In reading Pete's reply, there is much he says that is accurate. Here is what you can expect:
1. You will get pitched by many "positive" agents who are avoiding the market place
2. It is important to be positive as an agent, however, if you ignore market conditions, you sound hallucinogenic.
3. San Diego is a diverse market and not all areas are plagued by short sales and foreclosures
4. There are many, many safe neighborhoods within a good commute from downtown.
5. If you are going to buy, know that most people commute downtown from the suburbs. Find a commute you can handle, you can find a 30 minute commute from many suburban areas.
6. There are people buying today. Fact, not fiction.
7. There are people in a wait and see mode as well.
8. Make sure people/agents are giving you information, not opinion.
9. If you plan to buy, know your plan. Most people buying today plan on staying in their property 6 to 10 years.
Below is the link for the latest released sales in San Diego. Here is what is important about this chart:
1. It shows median price which will help you determine area. Expect a 20% low end and top end differential from the median.
2. The % decline is from January 2008 to January 2009. You will see the stable areas in these figures.
3. If you are looking for a single family residence, just read that column, same for a townhouse, etc.
You can read our blog on this site by clicking on our profile. You will find many facts about the real estate market in SD.
Lastly, many people who move here from out of twon rent first and then buy, to get settled and learn the city. It really depends on your motivation and your own priorities. Make a plan that works for you.
Best of luck to you,
Mark and Kari Shea
San Diego Real Estate Experts
Foreclosure, Short Sale & Investment Specialists,
Development Opportunities & Traditional Real Estate