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 October 20, 2008

San Diego Real Estate Undervalued
San Diego had some of the most overvalued real estate in the country and, in the recent downturn of the economy, San Diego is now the most undervalued real estate in all of California.
Overall prices on homes have declined more than thirty percent, however, incomes are still rising. Experts are predicting that prices will continue to fall as much as ten percent through 2009 and then are expected to begin their rise in 2010.

Much like the rest of the country, San Diego is suffering from the foreclosure crisis and creditors tightening their grip. Nevertheless, San Diego is not necessarily experiencing an economic crisis like so many are.

The median price for a home in San Diego was just under $350,000, making more than seventeen percent undervalued. Two years ago, the median price was more than $500,000 and almost forty percent overvalued.