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MARKET UPDATE

Your Local

Current Real Estate Market Conditions for Single Family Homes

Trends in Pricing Current Levels of Supply and Demand

Value Metrics

Report for the week ofFebruary 15, 2010

Presented by Pickford Escrow - San DiegoPickford Escrow and The Escrow Firmjcurtis@pickfordescrow.com(858) 525-5478

SAN DIEGO, CA 921

Powered by Altos Research LLC | www.altosresearch.com | Copyright 2005-2009 Altos Research LLC

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Median List Price

Median Lot Size

23.1

Percent Relisted (reset DOM)

1748

2.0

6 %

Median Number of Bathrooms

147

Inventory of Properties Listed

$ 280

Percent Flip (price increased)

6,501 - 8,000 sqft

Median House Size (sq ft)

$ 499,000

25 %

4.0

Market Action Index

Median Number of Bedrooms

Asking Price Per Square Foot

10 %

Percent of Properties with Price Decrease

Buyer's Advantage

==

+

==

Altos Research Value Statistics

Most Expensive Listing

Average Days on Market (DoM)

ottom/Fourth

Lower/Third

Upper/Second

Top/First

This Week Real-Time Market Profile Trend

The Market Action Index answers the question "How's the Market?" By measuringthe current rate of sale versus the amount of the inventory. Index above 30implies a seller's advantage. Below 30, conditions give the advantage to thebuyer.

Supply and Demand

Characteristics per Quartile

10 303372

1292.0 43

3.0

76

128

3.0 498

133

73

59

0.25 - 0.50acre

51

$ 380,000

58

60

498

3.5

4,501 -6,500 sqft

542.5

11934,501 -

6,500 sqft

498

$ 225,000

4.0

199

6,501 -8,000 sqft$ 639,000

4.0$ 1,285,000

32

53

2002

Demand measured by the MarketAction Index is increasing and days-on-market is trending downward.Even as more properties comeavailable, these are positive trendsfor the market.

Monday February 15, 2010

Pickford Escrow and The Escrow Firm

498

1462

2.0

The median list price in SAN DIEGO,CA this week is $499,000. The 1992

properties have been on the marketfor an average of 147 days.

Most expensive 25% of properties

Upper-middle 25% of properties

Lower-middle 25% of properties

Least expensive 25% of properties

Quartile Median Price Lot Size Beds Baths Age Inventory New Absorbed DOMSq. Ft.

No change

Strong upward trend Strong downward trend

Slight upward trend Slight downward trend+

==

=

SAN DIEGO, C

City Overview

Least Expensive Listing

Average List Price

Average Age of Listing

1992

$ 13,500,000

$ 70,000

$ 737,892

39

Trend Key:

Home sales have been exceedingnew inventory for several weeks.However because of excessinventory, prices have not yetstopped falling. Should the salestrend continue, expect prices tolevel off soon and potentially toresume their climb from there.Watch prices as the markettransitions from a Buyer's market toa Seller's market.

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Single Family Home

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Pickford Escrow and The Escrow Firm

City OverviewSAN DIEGO, C

Monday February 15, 2010

Median PriceThe market has been on a downward trend recently and this week, while essentially flat, doesn't break us out of that cycle.

90-day Average7-day Average

Quartile PricesPrice weakness is evident across the board. All four quartiles have been in price decline in recent weeks. Look to the MarketAction Index as a leading indicator of the bottom of the market.

First/Top Second/Upper Third/Lower Fourth/Bottom

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Pickford Escrow and The Escrow Firm

City OverviewSAN DIEGO, C

Monday February 15, 2010

Price per Square FootDespite recently falling prices, the price per square foot has stayed reasonably flat. This implies that there's a portion of themarket being priced at a premium. You can investigate this condition in the quartile details.

90-day Average7-day Average

Inventory of Properties Listed for SaleInventory has been climbing lately. Note that rising inventory alone does not signal a weakening market. Look to the MarketAction Index and Days on Market trends to gauge whether buyer interest is keeping up with available supply.

90-day Average7-day Average

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Pickford Escrow and The Escrow Firm

City OverviewSAN DIEGO, C

Monday February 15, 2010

Market Action IndexThe SAN DIEGO market is currently in the Buyer's Advantgae zone (below 30), though not strongly so. The 90-day Market ActionIndex stands this week at 23.08 so buyers should expect find reasonable levels of selection.

Buyers/Sellers Cutoff90-day Average

Market Action Index per QuartileNot surprisingly given the overall Market Action Index, all quartiles are in the Buyer's Market zone with several months ofinventory given the current rate of demand for homes in the quartile. Watch the quartile for changes before the overall marketshifts. Often one end of the market (e.g. the low end) will improve and signal a strengthening market before the whole group

First/Top Second/Upper Third/Lower Fourth/Bottom

Buyers/Sellers Cutoff

Residential house prices are a function of supply and demand, and market conditions can be characterized byanalyzing those factors. Watch this index for sustained changes: if the index falls into the Buyers Advantagezone (below 30) for a long period, prices are likely in for a downward correction.

The Market Action Index (MAI) illustrates a blance between supply and demand using a statistical function of thecurrent rate of sale versus current inventory.

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Single Family Hom

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Pickford Escrow and The Escrow Firm

City OverviewSAN DIEGO,

Monday February 15, 2010

Days on MarketThe properties have been on the market for an average of 147 days. Half of the listings have come newly on the market in thepast 91 or so days.

90-day Average7-day Average

Days on Market per QuartileIt is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles.

First/Top Second/Upper Third/Lower Fourth/Bottom

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Median List Price

Median Lot Size

20.3

Percent Relisted (reset DOM)

3700

4.5

4 %

Median Number of Bathrooms

205

Inventory of Properties Listed

$ 366

Percent Flip (price increased)

0.25 - 0.50 acre

Median House Size (sq ft)

$ 1,250,000

30 %

5.0

Market Action Index

Median Number of Bedrooms

Asking Price Per Square Foot

16 %

Percent of Properties with Price Decrease

Strong Buyer's

+

+

+

==

+

Altos Research Value Statistics

Most Expensive Listing

Average Days on Market (DoM)

ottom/Fourth

Lower/Third

Upper/Second

Top/First

This Week Real-Time Market Profile Trend

The Market Action Index answers the question "How's the Market?" By measuringthe current rate of sale versus the amount of the inventory. Index above 30implies a seller's advantage. Below 30, conditions give the advantage to thebuyer.

Supply and Demand

Characteristics per Quartile

5 16136

1993.5 9

4.0

11

220

5.0 33

139

3

3

0.50 - 1.0acre

10

$ 1,100,000

10

1

33

5.5

6,501 -8,000 sqft

14.5

22224,501 -

6,500 sqft

32

$ 775,000

5.0

263

1.0 - 2.5acres$ 1,640,000

5.0$ 2,893,944

9

5

4201

Days-on-market has been trending uprecently but the Market Action Indexand inventory levels are basically flatand not providing strong indicationsfor the market.

Monday February 15, 2010

Pickford Escrow and The Escrow Firm

32

3299

2.5

The median list price in SAN DIEGO,CA 92130 this week is $1,250,000. The

130 properties have been on themarket for an average of 205 days.

Most expensive 25% of properties

Upper-middle 25% of properties

Lower-middle 25% of properties

Least expensive 25% of properties

Quartile Median Price Lot Size Beds Baths Age Inventory New Absorbed DOMSq. Ft.

No change

Strong upward trend Strong downward trend

Slight upward trend Slight downward trend+

==

=

SAN DIEGO, C

9213

Neighborhood Detail

Least Expensive Listing

Average List Price

Average Age of Listing

130

$ 6,980,000

$ 489,000

$ 1,687,307

10

Trend Key:

Home sales have been exceedingnew inventory for several weeks.While still a Buyer's market, pricesseem to have responded by movingupward. If the demand trendscontinue, expect prices to keepmarching upward, especially oncewe see a Seller's Market.

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Single Family Home

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Pickford Escrow and The Escrow Firm

Neighborhood DetailSAN DIEGO, C

921

Monday February 15, 2010

Median PriceRecently prices in this zip have settled at a plateau even though they dipped this week. Look for a persistent up-shift in theMarket Action Index before we see prices significantly move from these levels.

90-day Average7-day Average

Quartile PricesIn the quartile market segments, we see the top end of the market in this zip code showing weakness in the last few weeks andprices in Quartile 4 are basically flat. Without a strong directional indicator from prices, look to the Market Action Index for aleading indicator of where prices across the board are heading.

First/Top Second/Upper Third/Lower Fourth/Bottom

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Pickford Escrow and The Escrow Firm

Neighborhood DetailSAN DIEGO, C

921

Monday February 15, 2010

Price per Square FootThe market plateau is seen across the price and value. The price per square foot and median list price have both beenreasonably stagnant. Watch the Market Action Index for persistent changes as a leading indicator before the market moves fromthese levels.

90-day Average7-day Average

Inventory of Properties Listed for SaleInventory has been relatively steady around these levels in recent weeks.

90-day Average7-day Average

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Pickford Escrow and The Escrow Firm

Neighborhood DetailSAN DIEGO, C

921

Monday February 15, 2010

Market Action IndexThe SAN DIEGO, 92130 market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market ActionIndex stands at 20.35. With several months of inventory available at the current sales rate, buyers should find ample choice.

Buyers/Sellers Cutoff90-day Average

Market Action Index per QuartileNot surprisingly, all quartiles are in the Buyer's Market zone with several months of inventory given the current levels ofdemand. Watch the quartiles for changes before the overall market shifts.

First/Top Second/Upper Third/Lower Fourth/Bottom

Buyers/Sellers Cutoff

Residential house prices are a function of supply and demand, and market conditions can be characterized byanalyzing those factors. Watch this index for sustained changes: if the index falls into the Buyers Advantagezone (below 30) for a long period, prices are likely in for a downward correction.

The Market Action Index (MAI) illustrates a blance between supply and demand using a statistical function of thecurrent rate of sale versus current inventory.

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Pickford Escrow and The Escrow Firm

Neighborhood DetailSAN DIEGO,

921

Monday February 15 2010

Days on MarketThe properties have been on the market for an average of 205 days. Half of the listings have come newly on the market in thepast 168 or so days.

90-day Average7-day Average

Days on Market per QuartileIt is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles.

First/Top Second/Upper Third/Lower Fourth/Bottom

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Single Family Hom