Little Lady I have sat and watched the fray on this one. The bottom line is not any different then any of my posts. Secular markets do not just go in a straight line. This market is no different. What you are seeing is indeed a flurry of activity that should not aurprise anybody. Think about it… you have lower pricing, you have easing of capital requirements for the GSEs, you have FHA backed programs pushing limits up and you have all of this in the spring. It should be no surprise to ANYBODY that various submarkets that have more aggressively priced homes are seeing brisk action.
However, with all that said I honestly do not believe we are at a bottom, especially in Poway. Do I think some submarkets are getting closer? Yeah they are but I don’t see the bottom yet. To many indicators need to slowly come to a halt and then change direction. The bottom will not be a V by any means but it will be a long U. I can sit here all night and throw some stats at you to try to prove that we are not at the bottom but that would waste both of our time. Conversely, unlike many people here, I do realize there is more to owning a home then buying at the absolute bottom. Look, if you find a home you love, and you can afford it, and you want to stop renting, and you psychologically are okay with a realization that the home will depreciate in the next few years, and you are NOT going to be relocating or trying to sell in the next few years then I honestly don’t see anything wrong with buying. Getting validation for a purchase on Piggington is like chewing on glass. Anyways, make the purchase for the right reasons, however don’t be deluded by your realtor or others that we are at a bottom. Things may be busy bow but eventually it will get back on track.
