San Diego Real Estate Forecast 2010

 San Diego California real estate market

http://www.brokerforyou.com/brokerforyou/ San Diego Home Forecast 2010 - Opinion on the 2010 San Diego real estate outlook. Why San Diego foreclosures will still have an impact on the San Diego homes for sale market in 2010. brokerforyou.com Bob Schwartz is a San Diego real estate broker with 30 years experience. If you own a San Diego home or are planning purchasing San Diego real estate Bob's San Diego 2010 real estate outlook is a must read. You can also search San Diego homes for sale (San Diego MLS) at: http://www.brokerforyou.com California real estate license #00706331

Our Real Estate Recession

My opinion on the root cause of our current housing bust started back with the Clinton administration. The thinking was to make housing more affordable for the masses. A noble idea, but as usual, the government’s implementation was based on easing of the traditional mortgage qualifying rules.

If lenders wanted to expand their operations there was an understanding in order to get government approval they had to comply with the easing of mortgage qualifying rules. Further, the government told the lenders not to worry about because the two semi-government agencies, Fannie Mae and Freddie Mac, would purchase all these substandard loans.

That is my opinion, and a sure to be debated explanation of how we ended up in this horrific housing situation.

downtown San Diego real estate

San Diego Real Estate 2011 Outlook

I foresees another year of San Diego home value erosion. The only bright spot in 2010, was the Federal and California state home buyer credits that artificially created and temporally created a modest home value, short lived average price up-tick.

Some of my reasoning for continued San Diego housing trouble ahead in 2011, are the attitudes formed toward homeownership by first time buyers, the impact of California's own Cap & Tax energy program, past overbuilding of high end homes based on false loan qualification practices, and the large amount of foreclosures banks still have to process.

Read: San Diego Real Estate Market 2011 Outlook for the full article on the housing outlook for San Diego in 2011. Plus, if you want to stay up to date on the San Diego real estate market be sure to get a free subscription to the San Diego California housing market blog.