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Yes, the San Diego real estate market is sharing the same woes as the rest of the country with the current US credit and housing crisis.

The headlines are just as prominent overseas as they are at home. With the weak Greenback and the increased purchasing power of foreign currency, Europeans, Canadians and foreigners in general are starting to salivate at investment and 2nd home opportunities in "America's Finest City." While a large segment of local buyers are on the sidelines right now waiting for our market to hit "bottom," foreign investors are starting to pull the trigger and seize the opportunity of economic conditions in their favor.

Surprisingly enough, I'm personally seeing the most interest with Canadian buyers at my Carlsbad Real Estate website. Not too long ago, the Canadian dollar, "the Loonie," was only worth 70 cents in US currency. Today, the Loonie has been hovering at about $1.05 to $1.10 US. Not so Loonie anymore, huh?

Canadians looking to purchase homes in San Diego are excited that they are no longer priced out of the market. The dreams of their winter home in sunny SoCal are becoming realities. I'm not saying the weak dollar is a positive thing, but it may be one of the many factors that assist in jumpstarting the San Diego housing market.

Steve Scheckner, REALTOR
73degrees.com
858.761.2375