I have been looking at relocating out of state, but if it gets low enough I may consider staying. It’s tough to say that now is a good time to buy though since it is likely just going to go lower in the coming months. This board provides us with so much insight that we will likely have a good sense as to when the market is near bottom before the masses believe it, don’t you agree? It is not even necessary that this be predicted so long as we keep our ears to the pavement and recognize it when it happens.
It is interesting because unlike previous cycles, the average person has unbelievable information resources like blogs and useful websites to gauge the market. However, the vast majority of people are not tracking these things to the extent that we are and I believe that this gives those of us who are a great advantage. Contrast this with the stock market where information is absorbed immediately, the market is extremely efficient and therefore there is little opportunity to use information to your advantage. Here we have inefficient, local/regional real estate markets where a minority of people have their hands on the most up to date information.
Even if I move, I plan to keep my ear to the pavement and follow this market. If you take a very long range approach San Diego is a very solid investment. A city like San Marcos, for example, with the university and growth is a great place for a rental property.
