Signs of real estate turnaround in San Diego?

Flippers see prime opportunity in foreclosures priced above $300K

About two years ago, San Diego real estate investor Ronnie Morgan was looking at his home market, which was seriously beat up by the collapse of the housing bubble and corresponding recession, and decided there was opportunity in the air. He got together with a group of partners to form Alegria Real Estate Funds, a company that would buy foreclosed and underwater properties, then flip them relatively quickly back into the market.

Alegria has raised close to $20 million in three funds and earlier this year acquired its 115th house, all in the San Diego area.