Downtown San Diego Real Estate News
Downtown Complexes
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Latest 92101 Properties
Condo @ The Grande at Santa Fe Place. $1,169,000
Condo @ Aquavista. $363,900
Condo @ Horizons. $765,000
Latest Real Estate News
Gas Prices: The Tipping Point Toward Better Development? ULI’s Nationwide Survey Explores Consumer Attitudes >> Read more- 6 Real Estate Bargins >> Read more
- Property-flipping Rule Suspended >> Read more
92101 urbanlinving :
406 9th Avenue Suite #208
San Diego, CA 92101
Phone: 619.677.2435
info@92101urbanliving.com
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!
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.
Read the Article
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.