neighborhood or floor plan that you are interested in I would have to say that it would be a good idea to keep your eye or have your agent "ME" keep an eye on that area for well priced homes. They will drop in 2009 in many areas but this could be the window of opportunity that won't last forever. The government is spending a lot of money to stabilize the real estate market and when in does stabilize the upper end will too.
Condos are a bargain and will continue to get cheaper. If there is a particular complex, area, or floor plan you desire it will be bargain time for you throughout 2009. You can be picky in most areas with the condos because of the huge inventory to select from. My opinion is that if you can afford a single family detached home it is usually a better choice than buying a condo for resale reasons. For those of you who enjoy the ease of condo living the fruit is ripe so start looking in 2009 and pick the one that is just right for you.
2009 in San Diego will still be a buyers market.
Please use the links below to help you with your San Diego Real Estate Search and Information from your San Diego Realtor.
San Diego Real Estate San Diego MLS
San Diego Relocation San Diego Home Search by Map
San Diego Home Buyers San Diego Home Sellers
San Diego House Values Local Real Estate Information
San Diego Real Estate Blog San Diego Short Sales
San Diego Foreclosures San Diego Green Homes
All information is believed to be correct but not guaranteed.
Posted in Paradise Hills, Julian, Bonita, Mission Hills, East San Diego, La Mesa, Lemon Grove, Ocean View Hills, San Diego Real Estate News, San Diego Market Report, San Diego Real Estate Blog, Downtown, Vista, South Bay, Chula Vista, Central Coastal, North County Inland, San Diego Real Estate, Carlsbad, Oceanside, Rancho Penasquitos, Fallbrook, 4s Ranch, San Diego House Values
