sdsundevil from where I sit, using the term “going to be a price correction” is incorrect. The fact is that the price corrections that are presently in effect are already of the single to double digit variety. We are already seeing the prices of solds in many neighborhoods down. So to speak of an upcoming correction is already an incorrect statement.
Also have you been watching the pricing on the new developments throughout the county?
What is true is that the corrections are of varying degrees dependent primarly by zip code and type of housing.
The frustrating thing for me as a Realtor are those that “don’t think it will be bad”. If you are not a seller, or a developer, then I wonder where you are gathering your opinion from. Perhaps other Realtors have differing thoughts but I have seen a very different buyer psychology emerging. Buyers are out there don’t get me wrong. However speculators are long gone, and easy money is now being replaced by smart money for the most part.
I guess we will all see how it pans out… Yet the data is already showing a clear depreciation that has happened, not going to happen.
