Million dollar sales puff up sfr resales, cheap condo conversions bring down new home sales. It all gets mixed up in medians.”
Problem is, the cheap condo conversions are not selling at the same rate, reducing the number of sales at the low end.
When I attended the UCLA Anderson Forecast in May 2006, I met a realtor who specializes in helping investors 1031 out of SD properties into other areas which are still appreciating. They will keep their money in TX and other areas for 3-5 years, and then come back into San Diego when prices are down 50%. Perhaps this interests you, since it sounds like the tax bill on a sale would be intense, and you don’t want to roll over into other SD property.
The guy is Chris from the Mackey Sales Team, Prudential California Realty, 858-794-3157, http://www.MoveSanDiego.com
