Profile picture for Kevin Hall

In next year, So. Cal. prices will go up 10%? Go up 5%? Stay even? Down 5%? Down 10%? Down 15+%?

  • September 04 2010 - Downtown
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Answers (13)

On average, prices will drop 15 to 18% through 2011.  Contributing factors:  any rise in interest rates, difficulty in closing new loans, excessive inventory at unsaleable prices in some areas, foreclosure affect, unstable economic conditions locally, poor leadership, and availability of potable water to name a few.
  • December 28 2010
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Profile picture for Alwin Lee
Probably go down 10%. Too many foreclosures are out and job market is not improving.
  • December 14 2010
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Since financing is still challenging for most buyers under a 700 score, more properties are in foreclosure, and the job market dose not have much improvements. You will see prices drooping 5-10%.

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  • December 08 2010
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It really depends on your metro area. The IE and Central Valleys are still getting killed. Around the Los Angeles Major Metro you have pockets of good and bad. The San Fernando Valley is stable between $300-$500k, declining slightly north of $600k and over $1M really depends on the property. So many are coming onto the market that are seriously overpriced that it is seriously distorting the data when they register significant price decreases. Hidden Hills and Bell Canyon are currently Poster Children for this issue.

For our investors we are predicting 3% annualized growth for 2010 and 2011; realize most of our investment acquisitions are under $500k and have a pretty solid pricing floor under them in the Valley.
  • November 10 2010
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Profile picture for SoCal Engr
Where in SoCal, or are you lumping all values into an aggregate pool?

Even in the City of San Diego (not even County of...), there is significant variance in the locations that will drive up/down/flat. Sometimes, a few miles makes all the difference.
  • November 02 2010
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Kevin,  Given the HOI (housing affordability index) it really does not matter if prices were to decline slightly...it is very likely that rates will increase and any advantage of 'waiting' will be wiped out.  Certainly, I don't see prices dropping much around San Diego.  Riverside, San Bernadino, Fresno, Bakersfield, etc...yes, possibly.
  • November 02 2010
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Depends on different sircumstances.
  • November 02 2010
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Profile picture for Alwin Lee
Go down by 5-10%. Jobs still a problem and back logs of foreclosures.
  • October 30 2010
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Profile picture for waitingtobuy

I predict that it will go down 10% or more.  If you look at most of the option ARMs that are out there, 50% originated out of California.  Most of those will hit the market at the end of 2010 and 2011.  Prices are still out of wack in SoCal.  And when the interest rates go back up, and it willl...It's going to drive down prices even more. 

  • September 08 2010
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Profile picture for droopyd
I'd expect it to be flat overall, but it depends on the local market as to what might gappen in a specific area.
  • September 04 2010
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If there is no major changing in California economy, So. CA home prices will rise no more than 4% or drop no more than 2% in the end of next year, it will bumping of course.
  • September 04 2010
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Profile picture for broker_GRI
  • September 04 2010
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Profile picture for the_country_hick
if you look at the site below they expect california to increase prices. I doubt that is right but could be wrong. http://www.housingpredictor.com/california.html







  • September 04 2010
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