Robert T. Boyer, Ph.D., real estate Financial Planner for San Diego’s Finest Real Estate, expects 2008 to be a better buying year than anticipated. www.SanDiegosFinestRealEstate. com
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#1 by YKAEYA on November 25th, 2009
a little bit lower! were in 1999-2000 prices and banks are holding off nod’s dont be foo;ed this is not a bottom median s.d should be 220k
#2 by boyerro on November 25th, 2009
I’m in the middle of writing a blog post right now. If, instead of looking at physical location, we look at price point, there seem to be three different markets. We actually have a sellers’ market for single family detached homes from $200K to $450K (that is 3 months or less inventory). 450K-700K is a more normal market (3-7 months inventory) and above $700K we are looking at at least 7 months of inventory. Attached homes have at least an extra month in all price ranges. But the moratorium
#3 by boyerro on November 25th, 2009
I spoke with an asset manager today. Despite the 2002 prices and terrific interest rates, he sees several more years of foreclosures coming our way, peaking in the next 9 to 14 months.However, as I’ve been out in the market with clients, I keep running into bidding wars, with 3 to 20+ offers on most properties. The investors seem to be trying to define the bottom because they can get a positive cash flow on rental properties on San Diego real estate
#4 by BlackMask2012 on November 25th, 2009
7/1 ARM at 6% LOL. People just buy with 30 yr or 15 yr fixed.I’m buying next month because it’s cheaper to buy then to rent.  I’m getting less than 5.5 30 yr fixed with ZERO downpayment.
#5 by Mariekeys1 on November 25th, 2009
I give you credit for your reply. But, these ‘long term you’ll be ok’ remarks are just BULL! Who wants to take a 30-50% one year loss? Yes, many condos in South Bay are now off 50% in ONE YEAR! Since 2005, who would not have been better off renting? Now, really was this a news interview or an info-commercial?
#6 by Mariekeys1 on November 25th, 2009
This PHD is just promoting (his?) a real estate website! But, the headlines today 12-30-08 (Home Values Fall 18% in October) show how WRONG this PHD’s forecast was wrong! The fall for San Diego was larger than the national average of 18%. In San Diego, the average home drop in 2008 is around 30%!!! So, on a $500,000 home purchase in Jan ‘08 you may now have lost $150,000! But, keep in mind what this PHD said in ending..buying San Diego real estate in 2008..YOU WON’T GET HURT!
#7 by boyerro on November 25th, 2009
Take the comments in context please. The _prediction_ was that IF you are going to stay in your home 5+ years, it is an OK time to buy and “you wouldn’t get hurt.” Hindsight is simply marvelous. I wish I could have been interviewed after the fact. I did say prices would continue to slip. I admit I underestimated. Apparently I wasn’t the only one; I think the entire world (at least 99.99%) missed the mark predicting the credit crisis meltdown that reamed everything starting mid to late summer.
#8 by gworthey on November 25th, 2009
9 months later… financial collapse continues, now on wall street, and around the world. Inflation burgeoning. San Diego median home price down from $430k to $380k–that’s more than 10% in 9 months. Foreclosures have temporarily slowed while lenders comply with new California regulations. Investors take their pick (firesale for the rich), but it’s apparently going to be raining foreclosures for years…
#9 by JimLundberg on November 25th, 2009
Remember that prices usually go below the trend line when there was a bubble.
#10 by lennyfest on November 25th, 2009
economic facts,,, here my facts anyone that buy a home now is a fool. prices have no chice other then to decline , major decline…you must be a realtor , maybe you should go sell ice cream on the beach , and if that does work for you ,, used car sales may work,