The real estate market has continued its upward turn month over month and now the median price has continued its rise as well. San Diego saw a 13% gain from November '09 to December '09 which is one of the largest gains since 1988.
Rumors continue to spread that the worst is still yet to come when the banks release their "shadow" inventory and a wave of foreclosures hit the market, but insiders say this is not the case. Bank foreclosures representitives say they will continue to disburse a "trickle" of foreclosures similar to what we have seen for the past several months.
One new change is with FHA loan guidelines which will make FHA condo complexes jump through hoops to gain approval.
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