A Most Unorthodox Market: Bob Dyson
September 1st, 2008 Categories: At Home in Del Mar, Real Estate News, San Diego Foreclosures, San Diego Market Trends, San Diego Real Estate
by Roberta Murphy
Last Thursday, I had the opportunity to sit across from Bob Dyson at his office in Del Mar and listen to this real estate legend discuss today’s real estate market. We were also fortunate to have Chris Dyson videotaping much of the discussion, which we have divided into four segments.
At the start of our interview, Bob Dyson said these are the worst conditions he has seen during his 40 years in the real estate business–citing symptoms such as lack of buyer confidence and the drastic deflation in certain real estate markets–including San Diego, of course, along with the rest of California, Nevada, Arizona and Florida.
The causes stem from irresponsible mortgage lending practices from 2003 to 2007 and the resultant and reactionary tightening of mortgage funds. Dyson simply calls it a “lending debacle.”
At the same time,he says, there is a large and growing backlog of buyers who want to buy–and are just waiting for reassurance that the real estate market has really bottomed, or is at least close to that point.
See below (and stay tuned for a radical solution):
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