San Diego Condominium Values take a HUGE Drop

For San Diego, the market top was around the summer of 2005. Since than, many neighborhood real estate values have been on a continuing decline. A very important point to keep in mind, is that most published sales data (including chart data below) do not reflect the very prevalent buyer concessions both the new and resale San Diego sellers are having to pay. One escrow officer estimated that over 90% of her escrows have the sellers paying buyer fees and or giving the buyers a credit at the close.  Many of these buyer concessions (typically closing costs) are running 2 to 3% or more of the sales price

[tags]San Diego condominiums,San Diego real estate,San Diego housing,San Diego real estate market[/tags]    downtown San Diego condominiums