sdlookup.com forums

i was perusing the san diego foreclosure lists on the team aguilar website and looking up the mls info for some of the properties on sdlookup.com when i stumbled across their very good forums. lots of interesting discussions about the status of individual condominium projects - price cuts, foreclosures, sucker buyers, and detailed info. about the quality of the units.

from reading the forums, the general feel is that we haven't hit bottom yet price-wise, given the number of foreclosures out there and that price recoveries often lag foreclosure number peaks. one positive sign is that some projects (aria) are beginning to cut to price points that will enable break-even on unit rental. however, given the difficulty of securing loans, particularly on second homes, it might be the developers who end up renting out the units (hello, smart corner), thereby cutting the value of your purchased unit big-time. probably best to see how the market moves before making your own move, if you're looking to buy.

another good resource is sdcondo.com's downtown condo listings, where you can sort by building name. 37 units for sale in electra?! this is the luxury condo project that finished earlier this year and everyone dumped their units onto the market. prices still seem high, especially when you consider the outrageous HOA fees here. electra might just be the poster child for what happens when flippers try to flip one property too many.