The LA Times ran a story on March 4th on the bust of the Shanghai, China, real estate market. In one of the world's hottest housing markets, the last three years saw a doubling of prices. Things are now so bad now that thousands of real estate offices have closed, many homeowners have loan amounts that are greater than their properties resale value, recent buyers are fighting with developers to rescind their purchases, and banks are awaiting a wave of mortgage defaults.
Morgan Stanley's chief Asia economist said "Shanghai's housing slump is only going to worsen and imperil a significant part of the Chinese economy". About the property now under construction, this same economist said "They'll remain empty for years!"
The similarities to our hot US bubble markets, makes me believe this is preview of what we are already starting to experience (though at a much slower pace).
The first signs of trouble in our real estate markets were very subtle and only picked up, or acknowledged, by very few real estate professionals. Since mid 2005 the red flags have been quite obvious to even the layperson. Yet, the forever optimistic 'it's always a good time to buy' industry line is embraced by the mass media (they certainly do not want to lose their immense source of real estate advertising revenue) and the naive general public.
In San Diego in particular and most other major metropolitan real estate markets, it's quite acceptable to acknowledge and embrace the double digit real estate appreciation of the past. Yet, even the thought of depreciation of real estate is looked on with the same disbelief and distain as if a child molester moved in next door.
There is a proven saying in our stock market: "You can never go broke taking a profit." In many US markets, seasoned investors can still turn a profit. However, if Shanghai's real estate market is any indication of what awaits the hot US markets?..the window of opportunity is closing very fast!
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Bob Schwartz is a certified Residential Specialist w/ 27+ years experience. Bob runs 4 real estates sites including: A downtown San Diego real estate site: http://www.downtown-san-diego-real-estate.com. A costal San Diego real estate site: http://www.la-jolla-ca-del-mar-san-diego-real-estate-encinitas-california.us and free San Diego For Sale By Owner website at http://www.san-diego-for-sale-by-owner.com. These real estate website provide visitors the ability to search the entire San Diego MLS database for property that fits their exact requirements. Also, there are many useful, money-saving real estate articles for both buyers and sellers. Also, a number of the sites show recent closed sales prices for various areas of San Diego California.

San Diego is home to millions of beautiful apartments, condominiums, and single-family homes. Depending on the type of living arrangement you're looking for, and how much space you'll need, you should look at the appropriate San Diego real estate listings that fit your preferences and budget. Here are some of the San Diego real estate listing options you'll find:
Condo listings. The majority of the condos for in San Diego are for sale rather than for rent. Buying a condo could be a good financial move for you; condos are more affordable than homes but they still allow you to build equity and build credit. Condos in the San Diego area range in price from about $200,000 to $800,000. Although this may sound pricey, it is much more affordable than most of the area's real estate. Additionally, many of the condominiums in San Diego real estate are in gated communities, and you can find condos in just about every area of San Diego, from North County Inland and North County Coastal, to Central San Diego and South Bay. And if you have a family, you can still consider a condo?some of them have just as much space as a single-family home, if not more. There are also at least 5 schools in close proximity to each condominium complex, and some neighborhoods even have a community center that will keep you posted on the types of activities that are going on close to the neighborhood, including concerts, fine restaurants, and theater events. Some of the most well-known condo neighborhoods in San Diego include Mission Valley Condos, Cortez Hill, Nestor, and Lemon Grove.
Apartment Listings. When you're looking for apartment listings, set up a price range for yourself, and decide how many bedrooms you want. Be prepared to pay more if you want more space. Prices usually range from about $795-$2300 per month, and you can find studio, one, two, and three bedroom apartments within these price ranges. Of course, there are plenty of apartments to choose from in San Diego real estate listings, but surrounding cities such as Chula Vista, Oceanside, and Solana Beach can provide you with affordable luxury apartments that are outside the hustle and bustle of the big city, but close enough for you to get to any major sports or arts events you may want to attend.
Home Listings. You'll most likely have to go through similar procedures to search through San Diego real estate home listings as you would in any other area. However, after you have searched for some San Diego real estate listings online and via snail mail, you should contact a few real estate agents in the area to ask general questions about the area's real estate options for single family homes, neighborhood demographics, and local school district information. San Diego real estate gives you plenty to choose from, since it's a big city with lots of options for living arrangements. Be sure to work with a trustworthy local real estate agent that has sufficient experience, and schedule a visit to San Diego before finalizing anything?nothing can tell you for sure whether you really want to live somewhere besides seeing it.
With all the options that San Diego real estate has to offer, you'll be sure to find a home?or condo or apartment?that you'll enjoy. Good luck!
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