Coastalhomefinder.com

The North San Diego County Coastal real estate market has been challenging for sellers for well over two years. It is likely we are at, or have seen the bottom in the starting price ranges. Every home I have written an offer on below $400,000 in recent months has had multiple offers. Many of the foreclosures that come to market now are snapped up in bidding wars for well over asking price. This kind of action is predominate in the starting price ranges right now but what is going on in homes above $800,000 is another story. The inventory levels of higher priced homes is substantial and with rates just recently coming down on jumbo loans (see related story)  it may take some time for higher priced homes to gain the footing the lower priced homes seem to have gained. This tale of two markets is somewhat typical and expected. Lower priced areas are the first hurt and typically see the steepest declines but many times they come back first, as they are now, with the higher end following behind.