October Real Estate Report
I really don’t know what to say about the October real estate market in Hidden Meadows, but having written that I’ll say a few things anyway.
The Meadows market is already into the Winter market, which is to say, it is very slow.
This is in spite of the regular San Diego market being pretty decent. Rancho Bernardo, where Dolphin Realty has another office, is a pretty good market...no longer red hot but more than passable.
Despite gloom and doom in the newspaper about the housing market moving toward a bubble, different parts of the nation have different markets. There is not now a national real estate market, nor is there some homogenized San Diego County market.
Some places are hot…and some are cold. Hawaii is running at a 30% rate rise, as is Florida. The marketplace works just fine, thank you…when Florida closes the gap between their houses and California, California will rise again.
Someone living in Ames, Iowa, is going to come in the house on January 27, put down the snow shovel and yell, "Maude, I am sick of snow…we are moving to (fill in the blank).
The city that fills the "fill in the blank" depends upon Mike and Maude’s retirement pocketbook. If they have little money they will move to Florida, and if they are better prepared they will move to California. If the "delta" between a Florida home and a California home is great (whatever "great" means to their specific pocketbook), they will move to Florida. If the difference between living in Florida and California is less, they will forego the hurricanes, bugs and the humidity of Florida and move to San Diego.
The 30% rise in Florida real estate prices is good news…it closes the price difference that the California recent market rise has made between the two markets. That gap is closing.
And the same is true of Hawaii…the higher it goes, the better it is for San Diego…and the Hawaii market is red hot. If you think San Diego is costly, try the prices on Kauai!
Some equilibrium will be established. That equilibrium is dependent upon more factors that just housing prices in different market…there is a jobs factor, a weather factor, a potential earthquake (or the fears thereof), the national economy…about a hundred other items.
But every region has similar concerns, and in the end our real estate market, and that of (fill in the blank) depends on the collective decisions of Mike and Maude in Ames, Iowa.
The Meadows market is already into the Winter market, which is to say, it is very slow.
This is in spite of the regular San Diego market being pretty decent. Rancho Bernardo, where Dolphin Realty has another office, is a pretty good market...no longer red hot but more than passable.
Despite gloom and doom in the newspaper about the housing market moving toward a bubble, different parts of the nation have different markets. There is not now a national real estate market, nor is there some homogenized San Diego County market.
Some places are hot…and some are cold. Hawaii is running at a 30% rate rise, as is Florida. The marketplace works just fine, thank you…when Florida closes the gap between their houses and California, California will rise again.
Someone living in Ames, Iowa, is going to come in the house on January 27, put down the snow shovel and yell, "Maude, I am sick of snow…we are moving to (fill in the blank).
The city that fills the "fill in the blank" depends upon Mike and Maude’s retirement pocketbook. If they have little money they will move to Florida, and if they are better prepared they will move to California. If the "delta" between a Florida home and a California home is great (whatever "great" means to their specific pocketbook), they will move to Florida. If the difference between living in Florida and California is less, they will forego the hurricanes, bugs and the humidity of Florida and move to San Diego.
The 30% rise in Florida real estate prices is good news…it closes the price difference that the California recent market rise has made between the two markets. That gap is closing.
And the same is true of Hawaii…the higher it goes, the better it is for San Diego…and the Hawaii market is red hot. If you think San Diego is costly, try the prices on Kauai!
Some equilibrium will be established. That equilibrium is dependent upon more factors that just housing prices in different market…there is a jobs factor, a weather factor, a potential earthquake (or the fears thereof), the national economy…about a hundred other items.
But every region has similar concerns, and in the end our real estate market, and that of (fill in the blank) depends on the collective decisions of Mike and Maude in Ames, Iowa.