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San Diego Real Estate Bottom?

San Diego real estate market… I have the idea that many think our economic downturn will last forever, near capitulation point, so all the doom and gloom today, is to be expected.

San Diego home sales

Even though I'm more optimistic than some, a mid-2009 recovery seems a bit early to me; late '09 or sometime in '10 seems more likely.

In Orange County Calif., housing economist Mark Schniepp said:Home sales sharply higher (to their highest levels since October of 2005). Prices appear to be stabilizing in some areas; overall, prices during February were not off as sharply as they had been. For the state, off only 2.2 percent from January. We appear to be at bottom in prices or nearly at the bottom; it is a regional issue now.

It is not surprising that 1st time buyers are jumping in. For years they were crowded out by speculators armed with easy money. There is certainly a segment of pent-up demand. All the same, the stock market appears to be bottoming out. It's getting pulled down by uncertainty more than anything; once that uncertainty is removed, it will start to recover. San Diego real estate market blog

Not a Foreclosure --- But, Priced Like One! 3Br. View Value!

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No, this is NOT a foreclosure....but, it's priced like one!
 
8028 Mission Vista Drive, San Diego, CA
San Carlos 3Br/2.5Ba w/Mountain & Canyon Views

*Seller will consider helping with Buyer's Closing Costs!

3BR/2.5BA Townhouse
 

Reduced Value Ranged $399,000 - $419,000

Year Built 1983
Sq Footage 1,538
Bedrooms 3
Bathrooms 2 full, 1 partial
Floors 2
Parking Unspecified
Lot Size 3,571 sqft
HOA/Maint $88 per month

 
DESCRIPTION

Most desirable and largest 3 Br. floor plan in Belaire! Semi-attached PUD w/Cent. Air! Premium location w/panoramic views! Newer (Apprx. 3Yr old) copper water pipes & newer roof! Fireplace, cathedral ceilings, 2 car attached garage! Two Br’s have been combined to make a very spacious 2nd. Br. (can be easily restored).

If you have a buyer who likes a view, this home will sell itself!! Newer Roof! Home has been totally re-plumbed with copper water pipes. Upgraded gas stove & space saver micro, breakfast nook, central air, tile & hardwood flooring, upgraded bath sinks, mirrored closets rear yard wood decking. This model combines warm traditional New England styling with modern space, beauty, convenience and efficiency. Spacious living room with dramatic vaulted ceiling. Good sized kitchen with Breakfast nook, Quality cabinets - tile counter tops and a water line for icemaker. Formal dining room bay window. A real feeling of spaciousness and style! All windows dual glazed for energy conservation. Attached garage w/opener & direct access into home. Spacious Master Bedroom! Low dues provide front lawn/greenbelt maintenance. Belaire is a world away in feeling...a world of green hillsides, natural canyons, the San Diego River, and a very attractive community. Right next door is the 5,700- acre Mission Trails Regional Park, one of the nation¹s largest urban-area parks, a preserved wonderland of rugged back country, deep gorges, wood-shaded creeks, lake and hiking trails. Truly, a very unique place to live and share in all that San Diego has to offer without a long commute. All measurements are approximate. Sq. Ft. per tax rolls. Seller to select all related services. Really a must see home and community!
 

 
see additional photos below
PROPERTY FEATURES

Central A/C Central heat Fireplace
High/Vaulted ceiling Walk-in closet Hardwood floor
Tile floor Living room Office/Den
Dining room Breakfast nook Dishwasher
Stove/Oven Microwave Laundry area - garage
Balcony, Deck, or Patio Yard  

 
OTHER SPECIAL FEATURES

+++Newer roof & cooper water pipes

 

ADDITIONAL PHOTOS

*View a video of this great San Carlos home at:

http://www.brokerforyou.com/san-carlos-del-cerro-sdsu-townhome.htm

Seller contact info:
Bob Schwartz
619-286-5604
For sale by agent/broker
Sponsors: San Diego attorneys - San Diego dentist
 
San Diego cosmetic surgery doctors
San Diego clinical trials
San Diego Lasik doctors
Equal Opportunity Housing
Posted: March 3, 2009         Search Engine optimization software

 

The Great San Diego Real Estate Bust

This is a must watch video, with a lot of solid points.

This real estate bust is NOT fair! Already the California legislature is considering a four month moratorium on foreclosures. In July, a new California law requiring lenders to try a number of times to contact homeowners prior to filing a notice of default has delayed the foreclosure process by 30 days. Plus, Obama is said to be in favor of a 90 nationwide foreclosure moratorium. With the average mortgage payments in San Diego running about $2,000 a month, who is paying for these moratoriums? Just one guess! To help, consider that the Government owns or will be buying these bad loans.

Why not just cut to the chase, and give the poor, misguided, troubled homeowners the homes for free? After all, the Constitution guarantees happiness, which in these days can be construed only to mean a big house, new cars, and lots of cash for lavish vacations. The poor want nice stuff as much as the rich, and they should have it. The rich guys shouldn't be the only ones who have convertibles and summer homes. Everyone should have those things.

Why should troubled homeowners have to leave their homes and go back to renting? Why wasn't the government watching out for them? It is just because no one watched out for them that they are now in trouble. If the bank was willing to loan all that money, why should the borrower bear any responsibility? Why are only a few people allowed to have what everyone wants? It isn't fair that only those with money are allowed to have a nice life when everyone wants to have a big house and new cars.

San Diego troubled homeowners should hang on; the Obama administration will turn this mess around. It looks like a 90 day nationwide foreclosure moratorium is assured. That should be followed about 60 days later, with another 90 day moratorium extension. Plus, if this plays out right, California should have its 120 day moratorium in effect by then. To be fair, I would assume the California moratorium will be in addition to the Federal moratorium. Those projected foreclosure moratoriums will run to about November 2009. Naturally, the government would not want to spoil the holiday period, so, somehow the foreclosures will again be postponed until 2010!

I’m just kidding with the above scenarios. We all know the San Diego real estate market is really on the verge of an historic ‘V’ shaped market bottom. In San Diego, by mid-2009, most real estate values will be appreciating by double digits! It certainly feels good to go into a fantasy world when talking about the San Diego real estate bust!

San Diego real estate market

San Diego Home Prices Drop 33% in October - Is A Bottom In Sight?

DataQuick, a San Diego based real estate tracking company released a report showing the median price for homes and condos in San Diego California tumbled to $300,000 last month from $445,000 in October 2007.

The good news is that there were 21,532 homes and condos sold in Southern California last month, up 67 percent from the year-ago period.

 

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