San Diego on Forbes List as #1 Most Overpriced Real Estate Market

Just as we thought we were getting a handle on things, here we go again. MOST OVERPRICED REAL ESTATE MARKET, a great new mantra for Americas Finest City. Matt Woolsey, of Forbes who wrote the article,  admits that " had the weather been factored in, San Diego would have avoided our list of the top 10 most overpriced cities". He added that the rankings were based on a theoretical "price to earnings" ratio. This was attempting to put a price on the measure of what a homeowner paid for every $1 on return and then the housing affordability was also factored in. 

Forbes also identified a list of the least overpriced markets.  The least over priced real estate market city was... drum roll..... Charlotte, North Carolina. Yeah! The median price stands at $190,600. In San Diego, there is nothing resembling a home for that price. To read the article from Forbes, click here on FORBES

The only one good note in the article for San Diego was that it did not rank 1st in any of the individual measurements but taken over all, it landed in the top position as the most overpriced real market in the United States.

re: San Diego on Forbes List as #1 Most Overpriced Real Estate Market

re: San Diego on Forbes List as #1 Most Overpriced Real Estate Market

William,

Great job on your blog post. I think it is a great time to buy in San Diego...make your deal and get great financing. I have owned many pieces of real estate in San Diego, my first being a home I purchased in 1976. In 1979, with 2 guys I went to high school with, and another business partner, we purchased a car wash on the corner of 33rd and Adams Avenue. We still own it and it has been a fantastic investment. The best real estate anyone will every purchase is the real estate the bought yesterday, 5 years ago, 25 years ago. So, while San Diego heated to a "white hot" market, there will be many buying opportunities over the next few years.

Again, great job and keep up the good work.

Saul

re: San Diego on Forbes List as #1 Most Overpriced Real Estate Market

Thank you Saul, I appreciate your thoughts and agree. In the best of times and the worst of times, the oportunities are still abundant. Abundant for future homeowners, abundant for current owners and abundant for the professional that can free themselves of old pardigms.

Your comments and your wisdom in the industry are both totally appreciated. Can we have a spell checker? lol