Many homebuyers are coming in with cash to buy Downtown San Diego Condos and Downtown San Diego Lofts. The graph above shows us the percentage of cash investors for the first quarter of 2012. There has been a good portion of increasing cash buyers here in Downtown San Diego where we started the year with a total of 23 percent.  February increased with 16 percent and March increased with another 9 percent leaving March with a total of 48 percent cash vs. 52 percent financing.

As Downtown San Diego Real Estate Specialists, we are seeing bidding wars going on where some units have multiple offers. The seller can compare offers and will most likely go with the bid offering cash, a short close of escrow as well as a an increase in the earnest money deposit.  It might seem unfair but a cash buyer is key when it comes to being able to stay in the game of bidding wars and get the opportunity to close a deal.  

Did you guys know that May is the National Bike Month? It is celebrated annually every third Friday of the month and cycling activities are happening all over San Diego where residents and visitors can participate. Bike to Work 2012 that is taking place on May 18th this year, is a cost-saving commute choice, not to mention environmentally friendly, that more and more San Diegans are happy to choose in front of car, bus and trolley.

You will automatically be in the run for many great prices, such as a new bike, tickets to the San Diego Zoo, Safari Park passes, free Car2Go memberships, transit passes and more should you choose to register for Bike to Work Day 2012.

For more information about how to get started and to be able to get bike maps of Downtown San Diego as well as other areas of San Diego visit icommute or e-mail biking@sandag.org.

The Loft complex M2i located in the middle of the East Village/Ballpark neighborhood in Downtown San Diego is once again inviting home owners and renters in the building to another social evening event. Between 4pm to 7pm on Saturday May 19th a wine tasting event is taking place. Bring a bottle of white or red wine and be in the drawing of wining a price.

M2i is a loft style building with 7 floors, 230 units and was completed by Citymark in 2005. You have to different entrances, one on 10th Avenue and one on Island Avenue. You will find amenities such as a roof deck with two BBQ’s and a fireplace, designed entrances by Martinez and Cutri, secure underground parking, a lush landscaped inner courtyard and a fully equipped fitness center. Most units in M2i have that open true loft warehouse feeling with high ceilings while others have built out bedrooms. This is a fantastic building with features such as: granite kitchens, stainless steel appliances, unique floor plans, 11 foot ceilings, Cat 5 data wiring, energy efficient air conditioner systems, forced air heating, floor to ceiling windows, RG6 Quad Shield cabling for high-speed internet and low emission glass with dual glazing for sound insulation and sun protection.

We are sure that you have notice the progress of the 1st Phase of the North Embarcadero Visionary Plan as construction is taking place down by the water front in the Columbia neighborhood in Downtown San Diego. The Port of San Diego is frequently updating us on the progress that is currently happening and this week’s news is the following.

Construction currently taking place:

• Starting Monday May 7th, there will be closures on West Broadway. For the coming 3 months USS Cal Builder is in the process of constructing the median and southern half of the new West Broadway. Traffic heading east will be redirected to take another route but traffic coming west will still be able to make it through.
• There will also be installations of utilities and construct of the new street of West Broadway during May and June. Right south of the Navy Pier, along the east side of North Harbor Drive construction will take place as well leaving one of the northbound lanes to be closed.
• In the corners of Pacific Highway and West Broadway night work will happen during the hours of 9pm and 5am. No lanes will be closed at this time.

For more information visit The Port of San Diego where you can find more details in the progress of phase 1 and what this all includes. Check out the video above that will show you the finished product.

To read 92101 Urban Living’s former blogs about this project click on A look inside Downtown San Diego’s North Embarcadero Visionary Plan Public Infrastructure Project and North Embarcadero Visionary Plan - Moves forward in Downtown San Diego.

This digital slideshow customized with Smilebox

This is a spacious Street facing Downtown San Diego Condo in Palermo that has 749 square feet of living space, 1 bedroom, 1 bathroom and a good size balcony with views of the Little Italy neighborhood. This 5th floor home has carpet in the bedroom and living room, tile flooring in the kitchen and bathroom, good amount of storage, an open floor plan and a spacious kitchen. There is a stackable washer/dryer to the left of the kitchen right before entering the bathroom. The bedroom has a good size closet and there is also a storage closet in the entry/living room area. 1 underground secure parking space is included in the rent. See photo slide show link further down the page.

$1,650/month,12 month lease term, security deposit is equal to one month’s rent, 1 underground parking space included, pets allowed with a pet deposit of $500/pet!

One of the best features about the Palermo complex is location. To the South is the short four block path to the vibrant Gaslamp Quarter, Petco Park and the San Diego Convention Center. To the North is Balboa Park and to the West, just down the street is the heart of Little Italy with lots of art stores, restaurants & Cafés. New and exciting restaurants are just around the corner giving you countless options for a relaxing afternoon or an exciting evening. Right the corner is BODYFIT, The Kebab Store and Extra Ordinary Deserts. You will find two courtyards at Palermo, one with a pool, spa and tropical landscaping and one other smaller one with lush landscaping.

For more information contact 92101 Urban Living at sofia@92101urbanliving.com or call 619-992-5144.

This is a Park Blvd West street level corner Downtown San Diego Condo with two stories and an urban city feel. With a unique floor plan, where the kitchen and living space are located on the first floor and a master suite with room for an office or nursery on the second floor. There are also dual entrances. You can choose to enter this home via the main entry on either Park Blvd or 11th Avenue or you can use the street entrance taking you directly into the unit’s living room space. The best features are; lots of storage, custom wood plantation shutters, stainless and granite kitchen, two private balconies, recessed lighting and large plank wood floors on the first floor. This home is approved for VA Financing. Click the following link to access a photo slide show of the unit. Slide Show

Listed price is $349,900 where 1 secure underground parking is included!

Park Blvd West is located in the East Village/Ballpark neighborhood. You have the new Jefferson Law School, the new Downtown San Diego Library that is currently being built, Trolley access and Petco Park right around the corner and walkability to everything Downtown has to offer. You will find a community inner court yard with a spa, waterfall and fountains. This is a secure building with underground parking and bicycle storage.

For more information contact Sofia at 619-992-5144 or e-mail sofia@92101urbanliving.com

The Downtown San Diego Real Estate Market has seen an increase of sold Downtown San Diego Condos and Downtown San Diego Lofts should you compare the month of January to March 2012. In 92101 Urban Living’s former blog; “Downtown San Diego Condos and Lofts sold in March 2012”, 51 homes sold in January compared to 85 homes sold in March is discussed. The average sales price has been going up as well. March showed an increasing number of an average sale price of $472,696 compared to $380,970 in January. The contributing factor is the 6 homes selling over the $1 Million price range.

As many of you know…improvements are being made to Lindbergh’s International Airport in Downtown San Diego. The article, Airport’s Green Build Reaches Halfway Point, posted by the San Diego Business Journal outlines the progress being made and the overall goal of the project. According to the San Diego County Regional Airport Authority, Lindbergh Field’s $1 billion Green Build improvement project is about halfway to completion. The project’s aim is to add 10 gates to Terminal 2 and a new dual roadway for easier access.

Currently, construction crews are building the roadway system by building dual bridges that will connect the terminal to the curb pavilions as well as the concrete decks. The upgrades to these areas will also allow passengers to remotely check their bags in before they even set foot in the terminal. Apart from the outdoor construction, storage areas, bathrooms, waiting areas, as well as a concession area called Sunset Cove are all being built inside. Not only will this project improve the current airport, but it has created many jobs for Downtown San Diego residents. At its highest point, the project will employ about one thousand workers.

Downtown San Diego has the last couple of months seen developer sales come to an end and therefore having resale’s take over a big part of the inventory. As of today, 178 Downtown San Diego Condos and Downtown San Diego Lofts are for sale. Even though we are experiencing a super low number of inventory the number of sales has increased since the beginning of the year. The graph above is showing us that 51 homes were sold in January, 68 in February and 85 in March. It is hard to believe that the first quarter of the year is already over.  The average sale price jumped up 23% to $472,696 fueled by 6 properties selling over 1 Million in March.  Cash buyers remain strong, accounting for 48% of the transactions for the month.  Short sales doubled from 11 in February to 22 in March and resale transactions are holding strong at 49%.

Other very informative blogs showing statistics of the Downtown San Diego Real Estate market can be found by clicking Downtown San Diego Condos & Lofts Sold - Cash vs. Financing in February 2012 and Downtown San Diego Condos & Lofts Sold by Type of Sale 2011.

Downtown San Diego is always looking for different ways to become more environmentally friendly. With new construction being done just south of the Broadway Pier in the Marina, steps are being taken to lower emissions of the bay tour operators.

According to the article “Port Bay Tour Operators Installing Shore Power Equipment near Navy Pier” on www.portofsandiego.org, Flagship Cruises & Events, along with Hornblower Cruises and Events, have recently begun installation of shore power equipment that will allow both companies to plug into clean electricity while docked. This new equipment will reduce the overall green house gas emissions from their ships by 50% while aiding in the remodeling process for Downtown that have been outlined in the North Embarcadero Visionary Plan. The new power equipment will allow construction crews to plug into clean energy; installation will be completed by the end of June 2012.

This is just a small step towards turning Downtown into a more environmentally conscious place. This construction, along with the North Embarcadero Visionary Plan, will help to improve the environment of Downtown San Diego.