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Latest 92101 Properties
Condo @ Park Terrace. 
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Penthouse @ Marina Park. Latest Real Estate News
San Diego’s original City Hall building in the Gaslamp District is sold! >> Read more- Home supply increased in February >> Read more
- Program Will Pay Homeowners to Sell at a Loss >> Read more
92101 Urban Living
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Downtown San Diego Real Estate News
The following section of the website is devoted to news articles that have information or an impact on the Downtown San Diego Real Estate Market. I always tell clients to not “take my word for it”. I encourage clients to do their own research and form their own opinions. These are the same resources that I refer to, in order to collect my opinions and facts on the state of the Downtown Market and lifestyle. In this section, it is our opinion that the articles we include do not only present one side of the story. We include EVERY interesting article that we find…not only the ones that shed a positive outlook on the state of the Downtown Market. For your organizational convenience, we have separated the articles into three sections: Downtown, San Diego County, and National Real Estate/Urban Living General. Many of these articles are used in our blogs and monthly newsletters to stimulate thought and debate.
Please feel free contacting us should you have any questions, comments, or opinions on any of the follow articles. We have done everything possible to make this an interactive site for Buyers and Sellers of Downtown Real Estate. To that commitment, please let me know if you have come across an article (published or personal) that you feel needs to be included on the website. If Downtown is, or is going to be your home, then let us share your information with the Downtown San Diego Urban Community!
2010-03-11: San Diego’s original City Hall building in the Gaslamp District is sold!
San Diego's first city owned City Hall, which began life in the 1800s as a bank and is now a restaurant and apartment complex, has been sold for $3.3 million to a family investment group after a failed effort to turn it into Downtown San Diego Condos.
Read the Article
2010-03-10: Home supply increased in February
The supply of homes available for sale in 27 major metropolitan areas rose 4.2 percent in February compared with a month earlier, according to figures compiled by ZipRealty Inc.
2010-03-09: Program Will Pay Homeowners to Sell at a Loss
In an effort to end the foreclosure crisis, the Obama administration has been trying to keep defaulting owners in their homes. Now it will take a new approach: paying some of them to leave.
2010-03-08: California tax law unsettled on home short sale
Accountants say rising numbers of California taxpayers who did short sales or received loan modifications in 2009 now fear they will be walloped anew by a cash starved state government intent on taxing their forgiven debt.
2010-03-05: Study Sees FHA Taking More Risk
Economists from the New York Federal Reserve and New York University warn that the Federal Housing Administration is overlooking factors that signal higher losses, increasing the likelihood the agency may need taxpayer funds.
2010-03-04: 90% of agents down on HAMP
A survey by real estate media and marketing provider Homes and Land found that only 10 percent of the real estate agents surveyed believe the Obama administration's Home Affordable Modification Program (HAMP) is reducing foreclosures in their market.
2010-03-03: Hefty tax bill may hit those who lost home
San Diegans who have lost their homes through foreclosure or short sales thought they had emerged from the dark times and could start rebuilding their lives.
2010-03-02: The big picture: San Diego and megaregions
While San Diegans fret over lost jobs, underwater mortgages, disappearing fire pits and unfilled potholes, a small group of big thinkers is leapfrogging beyond today's crises to take us to the proverbial next level - San Diego as player in a giant "megaregion," stretching from Los Angeles to Las Vegas to northern Baja California.
2010-03-01: U.S. Economy grew at 5.9% annual pace last quarter
The U.S. economy expanded at a 5.9 percent annual rate in the fourth quarter, more than the government reported last month.
2010-02-28: Housing Recovery is looking a lot shakier than expected
The recent slump in housing is making some analysts uneasy about a recovery that many thought sustainable just a couple months ago and comes at a time when the Federal Reserve is nearing the end of a critical, year long program to support the mortgage market.
2010-02-26: Housing market shows weakness for 2nd month
Sales of previously owned homes plunged in January to their lowest level since summer, providing fresh evidence that high unemployment and tight lending standards are outweighing the government's attempts to prop up the market.
2010-02-25: Building permits and new home sales up!
Building permits and new home sales rose last month in San Diego County, offering a bit of optimism to an industry hit hard by five years of downturn.
2010-02-24: New home sales hit record low in January
Sales of new homes plunged to a record low in January, underscoring the formidable challenges facing the housing industry as it tries to recover from the worst slump in decades.
2010-02-23: Foreclosures, defaults fall; analysts urge caution
Foreclosures and defaults continued to fall last month as distress seemed to ease in the local housing market, locally based MDA DataQuick reported yesterday.
2010-02-19: Rates on 30-year home loans fall to 4.93 pct
Rates for 30 year home loans edged lower for the second straight week, a report said Thursday, but remained above last year's record lows.
2010-02-18: Home prices roll backward
San Diego County home prices fell last month, erasing all of the gains achieved in the second half of 2009, MDA DataQuick reported yesterday. But analysts said the figures represented a statistical and seasonal fluke, and predicted the market is likely to see little fluctuation in values all year.
2010-02-17: Homes sales, prices down for January in San Diego County
San Diego County housing prices and sales dropped last month as investors scooped up foreclosure properties and owner occupant buyers held back, at least for the moment, MDA DataQuick reported Tuesday.
2010-02-16: Good real estate news: Home equity is rising again
With all the bad news about underwater homeowners and strategic walkaways, you might think that American homeowners' equity holdings are in the tank. But the least-publicized recent statistic on real estate is that, despite these scary reports, home equity is again on the rise.
2010-02-15: San Diego County third in office leasing in 2009
San Diego County ranked third nationally in office leasing last year, but any recovery in rental rates, occupancy and sales will be slow, according to Jones Lang LaSalle, one of the nation's largest commercial real estate management companies.
2010-02-14: Credit unions push for new loan rules
As politicians bash banks for not lending enough to stimulate the economy, credit unions have launched a campaign to persuade lawmakers to loosen regulations so they can make more loans to businesses.
2010-02-12: U.S. aims to stop backing mortgages
The Federal Reserve plans next month to end a $1.25-trillion mortgage-bond-purchase program that has helped keep mortgage interest rates near a record-low 5 percent.
2010-02-10: Remodeling industry sees business building
San Diego County's remodeling contractors and suppliers, who have seen a sharp drop in business since the housing boom went bust, think things might finally be turning around.
2010-02-08: Official says Fed might buy more mortgage-backed securities
The Federal Reserve would consider reopening its program to support the mortgage market if interest rates spiked or the economy showed new weakness, according to Federal Reserve Bank of New York President William C. Dudley.
2010-02-07: Local response to a changing market
San Diego County home builders, who downsized and scraped by in 2009, are coming back in the opening weeks of 2010 with more than a dozen new projects that feature smaller and simpler floor plans, lower prices, more use of sustainable green technology, and less frills and waste than was common in the oversize “McMansions” of the past decade.
2010-02-06: Million-dollar-plus home sales fall in 09
Million-dollar-plus home sales in San Diego County slipped for the fourth straight year in 2009, MDA DataQuick reported yesterday, proof that the real estate slump continues at the top end even as sales pick up at the bottom.
2010-02-05: Sales of million-dollar homes drop 24 percent
Sales of million-dollar homes in California fell 24 percent in 2009, the fourth straight annual decline and the lowest total in seven years, a research firm reported Thursday.
2010-02-04: Apartment activity is on upswing
San Diego County's apartment market ranks second nationally after Washington, D.C., in its outlook for stability and possible growth in 2010, according to Marcus & Millichap's annual apartment report covering 44 metro areas. Two other reports came to the same conclusion: San Diego's rental market is on the way up.
2010-02-03: California is first in eco-friendly building codes
Even as the construction business continues to struggle, San Diego contractor Russ Earnshaw is embracing a landmark set of environmental codes in California that will raise the cost of new buildings, create more government oversight and increase industry competition once green practices become the norm.
2010-02-02: Housing market: a new normal
A new normal will prevail when the housing market recovers, according to a report released by the Urban Land Institute.
2010-02-01: Long commutes make risky borrowers, study says
The likelihood of mortgage foreclosure increased as neighborhood vehicle ownership rates rose, according to a new study sponsored by the Natural Resources Defense Council. The study looked at trends associated with 40,000 mortgages in San Francisco, Chicago, and Jacksonville, Fla.
2010-01-30: Mortgage rates nearly flat this week
The average rate on a 30 year, fixed mortgage was 4.98 percent this week, down slightly from 4.99 percent last week, Freddie Mac reported.
2010-01-29: Mortgage applications fall 11% last week
Applications for home loans declined approximately 11 percent last week, according to the Mortgage Bankers Association.
2010-01-28: San Diego area foreclosures jump; defaults slump
Home foreclosures in San Diego County surged last month, even as default notices dropped to their lowest level in more than a year.
2010-01-27: San Diego County housing prices buck trend
San Diego County, where housing prices rose and fell ahead of most of the country, was one of only four areas nationally to see an upturn beginning late last year.
2010-01-26: San Diego County home prices on the upswing
San Diego County was one of four metro areas to see an improvement in home prices in November.
2010-01-23: Fannie, Freddie Losses May Hit U.S.
The U.S. government's move to deepen its ties to mortgage finance giants Fannie Mae and Freddie Mac by agreeing to absorb unlimited losses for the next three years is igniting a debate over whether it should bring the business operations of the companies onto its books.
2010-01-22: Rates on 30-year home loans fall to 4.99 pct
Rates for 30 year home loans fell to a shade below 5 percent this week but remained above last month's record lows.
2010-01-21: Hoping for something to build on
The nation’s economic recovery is under way, but the housing market still faces a long road back to normal, three industry economists said yesterday at the annual convention of the National Association of Home Builders.
2010-01-20: New revisions to FHA credit standards
Federal Housing Administration (FHA) may announce new revisions to FHA credit standards as early as this week. Options include raising the minimum down payment, establishing a minimum credit score, increasing the amount that borrowers have to pay for mortgage insurance, and reducing the amount of money sellers can kick in for closing costs.
2010-01-20: San Diego County leads region in home-price gains
San Diego County, with a 10 percent increase, led Southern California in home price improvement last month, although Los Angeles had the highest sales growth on a year-over-year basis, MDA DataQuick reported yesterday.
2010-01-20: San Diego County median housing price on upswing
San Diego County's median housing price rose in December for the first time in four months, MDA DataQuick reported yesterday, adding further evidence that the housing market is stabilizing after four years of declines.
2010-01-20: San Diego County housing prices edge upward
San Diego County home prices rose $5,000 to a median $330,000 in December after staying flat at $325,000 for four months, MDA DataQuick reported Monday.
2010-01-16: Government Mortgage Plans Aids 7% of Borrowers
The Obama administration's mortgage relief plan provided help to 7 percent of borrowers who applied for the program last year, according to the Treasury Dept. Of the nearly 900,000 borrowers who have enrolled in the program, approximately 66,500 have received permanent relief, and another 46,000 have been approved and should be finalized soon.
2010-01-14: Home-price discounts hit new low
A report by Trulia.com found that as of Jan. 1, 21 percent of homes currently on the market have experienced at least one price reduction.
2010-01-12: Banks Brace for Bailout Fee
The Obama Administration is aiming to hit banks with a fee to recoup losses associated with the Government's bailout of financial firms and the auto industry, Administration Officials say.
2010-01-10: With mortgages underwater by a record $745 billion, regulators may force lenders to cut principal
Despite encouragement from policymakers, many banks have moved slowly to aid distressed homeowners. When they do modify mortgages, the fixes, such as interest rate cuts, often are temporary and only put off the day of reckoning.
2010-01-09: FDIC considers plan to penalize banks whose pay practices encourage risky moves
The Federal Deposit Insurance Corp. is considering financial penalties for banks whose pay practices encourage reckless behavior, potentially opening a new front in the federal government's effort to reshape the way bankers are paid, according to people familiar with the matter.
2010-01-08: Some economists not buying proposed homebuyer tax credit
Some economists and advocacy groups are opposed to the governor's proposed new round of home buyer tax credits, claiming the money should be used for community college budgets and health programs.
2010-01-07: Schwarzenegger proposes new round of homebuyer tax credits
Gov. Arnold Schwarzenegger today proposed setting aside $200 million for a new round of $10,000 state tax credits for buyers of new and existing homes in California.
2010-01-06: Time To Reduce Mortgage Principal Payments
James Lockhart, former head of the Federal Housing Agency, told CNBC Tuesday that he wants more generous mortgage modifications, including principal payment reductions.
2010-01-05: Pending home sales fall 16 percent in November 2009
The number of buyers who agreed to purchase previously occupied homes fell sharply in November, a sign sales will fall this winter, undermining last summer's recovery.
2010-01-04: Local Home Values Down 37.9% from Peak
San Diego home values are now down 37.9% from the peak of November, 2005, according to data from Standard & Poor's/Case Shiller that came out Dec. 29.
2010-01-03: San Diego County median price 48.4% higher than in January 2000
For all the talk of the housing bust, San Diego County's median price ended the decade up 48.4 percent from 2000. If in January 2000 you bought a home at the median price of $219,000 and went to sleep like Rip Van Winkle, you awoke at the end of 2009 to see your home worth $325,000.
2009-12-31: San Diego County home prices fall less than other metro areas
San Diego County home prices have fallen less than than all but two other metropolitan areas over the past year, according to the closely watched Standard & Poor's Case-Shiller Home Price Index for October.
2009-12-30: San Diego County housing index up again
San Diego County ranked as the nation's third fastest recovering housing market in October, though the increase in prices is slowing here and elsewhere, according to the closely watched Standard & Poor's/Case-Shiller Home Price Index.
2009-12-29: November sales and price report
C.A.R. reports November home sales increased 4.7 percent; median home price increased 5.8 percent
2009-12-28: Losing a job but keeping your house
The California Association of Realtors said it is extending for an extra year a program to help first time home buyers keep paying their mortgages if they lose their jobs due to layoffs.
2009-12-27: San Diego County's housing slide may set record
Housing construction fell back last month in the usual seasonal slowdown, keeping San Diego County on track to mark its worst year on record, the Construction Industry Research Board reported yesterday.
2009-12-23: Housing distress eases in November
Housing distress in San Diego County eased in November, as lenders posted fewer foreclosures and default notices, MDA DataQuick reported yesterday.
2009-12-21: Foreclosure sales being canceled
Foreclosure sales have been canceled at an increasing rate as loan modifications take hold, according to ForeclosureRadar, a Stockton-area data company that monitors California's distressed housing market.
2009-12-18: Citigroup to suspend foreclosures for 30 days
Citigroup Inc. will suspend foreclosures and evictions for 30 days in a temporary break for about 4,000 borrowers during the holiday season.
2009-12-16: Distressed properties slow San Diego region’s recovery
As San Diego County's housing market slowly climbs back to normal, Southern California as a whole still suffers from a high level of distressed properties, MDA DataQuick reported yesterday.
2009-12-15: Median home price at $325,000 — again
If the San Diego County housing market craves stability, it's got it. For the fourth straight month, the county's median price stood at $325,000 in November, MDA DataQuick reported yesterday.
2009-12-14: Mortgage rates bounce off record lows
Rates on 30 year fixed rate mortgages averaged 4.81 percent this week, a rise from last week's 4.71 percent, according to Freddie Mac.
2009-12-13: Waking from a slumber: local housing
San Diego County's new-home market seems poised to make a small but welcome comeback next year as builders awaken from a three-year hibernation during the worst construction downturn since World War II.
2009-12-11: Chargers: Stadium plan in Downtown San Diego needs public funds
For nearly seven years, the San Diego Chargers have said they would build a new stadium without taxpayer money. Now, they're calling an audible.
2009-12-10: Property tax filing deadline is Thursday December 10th 2009
Thursday is the last day for nearly 1 million property owners in San Diego County to pay the first installment of their tax bill.
2009-12-09: ‘The recovery is about to begin,’ economist says
As housing experts cross off 2009 as the fourth year of the real estate downturn, they see a "dim light at the end of the tunnel" and a "glimmer of hope" in 2010.
2009-12-08: Consumer borrowing falls for 9th straight month
Consumer credit declined at an annual rate of 1.7 percent in October, compared with a 4.2 percent decline in September, the Federal Reserve today reported.
2009-12-07: Mortgage broker doesn’t see market settling until at least 2012
Over the past weekend, members of the Western division of the National Association of Mortgage Brokers took a break from the second-worst real estate market in a century and descended on the MGM resort hotel in Las Vegas for their annual convention.
2009-12-03: MTS balking at additional cleaning at stadium site
The Metropolitan Transit System is open to the city of San Diego buying and relocating its downtown bus yard to make way for a Chargers football stadium but opposed to additional site cleanup, a spokesman said yesterday.
2009-12-02: A first: '10 property taxes will dip
San Diego County homeowners can look forward to a very slight decrease in property taxes next year, the equivalent of two tall mochas at Starbucks, as a result of the first decline in the state consumer price index on record.
2009-12-01: Treasury to name lenders that fail to modify loans
The Obama administration vowed yesterday to shame lenders into moving faster to modify troubled home loans, bringing cheers from housing advocates and San Diego Condo and Loft owners desperate to hang on to their homes.
2009-11-30: Mortgage rates at record lows
Rates on 30 year, fixed mortgages averaged 4.78 percent for the week ending Nov. 25, down from 4.83 percent last week, according to Freddie Mac's primary mortgage market survey.
2009-11-29: California Housing Market Turns Corner
California, one time hub of subprime mortgage lending and the nation's leader in home foreclosures, has turned the corner toward a housing recovery, according to the state Association of Realtors.
2009-11-27: Mortgage defaults down 7% in month
Mortgage defaults in San Diego County fell 7 percent from September to October in a sign that, at least for the moment, housing distress is easing, according to figures released yesterday by MDA DataQuick.
2009-11-25: New U.S. home sales rise 6.2 percent
Sales of new homes rose last month to the highest level in more than a year as strong activity in the South offset weakness in the rest of the country.
2009-11-24: Index shows moderate gain in home prices in September 2009
Home prices in 20 U.S. cities ticked up modestly in September, marking the fifth consecutive month of improvement, according to a closely watched national index released this morning. In Los Angeles, home prices increased 0.7% above their September levels. San Diego was up 1.1% over the prior month. San Francisco saw a 1.7% month-over-month gain. Meanwhile, Las Vegas continued to suffer, falling 1.2% from the prior month.
2009-11-23: Existing home sales at highest level since 2007
Sales activity rises more than expected in October, by 10.1%, to 6.1 million annual units. Existing home sales surged in October to the highest level in more than 2-1/2 years, according to a real estate industry report issued Monday.
2009-11-22: DOWNTOWN SAN DIEGO - Voter support unclear for projects
The emerging vision for Downtown San Diego's skyline includes nearly $1.4 billion in grand civic projects that would serve residents for generations to come.
2009-11-21: Housing fee foes, backers face off
San Diego’s affordable housing advocates and representatives of the business and development community squared off yesterday over plans to revisit a long-standing fee levied on commercial developers to help subsidize new affordable housing for low-income households.
2009-11-20: San Diego Convention Center gets more land to expand
A key piece of waterfront real estate for the expansion of the San Diego Convention Center is being acquired by the nonprofit city agency that manages and markets the Downtown facility.
2009-11-19: San Diego County home prices inch higher
San Diego County marked an economic milestone last month when home prices exceeded year-ago levels for the first time in 40 months, MDA DataQuick reported yesterday. The increase was small - less than a percentage point - and it might be temporary.
2009-11-18: Sothern California median home price increases in October 2009
The median home price in Southern California rose nearly 2 percent last month from September, as the inventory of homes for sale continued to shrink and lenders worked to avoid fresh foreclosures, a tracking firm said Tuesday.
2009-11-17: Pace of mortgage help rising but still slow
Before the housing downturn, mortgage servicing companies had collections depts, that mainly tried to wring payments from tardy borrowers. Now the same depts, augmented with thousands of new employees, are engaged in the far more complex task of figuring out whether millions of borrowers qualify for help.
2009-11-16: Realtors cheer prediction of rising home prices
The National Association of Realtors' chief economist predicted yesterday that housing prices will rise for the first time in four years in 2010 as sales return to a normal pace.
2009-11-15: Realtors: home prices to rise 4 percent in 2010.
Home prices are expected to grow modestly next year and sales will keep rising as the housing market continues to recover from the worst downturn since the Great Depression, the National Association of Realtors said Friday.
2009-11-12: Housing agency's financial cushion sinks
The Federal Housing Administration's financial cushion has fallen to a dangerously low level, but government officials say the agency should avoid a taxpayer bailout under "most economic scenarios."
2009-11-11: Median home prices fell nationwide in 3Q
A real estate group says home prices fell in eight out of every 10 U.S. cities in the third quarter of this year as heavily discounted distressed sales made up 30 percent of all deals.
2009-11-10: New HUD rules aim to get rid of closing cost surprises
Beginning Jan. 1, loan changes and settlement fees will be spelled out on a revised, more consumer-friendly version of the good-faith estimates form that borrowers are supposed to receive within three days of their mortgage applications.
2009-11-09: President Obama signs bill assisting homebuyers!
President Barack Obama signed a $24 billion economic stimulus bill into law Friday, giving tax incentives to prospective homebuyers and additional jobless benefits to those idled by the business slump.
2009-11-08: Skies to be bluer for local real estate
San Diego and Washington, D.C., are the only two major metro areas nationally that will see a slight improvement in real estate investment conditions next year, the Urban Land Institute reported yesterday.
2009-11-06: Homeowner rescue proposed
Financially troubled homeowners facing the possibility of losing their homes to foreclosure may qualify for a federal program that would allow them to stay put while paying rent.
2009-11-05: Frenzy, Deadlines and Price Increases Keep Market Murky
Housing prices in San Diego County rose again in August, rounding out a summer of monthly price gains, according to data released Tuesday. Prices rose a seasonally adjusted 1.52 percent between July and August, the Standard & Poor's/Case-Shiller home price index showed.
2009-11-04: Port of San Diego Attractions Recognized as 'Best in Class'
The USS Midway Aircraft Carrier Museum, Hornblower Cruises & Events, North and South Embarcadero Marina Parks and the waterfront San Diego Convention Center were recognized as "Best in Class" by event planners and readers of Southern California Meetings + Events magazine.
2009-11-03: Home equity loan market remains very tight
Not only are fewer credit lines and loans being granted despite improvement in the rest of the home loan market, the terms are a lot less attractive than before.
2009-11-02: California official warns of loan resets
Homeowners with pay option adjustable-rate mortgage (ARM) loans are sitting on "ticking time bombs that the lending industry has the power to defuse," California's attorney general said in asking 10 lenders and loan servicers for information that would make clear the extent of the problem and what they intend to do about it.
2009-11-01: San Diego Port Says No to Chargers' Stadium at Tenth Ave. Marine Terminal
Stories in the local media continue to refer to the San Diego Unified Port District's Tenth Avenue Marine Terminal as a possible site for a new Chargers football stadium, but Port Commission Chairman Stephen P. Cushman said such a development is impossible.
2009-10-28: Slow home-price rebound for San Diego county expected
San Diego County and most other major metro areas continued a slow turnaround in home prices this summer, a major Wall Street index reported yesterday.
2009-10-28: New home sales fall a surprising 3.6 percent
Sales of new homes dropped unexpectedly last month as the effects of a temporary tax credit for first-time owners started to wane.
2009-10-27: Case-Shiller: Home Prices Rise 1.2% in August
The market value of U.S. homes in 20 major cities rose by 1.2% compared with July, the fourth monthly increase in a row, according to the Case-Shiller home price index released Tuesday by Standard & Poor's.
2009-10-26: Home sales rise 9.4% in September, beating forecasts
Home resales in September clocked the largest monthly increase in 26 years as buyers scrambled to complete their purchases before a tax credit for firs time owners expires.
2009-10-22: Home price index falls 0.3 percent in August
The Federal Housing Finance Agency reports U.S. home prices declined 0.3 percent in August from July. The agency's index is based on loans owned or guaranteed by Fannie Mae and Freddie Mac.
2009-10-21: San Diego County's foreclosures drop slightly
Foreclosures fell slightly in San Diego County last month but defaults rose a bit, a sign that lenders continue to wrestle with beleaguered homeowners who can't afford their mortgages.
2009-10-20: State bans advance fees for loan mod help
Gov. Arnold Schwarzenegger on Oct. 11 signed into law a bill, SB 94, that prohibits any person from demanding or collecting an advance fee from a consumer for loan modification or mortgage loan forbearance services.
2009-10-19: Government unveils new mortgage help
The Obama Administration is unveiling a new program to provide support to state and local housing agencies to provide help to thousands of home buyers and renters including Downtown San Diego Condo and Loft buyers.
2009-10-18: Housing Supply Remains Lean
Sales increased last month and remained slightly above the levels from the same time last year. While sales are still on the weak side compared to San Diego's real estate history, they've soared from the record setting low levels in which they were mired in late 2007.
2009-10-17: Home prices across area ending decline, data show
According to a quarterly breakdown from MDA DataQuick, San Diego County's three-year slide in home prices is ending, neighborhood by neighborhood!
2009-10-15: Committee sends Downtown library plan to council for vote
Supporters of a new main library in Downtown San Diego sidestepped an obstacle yesterday that could have halted the project after nearly a decade of design and fundraising.
2009-10-14: Homeless shelter to go Downtown San Diego again
After a month of political wrangling, the San Diego City Council has picked a site for its winter homeless shelter, sort of. The council voted 6-2 to put the shelter at the same location as last year. 15th Street and Island Avenue in the East Village District as long as the private owner allows it. The owner has previously said he would not host the shelter there this year.
2009-10-13: San Diego Council takes another step forward on new City Hall in Downtown
The city of San Diego took the next step Monday toward building a new $432 million City Hall in Downtown San Diego by entering into exclusive negotiations with a developer.
2009-10-12: Another Strong Month for Median Home Prices in San Diego
The median price per square foot of San Diego resale homes rose yet again in September. Prices by this measure rose 2.2 percent for detached homes, 5.5 percent for San Diego Condos, and 3.1 percent for a volume-weighted aggregate of the two.
2009-10-09: NAR: Appraisal rules undercut tax credit
The Federal Housing Administration's new guidelines for ordering appraisals won't have some of the unintended consequences that those put in place by Fannie Mae and Freddie Mac in May did, the National Association of Realtors says.
2009-10-08: Decline seen in home sales
The California Association of Realtors predicted yesterday that the slumping economy will likely reduce home sales by 2.3 percent next year after they rose the last two years.
2009-10-07: Obama backs extension of tax credit
White House spokesman Robert Gibbs confirmed yesterday that President Obama supports an extension of the first-time homebuyer tax credit, along with prolonging jobless benefits and health care subsidies for unemployed workers.
2009-10-05: Public Workshop Set to Discuss North Embarcadero Port Master Plan Amendment
The Port of San Diego is hosting a Public Scoping Meeting on Thursday, October 15, 2009, from 5–7 p.m. at the Embarcadero Planning Center (formerly Coral Reef Restaurant) at 585 Harbor Lane (map), San Diego, California. The meeting is to solicit public comments regarding the scope and content of the environmental evaluation for significant issues related to the North Embarcadero Port Master Plan Amendment.
2009-10-05: Government Intervention in the Housing Market a Fact of Life
For a long time Rich Toscano have been discussing, with various degrees of rantiness, government intervention in the housing market. When Rich first touched on the subject in early 2007, before any bailouts had begun, some of the potential interventions he envisioned seemed kind of far-fetched. By late 2007, as he noted in a Manimal-referencing followup, many of these same interventions were already underway.
2009-10-03: The Port's New Deal
There's a certain skill needed to control 2,500 acres of the region's most precious land along San Diego Bay, as the seven commissioners of the Unified Port of San Diego do.
2009-10-01: August pending home sales rise to 2 1/2 year high
Aspiring homebuyers rushed to take advantage of a tax credit for first time owners that expires in November, driving up the number of signed sales contracts for the seventh straight month in August.
2009-09-30: Homeowners in financial trouble often redefault
Lenders are ramping up efforts to avoid home foreclosures, but a report by bank regulators says more than half of borrowers who get help fall behind again.
2009-09-29: Home Prices Rebound as Tax-Credit Expiration Looms
A national average of home prices increased 1.6% from June to July, according to the S&P/Case-Shiller report
2009-09-28: Historical Home Sale Volume Measured in Dollars
Given the declines in both prices and volume since the height of the boom, it should not be surprising that the dollar volume of homes sold since that time has dropped hard. The twelve-month average dollar volume hit its bubble-peak high in June 2005 at over $1.83 billion per month of activity.
2009-09-23: Sewer Gas Backs Up Downtown Condo Complex " The Grande"
The Homeowners Association of the Grande North in Downtown San Diego has filed a lawsuit alleging that to much sewer gas from the City's main line is leaking into the building.
2009-09-22: Despite Rebound, Home Sales Historically Weak
Home sales may have recovered strongly from the depths they plumbed in 2007 and 2008, but they are still anemic when compared to San Diego sales activity over the past couple of decades.
2009-09-17: Housing construction up, but picture is mixed
Housing construction rose in August, but the results were mixed, with the large single family sector falling for the first time in six months.
2009-09-16: Southern California home sales take a dip
The six county Southern California region, including San Diego County, experienced a rare dip in home sales in August as the low-cost-foreclosure market contracted, MDA DataQuick reported yesterday.
2009-09-15: San Diego City Council rejects shelter location in East Village in Downtown San Diego!
Proposals to place a temporary winter shelter for the homeless in an East Village District warehouse or in a parking lot in Balboa Park were rejected by the San Diego City Council last night after numerous residents expressed opposition. By a 5-2 vote, the council directed city staff to return early next month with alternative sites that are more suitable and located outside of downtown and its immediate surroundings.
2009-09-15: Foreclosures' Slice of Housing Sales Shrinks
Here's some new MDA DataQuick numbers, measuring sales that closed in August. All Home Sales Up: 3,306 homes sold in August, up 5 percent from August 2008. That's the 14th straight month with a year-over-year rise for home sales.
2009-09-14: San Diego County's median house prices continue rise
San Diego County's housing picture continued to brighten in August as median prices rose for the fifth straight month, MDA DataQuick reported Monday. The median price stood at $325,000, up $5,000 from July and $45,000 higher than the most recent low of $280,000 set in January.
2009-09-10: Public Meeting to Provide Update on Ruocco Park in Downtown San Diego
The Port of San Diego will be holding its second public meeting on the proposed Ruocco Park tomorrow, Sept. 10, 2009, at the Embarcadero Planning Center, 585 Harbor Lane in Downtown San Diego. The meeting will be held from 6 to 8 p.m.
2009-09-09: Loans 'Meant for a Market Where Home Prices Went Only Up'
The New York Times' David Streitfeld checks in today on one of the biggest question marks for housing market stability -- what happens to the holders of interest only loans when they hit the point where their payments skyrocket.
2009-09-08: Port of San Diego Approves Six Environmental Projects Totaling $480,000
The Board of Port Commissioners has approved funding for six environmental projects, including shoreline erosion protection in south San Diego Bay and a white sea bass restocking program at the North Embarcadero. They will be paid for through the Port's Environmental Fund.
2009-09-07: New rules for home appraisals under fire
Critics see changes as roadblock to recovery. Just as San Diego County's housing market seems ready to rebound, a new impediment is threatening to stymie any improvement.
2009-09-03: Cheap Homes Selling Faster, But Not Anything Like Before
For a while RICH TOSCANO has been tracking a set of statistics that highlighted the great disparity between homes sales in higher priced and lower priced areas of San Diego. What he has been seeing for quite some time now is that compared to the expensive areas, the cheap areas had fallen a lot more in price but had experienced drastically higher sales volume on a year-over-year basis.
2009-09-02: July pending home sales rise to 2-year high
A gauge of future U.S. home sales rose more than expected in July to the highest level in over two years as first time buyers rushed to take advantage of a tax credit that expires this fall.
2009-08-31: Home Prices Rise, Uncertainty Persists
Local home prices rose in June, the first month-to-month increase in more than two-and-a-half years, according to the newest Standard & Poor's/Case-Shiller index. San Diego home prices increased a slight 0.67 percent between May and June, according to a version of the index adjusted for seasonal patterns.
2009-08-29: Stimulus gives lifeline to affordable housing in Downtown San Diego
Many moribund affordable housing projects throughout the San Diego county will likely be revived this year by federal stimulus funds, but the money won't be enough to resuscitate the backlog of developments meant to serve the region's neediest.
2009-08-29: Hot day for some cool music in the East Village District
How hot was it when Street Scene kicked off its 25th anniversary edition yesterday afternoon in the East Village District in Downtown San Diego?
2009-08-27: Housing: Still a Long Road to Recovery
The housing market may be busier, but that doesn't mean home values are set to rebound any time soon. If you're selling your home, the good news is that you're likelier to find a buyer now than in the last couple of years.
2009-08-26: July new US home sales up 9.6 percent
Sales of new homes surged 9.6 percent in July, another sign the housing market is climbing back from the historic bottom it reached early this year. Driven by falling prices, the fourth straight monthly increase was greater than expected.
2009-08-25: San Diego County's foreclosure sales down from June
Some of San Diego County's most depressed real estate markets looked a little better in July, while some of the most prosperous looked a little worse, according to default and foreclosure figures released yesterday by MDA DataQuick.
2009-08-25: Index shows home prices increase from 1Q to 2Q
Home prices across most of the country have started to rise from the depths of the housing slump, a critical trend that will help stabilize the broader U.S. economy, according to new figures released Tuesday.
2009-08-24: Snags, Still, in Foreclosure Aid
The Housing Commission wants to try yet another tack to disperse the federal funding that arrived in San Diego in April: buying foreclosures itself, straight from the bank, and then reselling them to first time buyers.
2009-08-20: Affordability of homes in San Diego County dips, but still near record best.
San Diego County housing remains at near record affordability levels, but rising prices could once again make it harder for buyers to land their American dream. The National Association of Home Builders reported yesterday that 56 percent of homes sold locally in the second quarter of the year were affordable to median household incomes.
2009-08-19: Star of India heads to dry dock
The San Diego waterfront's iconic tall ship gets towed off to a South Bay drydock for once-a-decade inspections and hull repairs. Watch the video here.
2009-08-18: SoCal housing prices continue rebound
Southern California housing prices and sales rose in July, continuing a rebound from the lows of a few months ago, MDA Data Quick reported Tuesday.
2009-08-15: Homebuying affordability leaps
Index: 59% of renters should be able to buy; 46% last year. Three years of declining home prices have meant good news for first time homebuyers, many of whom had been frozen out of the market when prices hit the stratosphere.
2009-08-14: Falling prices boost home affordability
San Diego County's declining home prices have boosted first time buyer affordability to 59 percent, more than twice what it was two years ago, the California Association of Realtors reported Friday.
2009-08-13: Foreclosures rise 7 percent in July from June
The number of U.S. households on the verge of losing their homes rose 7 percent from June to July, as the escalating foreclosure crisis continued to outpace government efforts to limit the damage.
2009-08-12: Home sales rise from 1st quarter to 2nd
U.S. home sales grew in the second quarter in 39 states, another sign that the ailing housing market is finally coming to life. The biggest drop, of nearly 53 percent, was in Fort Myers, Fla. Prices also fell 35 percent or more in Phoenix, Riverside, Calif. and Las Vegas. The biggest price gain, of nearly 31 percent, was in Davenport, Iowa, followed by Cumberland, Md., at nearly 22 percent.
2009-08-11: Real estate slump blamed for Barratt American's failure
Barratt American, once one of San Diego County's leading home builders, is going out of business, a victim of the real estate slump and, perhaps, its expansion into pricey housing projects and big master planned communities.
2009-08-07: Survival TV: What's Up Downtown
Well, it's no baby panda being born, but the partners at NBC 7/39 had Kelly Bennet in the studio yesterday for their weekly Survival in San Diego update. Kelly chatted with Catherine Garcia about this $14 million infusion for a downtown affordable housing project and about comparing Downtown San Diego's condo stock to some other big cities:
2009-08-06: Feds Revivie Downtown San Diego Housing Project
Funding sources for affordable housing projects especially have been dropping like flies. That created huge problems for projects like Cedar Gateway, a 65 unit affordable housing complex at 6th Avenue and Cedar Street in Downtown San Diego.
2009-08-05: Oval park isn't part of waterfront plan in Downtown San Diego
San Diego port officials sketched out a large, oval public park to beautify the Downtown waterfront in the area's master plan years ago. But the latest proposal shows a smaller, “hardscape” plaza that would double as the driveway to a cruise-ship terminal at Broadway and North Harbor Drive.
2009-08-04: Price Declines Slowing, But Recovery Still Appears Distant
San Diego County home prices were down 18.52 percent from a year earlier, according to the most recent Standard & Poor's/Case-Shiller index for May, released Tuesday.
2009-08-04: Pending home sales index rises again in June
Pending U.S. home sales rose in June for the fifth straight month, another encouraging sign of life for the embattled U.S. housing market, the National Association of Realtors reported Tuesday.
2009-08-03: Perspective on the San Diego Home Price Rally
Earlier in the week (and incessantly before that) home prices have a seasonal tendency to rise in the spring and summer even during the midst of a multi-year price decline. That sounds like a good enough excuse to make a chart.
2009-07-30: The End of the Housing Bust?
"Home Prices Rise Across the U.S." says the front page of the Wall Street Journal. "3-Year Descent in Home Prices Appears At End," says the same spot on the New York Times. CNBC devoted an hour to the subject last night. Newsweek has called the recession over on its cover this week.
2009-07-29: San Diego County's economy perks up
With local home construction, stock prices and consumer confidence on the rise for the third month in a row, San Diego County's economy seems to be on the road to recovery, according to an index of economic indicators released yesterday by the Burnham-Moores Center for Real Estate at the University of San Diego.
2009-07-28: Index shows home prices increase from April to May
Home prices in May posted their first monthly increase since the summer of 2006, indicating prices are finally stabilizing, data Tuesday showed.
2009-07-27: Vantage Pointe project in Downtown San Diego: a new plan for survival
After three years of construction, the developer of the 679 unit Vantage Pointe project wants to divide the 40 story East Village high rise into five residential projects.
2009-07-27: New-home sales up 11% in June from previous month
Sales of new single family homes were up 11% in June from the month before, as buyers responded to price cuts and tax credits meant to clear the still massive backlog of unsold homes.
2009-07-22: Home foreclosure rate jumps in June
Hopes that a recent rise in San Diego County home prices would signal an end to the housing slump were tempered Wednesday when MDA DataQuick reported that foreclosures in June surged nearly 66 percent over the previous month.
2009-07-21: Loft for Sale: 'It Needs a Life' in the East Village Distrcit in Downtown San Diego
In the interview this weekend with prominent local architect Jennifer Luce, included many of her thoughts about the East Village/Ballpark District in Downtown San Diego, a community that has changed dramatically in recent years.
2009-07-20: Here's a potpourri of housing/economy news for to start off the week in Downtown San Diego
First, an update to my post on the plan to help first time home buyers snap up foreclosures including in Downtown San Diego.
2009-07-16: San Diego County Home Sales
A look at recent home sales in the San Diego County real estate market. Market at a Glance figures are county-wide figures. Median prices for the current month and one year ago for single family homes, condominiums and lofts in Downtown San Diego and new homes.
2009-07-16: Median home price up in June in San Diego County
San Diego County's median home price rose for the third consecutive month in June, hitting $314,250, the highest figure since October, and raising hopes that the region's slumping housing market may finally be poised for a comeback.
2009-07-16: Foreclosures rise 15 percent in first half of 2009
The number of U.S. households on the verge of losing their homes soared by nearly 15 percent in the first half of the year as more people lost their jobs and were unable to pay their monthly mortgage bills. On a state-by-state basis, Nevada had the nation's highest foreclosure rate in the first half of the year, with more than 6 percent of all households receiving a filing. Arizona was No. 2, followed by Florida, California including Downtown San Diego and Utah. Rounding out the top 10 were Georgia, Michigan, Illinois, Idaho and Colorado.
2009-07-15: Housing Bust Leads to Rise in Mortgage Scams
When he was Governor of California in the 1970s, Jerry Brown got the nickname "Governor Moonbeam" for his hippy-dippy ways. But he's pretty shrewdly getting attention these days for targeting scammers who prey upon distressed homeowners.
2009-07-14: Loan Mods: Great, If You Can Make It Through the Red Tape
Last week, wearing shorts in the July heat, Adil Zakaria signed papers to agree to a reduced monthly mortgage payment, the culmination of a process begun before Halloween. The implementation of loan modifications has long been touted as among the biggest hopes that the foreclosure flood will subside in San Diego County. Analysts look at a rocky economy and risky mortgages and forecast more foreclosures ahead
2009-07-13: A Housing Recovery: Not So Fast
While data suggest housing is close to a bottom in some ways, few analysts see a rebound any time soon. Stocks of home builders have had an impressive run recently, thanks to a stream of improving macroeconomic data, including home sales and consumer confidence, climbing an average of 38% since March 9.
2009-07-09: Foreclosures fall 11% in the Second Quarter, Loan Application Up
Prashant wrote recently about a second wave of foreclosures possibly headed our way in the second half of this year as banks tried to unload homes they can't refinance. But for now at least the big wave of bank owned properties appears to have crested. Thank moratoriums, bailouts, reforms, and negotiations that help strapped homeowners hang on to their properties, says the property information specialists at Foreclosures.com.
2009-07-08: A Run On Housing Inventory
The supply of homes available for sale has been unusually low in comparison to demand this year, at least by recent standards. That trend became even more pronounced last month. The number of months' worth of San Diego housing inventory dropped to just over 4 months in June. As the accompanying graph shows, this is quite low in comparison to anything we've seen in recent years.
2009-07-07: Developer hoping to make its mark in Downtown San Diego's The Mark
When San Diego developer Doug Wilson debuted his 32-story, downtown condo building two years ago, he did it in style, feting 650 guests with go-go dancers and acrobatic performances, specialty cocktails and gourmet fare.
2009-07-07: Get ready for another big wave of foreclosures arriving as soon as this summer
First time home buyers and investors are responsible for the spike in sales, especially in hard hit California including Downtown San Diego, Florida, Nevada, and Arizona. But the inventory of bank owned homes is now likely to grow, putting increasing pressure on already low prices. And the rising unemployment rate will only compound the situation.
2009-07-06: Housing's Long-Haul Recovery
Despite recent good news, government help will fade, prices will keep falling, and the real estate bear market could go on for years.
2009-07-02: Perplexed by SD Housing? You're Not Alone
Perplexed by the current San Diego County housing market? You've got company. Buyers, sellers, real estate agents, economists and bankers are all trying to get their heads around the question of where this market is going, and the tea leaves are not exactly easy to read.
2009-07-01: Investing in Home Loans Online
Investors purchase stocks online. Will they buy somebody's mortgage over the Web as well? A start-up called BigBidder.com hopes so. The backers of BigBidder already run lfc.com, a commercial real estate auction site, and Freedom Realty Exchange (fre.com), a site that sells homes online.
2009-06-30: Home values start to stabilize
There is another sign the beleaguered housing market is stabilizing - while a key index of 20 major cities tumbled by 18.1 percent, it marked the third straight month the decline was not a record.
2009-06-29: Imagining Downtown San Diego 500,000 Years Before Condos
Pat Sena is hard to locate among a swarm of construction workers digging a 25 foot hole for a new building in Downtown San Diego. His orange faded t-shirt and hard hat and work boots do little to distinguish him from the rest of the workers on the site.
2009-06-26: A Hotel/Apartment Project, But Where Are the Apartments?
In place of what was once a Super 8 motel at the corner of Fir and Columbia Streets in Downtown's Little Italy in San Diego, a dramatically remodeled 193-room hotel -- now called the Porto Vista Hotel and Suites -- is drawing considerable buzz.
2009-06-24: May new home sales dip 0.6 percent
New U.S. home sales fell slightly last month, in another sign that the housing market's recovery is likely to be gradual and prolonged.
2009-06-23: California and Downtown San Diego 92101 May Home Sales
An estimated 39,051 new and resale houses and condos were sold statewide last month. That was up 2.9 percent from 37,967 in April and up 18.3 percent from 33,024 for May 2008. Sales have increased on a year-over-year basis the last eleven months. California sales for the month of May have varied from a low of 32,223 in 1995 to a peak of 67,958 in 2004, the average is 47,621. MDA DataQuick's statistics go back to 1988.
2009-06-22: 'Vanilla' home loans could benefit borrowers in Downtown San Diego 92101
If President Barack Obama gets his way, consumers who take out mortgages would automatically get a "plain vanilla" loan such as a traditional 30 year fixed rate mortgage unless they opted for a riskier variety.
2009-06-18: Regional home prices end 2-year skid, report shows
In the latest indication that the gloom in the housing market might be lifting, MDA DataQuick reported yesterday that May prices in Southern California rose for the first time in nearly two years, up $2,000 from April to reach an overall median of $249,000.
2009-06-17: Southern California home prices rise in May 2009
MDA DataQuick reported Wednesday that Southern California's home prices rose from April to May, the first month over month increase in nearly two years.
2009-06-16: Homing in on the High-End
Kelly Bennet, The Voice of San Diego, came across a couple of links in the news about high-end homes in San Diego County: First the U-T's Roger Showley described the situation for several would-be home sellers in La Jolla, Rancho Santa Fe and several other wealthy enclaves. Second, here are some data to show the disparity between the supply of homes on the high end and the low end.
2009-06-15: High-end homeowners now feeling the pinch
The real estate slump has arrived in La Jolla, Rancho Santa Fe and other high-end San Diego County neighborhoods. After holding their own in sales strength, sales of homes priced at $1 million or more started to fall a year after lower-priced homes hit the skids.
2009-06-10: Market condition for San Diego
Reported from Dave Harlan. "Without a sense of urgency desire loses its value." Higher inventories in San Diego offer a wider selection. While buyers wait for the bottom, concerned homeowners put off listing until the turnaround. Both for good reason. So where's the urgency? It's the interest rate.
2009-06-09: A Mid-Year Housing Report Card
Could be better, could be worse, but is now the time to buy? As we reach the halfway point of 2009, Alan N. Nevin thought it might be helpful to take a top-down view of where we are, what actually has happened over the past three years and where the market is going.
2009-06-08: The Trouble Lurking in Subprime's Wake
Two years after poor credit borrowers fell into foreclosure due to skyrocketing mortgage payments, trouble is growing in another category of loans, threatening to exacerbate the local housing crisis. There are more active Alt-A loans than sub prime. Of all of the active mortgages in San Diego County, 7 percent are sub prime, and 14 percent are Alt-A. The other 79 percent are prime, typically more conventional loans.
2009-06-04: Housing called undervalued
Report says San Diego prices are 21% below normal. San Diego County used to be one of the nation's most overpriced real estate markets, as much as 40% above historic norms, according to the IHS Global Insight financial analysis company.
2009-06-03: Tips on Buying and Selling in 2009.
Have questions about your investment in Downtown San Diego? Voice of San Diego joined the media partners at NBC 7/39 to share some of the answers that they got from local real estate attorney and broker Gary Laturno last week in the second installment of the guest-host series, Savvy & Sage: Tips on Buying and Selling in 2009. Here are some of the answers: * Could the bank come after me after I foreclose? * What should I do if my payments are too high? * Can I sue if I find mold? * How should I approach three upside-down short sales? * When I'm buying foreclosures, am I responsible for past-due homeowners association bills?
2009-06-02: Convention Center design includes more space and pedestrian bridge
Architects in Downtown San Diego are working on a new San Diego Convention Center wing and they say it wouldn't just be for tourists but would offer something for locals, such as a rooftop restaurant and a pedestrian bridge with easier access to San Diego Bay.
2009-06-01: Prices Slip Again but Number of For Sale Homes Dwindles for Downtown San Diego Lofts and Condos
According to Standard & Poor's Home Price Index local home prices were down 22 percent from their one year ago levels in March. San Diego County including Downtown San Diego Condos and Lofts year over year decline was ninth deepest among the 20 Metropolitan areas measured.
2009-05-28: Home Refinance and Loan Modification Plan
On March 4, 2009, the Obama Administration released detailed guidelines for homeowners to help them determine if they qualify for the Administration's new Making Home Affordable plan. This is a follow up to the Administration's announcement on February 18 outlining their plan to stem the current tide of foreclosures and stabilize the nation's housing markets including Downtown San Diego.
2009-05-27: San Diego County housing prices still slipping but pace slows
San Diego County housing prices continue to decline but at a slowing rate, the widely watched Standard & Poor's Case-Shiller Home Price Index showed yesterday.
2009-05-26: S&P: Home prices fall by record 19.1 percent in 1Q
Home prices fell at the fastest annual rate ever in the first quarter, but the pace of month to month declines continues to slow including in Downtown San Diego, a closely watched housing index showed Tuesday.
2009-05-25: Go Steady, Not Hold Steady
The San Diego city council will soon decide on whether to enter into an agreement with Gerding Edlen Development for exclusive negotiations on a new Downtown San Diego civic center. Jeff Graham, vice president of redevelopment for CCDC, likens the decision not to a marriage, but to dating; in his words, "to see if a relationship down the road is feasible."
2009-05-20: Home prices dip slightly, possible sign of stabilizing
MDA DataQuick reported yesterday that Southern California including Downtown San Diego housing prices dropped only slightly last month. Prices could be stabilizing.
2009-05-19: Sign of optimism: Home prices rise
Cheif executive Borre Winckel at the San Diego County Building Industry Association, said builders believe the local real estate market has reached the bottom. The median home price in San Diego County rose slightly according to last month, MDA DataQuick report, to $290,000 yesterday.
2009-05-18: 92101 Developer Wars heating up - Buyers cashing in!
The stunning 50 percent plunge in Phoenix's home prices has attracted national attention. By contrast, Downtown San Diego's condo and loft market, which has seen values fall by 55 percent, has suffered in relative silence. 92101 Urban Living's client Pete Cretu took advantage of what Pete Thistle and Mike Ciampa are calling "The Developer Wars" by cashing in on a great deal at Alta. See Pete's story in the SD Reader article.
2009-05-14: California new home buyers' tax credit may get boost
Yesterday, Builders and members of the Legislature proposed to triple the funds set aside in February for a $10,000 new-home-buyer tax credit because more than half the money has already been committed.
2009-05-13: San Diego home prices drop at quick pace
The National Association of Realtors reported Tuesday that San Diego County including Downtown San Diego's home prices dropped 29.6 percent over the last year, twice the national rate.
2009-05-12: Families combine resources to buy homes
Catherine Swanson is getting a foot on the property ladder. Recently, her father made her a deal. He would buy a multi unit property and she would live in one of the apartments and manage the other ones as rentals. Catherine said; he is buying me a job! Combine your family resources and invest in Downtown San Diego.
2009-05-12: Housing Recovery: Not Yet, but When?
In 2010 Real Estate markets including Downtown San Diego will stabilize and then recover according to Standard and Poor's.
2009-05-10: U.S. threatens to rescind stimulus money over wage cuts
The Obama administration threatens to rescind billions in stimulus money if Govenor Schwarzenegger and lawmakers do not restore wage cuts to unionized home healthcare workers.
2009-05-06: Construction of Harbor Drive Pedestrian Bridge Continues
Time lapse video captures Harbor Drive pedestrian bridge taking shape in Downtown San Diego. Vision of the bridge becomes clearer as wooden support structure is put in. The Time lapse video is now posted on Centre City Development Corporation web site (www.ccdc.com) and shows the bridge taking shape.
2009-05-05: Bernanke says recovery is around the corner
Downtown San Diego Real Estate will become stronger. Ben S. Bernake, Federal Reserve Chairman told the Congress the the recession is nearing bottom and that growth should begin by the end of the year.
2009-05-04: Housing Rebound? Not So Fast
Wall Street are excited about the rising home sales figures, but there are a lot of reasons to hold on for now, even in Downtown San Diego.
2009-04-30: Downtown San Diego's Cortez Hill Family Center to Expand Facilities
Transitional housing facility to include three story addition and new structure in Downtown San Diego.
2009-04-29: Housing's Long-Haul Recovery
Despite recent good news, government help will fade, prices will keep falling, and the real estate bear market could go on for years
2009-04-28: Home prices post 18.6 percent annual drop in February
Another sign the housing crises could be bottoming. For the first time in 25 months the decline was not a record after home prices dropped sharply in February.
2009-04-27: Homebuilders: A Report Card
Standard & Poor's doesn't expect demand for new homes to bounce back quickly because of the glut of foreclosed homes in many markets including Downtown San Diego.
2009-04-25: Blue skies are seen for housing market
According to an author of one of the most watched housing indexes, Downtown San Diego and the nations housing market might start to recover this year, but only if alot goes the right way.
2009-04-22: Where Rental Properties Pay Off the Most
Investing in rentals is increasingly affordable. Purchases made now will reap handsome rewards when the economy rebounds. Lower purchase prices and interest rates are making it easier, even for an individual investor to find a single family home, a Downtown San Diego condo, or a small apartment building that brings in more than enough rent to cover mortgage, taxes, insurance, maintenance, and other expenses.
2009-04-21: Pedestrian bridge span put in place downtown
Early Monday morning, crews swung in the last piece of the span for a $26.8 million dollar pedestrian bridge. Downtown San Diego Harbor Drive's view is now forever changed.
2009-04-20: Option ARM Resets Delayed
A new wave of foreclosures in Spring 2009 was warned from real estate forecasters a year ago. Foreclosure or bankruptcy for many Americans including San Diego loft and condo owners may have been putt off by as much as a year. This Spring thousands of mortgage loans won't be changing.
2009-04-16: Home prices still flat as sales rocket 43%
2009-04-15: Get home inspected before marketing
2009-04-14: A Turnaround May Be In Sight
According to an article in the Realty Times "We're past the rock bottom of the down cycle for real estate and now we're moving into recovery mode"
2009-04-13: White power
2009-04-08: County's rental market 'loosening up a little'
2009-04-07: Timeless rite of spring
2009-04-06: Ballpark, as catalyst, is batting .500
2009-04-02: Signs suggest county housing market recovering
2009-03-31: US home price drops set records in Jan.
2009-03-26: New management takes over historic Old Towne Shops
A frequented entertainment, dining and shopping spot for Downtown San Dieagans is under new management, again
2009-03-24: Officials seek new power over financial companies
2009-03-21: Wall Street resumes rally following housing report
2009-03-20: Housing data has glint of stablity
2009-03-19: Gray whale still cruising around San Diego Bay
2009-03-18: Livid Democrats demand AIG return bailout bonuses
2009-03-17: St. Patrick's revelers in US fete all things Irish
2009-02-27: More than 25% of homes in county worth less than mortgage balance
2009-02-26: Some ZIP Codes Immune to Crisis
2009-02-11: Columbia District by Type of Sale
2009-02-11: BoConcept Grand Opening
2009-02-05: Featured Property - #1615 at Smart Corner
2009-02-04: Gaslamp by Type of Sale
2009-02-03: Little Italy by Type of Sale
2009-02-03: Featured Listing at Smart Corner
Check out this featured listing for a gorgeous condo at Smart Corner in the East Village
2009-01-30: Marina District by Type of Sale
2009-01-29: East Village Neighborhood by Type of Sale
2009-01-28: 2008 Sale Activity by Month
2009-01-27: 2008 - Types of Downtown Sales
A quick glimpse of the types of sales in all Downtown San Diego neighborhoods by type.
2009-01-23: Happy Hour at The Glass Door
Enjoy Happy Hour everyday at the Glass Door in Little Italy atop the Porto Vista Hotel.
2009-01-22: 2008 Breakdown of 92101 Neighborhoods by Sale Type
A charted graph of Resales, Developer Sales, REO's and Foreclosure sales in 92101 Neighborhoods.
2009-01-21: A Drop in Home Prices Nearly 35%
2009-01-20: Let the Inauguration Celebration Begin
2009-01-15: Health and Well-Being in 2009. Get Involved!
Club Motivate has teamed up with an amazing group by the name of Rock Cancer C.A.R.E. for a 2009 Health and Well-Being fundraising event.
2009-01-15: BoConcept: Tips for Downtown San Diego Urban Design
2009-01-06: Downtown San Diego Central Library Events
2008-12-19: Balboa Park panel issues report
2008-12-17: Protecting and Increasing Species Diversity in the San Diego Bay
In an effort to revitalize the waters surrounding our city, 350 artificial reef structures have begun to be installed off the shoreline of Bayside Park in Chula Vista.
2008-12-16: A Glimpse at San Diego's Rental Market
2008-12-12: The “F” Plan at Electra - Check it out!
Check out this insider information if you’re interested in the highly sought after “F” Plan.
2008-12-10: Some No-Nonsense Truth About Vantage Pointe
The harsh realities of the current state of this 679-unit development, Vantage Pointe.
2008-12-03: San Diego Bay Parade of Lights
Sunday, December 14th kicks off the beginning of the San Diego Bay Parade of Lights
2008-12-01: Balboa Park December Nights 2008
Friday, December 5 kicks off the holiday season at Balboa Park’s December Nights Festival.
2008-11-24: Urban Design Exhibit
Nine leading San Diego architects “that are redefining housing design, development and urbanization in the region” will feature work at the Museum of Contemporary Art.
2008-11-21: SPRING BRINGS ACE HARDWARE TO DOWNTOWN SAN DIEGO
Sterling Hardware Group, a San Diego based independent Ace Hardware retailer, will open an Ace Hardware store in downtown San Diego next spring at The Lofts at 655 Sixth Avenue.
2008-11-20: 944 Magazine and the UnScene Photography Tour
2008-11-17: Foreclosure Rate Watch: October Foreclosures Drop Dramatically
2008-11-14: “It may not be in vogue to be optimistic about the future of Downtown San Diego’s housing market. But I am.” -Doug Wilson, Founder and CEO of Douglas Wilson Cos.
Given the current state of the economic and real estate industries it’s easy for us as buyers, sellers, brokers, developers and the like to adopt an increasingly negative outlook. Doug Wilson, the founder and CEO of Doug Wilson Construction, however, does not wish to participate.
2008-11-07: CCDC News Digest (10-22-08) Board Meeting Summary
The CCDC 10/22/08 Board Meeting is summarized relating to decisions made about the Navy Broadway Complex (the NBC).
2008-11-06: San Diego’s Harbor Drive Pedestrian Bridge Breaks Ground
Downtown San Diego adds more to its already impressive infrastructure with the Harbor Drive Pedestrian Bridge. Ground breaking took place on Thursday, October 23.
2008-11-05: Home Price Index Still Tumbling in San Diego
In the October 28th edition of SignOnSanDiego.com, Staff Writer Roger Showley illustrates the recent drop in the home price index in San Diego County.
2008-10-24: Bigger and Better Homes
The San Diego Metropolitan featured an article pertaining to Dennis Sarraglio's (BOSA Development) analysis of the current state of the Downtown San Diego Real Estate resale market.
2008-10-24: Saving the 10th Avenue Marine Terminal
The 10th Avenue Terminal Deck continues to be a heated sourced of debate as it pertains to development of Downtown San Diego Real Estate infrastructure. The following article references the side of the debate in favor of protecting the Port of San Diego and its employees.
2008-09-08: 'Green' developer has lower-cost proposal to rebuild City Hall
Last week, the new renderings of a "proposed" construction of a new Downtown San Diego City Hall were presented by the CCDC. The potential for "green construction" would make it the first of it's kind for City Halls in the United States, and eventually save the city money in administration office leases that would be consolidated. For more renderings and information be sure to check out or blog entitled "A New City Hall".
2008-08-23: Urban Trees 5 Unveiled
As part of the Port of San Diego's Public Arts program, the 5th exhibit of Urban Trees was introduced to the North Embarcadero...from The Cruise Ship Terminal all the way to Hawthorne Blvd.
2008-08-23: Tall Ships Arrive for Festival of Sail 2008
This yearly festival along the North Embarcadero features historic ships from a time now long lost. What a great experience to walk along the Waterfront and tour some fantastic ships.
2008-08-23: San Diego's own SOHO
92101 rban Living was able to contribute to this article featured in the Real Estate Section of the LA Times. See how the East Village Neighborhood has developed into a nationally recognized Urban area.
2008-08-14: Developers: Terminal deck could solve woes
A $2 Billion Dollar proposal to develop the 96 Acre parcel just Souteast of the San Diego Convention Center. The possibilities for the development of the project could include a Chargers football stadium, sports arena, the expansion of the San Diego Convention Center, a luxury hotel – or a combination of all of the above. All of this in Downtown San Diego?
2008-07-26: Renters Go Downtown To Save On Gas, Commuting
Renters would rather pay a higher rent to live closer to work and mass transit than pay extra money for gas and a longer commute. This is a trend seen not only in Downtown San Diego, but all over the United States.
2008-07-24: Crime Rate in San Diego Continues to Drop
San Diego is one of the safest and cleanest Big Cities in the Nation. The article notes lower city crime statistics due to a larger number of officers on the street.
2008-07-22: SoCal Home Price Drops From A Year Ago
Still a "buyers" market out there! Median prices are down...meaning it is not a good time to be a seller. The amount of Jumbo loans taken out in June of 2008 has also decreased. This means that lower priced homes are selling, and buyers are putting more money down to qualify.
2008-07-19: The Million-Dollar Lifestyle
Ever wonder what a million dollars can buy you in Downtown San Diego? This article outlines some of the options available including Harbor Club, Renaissance, Smart Corner, Bayside and Park Place.
2008-06-27: Gas Prices: The Tipping Point Toward Better Development? ULI’s Nationwide Survey Explores Consumer Attitudes
As gas prices rise, urban areas all over the United States will look to increase urban center development and public transportation. Gas prices, and the effect that they have on a households monthly cash flow, are causing many to incorporate changes to where and how they live in relation to work, play, and transportation.
2008-06-24: 6 Real Estate Bargins
In this national buyers market, there are several regional areas to find the best deals. San Diego is mentioned as one of the 6 best areas. Almost 85% of all foreclosures and distressed properties in San Diego are found in 20 Inland sub-communities. It is interesting to note that some of the best deals in Downtown San Diego are on the luxury level over $1MM. In this price category values have not decreased, but kept from increasing to overvalued levels.
2008-06-18: Property-flipping Rule Suspended
The White House temporarily suspended a rule that imposed a 90-day waiting period before foreclosed homes could be sold to receive government loans.
2008-06-18: Is America's suburban dream collapsing into a nightmare?
For years since World War II, suburban communities all over the country have seen overwhelming growth and development. Long commutes and a desire to be close to work, live, and play have encouraged many Americans to rethink the value of revitalized Urban Centers. What happens to the suburban neighborhoods as affluent young professionals and downsizing "baby-boomers" decide that Urban Living is more desirable? Read about the potential transition of the traditional suburban "American Dream".
2008-06-13: MTS Trolley makes Fare Change
Public transportation is so important to any urbanite. Changes in costs are always a noteowrthy item for obvious reasons. San Diego MTS has scrapped the zone fare system to charge a flat fee of $2.50. ALso increased are the bus and rail fares. Increasing fuel costs have spurned this on.
2008-06-05: What Housing Recession?
All property is not considered equal in San Diego County. Two thirds of all distressed property in the county can be found in only 20 of over 90 sub-markets. These markets have an average home value of $334k. In communities that have good location (like being near the beach) had negligible foreclosures. In 20 San Diego sub communities where home prices averaged $1 million or more, NO foreclosures were recorded. Read more of this Metropolitan article by numbers “guru” Alan Nevin to see how important Location is to overall Real Estate values In San Diego.
2008-06-04: The Most Expensive Real Estate Markets in the World
Ever wonder where the most expensive place to live would be? The following article lists the ten most epxpensive places in the world by "price per sq ft". San Diego isn't even mentioned, or even close for that matter ($512 sq/ft). Manhattan is number 6 if that provides any indication.
2008-06-03: Urban Living Is Kinder to the Planet Than the Suburban Lifestyle
Is it possible to limit Global warming just by living in Downtown San Diego? This Wired article suggests that Living in Cities is more environmentally friendly than that of suburban counterparts. Could it be...is Manhattan the greenest city in the country? Access to public transportation, as well as efficient heating and cooling systems of urban high-rises are citied as the main factors.
2008-05-30: Declining Market Tag May Threaten Recovery
Syndicated real estate columnist Kenneth R. Harney from the Washington Post Writers Group reported that on May 16th, Freddie Mac and Freddie Mae lifted the impact of their “declining markets” policy guidelines. Previously, these guidelines required borrowers who were purchasing a property in a “declining markets” area (of which 92101 was included along with many regions of the country) to contribute an additional 5% down vs. those buying in non-declining market areas. Declining market designations have been in place since December 2007. Although private mortgage insurance (PMI) companies have not followed suit yet, this change adopted by Fannie and Freddie represents a positive step in the right direction for home lending. This syndicated column was published in the San Diego Union Tribune on May 25th, 2008.
2008-05-29: Analysts: Many won't return when it's over
The building industry of new Residential Homes has experienced a drastic change as a result of the national housing issues. Here in San Diego, residential developers and builders have had the slowest year since the 1950’s. Even when home sales and the real estate market improve, many builders and developers will move from suburban areas to focus on Urban Landfill. A shortage of zoned approved land is cited as one of the main contributors. As a result, dense urban areas like Downtown San Diego will see an increase in value and attention from Developers such as DR Horton and K Hovnanian.
2008-05-28: The Housing Crisis is Over?
This article from the Wall Street Journal suggests that April 2008 represented the “bottom” of the Housing Market Decline. Author Cyril Moulle-Berteaux suggests that affordability will be the main contributing factor toward the shift in home prices and sales. During the Housing Boom that peeked in 2005, a monthly mortgage could absorb as much as 37% of a households’ monthly income. In areas where real estate values have decrease by 10% to 20%, the average homebuyer would only need 19% of monthly income contributed toward housing. The author cites the “Big Three”: National Supply Inventories, Local Market Conditions, and Construction Activity as indications that a turnaround in the National Housing Market has already begun.
2008-05-17: 10 markets set for steep losses
2008-05-17: Rates on 30-year mortgages edge down slightly
'Rates on 30-year mortgages edged down slightly this week, but remained above 6 percent for the third straight week. Mortgage giant Freddie Mac reported Thursday that 30-year fixed-rate mortgages averaged 6.05 percent this week, compared to 6.06 percent last week. It marked the third week that 30-year rates have been above 6 percent...'
2008-05-06: Neighborhood of E-ville
The East Village is downtown's up-and-coming neighborhood with a ll sorts of great restaurants and businesses popping up. This article from the Reader give a great overview of what's going on in what the writer calls "E-Ville"
2008-04-03: Set in concrete
Fire-resistant homes stand as sentinels in a blackened landscape. There's a home-building technology used widely elsewhere in the United States that saves money on energy, stands up to natural disasters such as earthquakes, tornadoes and hurricanes and resists termite infestation. And now that technology – concrete home construction – can claim new supporters for another attribute, a dramatic ability to survive wildfires.
2008-04-03: Mortgage rates fall
'Borrowers looking for fixed-rate mortgages can now find the lowest rates in more than a month. But experts warn the decline may not last for long. Rates on fixed-rate mortgages dropped sharply in the past week, after the Federal Reserve took several historic steps to shore up the financial markets. The rate on a 30-year loan dropped to an average of 5.87%, down from 6.13% a week ago, according to new Freddie Mac figures released Thursday. A 15-year mortgage now can be had for 5.27%, down from 5.60%'
2008-04-03: Democrats seek quick strike vs. foreclosure
'Leading Democrats in the Senate said Monday they would try to force a vote this week on legislation designed to help troubled mortgage-holders stay in their homes. Democrats will try to win Senate consideration for their Foreclosure Prevention Act, which aims to help families avoid foreclosure and aid the recovery of communities already harmed by the crisis. Republicans blocked an earlier attempt to debate the bill last month.'
2008-03-29: Time to hunt for a vacation home
At the risk of tipping my hand (real estate agents, stop reading now), I'm thinking of buying a second home. Like most of you, I own my primary residence, have no intention of moving soon and am locked into a fixed mortgage at a decent rate.
2008-03-29: How to find a contractor you'll love
One upside to the popped real estate bubble is that hiring contractors has suddenly become a lot easier. A couple of years ago, it seemed like you had to be an A-list celebrity or a hedge fund tycoon to get one to so much as call you back. But with homeowners increasingly hesitant to plow big bucks into home improvement, even the best contractors might pick up your call before the second ring.
2008-03-29: Mortgage rates mixed
Mortgage rates were mixed this week as the index of leading indicators fell for the fifth straight month, home prices continued their decline and consumer confidence reached a 5-year low, Freddie Mac reported Thursday.
2008-03-20: City called on to suspend tax breaks
2008-03-14: Top Tips: Selling your home
'CNN's Gerri Willis offers tips on how to make your home more attractive to potential buyers...'
2008-03-14: Mortgage application fees may rise on appraisal reform
'It's going to cost some borrowers even more to get a mortgage beginning in 2009. In a recent agreement with New York State Attorney General Andrew Cuomo, Fannie Mae (FNM) and Freddie Mac (FRE, Fortune 500) pledged that they will only buy mortgages from lenders that use independent appraisers. Since these two companies account for more than 70% of all mortgage loans, virtually all lenders will comply with the guidelines....'
2008-03-08: Mortgage applications up slightly
'Mortgage application volume increased 3% for the week ending Feb. 29, according to a weekly application survey by the Mortgage Bankers Association. The trade group's application index increased to 684.9 from 665.1 the previous week. Refinance volume increased 4.5% during the week, while purchase volume grew 1.4%. Refinance applications accounted for 52.4% of all mortgage applications during the week ending Feb. 29....'
2008-03-08: High-cost mortgages just got cheaper
'Mortgage costs just got cheaper for buyers in high-cost areas. The size of loans that can be guaranteed by Freddie Mac and Fannie Mae was raised today by the Office of Federal Housing Enterprise Oversight. The new, higher loan limits will stay in effect through the end of the year, allowing the government sponsored enterprises (GSEs), to buy much higher-priced mortgages in some areas of the country...'
2008-03-06: Units for homeless are raising concerns
'Build a low-income apartment project to help families – fine, said people in the Cortez Hill neighborhood where it was proposed, but when the city decided to include 23 units of “supportive housing” – one-bedroom apartments for recently homeless people with mental disorders – neighbors no longer thought it was fine...'
2008-02-29: Mortgage woes force Thornburg to pay $300M
'Thornburg Mortgage Inc., a mortgage lender, said Thursday it has been the subject of margin calls on a portfolio of securities backed by alt-A mortgages...'
2008-02-29: Home price plunge accelerates
'The decline in residential real estate accelerated though the end of 2007, and home prices in 20 key markets plunged 9.1% for the year, according to a survey released Tuesday...'
2008-02-29: Insuring your home against disaster
'If last fall's devastating California wildfires weren't enough of a wake-up call, consider this: Nearly 60% of homes nationwide don't carry enough insurance coverage to be fully rebuilt. On average those homes are underinsured by 21%. To give yourself a chance of being made whole, follow these steps before and after disaster strikes...'
2008-02-22: Jumbo mortgages: The best deals
'For many house hunters, these are good times. Home prices have fallen 10% or more in once-hot markets, and interest rates on mortgages of $417,000 or less have sunk to their lowest levels in four years. Today a family with solid credit and enough cash for a 20% down payment can lock in a rate of only 5.9% on a 30-year mortgage, according to Bankrate...'
2008-02-22: Buying a Home: Top things to know
CNN Money posted top ten things to remeber when buying a home...some helpful hints and always a good thing to review!
2008-02-22: California January 2008 Home Sales
2008-02-19: Group says more Californians can afford to buy their first home
'A trade group for real estate agents says the percentage of Californians who can afford to buy their first home increased in the last three months of 2007 compared to the same time a year earlier. The California Association of Realtors said Tuesday that 33 percent of the households in the state earned enough money to afford to finance an entry-level home in the fourth quarter, up from 25 percent in the same three months of 2006...'
2008-02-15: Mayor outlines vision for city in annual address
'With nearly the entire City Council, the city attorney and other local and international leaders flanking him, Mayor Jerry Sanders stood on the stage of the newly renovated Balboa Theatre in downtown and offered a vision of accountability, cooperation and restoration of San Diego’s reputation as America’s Finest City...'
2008-02-15: A whale of a tale on tour
'Every year as the Eastern Pacific gray whale migrates from the Bering Sea to lagoons in Baja California, people from all over the world travel to San Diego to witness the event during what is known as whale-watching season — a window that extends from late December through early April...'
2008-02-15: Beating foreclosure: Who to call
'Homeowners in trouble have to wade through many options to see whether they qualify for any assistance from their lender....'
2008-02-15: 7 ways to fight property taxes
'Assessments are expanding, but prices are contracting. Ready to hit back? Here's how....'
2008-02-15: Ode To The Apartment Market: In good and bad times, a solid investment in San Diego
Alan N. Nevin explains why owning an apartment/condo is a good idea in San Diego...a good investment? Informative and well thought out article...
2008-02-14: Eye-catching span may get 2nd look
'When a pedestrian bridge between Petco Park and the Convention Center was envisioned four years ago, officials agreed to make it look grand, an iconic entryway into downtown. Now that the original $12.8 million price tag has grown to as high as $30 million, they may rethink that...'
2008-02-05: Top things to know when Buying a Home
CNN Money's helpful checklist of things to do when buying a home...great information!
2008-02-05: Home price drop is biggest ever
Home prices were down 8.4 percent in November compared with last year in its 10-city index, a record low. The 20-city index also fell 7.7 percent.
2008-02-05: Home ownership in record plunge
'The housing and mortgage meltdown caused the biggest one-year drop in the rate of homeownership on record, according to government figures released Tuesday. The decline, while expected, is yet another indication of the housing market's sudden and dramatic turn....'
2008-02-05: Most middle class still can't buy a house
'Prices have fallen but not by enough to make it possible for nurses, fireman or teachers to buy homes of their own says a new report....'
2008-02-05: Foreclosures: 100 worst hit zip codes
'Seven of the top 100 worst hit zip codes last December were in the gaming capital, according to statistics compiled for CNNMoney.com by RealtyTrac, which markets foreclosed properties online...'
2008-01-31: Economic activity ticks down in December
'Key index falls by 0.2 percent in December - third straight month of declines - after tumbles in previous months.'
2008-01-31: Refinancings fuel mortgage application surge
'Mortgage application volume rose 7.5% during the week ended Jan. 25, according to the trade group Mortgage Bankers Association's weekly application survey. The MBA's application index rose to 1,054.9 from 981.5 the previous...'
2008-01-31: Economy much weaker than expected
'Economic growth nearly ground to a halt in the last three months of 2007, according to a government report released Wednesday that showed the sharpest decline in growth since 2003. The report raised fears of a recession and increased hopes that the Federal Reserve will make another significant interest rate cut today...'
2008-01-31: Rates on 30-year mortgages rise after 4 straight weekly declines
'Rates on 30-year mortgages rose for the first time this year after four straight weekly declines. Economists attributed the slight increase to the rebound in rates that occurred on Treasury bond markets. Rates on 30-year mortgages are heavily influenced by the direction taken by 10-year Treasury bonds...'
2008-01-29: Despite downturn, study shows many still can't afford homes
A pretty slanted article, however it does provide some helpful tips and statistics... 'Despite a real estate downturn that has made housing in San Diego County more affordable, a new nationwide study shows that the county's median priced home of $440,000 remains out of reach for most workers here....'
2008-01-29: California Foreclosure Activity Still Rising
Data Quicks latest report...good statistical information to see the real state of the market rather than opinions...'The number of mortgage default notices filed against California homeowners jumped last quarter to its highest level in more than fifteen years, a real estate information service reported....'
2008-01-24: Existing Single-Family Home Sales Drop
2008-01-24: Fed cuts interest rates by 75 bps
'The Federal Reserve unexpectedly slashed a key interest rate by a bold three-fourths of a percentage point on Tuesday, responding to a global plunge in stock markets that heightened concerns about a recession. The Fed signaled that further rate cuts were likely...'
2008-01-18: Timing the housing market
2008-01-18: California December 2007 Home Sales
Data Quick News latest report...great info for analyzing the state of the market yourself...
2008-01-09: Waterfront projects gain panel backing
'The Broadway Pier cruise ship terminal and the Lane Field development – two key components of the city's ongoing waterfront makeover – won crucial support from the San Diego Port Commission yesterday...'
2008-01-02: Southland prices fall again; sales perk up
'Southern California home sales bucked the seasonal norm in November and rose slightly over October, thanks to bargain shopping and an uptick in new-home sales...'
2008-01-02: California November 2007 Home Sales
'A total of 25,578 new and resale houses and condos were sold statewide last month. That's down 0.98 percent from 25,832 for October, and down 38.8 percent from 41,809 in November 2006....'
2007-12-21: County unemployment at 4.8% in November
'The unemployment rate in San Diego County was 4.8 percent in November, unchanged from the previous month, but above the year-ago estimate of 4 percent, the California Employment Development Department reported Friday...'
2007-12-21: County foreclosure activity down sharply in November
'The pace of foreclosure activity in San Diego County slowed markedly in November, but analysts say it's too soon to predict an end to the surge in defaults that has characterized 2007....'
2007-12-21: Pension board adopts plan to comply with tax law
'The governing board of the city of San Diego's pension system on Friday unanimously adopted a 14-point plan negotiated with the Internal Revenue Service to bring its programs and practices in compliance with federal tax law....'
2007-12-18: Speed, luxury at SD boat show
2007-12-05: California October 2007 Home Sales
2007-11-30: City to examine funding for opening fire stations
'San Diego will study the costs of adding fire stations and firefighters, following Sen. Dianne Feinstein's sharp criticism of the city this week.'
2007-11-30: Homeowners express concerns over insurance
'Victims of the recent wildfires told the state's top insurance regulator last night that a familiar problem is surfacing in the wake of the mid-October blazes that destroyed more than 1,700 homes in San Diego County.'
2007-11-27: Mayor Sanders in Sacramento to Lobby for Funds
'Mayor Jerry Sanders is expected to be in Sacramento Tuesday to lobby on behalf of San Diego for its share of $2 billion in funds for projects to improve the movement of goods around the state...'
2007-11-27: S&P says 3rd-quarter housing prices dropped by sharpest rate in index's 21-year history
'U.S. home prices fell 4.5 percent in the third quarter from a year earlier, the sharpest drop since Standard & Poor's began its nationwide housing index in 1987 and another sign that the housing slump is far from over, the research group said Tuesday...'
2007-11-15: County urges fire victims to use $30 million cleanup fund
'County officials are urging property owners who need assistance in removing fire debris to take advantage of a $30 million fire cleanup program by submitting necessary documents to the county. '
2007-11-15: Fire-protection fee on rural property recommended
'Staring at an empty emergency firefighting account, lawmakers are being urged to revive a controversial fee on rural property protected by the state, including broad swaths of San Diego County.'
2007-11-08: Interior Designer Puts Contemporary Imprint on Downtown Projects
'Award-winning interior designer Jules Wilson is changing the face of downtown San Diego residential interiors — one hot project at a time.'
2007-11-08: Record California Foreclosure Activity
DataQuick, a subsidiary of Vancouver-based MacDonald Dettwiler and Associates, monitors real estate activity nationwide and provides information to consumers, educational institutions, public agencies, lending institutions, title companies and industry analysts.
2007-11-08: Home Owners Can Apply Directly to Assessor's Office for Reassessment
'Property owners who suffered more than $10,000 damage during last month's wildfires can apply directly to the county Assessor's Office for a reassessment of their property value...'
2007-11-07: Council approves density ordinance
Home builders will be allowed to boost the number of units permitted in their projects and seek other land-use incentives as long as they agree to include affordable housing in their developments, the San Diego City Council decided yesterday.
2007-11-07: Record California Foreclosure Activity
2007-11-02: Coordinated cleanup plan taking shape
Officials for the city and county of San Diego announced a plan to clean up fire debris.
2007-11-01: Homeless Shelter To Be Placed Near Petco Park
Due to the large amount of complaints by East Village resident's, the CCDC and some Downtown representatives, the winter homeless tent is being moved near Petco Park...
2007-11-01: Unpaid dues
Homeowners associations countywide are hit by foreclosure fallout and feeling the pinch of ...
2007-10-24: Regardless of ZIP code, we're all in this together
The fires grow in size and numbers, and so does the number of people volunteering their time, money, and supplies to help those in need. San Diegan's have come together in this time of need to help their friends, family and neighbors....
2007-10-19: Winter Shelter
It has been decided that a homeless shelter is to be erceted in the center of the East Village during the winter months. A large tent that will serve about 200 homless daily is controversially with residents of the newly developed East Village.
2007-10-17: September Southland home sales lowest in more than 20 years
2007-10-17: 'Housing decline is still unfolding'
Treasury Secretary Henry M. Paulson Jr. comments on the recent state of the housing market
2007-10-17: Housing slump persists
"Home sales throughout Southern California plunged last month to their lowest levels in more than a decade, with prices falling in most areas as well, DataQuick Information Systems reported yesterday. But there was a big asterisk attached to the monthly data. The report showed a lingering impact of the summer credit crunch through a scaling back by lenders in financing jumbo loans used by nearly 50 percent of all buyers in the region. Jumbo loans are $417,000 and up."....
2007-09-13: Sluggish Incomes Add To Housing Slump
2007-09-13: More Bad News Seen For Home Sale Prices: Modest Rebound In 2008?
"An industry trade group said Tuesday that sales of previously-owned homes are expected to drop 8.6 percent this year in the wake of tighter credit for home mortgages. The National Association of Realtors is also hoping for sales to post a modest rebound in 2008."
2007-09-13: Housing decline continues
San Diego County housing prices continued their decline in August as home sales dropped to a 15-year low. San Diego isn't as bad off as other counties in Southern California.
2007-09-13: Foreclosures reach record high in S.D.
'San Diego's distressed-property market grew substantially larger last month as mortgage defaults topped the 2,000 mark for the first time and foreclosures hit a record that was more than six times what they were a year ago.'
2007-09-12: Countywide median house price drops $20,000 in a year
The price of a home in San Diego County dropped to a median $475,000 last month, down $20,000 from a year ago and $14,000 from July! With 19.4% fewer sales than a year ago as well, still isn't as severe of a decline as others in Southern California.
2007-09-06: California Foreclosure Activity Continues to Rise
2007-09-06: Southland home sales slowest since 1995
"Southern California home sales remained at their lowest level since the mid 1990s..."
2007-09-06: Subprime mortgage woes push new foreclosures to a record high
2007-09-04: Bush Pledges Help from the FHA for Delinquent Subprime Borrowers
The Bush administration's new assistance plan for the mortgage market could help tens of thousands of subprime borrowers facing unaffordable payment increases or heavy federal taxes after loan modification workouts or short sales. Read more about what this entails.
2007-09-04: Home Insurance: What Does "Insured" Mean To Me & My Property?
2007-09-04: Federal Reserve, other banking agencies, urge loan companies to help prevent mortgage defaults
"The Federal Reserve and other banking regulators issued special guidance Tuesday urging loan service companies to work with borrowers in danger of defaulting on their home mortgages. The new guidelines are not mandatory, but the regulators expressed the hope that companies that collect payments on mortgages would heed the advice..."
2007-08-31: Citywide recycling measures proposed
San Diego up-ing recycling measures to keep up with proposed State increase of a 50% recycling standard. What can San Diego residents expect?
2007-08-31: Bush outlines aid for mortgage holders
In an effort to address rising foreclosures fueled by the mortgage crisis, President Bush outlined some ways in which struggling borrowers can keep theie homes. President Bush's intention is not to bail out lenders, but to provide more flexibility from their lenders or government. Read On...
2007-08-28: California July 2007 Home Sales
Intersting data on California's home sales July, 2007. What is up and what is on the decline from last month? Read more...
2007-08-28: Approving San Diego's new general plan just first of many battles ahead
Some 28 years since its last update, the city of San Diego's new general plan, that provides a structure for the next 20 years, is scheduled to be presented before the San Diego City Council sometime in October. Read more about the future plans and issues being faced.
2007-08-28: CCDC keeping the ball rolling on more parks for a growing downtown San Diego population
Downtown San Diego continues to grow, with about 28,000 downtown residents, Parks are needed. There are numerous dog owners, young urban families, and plenty of city-living-folks that would appreciate more parks downtown! See what is being planned.
2007-08-22: Foreclosure's other shoe: a big tax bill
2007-08-22: Condo growth slowing down
Downtown San Diego condo growth is hitting the brakes. Construction costs and stricter lending rules are being pointed to as the reasoning; some projects have been sold, others are redesigned.
2007-08-22: Fed cuts discount rate by 1 half-percentage point
"The Federal Reserve approved a half-percentage point cut in its discount rate on loans to banks Friday, a dramatic move designed to stabilize financial markets roiled by a widening credit crisis. The decision means that the discount rate, the interest rate that the Fed charges to make direct loans to banks, will be lowered to 5.75 percent, down from 6.25 percent."
2007-08-22: Trade group seeks break for state's home buyers
'As the nationwide credit crunch continued to shake Wall Street and the lending industry yesterday, the California The Association of Mortgage Brokers urged Congress to give a financial break to the state's home buyers. Leaders of the trade group asked federal lawmakers to declare California a “high-cost” state and raise the limit on the size of loans that can be purchased or guaranteed by Fannie Mae and Freddie Mac.'
2007-07-31: Ballpark Village developers propose huge hotel to replace housing
The developers of the 3.2 million-square-foot Ballpark Village have changed their plans, proposing instead a 1,650-rooom hotel, the biggest in San Diego County, instead of building more than 1,200 housing units. Other portions of the plan may still be subject to change, but currently call for 300,000 square feet of office space, and 115,000 square feet of retail along with the other components.
2007-07-31: Agency board OKs plan for waterfront makeover
'San Diego officials gave a green light to developer Douglas Manchester's massive waterfront makeover plan yesterday, despite objections from the public that the project caters to the wealthy and sits on an earthquake fault.'
2007-07-31: Local Real Estate: Decline in Sales, Increase in Foreclosures
Local KPBS radio correspondent Tom Fudge speaks about being a homeowner in San Diego, and becoming one. What does this mean? Does the forecast predict that Homeowners will gain or suffer loss?
2007-07-31: Roundtable: While U.S. outlook gloomy, San Diego will fare better
The U.S. economy seems to be looking towards some darker times over the next few years, but according to local economists, San Diego should fare comparatively well. San Diego does has a diverse economy, and luring natural advantages that draw tourism. These advantages could give the city some protection from national economic problems in the future.
2007-07-31: Housing prices in county hold their ground
This is an interesteing article on San Diego's housing Market. Currently, despite concerns over a the number of foreclosures and a continued decline in sales, San Diego County's housing prices still ended the first half of the year on surprisingly stable ground. It is important to educate oneself as a seller or buyer, especially in this market today. Read what some experts have to say about buying and selling in San Diego in this cuurent forecast.
2007-07-11: Port, county gets means for improvements
2007-07-11: New cruise ship terminal enters final permitting stages
Read about the latest progressions with the new cruise ship terminal and how it is affecting the downtown landscape and residents.
2007-07-11: Central Library asks: what’s your story?
San Diego's Central Library is no longer just a quiet sanctuary to check out books, read and study...they have now entered the new age. At a hands-on kiosk, library visitors can record their own music, photos, videos and speech into three- to five-minute DVDs as part of the San Diego media arts center’s ongoing story-telling project.
2007-07-11: U.S. Grant’s renovation uncovers layers
Treasures found during the U.S. Grant's renovation that reveals even more history of our beloved San Diego!
2007-07-11: Airport Authority pulls U-turn in plans
One of downtown San DIego's biggest landmarks is our airport, right in heart of the city. It's one of the most beautiful landing paths and brings character to the hustle and bustle of this waterfront city. Following voters’ rejection of Proposition B in last November’s election, the city’s airport authority board has changed its tune. Read about new plans for Lidenburg airport and how this will affect San Diego residents.
2007-07-11: History Not As We Know It
San Diego is rich with historical places and events...Wyatt Earp and the Gaslamp District. Many do not know the history of the buildings downtown. With all the stunning new high rises being erected, the city appears brand new, but infact there are hundreds of historicallt preserved sites. What does it take to have this historical recognition and what does this mean for residents and buyers...read on!
2007-07-11: High-End Housing’s Role In Building Centre City Commerce
There is an enormous expansion in the supply of higher-end homes in the downtown San Diego area. Will this play a role over the next decade in convincing business owners and executives that Downtown is a place to move or expand their companies? Read what the experts think...
2007-07-10: Working Waterfront’s ‘Heart’ Keeps San Diego Economy Pumping
San Diego's port houses hotels, parks, pleasure-boat marinas, traditional industry, and so much more. San Diego's Port truly supports this beautiful city!
2007-07-10: Hypocritical Bailout
This article + links helps piece together some of the reasons why the current foreclosure problem is so complex...read on!
2007-07-10: Agency named renters' advocate
If you are a renter in San Diego, or plan to be, read this article! There is a new agency whose purpose is to deal with complaints of housing discrimination and to help you resolve any conflict you may have with your landlord. And the help is free.
2007-07-10: Carrier Johnson Joins Team to Design $300M Mixed-Use Project with Multi-family Component
The San Diego skyline is getting a face lift. There have been numerous progressions over the past couple of years that is making this intimate urban city a place that you will never need to leave. 'Carrier Johnson, a sustainable design company, has recently announced that it has been selected to be part of a team comprised of the Centre City Development Corporation (CCDC) and the City of San Diego Redevelopment Agency that will negotiate the proposed development of a major mixed-use project at Seventh Avenue and Market Street in downtown San Diego.' It will consist of market-rate and affordable housing as well as hotel and retail components. In addition, the developers plan to build a 650-car public parking garage. This will benefit all downtown San Diego residents as well as visitors.
2007-07-10: San Diego: Between Innings
The bottom line is that this is a great time to be a buyer in the East Village. There are so many opportunities for buyers, developers are forced to compete and give huge incentives. These deals represent some of the best Downtown has to offer. It is interesting to note that the author decided to use Park Terrace as the example, as it has the least amount of sales. They are priced high, and do not have a very accessible sales office from the street. The sales numbers in surrounding competition like ICON, Alta, The Mark, The Ledged, and Nexus are all either sold out or within 90% sold. The author also notes the potential for the long term in the East Village. This is a huge point, because property values will continue to rise as inventory is absorbed and infrastructure continues to develop with new restaurants, clubs, shopping boutiques, coffee shops, sports club, and entertainment venues.
2007-06-19: Downtown San Diego Condo Prices Jump 4% in April 2007
Data just in for the month of April shows that in the downtown neighborhoods condo prices rose 3.9% per square foot over March 2007...read more...
2007-06-14: Nightclub gives glitz, glamour and a whole lot of Sting
One thing about living in Downtown San Diego, is that there is always something to do. Go watch the game and grab one of San Diego's best burgers at Nicky Rottens, go see the Padres at beautiful Petco Park, and at night check out some of the night clubs. This article is about one of downtown San Diego's most popular and 'swanky' clubs, the Stingeree.
2007-06-14: City takes baby steps toward massive
The joint-powers authority overseeing the overhaul of San Diego’s waterfront met to discuss a timeline for making the North Embarcadero Visionary Plan a reality. Read more about the progressions made and the timeline being set for this $228 million makeover of Harbor Drive and the bay front walkways between Laurel and Market streets.
2007-06-14: Urban Land Institute Honors Smart Growth Projects And Plans
Read more about San Diego's 'Smart Growth Projects' and plans that were recognized by the Urban Land Institute, an international real estate research and education organization...
2007-06-07: Parents, museum push for park
San Diego's downtown attracts a lot of young families attracted to the urban lifestyle. In this article check out the efforts being made to bring to life a childrens museum and 1 acre childrens park.
2007-06-07: Home Sales Reaching 1992 Recession Levels
Foreclosures in San Diego County are up 600 percent this year...so is it a buyers market? Read more in this article about the progressions and declines in San Diego's real estate market.
2007-06-07: Living la Vida Luxury, Downtown-Style
Downtown San Diego has a wide variety of things to offer. Great resturants, shops and nightlife, Petco Park, and exciting urban living. Check out what it's like to live in downtown San Diego and how far your money will go in this exciting city!
2007-05-31: 1Q new-home sales in San Diego higher than 2006 first period, prices also up
2007-05-31: Joint powers set timeline for selecting North Embarcadero design team
'After 10 years of planning, the Port of San Diego, the Centre City Development Corp. and the city of San Diego have set a timeline for the redevelopment of the North Embarcadero.' Those who live in this area, or plan to relocate in San Diego's highly sought after Marina District, this will raise property value! Read more about the plans and dates for this new edition to San Diego.
2007-05-21: Irvine planning 'elegant' tower
Another new edition to the San Diego skyline! The Irvine Co. debuted what it calls a dignified rather than flashy design yesterday for its planned 34-story office tower in downtown San Diego, the latest proposed addition to the city's skyline.
2007-05-21: Port blesses Lane Field waterfront development's concept
The city of San Diego approved a $325 million dollar waterfront destination with two luxury resorts, shops and resturants. For anyone living in this area already or thinking about buying, property values are going to sky-rocket! The one thing to calculate is any view obstructions, beyond this, this area's value is on the rise!
2007-05-10: Urban Real Estate Services Launches Division to Handle Infill Projects
In this 'San Diego Business Journal' article, read how Urban Real Estate Services has created a new division to accomidate smaller urban developers in redevelopment and urban infill areas.
2007-05-10: Agents, Builders, Developers, Union Members Giving Back to Those Who Need Help
See how real estate, construction and design businesses are stepping up to give back to the community, and keeping San Diego real estate progressing in this article from the San Diego Business Journal...
2007-05-01: Protect the coastal height limit
Many San Diego residents are voting to keep coastlines visible from inland by enforcing building height codes. Read more about how the San Diego landscape is progressing.
2007-05-01: Housing may have hit bottom: Prices to start rebound next fall, forecast says
One of the state's leading economic 'think tanks', UCLA's Anderson Forecast, released a study today showing that the worst may be over for San Diego County's housing market. San Diego's median sales price has stabilized over the past three quarters, even as foreclosures rose. Read more about San Diego's housing market forecast in this Union Tribune article....
2007-05-01: Vacation-home frenzy: Baby boomers are snapping up units in county and elsewhere, pushing market up 4.7 percent
With San Diego's year around gorgous weather, beautiful beaches, variety of communities and things to offer, it is no wonder why people would want to buy a vacation home in this area. Many investors exited the residential real estate market last year, while vacation homebuyers kept shopping...why is this? Read on...
2007-05-01: Planes, Trains and Automobiles: Creating Quiet Space in a Noisy City
Part of the excitement of living downtown is all the bustle and action outside your door, but we all need our peace and quiet. With modern soundproofing, city dwellers quality of life no longer needs to be compromised by outside noise. Many major downtown developers, such as Bosa Development who have completed five downtown San Diego residential projects and has three more under construction all with modern soundproofing, have taken building codes for noise levels to heart. Read more about the progressions being made to help keep downtown living quiet and comfortable in peaceful matrimony with the excitement and life that fills downtown San Diego.
2007-04-25: Manufacturing An Apartment Shortage
The rental market plays a very important role in the San Diego housing market. This is especially true in the Downtown San Diego market, as condos and apartments make up 99% of the urban housing in 92101. Due to the increase of condo development and condo conversion, the rental inventory remains very competitive. There is a high demand to live Downtown, and housing costs for owners are high when you add monthly HOA to an expensive mortgage payment. A 700 square foot unit can rent for over $1000 monthly. Vacancy rates are low for Downtown, and this is very good news for investors who can afford to purchase a rental property.
2007-04-24: A Housing Market In Transition
Ultimately, everyone is wondering how the Real Estate market is going to perform in 2007. With the fist quarter coming to an end, many analysts have put out their opinions. The lack of buyer confidence in 2006 has left a very diverse inventory for buyers. Prices have stabilized, and buyer activity has resumed. Buyers in today’s market are going to find a selection of good deals from sellers, and many opportunities for incentives from developers. Many predict that this new buyer activity will again cause the supply of housing to correct. Prices will reflect this correction by coming up by the third quarter of 2007. Basically, buyers look for those great deals while the inventory is high, and while interest rates remain low.
2006-03-03: An Upswing In Condo Conversions
2006-03-03: Affording More Affordable Housing
2006-02-15: Diversified Local Economy Expected to Buoy San Diego's Housing Market
2006-02-09: February 2006 Downtown Economic and Housing Statistics Overview
For those of you interested in analytical data, graphs, and hard evidence statistics…this is the resource for you. The company Market Pointe (a real estate data and statistics company) has put together a statistical overview of all areas of the Downtown San Diego Real Estate Market. As always…the numbers don’t lie. Have a look for yourself.