2007-09-20 05:30:49 · 4 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
No. Some areas, like San Diego, appreciated way too quickly, have inventory issues (especially in condos) and had too great a percentage of mortgages be sub-prime. The half percent rate cut does not directly address any of those issues in San Diego.
2007-09-20 07:44:18 · answer #1 · answered by Rush is a band 7 · 0⤊ 0⤋
San Diego real estate home values still has years to go for this decline.
I think we are only half way through this decline. 2010 should be the bottom.
Keep in mind, the average San Diego median home price is over $550,000. So, a 15% decline is a $82,500 loss! If you purchased last year, even with 20% down payment, your San Diego home could now be worth MUCH LESS than the amount of your mortgage!
With my take on the background of the current San Diego real estate market expressed, my opinion on the immediate future is that the San Diego real estate market is likely to accelerate down as the popular adjustable rate mortgages from the last few years come up for their first adjustment.
Yes, San Diego housing values could easily be down 25 to 30% from their summer 2005 values by the end of 2007.
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://www.brokerforyou.com/brokerforyou
Additional real estate info sites:
http://www.downtown-san-diego-real-estate.com/san-diego-real-estate-article-index.htm
http://www.brokerforyou.com
http://www.san-diego-for-sale-by-owner.com
http://www.la-jolla-ca-del-mar-san-diego-real-estate-encinitas-california.us
http://www.brokerforyou.com/blogger/index.htm
http://www.sandiegorealestatelibrary.info
http://www.sandiego-agent.com
http://san-diego-coastal-real-estate.blogspot.com
http://sandiegofsbo.blogspot.com
http://downtown-san-diego-real-estate-views.blogspot.com
http://san-diego-coastal-real-estate.blogspot.com
http://sandiegofsbo.blogspot.com
http://downtown-san-diego-real-estate-views.blogspot.com
http://www.brokerforyou.com/san-diego-real-estate-sales.html
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
http://www.alpinerealestateagent.info
http://www.bonitarealestateagent.info
http://www.carlsbadrealestateagent.info
http://www.chulavistarealestateagent.info
http://www.clairemontrealestateagent.info
http://www.elcajonrealestateagent.info
http://www.encinitasrealestateagent.info
http://www.escondidorealestateagent.info
http://www.fallbrookrealestateagent.info
http://www.jamulrealestateagent.info
http://www.miramesarealestateagent.info
http://www.nationalcityrealestateagent.info
http://www.pacificbeachrealestateagent.info
http://www.pointlomarealestateagent.info
http://www.santeerealestateagent.info
http://www.sorrentovalleyrealestateagent.info
http://www.tierrasantarealestate.info
http://www.universitycityrealestateagent.info
2007-09-21 08:16:50 · answer #2 · answered by Anonymous · 0⤊ 0⤋
The Fed would not set costs of activity, the bond marketplace does. And the possibility in mortgages is so severe marvelous now, that lenders are having to cost their loans above a common income margin to have the skill to sell them into the marketplace. merely like human beings won't be ready to sell their residences, lenders won't be ready to sell their loans. because of the fact of this costs not sleep, and courses have disappeared, and underwriting rules are tight. This marketplace sucks! even however this is all we've. I save hoping the gov't gets entangled in some genuine way, no longer those a million/2 efforts we are seeing. finally, the inventories will come down, the lenders will return and we will have a 'established' marketplace for a whilst. yet do no longer anticipate it earlier 2010 a minimum of.
2016-11-05 23:06:43 · answer #3 · answered by ? 4 · 0⤊ 0⤋
In a couple of years, maybe.
Unless inflation picks up sooner, of course.
2007-09-20 05:42:56 · answer #4 · answered by pgreen 6 · 0⤊ 0⤋