Just the Facts

The papers report that the market is horrible. We haven't hit the bottom yet. Don't buy for another year because the San Diego housing market is still going to go down another 5-10%. In my experience, I have noticed that the media is always behind by 6+ months. For example, I was watching on the Today show that they were reporting about these unethical lenders that were pushing the funny loan products. They reported as if it was a new awareness although it happened about 4-5 years ago. Wow, that is really behind the curve. Also, real estate is very local. Yes, certain areas are not doing well i.e. Chula Vista and Temecula. The areas in this article are in the I15 cooridor that are showing statistics from the last 30 days.

Market time, pending sales, and # of offers shows the health of a Real Estate market. I work with buyers alot. I am seeing what is actually happening in the market.

I have been negotiating on properties that have 10-14 offers on them and at times being over bid. Yes, 10-14 offers on properties. This might be a surprise for you but these are the facts!

The average market time in 2008 was 86 days on the market. Today's average market time is 57 days on the market. That is a a large reduction in market time.

There are over 151 pending sales in the last 30 days. Does that sound like a down market?

I hear every day from buyers "Craig, no homes are selling. The market is dead". Well, another falacy reported from the media. in the last 30 days there are 46 properties that sold under 10 days. A lot of them in my experience had multiple offers on them.