Okay, for all those naysayers that say the real estate market sucks (can I say that?) I am here to say that the good news is that THERE ARE BUYERS OUT THERE!! About 20 groups came through my open house today in Aspire (detached condos in Scripps Ranch). I’m sure that one of the reasons was the price point (VR $450k-$479k). For most, this particular property was too small at 1,058 sq.ft. and, yes, they all seemed a little timid regarding pricing in general today. But the bottom line is that they all seemed to be serious buyers looking to acquire a property. Very good news, indeed.
Agent Steve
ABOUT THE AUTHOR Steve Berg is Broker/Owner of San Diego Castles Realty. He is an awesome agent and an all-around great guy. When he is not dazzling clients, he contributes the occasional article here. 
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{ 3 comments… read them below or add one }
A “buyer” is one who “buys” something. Therefore, I think your 20 buyers would be more appropriately described as 20 would-be buyers.
Having said that, we discussed the turnout and agreed that this is a modern-day record for us for open house activity. Another of our listings (same general price range), as you are painfully aware, had a single visitor on Saturday and only three on Sunday. If I had just this information to go on, I would conclude that there are no serious buyers (would-be) in sight. I think the only thing we CAN conclude with confidence is that this market in dynamic, which is a fancy way of saying that we don’t have a clue from one minute to the next what is going to happen on any given Sunday.
Yes, a clarification is necessary here. Many “potential” buyers came through. I was on an “open house high” when I wrote that comment. The bottom line is that no one actually made an offer to buy it. This confirms what we have been saying for a while. Call it “dynamic” or “clueless” or whatever you wish. although potential buyers are out there, they are extremely hesitant right now. Everyone is seeking “value” whatever that is today and most are stretching financially to make it happen. One more caveat re: the high level of activity I experienced is due to the fact that this home is one of the least expensive detached homes in Scripps Ranch. This “under $500,000″ price point is very different than the majority of homes on the market right now, where the “average” list price happens to be over over $900,000.
Apology accepted.