One thing I am sure of, there is no way to “time” the market, whether you are buying or selling. Yes, you can make an educated guess about when we are at the bottom or top of the market, and you might be one of the lucky ones to get it pretty close. But, we never know when we have pulled out of a down market, or start the downward spiral in an up market until AFTER it happens!
All indications are that the banks will be releasing more foreclosures in 2012 than in 2011. What does this mean to you? Well, if you are selling your home, get it sold now before more inventory hits the market. With inventory low in most areas of San Diego, some sellers are getting multiple offers on their properties, pretty nice! If you are a buyer, prices and interest rates are great. If you find a home you like, jump on it. Prices may decline some more, but they may not — every area is different. But if prices do decline it means you will have more competition. Make your move now!