Obviously, no one can accurately predict when any market, especially the San Diego real estate market, will bottom and reverse course, except in hindsight. California real estate agents and brokers are continually advised not to give legal advice or financial planning advice. Perhaps, they should also be advised not to give economic forecast or predictions on market trends. I believe not giving this type of advice is implied by California law. *To view the full post, please visit the San Diego real estate blog at:
DataQuick, based in La Jolla, CA, reported today that sales fell 39 percent from a year earlier in Los Angeles, Orange, San Diego, Riverside, San Bernardino and Ventura counties. There were 10,777 homes sold in February in those six counties. Southern California's home sales volume has hit new lows every month since September.
For San Diego real estate, DataQuick reported 1,954 properties sold in February 2008. This was off by 31.7% from February 2007. The San Diego median home value for February was $515,00. This was down 13.5% from a year ago.
* To view the full post, please visit the San Diego County real estate blog at:
http://www.brokerforyou.com/brokerforyou
Countrywide Financial Corporation foreclosure rates in January 2008 doubled!. The rates of its 9.02 million mortgages rose to 1.48% from the January 2007 rate of 0.77% .
To me it looks like 2008 may mark the top in foreclosures and at the same time, build a base in San Diego California housing values. But, I do not foresee a big bounce-back in home values. This will take some years to put in a solid base in values. To view the full post, please visit, San Diego real estate blog
DataQuick Information Systems reported San Diego County's median home price last month plunged 13 percent from year ago levels and that last month's median home price was $430,000, compared to around $495,000 during the same time the year before. The San Diego County November median home price was 17 percent below the November 2005 top of $517,500. *To view the full post, please visit: San Diego real estate agent blog.
The url is: http://www.brokerforyou.com/brokerforyou
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