Real Estate Price Projections: What Does J.P. Morgan Predict?

Future Real Estate Price Projections from Macro Market Survey and J.P. Morgan Chase

As you can see by the J.P. Morgan and Macros Market Survey projections, this may be the last year where we expect prices to dip.  All things considered, none of us can read the crystal ball, and there are a lot of factor, jobs being one of the most important factors, to help predict future home prices.

San Diego real estate has experienced significant price drops in all areas of the market.  We have seen a firming up already at the bottom end of the market.  We are starting to see well priced higher priced homes have competing offers.  As one of our agent friends says, "Price sells in all markets."  That is very true.

Lending rules are also getting ready to change in the next few months and that may affect pricing more than J.P.Morgan Chase is considering.  Loans are going to be harder to obtain, although some days we find it difficult to believe things could get any harder or any more ridiculous.  I sometimes think loan underwriters are escapees from the funny farm, as politically incorrect as that is to say.  Loan underwriters start from the French justice system.  You are guilty and must prove your innocence.  If you are a cash buyer you must prove where your cash came from.  You must prove you are not a drug cartel leader or cheating the government.  It is a world gone crazy.

However, I digress.  Bottomline is that this is the best time to get out there and purchase.  It is also the best time to short sale any non-performing asset.  You can short sale your underwater property and be back in the marketplace within a couple of years, based on what we are seeing now.  Maybe even sooner.  Take the time to clean everything up in your credit portfolio.  It may seem a daunting task, but time is going to pass anyway, so you might as well try to do some good with your financial situation.

For a more in depth look at what is happening in the San Diego real estate market, please contact us for additional information.  We will be happy to provide you what we know and what we think is going to happen, based on research we have uncovered.

This is a series of articles by Sharyn and Victoria Crown, San Diego real estate agents and brokers.