Honestly, I would wait a few months. My guess is that you're going to be seeing some substantial seasonal adjustment as we move from our peak buying season (summer) into a slower period in the market (winter).
Prices are already being reduced in the market areas we service, and I expect that trend to continue. Brokers, by nature are optimists, and have priced a lot of homes incorrectly. It may be that the seller doesn't want to sell at a certain price, but prices have quite a bit more room to adjust before they match up with what the rents will produce.
This is especially true in the price points over $300,000.
When you are ready to look at rentals, and if you're looking in the downtown, or urban neighborhood core, let me know and I'll be happy to give you a real assessment.
Bottom line is I would wait unless, as Bill pointed out, there's something you just "have to have." Generally speaking, prices are going to come down some more. All the best.
Any time is a good time to invest in the housing market as long as it's the perfect home, in the best location, and being offered at a price that you can't afford to walk away from.
The biggest mistake you can make is deciding not to look. If you take yourself out of the hunt you'll never know what your possibilities were.
All The Best,
Great Life Realty Team
Prudential California Realty
I specialize in helping Canadians buyer investment and second home properties here in San Diego. In addition, i have a team of professionals to provide additional advice in areas of taxes, ownership and currency exchange. Yes, now is a great time to buy in San Diego. You just need to decide if you are looking for single family or condos. I'll be doing some seminars later this year in your area, in addition to some online webinars to help answer many questions other Canadians have about the San Diego real estate market. Please give me a call if you would like to speak more. I have an amazing property search tool, that is free, and will give you full access to the MLS, which is helpful when doing your research. 50% of our clients have never been to San Diego prior to buying a property so its essential they have a resource that can stream line the process. I look forward to hearing from you!
619-840-3400, or firstname.lastname@example.org
I think it is a great time to buy property in San Deigo. The interest rates are staying around 6% or under and the home prices in certain areas have dropped as much as 30%. I have a few REO in the North County of San Diego. When these going on the market they are usually sold within two to three days.
However even with being a great buyers market in San Diego, CA it depends on what you are tyring to do. I have some out of town clients buying home here to rent in the winter months and come and enjoy in the summer time.
Let me know if you need any help, I work full time in Real Esate. Or feel free to visit my website at http://www.coastalhomesinsandiego.com
I've been asked this a lot lately by Canadian buyers. We're seeing multiple offers on properties that are priced very well and sales volume has begun creeping up again. Average prices still are coming down in some areas as we have more affordable homes for first time buyers than we've had in many years. Luckily, you're not buying the average house - you're looking for a good deal on just one home. I've been able to negotiate good deals on many lately. Affordability is great! Not sure if you're looking for a condo or home and whether it's just an investment or a home you'd like to live in eventually. Your answers may lead me to recommend one area vs. another. Search the MLS for yourself on my website or just about any realtor's site. We can also automate it for you to streamline it and make the most of your time and effort. Let me know if I can help. Good luck!
Diane Conaway, RE/MAX United, (760) 749-2888
Accredited Buyer's Representative, ePRO
Vancouver is one of my favorite cities
Now is a great time to buy in San Diego. Prices are very low and lots of great properties on the market.
I know of many properties in good areas that can be purchased and would have positive cash flow as a rental.
Give me a call or email and I can go over the opertunities. I have some great search tools that make it really easy for out of area buyers
We have some great opportunites for purchasing rental properties in San Diego County. I work with a number of out of town investors and can find you positive cash flowing properties with 20% down. An example would be a condo for $130k that rents for $1300/month. This will cover your principal, interest, HOA, insurance, property taxes, and a little extra for you.
Reach out to me for more detailed information.
Nick Rhea, MBA, Broker
Bombora Investments, Inc