• Scam Diego alerts

San Diego metro real estate values have now plunged 40.8 percent from their peak in November of 2005, according to data from Standard & Poor's/Case-Shiller, released this morning (March 31). Local prices are back to their August 2002 levels. Indices for the top 20 markets track values for typical single-family homes. San Diego's index for January of this year was down 2.6% from December. By contrast, December had been down 2.1% from November. Compared with January of 2008, the San Diego index is down 24.9 percent. Only five metro areas did worse: Los Angeles (-25.8%), Miami (-29.4%), San Francisco (-32.4%), Las Vegas (-32.5%) and Phoenix (-35%). The top 20 metro areas were down a collective 19% in January. "Most of the nation appears to remain on a downward path," says economist David M. Blitzer of Standard & Poor's.

  • Scam Diego alerts

Comments

SurfPuppy619 March 31, 2009 @ 8:01 a.m.

Don, as I have said in the past, you blew my doors off on this call when you said the values could drop 35% or more..

I thought there was NO WAY R.E. would drop more than 30%.

Boy did I mess that one up-and Im a broker.

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SurfPuppy619 March 31, 2009 @ 8:15 a.m.

Did you see this one Don;

U.S. home prices fall by record 19% From the Associated Press

WASHINGTON -- Home prices sank by the sharpest annual rate on record in January, and the pace continues to accelerate, but there were a handful battered metro areas where price declines slowed, according to data released Tuesday.

The Standard & Poor's/Case-Shiller index of home prices in 20 major cities tumbled by a record 19 percent from January 2008. It was the largest decline since the index started in 2000. The 10-city index dropped 19.4 percent, also a new record.

(Some goods news in some areas) But in Cleveland, Los Angeles, Las Vegas and Washington D.C. -- areas all ravaged by foreclosures -- annual price declines eased.

http://www.latimes.com/business/la-fi-homeprices1-2009apr01,0,5390093.story

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Don Bauder March 31, 2009 @ 12:29 p.m.

Response to post #1: From Dec. 99 to Feb 02, the SD Case-Shiller index rose from 99.47 to 129.82. Then it soared to 250.34 in Nov. 05. It wasn't difficult to predict a hard landing when the county was going into a recession, and, more than other cities, had used exotic mortgages with balloon payments coming up. Best, Don Bauder

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Don Bauder March 31, 2009 @ 12:31 p.m.

Response to post #2: Yes, that was written from the same info on the S&P website that I used this morning. Best, Don Bauder

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