San Diego Real Estate Market 2011 Outlook – Forecast – News
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 Home Sales Take Huge Fall
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.
San Diego real estate 2010 2nd. Half Outlook … double-dips
San Diego real estate market … double-dips!
San Diego home prices have risen for eleven consecutive months. Most major media outlets in San Diego are proclaiming that our real estate decline bottomed in April 2009.
A recent headline noted San Diego real estate price appreciation outpaced the rest of the nation. Another headline stated that San Diego County house prices rose 11.7% in April 2010, as compared to April 2009. This was proclaimed to be the fastest rate of annual appreciation increase in the nation. Plus, San Diego County home prices have been rebounding for the past year after their 40% decline from the top of the market in 2005. Read more
San Diego Housing Values Outlook
I can give about 10 good reasons on why buying San Diego this year may not be the optimum time:
1- Interest rates will eventually rise
2- Massive foreclosures flooding the market over the next 24 months
3- Federal stimulus is ending (though it could be extended)
4- Unemployment at 10% (In reality this is most likely closer to 17%) and rising
5- Pay cuts to those who are working
6- Next to impossible to get a loan without 20% down – who has that kind of cash laying around these days
Read more
San Diego Real Estate Recovery in 2009?
Top this off with the fact that in 2009 we will see more "regular' adjustable home loans come up for their first adjustament than all the subprime loans of the past two years. With today's lower rates it may not be the 'rate shock' that is the problem, but the fact that many homeowners will, for the first time ,realize that their San Diego home is worth tens of thousands less than their loan balance.
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A tinge of yellow — Greater Fool – The Troubled Future of Real Estate – In reality, it’s a godawful time for real estate, and it’s going to get progressively worse through 2009, for the reasons we have exhausted on this blog. Chief among them will be unemployment, as witnessed by the layoffs just announced …
Will 2009 be a Bull or Bear year? | Real Estate Buzz – McGrath Real Estate chief executive John McGrath is confident about the health of the market, predicting bargains aplenty in suburbs such as Vaucluse, Hunters Hill, Longueville, Northwood, Northbridge, Cremorne, Mosman, Avalon, …
INTERMEX POWER: Who Saw The Housing Bubble Coming? – While conceding that economic fundamentals were favorable to rising home prices, they also noted that there were elements of bubble psychology in the housing market. Case and Shiller pointed to an increase in the buying of real estate …
Tucson Real Estate Plunges January 2009 | Tucson Real Estate … – The Phoenix real estate market is not the Tucson real estate market. You can draw as many valid conclusions about the conditions of the Tucson real estate market from a housing report from China as you can from Phoenix. …
New Jersey Real Estate Report » A good time to buy? – No one should be surprised the real estate market has turned to sawdust. Home sales in New Jersey are expected to finish 2008 at just 68000, down 20 percent from the 85000 sold a year ago, said Jeffrey Otteau, president of otteau.com, …
Housing Bubble – Daily Digest – Jan 3 – – Jan. 2, 2009 | Blogs at … – It's an understatement to suggest residential real estate was either directly or tangentially very important to both economic and financial market outcomes in 2008. It has been the cornerstone of solvency, or lack thereof, …
Toronto Real Estate Intelligence | Toronto's Real Estate Blog … – While the sellers' market made some Toronto homeowners arrogant in the past, every offer made this year has to be treated with respect. January 3, 2009 in Toronto Real Estate Trends | Permalink …
St Cloud MN Real Estate Blog » Blog Archive » 3rd quarter 2008 … – We have seen the end of a crazy period of time both in the real estate market and in the stock market. It is truly amazing how things can change so fast. Click on the file below to see the overall real estate sales statistics for St …
10 FDIC Charts and Graphs Highlighting Bank Problems: FDIC … – Yet the true bank failures will be hitting in 2009 with the bust of the commercial real estate market. In this article, we are going to examine the makeup and anatomy of our banking system with data and charts from the FDIC. …