Amidst economic slowdown, San Diego real estate prices set to moderate in 2012
By John Lefferdink
With the advent of a New Year, many individuals and industries alike are inclined to take an optimistic view of the future. And while it may be impossible for even those with the most positive outlook to predict a swift nationwide economic recovery, there does appear to be a bright spot in the form of real estate market projections for 2012. According to a recent report from
, home values across the country – including
-- are expected to moderate this year, making it easier for prospective buyers to purchase property. In addition, price adjustments within the luxury market may provide a key opportunity for those looking to make an upscale investment: but in order to make the most of changing market conditions, it is important for buyers to navigate local listings with the help of a qualified and experienced real estate agent.
Based on market projection from industry analysts like Ajit Krishhan, a partner at Ernst & Young, the initial quarters of the New Year are likely to demonstrate a “wait-and-watch approach” on the part of investors, with developers focusing on executing sales of current properties rather than pouring money into new projects. As National Real Estate Development Council vice president Sunil Mantri explained to Business Today, these circumstances will likely lead to a slow-down in construction of new homes – and subsequently, an increased demand for real estate. “There has been some oversupply in the luxury segment where prices will see a correction,” Mantri continued, suggesting a potential window for buyers looking in high-end markets for new or remodeled homes.
Negotiating the local luxury market: buying and selling in Rancho Santa Fe and beyond
Even in a buyer’s market, purchasing a home is still a monumental decision – one that requires extensive planning, both personal and financial, and a lasting commitment to the property and neighborhood of your choice. When considering a real estate investment in San Diego, buyers should familiarize themselves with the safety, security, convenience and timelessness of a residential community in order to ensure long-term satisfaction with their purchase. As a seasoned team of
, we at John Lefferdink & Associates at Prudential California Realty can help buyers find their ideal homes and select the neighborhoods most suited to their interests, aesthetic requirements, and lifestyle demands. We operate first and foremost in the interest of client satisfaction: and whether you are buying a dream home or looking for ways to capitalize on the sale of your property, our experienced agents will work hard to make sure you get the price you deserve. To learn more, view local listings or get a value estimate on your home today, call us at 858-756-8098, or visit
at Prudential California Realty online: