How's The Realt Estate Market in San Diego, California Essay

How's The Realt Estate Market in San Diego, California Essay

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How's the Real Estate Market
One question always asks by people “How’s the real estate market?” it is significant that real estate agent and other real estate professional not provide a general response. They should response with full knowledge about the market. As professional it is not acceptable for real estate agent to say it is a seller’s market, or the banks are not offering loan right now, etc. A regular person may accept those answers, but prospector buyer may need to know why the market is down, or it is good time to invest in real estate, or why it is a seller’s market or why not buyer market? I will clarify these matters in real estate economic relations, so the prospector buyer can better appreciate why the markets are in their current condition.
The best way to explore current real estate market in the country first thing we have to assess the local San Diego market supply and demand. In 2009 the prices of homes were drop to the bottom because of Subprime lending practices. Subprime lenders accepted loans for borrowers with low credit score, credit history, without any employment history or collateral, although they often charged higher interest rates to those borrowers. The home prices dropped sharply after peaking in mid-2006, it became more challenging for borrowers to refinance their current mortgage loans. As adjustable-rate mortgages began to change at higher interest rates, mortgage loan delinquent climbed. Securities backed with mortgages, including subprime mortgages, generally held by financial firms globally, vanished most of their value.
The Country entered a deep decline recession, with approximately 9 million jobs lost during 2008 and 2009. It is almost 6% of the workforce of country. The housing pric...


... middle of paper ...


...resent market illustrated the increase in demand for existing homes in San Diego. Nevertheless, luxury home sales are increase in the highest level. The accessibility of the loan is still a major problem in selling homes. Most banks now require a 700+ credit score and 20% down payment need to buy the house. “Real estate sales was perfect training for the experience to go into public life because you learn to accept rejection, learn to meet new people, learn to work with people and find common ground. That's the way you sell houses... that's also the way you win over constituency.”(Johnny Isakson)






Works Cited

Cooper, R. M. (2014, APRIL 23). Retrieved from http://www.census.gov/:
http://www.census.gov/construction/nrs/pdf/newressales.pdf

Ron. ( 2011, February 18). Why We Value the Government’s Role in Housing. Retrieved from www.frealestate.blogs.realtor.org

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