You are correct in the fact that the housing market is overvalued in San Diego. By how much, this is what we are all taking guesses at right now and educated one's at that.
Concerning you being wrong about the bubble several years ago says to two things:
1) Even at 2003/2004 prices you knew by common sense that things were getting out of whack. How much more now?
2) Your timing was just a little off and it is always hard for anyone to time the market. I guess all you can do is sense the calm before the storm but we don't know when it is going to show up. It is here.
As you will note from my previous post, my business is also comprised of financing so that is my focus now. I have people come into my office and I educate them on the program they currently have, the positives and negatives of the program, and then help them make a decision from there in alignment with their goals they have set up themselves or with a planner.
If a client wants to list, I try to educate them on the state of the market and what is realistic at that time. Then, I list and market the property. My fudiciary responsibility is to the SELLER not the buyer.
Also, I work with alot of investors who are giving me the green light to pull the trigger on things out of state that CASH FLOW with very little down. Mainly in the midwest.
Hope this helps…thanks for offering to play the devil.:)
