I know that there are areas in Texas, Florida, and Oregon that are doing well, but what about everywhere else?
2006-08-24 00:17:24 · 4 answers · asked by In Honor of Moja 4 in Business & Finance ➔ Renting & Real Estate
Not sure, but............
Keep in mind...........
Times and markets are changing!
In California with average homes selling well over $500,000, a 20% decline is $100,000! In any market 'timing is everything'! So, could you afford a loss of 25% of your investment all because of poor timing???
This last up cycle was 10 years in many parts of the country. The downcycle now started in CA, Wash DC, NYC, Vegas and other hot areas of the past are all soft and getting softer.
From 1990 to 1996, the average home in San Diego lost 20% of its' value! The cycle we are now enterng looks like it could well exceed that on the downside!
With all the 100% financing, interest only loans, EZ qualifing etc...even a slight decline will cause many to be unable to sell for the amount due on their loans!
For some great 'insider' articles on the San Diego real estate market, which I believe will apply to any of the hot real estate markets of the past five years.....visit:
http://sandiegofsbo.blogspot.com
http://www.brokerforyou.com/blogger/index.html
http://www.brokerforyou.com
http://www.san-diego-for-sale-by-owner.com
http://www.brokerforyou.com/san-diego-real-estate-sales.html
http://www.la-jolla-ca-del-mar-san-diego-real-estate-encinitas-california.us
http://www.la-jolla-real-estate.info
http://san-diego-coastal-real-estate.blogspot.com
http://sandiegofsbo.blogspot.com
http://downtown-san-diego-real-estate-views.blogspot.com
http://www.poway-real-estate.info
http://www.del-mar-real-estate.info
http://www.la-jolla-real-estate.info
http://www.los-angeles-real-estate-brokers.com
http://www.san-jose-real-estate-brokers.com
http://www.orange-county-real-estate-brokers.com
http://www.san-francisco-real-estate-brokers.com
http://www.sacramento-real-estate-broker.com
2006-08-24 04:13:25 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Things are rough for sellers in California right now. According to MLS, 38 sellers per buyer in San Diego last week.
On the other hand, if you've got the guts to get off the sidelines, buyers have fantastic leverage right now. If you're buying as an investor, or for a place to live for several years, as opposed to with the idea of flipping, you are in the strongest position of the last twenty years. I have been telling anybody who was even kind of marginal to hold off purchasing for the last eighteen months. I'm not saying that any more.
2006-08-24 03:54:17 · answer #2 · answered by Searchlight Crusade 5 · 0⤊ 0⤋
No. I live by the ocean and it's always a sellers market.
2006-08-24 01:01:52 · answer #3 · answered by Anonymous · 0⤊ 0⤋
every rise has a fall !
2006-08-24 00:20:57 · answer #4 · answered by handsomedev2001 3 · 0⤊ 0⤋