Read it and Reap

Please click here to read the September, 2008 Homedex report for North County San Diego as prepared by the North County San Diego Association of Realtors. I've been in real estate since 1975, and can't remember better conditions under which to purchase a home, except maybe in 1975. Here's some of the highlights:

The median price for single family detached homes in North San Diego County fell 1.64% to $450,000 in August 2008 from $457,500 in July 2008. In August 2008 there were 703 detached homes sold with an average days on the market of just 54, and the homes averaged 20 years of age. These sales represented a median price per square foot of $228 and I am encouraged to see that figure remain above the $200 mark.

For those of you who prefer a national view of the housing market, please click here to visit the Standard & Poor's Case-Shiller home price indices. This is a 10 and 20-city overview, which includes San Diego and there's plenty of hard data if you are so inclined. Lots of good information here including a hint of recovery in certain markets.

When I search my own Multiple listing service and absorb the information, what I see is tremendous opportunity for buyers and even sellers who have equity. As a seller, if you've been in your home for a while and can afford to do so, now is a tremendous opportunity to move up. No, you will not obtain a sales price close to what was available in 2006, but you should see what you can buy with the equity you do have. There are fantastic properties available with mortgage rates to credit-worthy buyers as good as I've ever seen them.

And, if you're a buyer.....well, there's opportunity on every street corner.

Please absorb the information provided through these links and call me if you have any questions. It is always my pleasure to serve your real estate needs.