San Diego’s real estate values will continue their downward tilt through 2010. An opinion, but based on much data and the feeling in my right knee. Too many local investors have, with nervous smiles, pointed out the prices are slightly up year over year here. True enough. Tell ya what, why don’t ya buy several properties this summer, then we’ll talk next summer. It gets pretty quiet, sometimes uncomfortably so.

NOTE: Before continuing it’s important to understand San Diego ain’t the Lone Ranger here. There are numerous similar markets. All of SoCal and most of NoCal for example. (Think Palo Alto) But around the country, whatever I say here about SD is likely to have traction in many, many regions.

We’ve been culling through our database looking for income property owners who’re best positioned to effect a high quality move of their equity(s). We’ve been blessed and handicapped simultaneously by the reality of gettin’ up to speed on a brand new piece of database software. The blessing though is far outstripping the irritations of the necessary learning curve involved. It’s a killer program — the best I’ve ever seen. Anywho, we’ve been noticing a disturbing trend as it relates to new loans on investment properties.

Does this describe you? [Read more...]