Buyers… buy a 2 bedroom condo in Pacific Beach, San Diego under $300k!

Hello buyers! Even though the federal first-time home buyer credit is no longer an option, it’s still a fabulous time to buy residential real estate. I may have said this before, but I believe we are at bottom. And I predict that our localized San Diego Condo and Home market will hang out at the bottom of this down-curve throughout 2010 with marginal and normal price increases starting in 2011 (i.e. price...

New San Diego Condo Listing: Great Investor or First-Time Buyer Opportunity!

San Diego Condo Buyers…. a great opportunity to get into the market at just $200,000. This beautiful North Park condo is in like new condition and ready for move in. Smaller complex with only 30 units and 70+% home owner occupancy. Close to all that North Park has to offer including 3 grocery stores, numerous restaurants and hot nightlife spots. Owner may need to pursue a short sale option but we’re...

NAR Calls on Home Buyer Tax Credit: Claim Short Sale & Foreclosure Approval Taking Too Long

As we near the final 2 weeks of the Federal First-Time Home Buyer Credit, San Diego condo and home buyers are struggling to close on before the June 30th deadline as are buyers across the country.  The National Association of Realtors (NAR) has been clamoring on Capitol Hill calling for an extension with claims that banks have been taking too long in getting approvals on short sale applications and offers on bank...

Another Possible Negative for FHA Real Estate Buyers of Condos and Homes in San Diego

Oh… Congress Congress Congress….  Yet another contradiction.  Congress woman Maxine Waters recently stated her “great concern” for increased home financing rates and the negative affect that could have on a stabilization real estate market.  So why is she, along with FHA commissioner, now supporting HR 5072 that was just passed to the house floor??  The bill allows for the FHA to raise the mortgage...

41% of Polled Home / Condo Owners Say They Would Walk – Effect in San Diego?

According to the results of a survey conducted by Trulia and RealtyTrac, 41% of homeowners polled stated that they would likely walk away from their condos or homes it was under water (owe more on their loans than what it’s currently worth).    And some industry veterans believe that percentage to be a conservative response.  What does that mean for the country’s future in REO and Short Sale transactions...