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  • March 20, 2007 at 1:33 AM #8644
    LoveSanDiego
    Participant

    I am looking at buying a Condo in UTC and selling it off in 6~7 years. I looked around a lot of Condos here and I feel UTC has a lot of investors who probably will not drop the prices way low to sell. I believe that the prices will fall another 5~10% in UTC. So, what do you guys think? Have the prices almost flattened out or are they going to crash way more? If latter, then when do you think the downturn will occur?

    March 20, 2007 at 1:47 AM #48102
    Sandi Egan
    Participant

    I believe if you buy now in 7 years you will be looking at a 6-digit loss.

    March 20, 2007 at 1:49 AM #48103
    Sandi Egan
    Participant

    To answer your question, the crash is not a single event. RE crash in San Diego is taking place already, and will continue for several years.

    March 20, 2007 at 2:00 AM #48104
    LoveSanDiego
    Participant

    Why do you think so?

    March 20, 2007 at 12:07 PM #48139
    Sandi Egan
    Participant

    That’s just my opinion, formed by this blog.

    March 20, 2007 at 12:15 PM #48141
    SD Realtor
    Participant

    I believe you will be better off renting in UTC for awhile before buying. I have seen significant depreciation there already, on the order of 20%. In some cases I have seen pricing depreciate 10% from 2004 levels. In summary I believe UTC condos could depreciate significantly over the next few years.

    Try an experiment. Simply rent there for a year and see what the prices look like one year from today.

    SD Realtor

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