While some focus on the positive, the truth is homeowners in San Diego are still struggling, and those looking for homes are finding huge bargains. MDA Dataquick reports that number of pending sales of homes in San Diego County are up 10%, but prices are down 25% from compared to a year ago.
The south county is seeing prices slide faster than north county, in east Chula Vista you can find newer detached homes for $380,000, these same homes sold for $620,000 in 2006. Banks are pricing their homes aggressively and offering down payment and closing cost assistance but have we hit the bottom yet? Six months ago people who bought bank-owned homes thought they were getting a good deal, and some are upside down already as new foreclosures that came on the market are listed for much less than they were at the beginning of the year.
If you are in the market for a home, consider subscribing to services that give you all of the information about foreclosures in the neighborhood you are looking at and alert you to new homes on the market. Tools like RealtyTrac and ZipRealty can help you make an informed decision.
Tags: san diego housing
1 response so far ↓
foodluvin // Aug 19, 2008 at 11:57 am
Saw this happen in the 80’s wonder how far it is going to go?
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