“No, I’m not kidding, it’s SOLD!”

Something has happened to the “doom & gloom” real estate market in San Diego County. Good news is becoming more the norm, when it comes to discussions around the water-cooler. Homeowners, buyers, and their agents are noticing the disappearance of “For Sale” signs in their neighborhoods. Are termites eating them? Is it delusional wishful thinking? Reports are coming in from reliable sources that echo the masses. It appears the bottom IS finally here and in fact, has been here for several months now.

We’re seeing reduced numbers of foreclosures coming on the market, and they’re selling within days after listing. Even the once shunned ’short sale’ property is now fielding multiple offers in a matter of days after listing. AND…get this…the winning bid is typically higher than asking price AND is being sold As-Is!

DataQuick just reported that the proportion of former foreclosures being sold dropped to 47.3 percent of all resales, compared with the record 55 percent in January 2009. Hmm…

“Top 5 signs we’re (finally) at the bottom of the housing market…”

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“How can the sky be falling if the sun is still shining?”

Ah, San Diego…the skies are often sunny here on the coast.  Even if rain is forecast, the odds of feeling a drop of rain is slim. Sunny skies can temporarily blind our minds from the gloomy economy we find ourselves shadowed in.  But…it’s talked about around the office, and at the dinner table: money’s tight, and getting tighter.

Maybe the pretty blue ceiling we admire might be cracked. Did I just feel something? Could a piece have chipped free and hit me in the head? People should be warned, band together! It’s the only way to survive.

“Call in the proper authorities! We MUST get this situation under control! The next errant piece could knock my feathers off. I feel my world spinning like a chicken with its head cut off, argh!”

Flock…fear is not an option!

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“Kickin’ the Repo Man to the curb…“

The San Diego real estate market has a up side? Yep! I’ll explain. Foreclosures and short sales…savvy investors and first time home buyers are cashing in on the windfall when they hit the market. Homes which were unattainable, are now within easier reach for the first time in over six years.

Large numbers of foreclosures and short sales have brought prices down a whopping 25 to 35 percent from a mere year ago. Translated into dollars,  a payment of $2,450 per month about a year ago now would be around $1,650.

“That’s a savings of $800.00 per month!”

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