When will coronado real estate prices begin to increase?
Coronado has been more insulated from price drops than other San Diego areas. Many San Diego markets have been impacted by 100% financing. That is not what affects Coronado. Typical Coronado buyers have their money invested in the stock market, company options, and other financial investments that have been negatively impacted in this current market. Many buyers are just afraid to extend themselves. They are hoarding their assets in case things get worse. That being said, sales are still being made in Coronado. However, prices are softer. If you are a seller, it is the time to hold, unless you have something else to put your money in should you sell. If you are a buyer, it is a great time to purchase in Coronado. It’s not clear if we will ever reach the peaks we have had on the Island because the buyers are going to take time to recover from any financial losses. Coronado is interesting because we have few foreclosures. People tend to have equity in their homes.
