San Diego Shining in the West

San Diego Shining in the West?

by Shane Pliskin

December 2010 in San Diego saw a full one month drop in inventory.  I believe we will start to see a measured and managed uptick with inventory levels as we move further into the year.

For those of you who are not aware, buyers with credit scores as low as 500 may qualify for new loan programs.  This may add to our already 'bold demand/light supply' by adding more buyers to the field.  See Tim Fiero or Clay Sheffrey at Home Services Lending for more information regarding the new guidelines for those buyers with under a 600 Credit score at 619-299-8020.  This new policy, I believe, helps to assure movement of the elusive 'shadow inventory' as it is doled out this year, hopefully near the end of this first quarter or beginning of the second quarter.

Imagine buying a home at, in some cases, 50% of the last peaks value at under a 5% Interest rate.

Further, if you research back 50 years in San Diego County Real Estate, you may find that the distance between two peaks is typically 7-9 years.  Also, the newest peak is usually higher than the previous.

Now…the last peak was 2006...We are now five years past the last peak.  I'm just saying…..

Those current Buyers, who look back in five years, at these housing prices with the current cost of their loan may have a fat smile on their faces.

Posted via email from RealtorPeg