Category Archives: May 2008

Fannie, Freddie scrap declining-market label

downtown-san-diego-real-estate/fannie-freddie-scrap-declining-market-label/180/ All properties in 92101, previously considered as being geographically located in a declining market since last December by Fannie Mae [1] and Freddie Mac [2], will no longer be stymied with this stigma. What does this mean for you? If you happen to be shopping for a downtown condo, your lender will no longer… Read More

Builders looking to infill

downtown-san-diego-real-estate-market-analysis/builders-looking-to-infill/175/ So with the state of the market comes the downsizing of a lot of developers. Within this comes the fact that a lot of the developers that were here in the past aren’t going to come back when the market corrects again. Today’s paper has an article regarding this. It speaks of how urban… Read More

Housing Crisis Over??

downtown-san-diego-real-estate/housing-crisis-over/177/ The Title of the Wall Street Journal Article is The Housing Crisis is Over. Could this actually be? A well respected national publication is suggesting that there is actually something positive on the horizon for Home Sales in the United States. Well, things are not that easy. I am positive that this topic will… Read More

Attention Entreprenuers

downtown-san-diego-urban-lifestyle/attention-entreprenuers/170/ I have lived down for a while now, and worked down here even longer. Today was the very first day that i realized something. There isn’t a single place to get a good breakfast burrito in the East Villages Ballpark area. If you have the notion to open a place to eat down here-… Read More

How many languages should this be written in?

downtown-san-diego-real-estate/how-many-languages-should-this-be-written-in/143/ I appreciate people saying to me that they are waiting for the market to bottom out. I understand that. But here is something to contemplate. There will be nothing new delivered between now and 2012. It is going to cost $200 per square foot more to build than it did when all this was… Read More

The Future of the Downtown condominium Market

downtown-san-diego-real-estate/the-future-of-the-downtown-condominium-market/166/ We know no other condominium projects that will break ground in the next year. As high-rise projects require two years to complete, we do not anticipate the completion of any new high-rise projects until atleast 2011 or possibly 2012. There are two factors that impact the future supply of condominiums downtown: First is the… Read More

Inventory Of New condominium Units for Sale: 2008-2001

downtown-san-diego-real-estate/inventory-of-new-condominium-units-for-sale-2008-2001/163/ As noted above, there are only four condominium projects under construction downtown: Vantage Pointe in the East Village and Bayside, Breeza and Sapphire at the Embarcedero. Those projects will be completed in 2009. After that there will be no delivery of new units, recently completed or conversion projects.

Inventory of New Units

downtown-san-diego-real-estate/inventory-of-new-units/156/ Currently, if you were to look at the toatl availability of unsold unit downtown that are in buildings that are either completed or under construction, the total would be 1,696 units. Of that total, 694, or 40% are units in the buildings that are under construction and won’t be delivered untill 2009. Another 176… Read More

New condominium Sales

downtown-san-diego-real-estate/new-condominium-sales/154/ The downtown new condominium market was highly active in the 2002 through 2006 period when there were several dozen projects offered for sale. In 2007, with most of those projects complete, sales slowed dramatically. To date this year, 62 condominium units have been sold in newly completed buildings and buildings under construction. Part of… Read More

Foreclosure Activity

downtown-san-diego-real-estate/foreclosure-activity/152/ Dataquick has released its first quarter 2008 figures for downtown SanDiego. In that period, there were 121 sales, 36 of which, or 29.8%, were foreclosure sales. The foreclosures represent 4/10th of one percent of the downtown inventory. Most of the foreclosures were in the lesser-priced projects, averging $385,000. The foreclosure sales were generally in… Read More