Everyday, we have walk-ins at our office that express that they think the market will soften some more, and that they are going to wait it out to buy.

Now I cannot predict the future, so I am not sure if this is the bottom, but it surely is not near the top! The only way we will know when we have hit bottom is when the prices are already climbing back up. I can't see the market getting drastically worse. It may go down a little bit more, but should not be enough to stop someone from putting an offer on a property that they like.

I think when the media describes San Diego's market as a whole, it makes it seem much worse that it really is. Downtown San Diego is a completely different market. Real estate consultants are saying that downtown is one of the best areas for long-term investment.

Prices are down nearly 30%, and now is the time to buy in Downtown. Properties are going off the market faster than a few months ago. Already we are seeing multiple offers on properties that are either priced to sell, or are in a highly desirable development. Many times in this situation, the condo sells for above asking price!

So the people who continue to wait out the market for a year or so, may miss out on Downtown's best deals.

-Ashley Souza

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