SD Realtor – golden opportunities? I’ve seen a few condos in SD that would pull in 7+% return go in the last month.
Lots of ridiculous pricing, but the condos that are priced stupidly are seeing reduction after reduction, where they may have sold three months ago.
The SD market is extraordinarily sensitive to incentives. Remember the $8000 credit and the run-up it caused? Guess what: a rise from 3.5% to 4.75% or so was the equivalent of pulling this credit, if not more.
I highly doubt we’ll see 2011 pricing in the near future, but mid to early 2012 pricing is for sure possible. This run up has been too far, too fast.
