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 February 24, 2008

Considering Downtown San Diego & La Jolla Markets
Downtown San Diego continues to remain very active. Those who did not dream of buying in the Downtown San Diego condo craze a few years ago are now beginning to see things differently. Joan Wallace, a long time Carmel Valley condo owner, says she never considered downtown before, but with the decline in prices and foreclosures, Joan is realizing that maybe the "time to buy is now". "What will it matter in ten years; I will double my money by then." Joan is, for the first time in her life, thinking of purchasing a condo in La Jolla. "Prices in La Jolla have never been better. Even though they haven't had the foreclosure problems of downtown, there are still some great deals out there."
La Jolla is one of the areas along with Del Mar and Rancho Santa Fe that are showing signs of recovery. Joan is predicting that prices will probably fall a bit more in downtown, but is thinking that prices in La Jolla are "probably as good as they are going to get". If history is any indicator, La Jolla will be one of the first to show signs of recovery before the rest of the US. We'll keep you posted.

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