San Diego on Target for Low Prices and High Volume Sales in 2009
San Diego is ripe for a great 2009 in the Real Estate Market.
Prices are low and falling in the upper end price ranges and coastal communities. Interest rates are falling and should stay low through most of 2009. With the continuing foreclosures and the government helping homeowners and the economy out – here and there – the real estate in San Diego for 2009 should start the stabilization in the lower price ranges of single family detached homes. I’m starting to see it already and the entry level homes should continue to level off in many areas of San Diego through the 2009 real estate year.
It doesn’t mean that all the news is great and everything in real estate and the economy is just fine but it is the start of the next market. Once the entry level home prices stabilize it will have an effect on the entire market. Many “on the fence buyers” should jump into the market in 2009. With a new president in the White House this should calm the uncertainty of the whole election issues we’ve been focused on for the last 2 years. Many buyers who short sold their homes in 2006 and 2007 will be able to buy again. The investors have been pulling money out of their roller coaster ride on Wall Street and are deciding that real estate is a better more tangible item to own, especially real estate in Southern California.
Are you considering the purchase of a home or condo in San Diego in 2009? If so contact us for a one on one Q & A.
