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Old 01-25-2008, 12:50 AM
 
109 posts, read 532,200 times
Reputation: 40

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With all those rates going down in the financial world, how those this impacts the Real State Market in San diego county? Any suggestion from Realtors in San Diego? are home prices going down/up? Also why do sellers have a price range to entertain offers?.
Thanks.

Last edited by coolricks; 01-25-2008 at 12:53 AM.. Reason: Misspelling and additional questions thanks.
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Old 01-25-2008, 03:03 AM
 
Location: San Diego
936 posts, read 3,191,409 times
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first off, entertaining offers is just a gimmick for negotiating, usually incentives. the san diego county market has been slammed, though not as badly as the worst slammed cities in america such as detroit, las vegas, and miami, but san diego definitely falls in the top 10. i'd say home values here are down 15% from the peak in late 2005 to the current trough this month. i can see another 5 to 10% correction before a turn around. the subprime write-offs in this city were above average, especially in newer developed areas such as eastlake and otay ranch in chula vista. it's definitely a great time to buy now that bernanke and the board of governors lowered the fund rate by 75 basis points and are expected to lower the rate by another 1/2 point. since san diego is a very expensive city, jumbo loans are very common out here and when the mortgage meltdown hit in august of last year, a lot of jumbo loans went into default which seriously hurt this region so if u are looking to invest, start looking san diego is prime real estate! citigroup, merrill lynch, jpmorgan, etrade, etc. are all past their capitulations and their multi-billion dollar write offs are now the past. with these low rates, those companies will start fresh this year with great earnings in future quarters, so expect home values to stabilize and increase again later this year or early next year
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Old 01-25-2008, 07:46 AM
 
2,238 posts, read 9,017,965 times
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Here's a graph on resale homes in SD...
dec07hpimodel.gif (image)

You can get a lot of interesting examples of investors going under at Bubble Markets Inventory Tracking
The blogger focuses a lot on SD. Granted, he cherry picks his examples, but it's interesting nevertheless.
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Old 01-26-2008, 11:32 PM
 
109 posts, read 532,200 times
Reputation: 40
Thanks Guys for your reply's, I'm still working out the job offer they gave me, so I'm not in a hurry to move down there, but if I do for sure I'm go in to buy. The question is were I can get a great deal?!?!?
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Old 01-27-2008, 12:17 AM
 
Location: San Diego CA
1,029 posts, read 2,483,134 times
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Quote:
Originally Posted by coolricks View Post
Thanks Guys for your reply's, I'm still working out the job offer they gave me, so I'm not in a hurry to move down there, but if I do for sure I'm go in to buy. The question is were I can get a great deal?!?!?
Here is a link that is close to MLS here in SD.

Look by zip code and go from there:

SDLookup.com > Home
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