Summer House Buying - it's time!

The San Diego housing market is currently in a very weird state. If you're lucky enough to be shopping in the $650K and higher range, take a breath. You have time. You have your choice of houses and don't need to rush and can negotiate the best deal for you.

Condo buyers? Regardless of price (unless it's under $100K), you too have your choice and can negotiate accordingly. This is double-y true if you're buying downtown. Take your time.

And if you're in the million plus range, take a long nap before your search. Because every single home will still be there when you wake up. Maybe go to Europe for a few months. Have a great time! Enjoy Europe! Then come home, take a look around and those same houses will be there and they'll be cheaper. You've never had it so good.

Foreclosures are hitting the higher end market with a great deal of steam. It's a very bleak year for the rich seller. He or she isn't so rich.

Now, for the buyer of a single family house in the $200K - $350K range: Do you have your body armor ready? Is your loan completely preapproved? Have you eaten your Wheaties?

If not, better go do those things. This is war, this is business and this won't be fun.

If the house is NOT a short sale, you'll have a ton of competition, maybe upward of 30+ contracts on a clean house.

The hottest area in the county, white hot in fact, is the western pocket of Chula Vista. All those quaint, lovely older homes with wood floors and big windows? Super hot, buckle up. It's very hard to grab one even with a great offer, a great cover letter and all your ducks in a row. Inventory is very down because of the pressure.

What's left out? The houses in the $400K - $500K range. Those homes are sort of sitting there, ho-humming their way through summer 2009.

But as I told a buyer the other day: today's white hot $299K house is tomorrow's white hot $399K house.

Buy now, or forever hold your peace. You can go to Europe later. Get your good deal house now. Buyers under $400K I am talking to you!