San Diego Home Values
San Diego County Residential Real Estate Market Analysis: 3nd Quarter 2011
By Mark A. Melikian California Certified Residential Appraiser appraisals@san.rr.com P.O. Box 3051 Del Mar, California 92014 858-793-9339
The following is a market data summary of detached and attached properties as reported by the San Diego County MLS system. The data includes all zip codes in San Diego County. * All 2011 data in figures 1 through 4 will be projected based on market data taken from January through September as reported by the San Diego County MLS system. All projections discussed in this analysis will be updated throughout the year in subsequent quarterly reports.
Market Overview: The data provided analyzes residential real estate sales beginning in the year 2000, which is used as the base year. The number of sold listings in San Diego County peaks in 2003 at 42,746 units and decreases through 2008 to 23,972 units. *The 2011 projection shows the total number of units sold for the year will be 32,089 (see figure 1). Read more 
4 Neighbor Factors That Reduce Your Home’s Value
San Diego real estate
My first house in San Diego was within walking distance of San Diego State University. It was on a nice little cul-de-sac street, and for San Diego, on a huge almost 1/3 acre lot.
It was while living at this home that I became keenly aware of the factors in one’s neighborhood that not only can have an effect on your home’s resale value but also on its marketing time.
Yes, every neighborhood has them, homeowners who, for lack of a better phrase, have no pride in ownership. Naturally, this varies widely from neighborhood to neighborhood, and individual homeowners. Read more
San Diego Real Estate – A Bottom … Not A Reversal
When the San Diego real estate market hits bottom, it will be just that, a bottom, not a reversal. Don’t believe that home prices will spike up and shoot back up to pre-bust levels any time soon! I find that highly doubtful even if the economy were healthy in other sectors because who is going to fuel this reversal? Will it be the people who have foreclosures and short sales on their credit history, or another group of salivating sub-prime buyers?
Credit is tightening up to the point that home buying is truly back to where you actually have to put 5 to 20% down and have a decent credit rating. That will restrict the pool of available buyers considerably, which will prevent another ridiculous up-ride on the home price roller coaster.
The “bottom” will be the new median home price, according to what the local marketplace and income levels dictate, with modest year to year appreciation.
Until the ‘real’ bottom is reached in the San Diego real estate market, expect many false upward spikes driven by people looking at only one set of data and incorrectly timing the best time to buy.
Related prior posts:
#1 Key To Purchasing Real Estate in the San Diego Market
San Diego California Home Sellers Lose Big
The San Diego California Real Estate Great Depression
Believe the local San Diego ‘experts’ that subprime delinquencies are slowing?
San Diego County Foreclosures up 125% from 2007
Jumbo Financing and the Impact on The San Diego Real Estate Market
Another Look at the June Rise in Pending Home Sales
San Diego Home Sales Take Huge Fall
San Diego home sale
The median price of a home in San Diego County increased 2.9 percent in October according to La Jolla-based MDA DataQuick. The same report showed home sales in San Diego County fell 25.1 percent in October, compared to the same month in 2009.
Trapped San Diego Homeowners
Bob Schwartz, San Diego California Realtor
Seems that all attention is paid to people who can’t afford to buy a home, even at the current depressed prices.
What about the large number of current San Diego homeowners with great credit, with the ability to comfortably meet a mortgage payment two or three times the one they are now paying? There are thousands, maybe millions, of homeowners who have outgrown their current homes, either physically or socially. They are held back by the drop in value of their present home. They have so much negative equity that they just can’t scrape together the huge pile of cash they would need to make a move. They sit quietly out of the market, making their monthly payments. They are the potential stimulus the economy needs to tap.
California Home Price Outlook
In the April 2010 issue of Money magazine, they produced a table projecting where home prices may be at the end of the year. We took the home values from six California cities in this data table and produced the graph below. The good news for San Diego homeowners is that they projected San Diego’s median home price to just decline -0.3%.
California Home Price Outlook
Orange County California real estate attorneys