Today I submitted an offer for a client on a one bedroom/one bath condo here in San Diego.
The condo had been purchased in 2006 for $237,000.
It is in average condition in an average condition condo complex of 70 units.
It had been foreclosed on by the original lender, meaning it is owned by that lender.
The list price of this condo--which I personally inspected--was now $89,500.
I am not at liberty to disclose what my client offered, but this specific example is a fair representation of the values currently available in San Diego for single family houses, condos and multiple unit properties up to four units.
The losses taken by others, including lenders, are producing absolutely incredible opportunities for those able to buy while this highly desirable market (San Diego) is flat on its back.
My telephone # is: 619.743.1424.
I would be happy to chat with parties who have CASH and who can move FAST when presented with opportunities. Claims made will need substantiation before any information beyond the little snippet in this post will be divulged by me. I have no intention of giving away for free information that has taken me years & years to accumulate---and I can identify a BS artist in a New York minute.
Those who have BS or some ridiculous ideas from a real estate seminar will be dismissed out-of-hand.