We hope this finds you enjoying a great start to 2009 !
We thought we would pass along yet another article which seems to indicate we might come out of this housing slump in 2009. While San Diego was one of the markets that started the housing value declines, many economists believe that San Diego will be one of first to recover. If this is true, then we all know people will start buying homes en-mass at one time, driving up prices.
We often get asked “when will I know when housing hits the bottom” and our answer is “when it is going back up again”. Keeping this in mind, it seems to us the best time to buy is while it is still going down when there is no competition, mortgage rates are low (like in the mid 4’s now!) and sellers are more willing to deal in most cases. Call or email us if you know anyone who is thinking of buying or selling a home, we’d be happy to assist them.
YEAR END MARKET STATISTICS:
The San Diego County real estate market ended 2008 with the median price of single-family homes rising for the first time in seventeen months! Year-over-year home sales were up for the eighth month in a row, by 73.1%! If we’re not at the bottom of this downturn, we’re pretty close.
If you click here you can view the article.