[quote=earlyretirement][quote=SD Realtor]You have to be more specific Josh. The short answer is no. Conditions are not favorable throughout the county compared to the past few years. Not for investment grade, not for owner occupancy grade. It also goes without saying I am talking about low or middle price tiers, not the 7 figure tiers.
Second, the low rates form a double whammy because investors have nowhere to put money. Do they choose an overbought stock market or an overbought real estate market? So now you have lots of investors buying, some seasoned, many not seasoned with regard to San Diego county and that is a bad recipe to create “favorable” conditions. I saw another home purchased at trustee sale for the same sales price as it was sold on the retail market back in 05. Prices will reach an equilibrium in the short term, maybe by the end of summer maybe the end of next summer, and then return to a much more subdued appreciation rate. Right now it is legging up fast and not a good place for buyers.[/quote]
I totally agree SD Realtor. On both the overbought levels of several investment opportunities out there.
I don’t think anyone should be rushing to buy anything. I think it’s different if you are buying something that plan to live in for the foreseeable future that you can comfortably afford and another to be jumping in on investment properties. Lots seem to be the latter picking up investment properties.
The horrible thing is for savers and retired that are getting pummeled and punished and earning anemic interest rates. I for one can’t wait for interest rates to go back up.[/quote]
I also totally agree with SDR. Nice to hear a Realtor tell it like it is. If you bought income properties a couple of years ago or more, hung onto metals, have a good bond manager, hold foreign currencies, and another passport, you are doing everything you can.
