San Diego Real Estate in 2008:
Should You Wait for Prices to Drop?
How do you define the "bottom" point?
Did you realize that the beginning of our current "soft" cycle was in 2004? If you did not see it then... How do you know whether you´ve missed it or not?
The best deals are made when the market is anxious, waiting for uncertain issues to resolve. Once the uncertainty is resolved, the market is less anxious and less prone to deal-making.
Is San Diego Real Estate Still in Trouble? Many San Diego local economists and industry insiders point out that San Diego´s real estate troubles began in earnest in 2004, ahead of the pack. It follows, they say, that San Diego could come out of these troubles earlier, also ahead of the pack.
And not all of San Diego real estate has really suffered from the current crisis. If you´re selling in Burlingame and buying in Mission Hills, nothing has changed. If you´re selling a home in the Metro area and moving into a condo, you´re in the driver´s seat. If you are looking for truly distressed homes in 92103, 92104, 92116 then you are wasting time. In those areas, the distress is in condos.
Regardless of your situation, however, real Estate is a regional issue. National news and numbers -however dramatic and eye-catching on the nightly news -have little relevance to day-in and day-out actual sales.
Waiting for San Diego Home Prices to Drop? As of December 4th, 2007, conforming rates were the lowest they´ve been in the last 2 ½ years. If you´re waiting for home prices in San Diego to go down, please examine this chart:
How Buying Power Changes with Rates
Buying a Home NOW
Buying a Home LATER
Purchase price: $400,000 with 10% down
First mortgage: $360,000 at 5.625% = $2072/mo
Property taxes: $416/mo
PMI: $240/mo
TOTAL: $2728/mo
Purchase price: $375,000 with 10% down
First mortgage: $337,500 at 6.5% (where rates were 3 months ago)
Property taxes: $390/mo
PMI: $225/mo
TOTAL: $2748/mo
If you were planning to buy real estate in San Diego in 2008, you need to START NOW. ALIGN yourself with an agent who is working for you at the outset.
It's a GREAT time to BUY in San Diego!
Deciding Where to Buy a House or Condo in San Diego
We pretty much take it for granted that, no matter where you live in San Diego, you´ll enjoy convenient access to beaches, shopping, dining and nightlife. Choosing where to buySan Diego County real estateis simply a matter of taste. Each neighborhood has something special to offer - from the stately streets of Mission Hills to the laid-back atmosphere of Ocean Beach, from the newly thriving artistic community of North Park to the breathtaking scenery of La Jolla.So you want to buy real estate in San Diego?
Have you considered North Park, Mission Hills or Hillcrest? Morley Field is a popular San Diego neighborhood in the North Park area, and Burlingame is an excellent South Park neighborhood - with pink sidewalks! Both Downtown San Diego and the Marina area are perfect if you´re searching for metropolitan living. Little Italy has some great loft architecture to consider- perhaps some of the best in San Diego and all of Southern California. Mission Hills and Marston Hills are perfect places to buy a truly opulent home, and there´s always La Jolla or Carlsbad. If you´re interested in moving further east in San Diego County, consider La Mesa. Conveniently located near San Diego State University (SDSU), La Mesa is a neighborhood where you might find a house or condo you´ll just love. Call me at (619) 929-1413 or email me to find a condo that best suits your needs.
Your first stop will most likely be the Search for San Diego County Homes page. You can search all homes for sale in San Diego County. Sign up for listing alerts you´ll receive a notification in your inbox when new listings that meet your search criteria arrive on the market. (Start searching now...)
Next, you´ll want to head over the Buyer´s Center. Here, in one easy reference toolbox, you will find Home Buyer tips, information about mortgages and credit repair, San Diego demographics and neighborhood information, a list of local school districts and a page about how to set up your utilities once you´ve moved. (Visit the Buyer´s Center...)
SELLING YOUR HOME
San Diego Home Seller's Center
You´ll find Tom´s experience both in the San Diego real estate industry and as an attorney to be a valuable resource when you sell your home. In fact, he holds a master´s degree in Negotiation!
If you own a condo, single family home or investment property in San Diego, begin by finding out how much it is worth in today´s real estate market. (How much is your home worth?...)
Also, be sure to stop by the Seller´s Center. Here you will find Tom´s marketing strategy, free reports, valuable consumer links and information on 1031 Exchanges and short sales. (Visit the Seller's Center...)
SAN DIEGO'S PLACES TO CALL HOME
Neighborhoods & Suburbs of San Diego
As in any major city, there is a diverse assortment of communities and home styles in the greater San Diego area. Each neighborhood has its own unique flair, its own character. San Diego REALTOR® Tom Dunlap invites you to use this website to help you decide where you want to buy a home for sale in San Diego County.
How do you define the "bottom" point?
Your first stop will most likely be the Search for 
You´ll find Tom´s experience both in the San Diego real estate industry and as an attorney to be a valuable resource when you sell your home. In fact, he holds a master´s degree in Negotiation! 
