Things do appear to be changing especially here in Point Loma, Ocean Beach and Pacific Beach and even more so in the condo market. Foreclosures are selling overnight and many are selling for over the list price. Of course, it is these foreclosure homes that epitimize the term "well-priced" because many of them are infact underpriced, but nonetheless things are selling and prices appear to be turning in the condo market [under $300k].
Unfortunately, there are still way too many short sale homes many of which are now following in the footsteps of the foreclosures by listing these homes well under market value leaving buyers in a blind waiting period unsure of where their offer stands. With foreclosures, underpriced or not, it is a quick process, banks accept [or reject] an offer within 72 hours, but with short sales can take up to 3 months.
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