We’re in the final countdown for 2007…. less than 12 hours to go! It’s time to give a heartfelt goodbye to many situations and issues in the San Diego real estate market. Hopefully… a huge GOODBYE to the negative headlines about the real estate market. Has it become a self-fulfilling prophecy? I think in many ways it has because the headlines are very negative and are not true for many areas in San Diego. Or the headlines only reflect one aspect of the entire news article that most people do not have the time to read. I guess it’s true that bad news sells newspapers! Are you depressed after reading the following headlines and sub-titles:
- “Existing home sales descend to 5-year low….Deep housing slump raises possible recession worries”
- “Housing decline continues…. Home sales and prices fall, mortgages tighter; but other counties have it worse”
- “Weighed Down… San Diego County’s Woeful housing market is dragging other economic sectors to the depths of despair”
- “Housing slump seen continuing far into ’08… New-home sales hit a 12-year low”
Yes, the market has slowed down. Yes, the mortgage industry’s “creative financing” of past years have caused problems for our economy. Yes, the general economy has changed. However, I believe that the fear factor in the media causes much of the problems sellers and buyers are facing….. just my opinion! Okay, it’s true that we are not in a seller’s market or a rising market…. at least not in most areas of San Diego County. The media gives a blanket statement about the conditions of the real estate market without a disclaimer that it may not be true for every neighborhood in San Diego County. It is important to realize that real estate is local… yes, a local commodity! Take the time to receive accurate information on the neighborhoods you are interested in buying or selling a home. My New Year’s Resolution is to take with a grain of salt all the negative headlines in the media and dig deeper to determine the true picture of San Diego’s coastal real estate market.