Strongest U.S. ZIP Codes.

San Diego:


Strongest U.S. ZIP Codes
Cyberhomes
This Home:
11404 Village Ridge Road,
San Diego, Calif. - $396,891
92131: San Diego, CA

Median Sales Price: $571,250
Annual Change: +61.4%
Compared to: San Diego-Carlsbad-San Marcos Area
Median Sales Price: $285,000
Annual Change: -1.4%
Differential: 62.8%

Things finally look like they might be turning around in the San Diego area. Sales numbers and prices advanced in many mid-high tier zip codes, with high-end areas in San Diego and La Jolla leading the way with the largest annual gains.




This Listing:
12843 Prairie Cir, Corona, Calif. - $325,000
92880: Corona, Calif.
Median Sales Price: $340,000
Annual Change: -11.9%
Compared to: Riverside-San Bernardino-Ont., Calif.
Median Sales Price: $157,000
Annual Change: -39.6%
Differential: 27.7

Almost everywhere in Southern California’s Inland Empire prices are still falling hard, but the blow is starting to soften in some mid-high tier areas such as Corona and Palm Springs.

Short Sale Saga Continues

Escrow on Azalea finally closed today. What a wonderful feeling.

Getting Cedar River Court SS approval this week. Went to clean up the messes today. Too bad this process took so long, the lawn is brown and one of the trees is dead.
The house still looks so nice inside. Now I hope the buyer is still interested after all those months.

I might have to get another client that have been looking for home for 3 months to go and submit an offer on it. The only problem is that they want to live in Murrieta and not SUN CITY. Although Sun City and Menifee is growing nicely. A new Loma Linda Medical Center (Hospital) is being built and the facility is coming along together really quickly.

I got dizzy in the last few days and earlier today from reviewing the 20 offers for Camino Nunez home. I love it though.......... Although I feel sorry for the buyers and the agents when I have to reject their offer. (See early posted Blog yesterday)

The Worst Is Over.

According to the California Building Industry Association's forecast released on Thursday Jan 3, 2008, the trade group is predicting that the state's house slump is near the bottom and business will be increasing steadily in the near future.
Below is the article from National Realtors Association's newsletter.

Daily Real Estate News | January 4, 2008
California Builders: The Worst is Over
A California trade group is predicting that the state's housing slump is near bottom and business will rise steadily.

In a forecast released Thursday, the California Building Industry Association said developers will secure permits for 128,400 single-family and multifamily units this year, up from an estimated 116,250 in 2007. The 10 percent gain is in contrast to the 29 and 21 percent drops in housing permits in 2007 and 2006, respectively.

"We believe that California has weathered the subprime storm of 2007, the market has almost corrected and that 2008 represents an opportunity to move forward," said Alan Nevin, the Sacramento association's chief economist, on a conference call.

Some expert observers were critical of this analysis. Esmael Adibi, director of the Anderson Center for Economic Research at Chapman University in Orange, says the number of new homes on the market will remain the same or increase this year as foreclosure and default levels climb. He predicts housing production will fall 8.8 percent to 102,000 units as resale home prices drop by 8 to 9 percent.

"I will not be surprised to see that this cycle will bottom sometime in 2009 or early 2010," says Adibi, citing past patterns.

Source: The San Francisco Chronicle, James Temple (01/04/07)

http://www.realtor.org/RMODaily.nsf/pages/News2008010402?OpenDocument