I'm looking to buy a house in San Diego and the "low end" of the market is completely gone.
Houses in "not so great" areas like Encanto and Spring Valley are listing for 20% more than they did 2 months ago. And you may not want to live in those areas, at least base on the CrimeMapping.Com map of the areas.
A 20% rise in two months (on the low end) doesn't seem like good economics to me - seems like a bubble, or at least a frenzy.
A house came on the market yesterday in an okay area and my agent has been told that so many offers have come in without seeing the house that it'll be sold as-is and they're taking offers for one week only.
I'll be watching it, but I think this $300,000 house will sell for significantly more than that price.
It won't get back to the $425,000 it sold for in 2006, but that price was just insane.