Everyone tells us "You're so lucky to be looking for a home, now! It's a buyer's market!
No, it isn't. Not where we are, at least. San Diego, CA.
For nearly two months we've been looking for a good home to buy. We pre-qualify for almost a half million dollars. But homes out here are outrageous expensive, and every one we go see, the sharks are patrolling the waters. Investors looking to buy, refurbish, and sell at a profit.
The problem is compounded by the fact that the moratorium on foreclosures in California was recently extended for 3 months. This is an effort to drive prices "back up" to where they were when realty crashed. I understand that this helps banks recover the money on foreclosed properties, but it doesn't help us a bit.
We currently have a counter counter counter offer in on a nice 2600 sq ft place in La Mesa that we call "The Mansion."
Standing by to stand by.