Attached is an ex-script about sales trends in San Diego courtesy of the National Association of Realtors and Yahoo. There are plenty of good buys, but how long will it last? This should give some indication. If you have any questions contact your trusted real estate professional. Chances are their guess is as good as any.
For those waiting for a bottom, consider where else in the world is a better place to live than San Diego County. Also, take into consideration that almost all foreclosures, in that hot segment of the market, sell for 98% of list price. In addition, many of the coastal area foreclosures get multiple offers. So it may be time to let that pent up need for a home along the San Diego Coast express itself. There are some fantastic buys to be found in Oceanside, Carlsbad and Encinitas but you have to be ready. Like my karate Sensi used to say “the time to strike is when the opportunity presents itself”.

Matt Woolsey, Forbes.com

Apr 10th, 2008

Will things pick up in North San Diego County Real Estate for the up coming spring season? There are some good indications that we will see some increased activity soon. First, interest rates are still near historic lows. Also, normal sellers have been noticeably absent from the winter market. Many listings are foreclosures or short sales. The average seller is gun shy about having to compete with these give away offerings. Soon pent up demand both to sell and buy will have to give way. Expect some good action soon. That’s my call.

The following information was reported from HomeDex for the month of January 2008.

· The median price for all homes in North San Diego County – single-family
detached and single- family attached – declined to $480,000 in January 2008 from
$485,000 in December 2007.

· The median-priced single-family detached (SFD) home in North San Diego
County decreased 1.14 percent to $562,500 in January 2008 from $569,000 in
December 2007. SFD median prices in Non-North County zip codes decreased
5.86 percent from $450,000 in December 2007 to $423,650 in January 2008.

· Median SFD prices in North San Diego County fell 10 percent from
$625,000 January 2007 to January 2008.

The median price fell 18.05 percent in Non-North County from $516,938 from January 2007 to January 2008.

Year end statistics have recently been released by Sandicor the regional multiple listing service for San Diego. A total of 30,500 homes were sold in San Diego County in 2007. Of that number 5200 were foreclosures. These numbers are fairly normal in any market. Even more revealing is that virtually all of the foreclosure listing sell at 98.2% of list price. Other homes on the market sell at an average of 95.5% of list price. The reason foreclosures sell so high is they are already priced to sell.