San Diego: Vibrant downtown San Diego has become the "in" upscale place to live for many thousands. Condominiums there have benefited as a result of the dramatic revitalization of the "neighborhoods" of Little Italy, Cortez Hill, Columbia, Marina, Horton Plaza, Gaslamp, East Village and Core, fueled further by the spectacular success of the San Diego Padres' Petco baseball park.
Downtown condominium resale inventory has declined somewhat and is currently in the upper 500s.
San Diego County: The greater metro San Diego real estate market is still a strong "buyers' market." Prices do not apepar to have yet "bottomed out." Prices appear to be at levels 15 + percent lower than a year ago. The proliferation of "bad news," economic uncertainty and rampant foreclosures and short sales have created a "fear" environment for local real estate.
Residential mortgage interest rates continue to edge downward and are in the low six percent range for fully amortized conforming 30-year loans.
Developers incentives continue and are resultilng in reduction of new home inventories.
This is a remarkable window of opportunity for home-buyers, particularly first-time home buyers, to purchase: "Buy on bad news. Sell on good news."
Investors are now cautiously returning to the San Diego market as rental rates edge up against declining sale prices.
Homes that are priced at market, well-preapred for sale, and assertively marketed are selling readily.
We pride ourselves on making buying and selling real estate an enjoyable experience. Kindly visit our testimonial page to read what real people have to say about our commitment to service. Whether buying or selling a home or other real estate property, please call [619-390-9578] or E-mail [maxricketts@cox.net] us to discuss your real estate needs at a time convenient for you.
About Max & Edith Ricketts:
Over 35 years of personal and professional real estate brokerage service. Making buying and selling real estate an enjoyable experience. We serve all of San Diego County, Orange County, Riverside County and North Los Angeles County (Palmdale and Lancaster). Please call us at (619) 390-9578 to discuss your real estate needs - at a time convenient for you. Or, E-mail us at maxricketts@cox.net. Kindly visit our testimonial page to read what real people have to say about our commitment to service.
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
