Need a Shot of Good News?

The San Diego Union Tribune front page reported today when comparing year over year data 6 San Diego zip codes did not decline in value from 2007 to 2008.This includes single family homes, condos, and new home sales. They did not say which zips so I did a little research and the 6 winning zips are actually 7 zips and they are: Coronado, Downtown, Ocean Beach, Sorrento Valley, University City, Rancho Sante Fe and Warner Springs.

 

The median price for the San Diego market as a whole is down 30%… the La Jolla market  fared better with the median price down 19%  from 2007 to 2008. If you want to find out how other San Diego zip codes fared click on the attached link:

 

http://www.dqnews.com/Articles/2008/Charts/Annual-Charts/SDUT-Charts/ZIPSDUT08.aspx

 

Curious about how San Diego fared against other CA counties and SoCal as a whole?

 

 

Sales Volume

Median Price

All homes

Dec-07

Dec-08

% Chng

Dec-07

Dec-08

%Chng

Los Angeles    

    4,430  

  5,848  

  32.0%   

  $470,000   

$320,000  

-31.90%

Orange         

    1,731  

  2,580  

  49.0%   

  $565,000   

$397,000  

-29.70%

Riverside      

    2,503  

  4,435  

  77.2%   

  $355,000   

$209,000  

-41.10%

San Bernardino 

    1,518  

  2,862  

  88.5%   

  $315,000   

$180,000  

-42.90%

San Diego      

    2,468  

  3,325  

  34.7%   

  $430,000   

$300,000  

-30.20%

Ventura        

      590  

    876  

  48.5%   

  $525,250   

$338,000  

-35.60%

SoCal          

   13,240  

19,926  

  50.5%   

  $425,000   

$278,000  

-34.60%

 

Interest rates are still low…the stimulus bill delivered a homebuyer $8000 tax credit that does not have to be repaid and a multi-trillion dollar financial stability plan which includes $50 billion in foreclosure prevention programs. The first time home buyer affordability index rose to 53% during the third quarter of 2008.

 

Now there is some good news to rally around! Should you know anyone who wants to leverage these opportunities…I’d be delighted to assist them!

 

Cheers to hopefully more upbeat news on the horizon!

 

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