San Diego Real Estate Market 2011 Outlook – Forecast – News
San Diego real estate market forecast 2011
San Diego real estate market forecast 2011
San Diego Real Estate 2011 – Year of the Short Sale
It’s that time of the year: The real estate industry is rolling out the shop-worn playbook of optimistic forecasts for the New Year. In San Diego these canned phrases are:
- Solid signs of a firming market,
- With interest rates near all-time lows,
- Buying now is a no-brainer,
- Get in now, before the huge pent-up demand for homes hits,
- What a great time to buy with low interest rates and a good supply of homes for sale,
- Act fast now, or you may be paying thousands more in a few months.
We have heard these same phrases since 2005. The major difference was that in 2005 and 2006 many of the Gurus were adding phrases: Read more 
San Diego Real Estate to Drop 20% in 2009?
With the industry talk of a possible San Diego bottom to the real estate market, is now the time to buy San Diego homes? It’s very possible they are correct! Who can really say? Everyone likes to be optimistic. With three years of a falling San Diego real estate market and home values that at 40 to 50% off their 2005 market highs ,we might see a market turn in 2009.
Sadly, I have my personal doubts on a significant San Diego real estate market reversal in 2009. I sincerely hope I'm wrong on this, and there is, in fact, a rebound next year.
Though it's not talked about much, there is another huge number of homes that may be newly heading into foreclosure which may accelerate the housing value decline. (There is a large number of regular adjustable loans resetting next year – for more information read: (Jumbo Financing and the Impact on The San Diego Real Estate Market.) If this occurs in the numbers forecast, San Diego home values could be down another 20-30% in 2009.
So, is it correct that if you buy today and plan to hold for at least five years you'll come out way ahead? Being just a local San Diego real estate broker and not an economist, I really cannot answer this question with any conviction. All I will say is that my three decades of real estate experience, and knowledge of the San Diego housing market, I can assure my clients that I will endeavor to achieve the best possible value, buying or selling, San Diego homes.
Prior related posts:
San Diego Real Esate Sales Increase
San Diego Condominium Sales Price Appreciation
29% of Homeowners Have Larger Mortgage Than Home’s Value
Real Estate Record Home Price Declines
San Diego Real Estate – 5th Largest Decline Through July
Southern California Home Prices Drop 34% in August
San Diego California Home Sellers Lose Big
The San Diego California Real Estate Great Depression
Yale Professor … House Price Decline Could Be Worse than Great Depression
Survey Says Home Values Must Fall Another 14%
California Home Sales Up 43.4% – Home Prices Down 40.3%
Home Value Loss … Homeowner Perception vs. Reality
San Diego CA real estate agents