The number of Downtown San Diego Condos and Downtown San Diego Lofts sold in April of 2012 is showing the most amount of homes sold in 2012. We started out the year with 51 homes sold in January and we are from there experiencing an increase of homes sold from month to month. There were 105 sales in April which is up from 85 sales from March. This is the first time we had over 100 sales since August of 2011. However, our average sale price dropped slightly from last month from $472,696 to $465,479. We believe part of this is from the 21 units closing in April at Smart Corner and most of them are under $200,000. The resale market is strong accounting for over 50% of the sales for April and cash buyers remain high at 47%.
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Home #406 is a street facing Downtown San Diego Condo in Palermo with views over Front Street. This home has 781 square feet of living space, 1 bedroom, 1 bathroom and 1 parking space included in the rent. This 4th floor home has carpet in the bedroom and living room, tile flooring in the kitchen and bathroom, a walk in closet, an open floor plan and a spacious kitchen. There is a stackable washer/dryer located as soon as you enter the unit. The bedroom has a good size walk in closet and there is also a storage closet in the entry/living room area(next to washer/dryer). See photo slide show link further down the page.
$1,699/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!
Palermo, built in 2004, is located in the Little Italy neighborhood on the corner of W Beech and Front Street and this is one of the best features of the complex. You are only a short walk away from the India Street (the heart of Little Italy), freeway access, the waterfront and the Gaslamp. You are also a short stroll away from Balboa Park. Right around 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 [email protected] or call 619-992-5144.
In today’s Downtown San Diego Real Estate market, it is critical to know the best ways to sell your Downtown San Diego Condo or Downtown San Diego Loft. There are essential steps of getting prepared to sell your home.
The first step to success is to make sure that your home is clean and organized. If there is a lot of clutter sitting around, a potential buyer may think there is less space in the home than there really is. By keeping the interior organized, the home gives the impression that it is spacious and welcoming.
The second step is to have everything in good working condition. This is important as you will have an advantage over distressed properties where most homes might not be up to date. Downtown Real Estate that passes a professional home inspection is typically easier to finance, and buyers tend to lean towards these properties because they don’t want to deal with hidden delays and costs.
The third step is to find a knowledgeable real estate professional. A knowledgeable agent will be able to market and price your property to its highest potential.
The fourth step is to find prequalified buyers. Imagine if you are in escrow with someone and they find out they are not able to qualify for the loan. Not only would you lose precious time, but potentially money as well. With a prequalified buyer you will at least know that the potential buyer sat down with a loan officer, and they know roughly how much they can afford.
The last and final key is to know the distressed properties in the area. Not only will it allow you to price your property more accurate, but it will also give you leverage when negotiating a final price.
While the Downtown Real Estate market is slowly recovering, it is still very likely to sell your home in the current real estate market conditions. If you abide by these suggestions, it will ensure that you as a seller will be able to move as quickly as the buyer to finalize the transaction for a Downtown San Diego Property.
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This Urban West Facing 1 story City Home is an Upgraded Park Blvd East Condo located in the East Village/Ballpark neighborhood. The floor plan is spacious with a balcony facing towards Park Blvd Avenue. Features include: Wood Floors, Recessed Lighting, Stackable Washer & Dryer, Stainless and Granite Kitchen, Ceiling Fans and an Organized Walk-in Closet.
$1,799/month with a security deposit equal to one months rent, 1 parking space included, available now, minimum of a 12 month lease tern, unfurnished, pets allowed with restrictions and pet deposit! TV to be installed!
You will enter this home via the front lobby on Park Blvd Avenue or through the garage which you enter from Island Avenue. This home has a good size granite kitchen with lots of cabinets and stainless steel appliances. There is a small hallway closet and a stackable washer and dryer located in between the bathroom and bedroom. The bathroom has a combined shower and tub, granite counter tops and is good size. The bedroom is facing Park Blvd Avenue as well and has a good size organized walk in closet. The living room has been upgraded with a ceiling fan, wood floors and has access out to the west facing balcony. One parking space located on P1 with easy access out to the street is included in the rent.
One of the best features of Park Blvd East is location. The building encompasses the corners of Island and Park Blvd Avenue’s in the East Village/Ballpark District. It has easy access to the trolley and just around the corner from Petco Park, Jefferson Law School and the new Downtown San Diego Library that is currently being built. A short stroll away is the vibrant Gaslamp neighborhood with exciting and new restaurants that are surrounded with countless options for a relaxing afternoon or evening. You will find a landscaped inner courtyard with a spa, deck area, waterfall and fountains, underground parking, bicycle storage, and a gated and secure building.
For more information call/text Sofia at 619-992-5144 or e-mail [email protected]
As a Downtown San Diego Real Estate investor, you should be aware that there might be units on the market where the seller is offering incentives to real estate professionals. While these incentives are supposed to be used to increase the amount of attention given to a particular unit, it may also lead the real estate professional to do something for themselves instead of their client.
In the article “Make Sure Selling Incentives Don’t Break the Rules,” the Daily Real Estate News outline some guidelines regarding incentives. The original idea behind incentives was to offer some kind of reward to real estate professional when it comes to selling a specific home. The rewards range from cars to paid vacations and higher commissions. While this may be good for real estate agents, it could potentially have the agent push you in a certain direction for their own benefit. As a client, it is important to know that your needs always come before anything else. Within real estate, we have a code of ethics that state we cannot take part in what is called self-dealing. If you find that your agent is uncomfortable with these incentives, ask them to negotiate a lower sales price for the amount being offered.
As within any real estate market, if the Downtown San Diego Condo is priced correctly, it will sell. At an accurate price, there will be plenty of buzz for your Downtown San Diego Property and many buyers will be interested in your home. The subsequent competition will only increase the value of your home anyway. It is extremely important to be aware of whether or not your agent is being given an incentive. If the real esate agent is being offered something extra…this is something that would need to be disclosed to the client immediately.
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#2602 is a furnished home with high end furniture as it used to be the former model in the luxury complex The Mark. Located right in the middle of the East Village/Ballpark neighborhood the unit has north, west and east facing panoramic views of Downtown San Diego, the San Diego Bay, Balboa Park, mountains and planes approaching in the distance. The floor plan is spacious with lots of upgrades such as hardwood floors and light fixtures. The granite gourmet kitchen with stainless steel appliances opens up towards the living room and the good size balcony. The highlights of this home is the walk in closet in the master bedroom, high ceilings, walk through bathroom, and views of the Downtown skyline as well as peek water views. See photo slide show link at the bottom of the page for additional photos.
Rent is $3,000/month. Security Deposit equal to one month’s rent. 1 parking spot is included in the rent. No pets! 12 month lease! Available June 1st, 2012.
The Mark: one of the high rise luxury towers in the East Village. This building was developed by Douglas Wilson and completed in 2007. There are brick town homes that frames an urban central park, and rising above, a 32-story glass tower. The Mark in the East Village is architecturally engaging and sophisticated, with European cabinets, granite counter tops, ceramic entries and top-floor penthouses. Most residences at The Mark feature incredible views across Downtown, the San Diego Bay and Petco Park. You will also find floor to ceiling windows to create a vast field of view. The pool amenity area features a lap style pool with contemporary cabanas and community areas. With a short stroll to the Gaslamp District with its many restaurants, shopping and night life as well as everything else Downtown San Diego has to offer makes The Mark complex the perfect location.
For more information call Sofia at 619-992-5144 or e-mail [email protected]
One of the reasons for the average price making a big jump going from February to March 2012 is that two Downtown San Diego Penthouses over the Million Dollar price range sold during the month of March. The line you see in the graph above is keeping itself pretty steady throughout the year with just minor bumps here and there. We do see a slight increase in the average price and it will be interesting to follow the Downtown San Diego Real Estate market to see what changes are coming in the next couple of months. Stay tuned for more information!
To compare other 92101 Urban Living’s blogs about the market click on Resale’s of Downtown San Diego Condos Are Getting Strong and Cash Buyers of Downtown San Diego Real Estate Has Increased.
The 4th annual Rhythm & Wine event is coming up on June 10th, 2012 and will be held at the new Broadway Pier right by the waterfront in the Columbia neighborhood of Downtown San Diego. This is a music, food and wine festival where the crowd can experience the best of what these three worlds have to offer. All proceeds will benefit the Boys and Girls Clubs in San Diego and it will be a fun night under the stars with sampling food, sipping wine and music. Ticket price includes all tastes and samples so no additional fees are needed for tasting. You will have to be over the age of 21 to enter and you can find more information about tickets, music, wine and restaurants at www.rhythmandvine.org.
The first quarter of 2012 is showing us that 106 units out of a total of 204 Downtown San Diego Condos and Downtown San Diego Lofts sold are resale’s. This takes up more than half of the inventory for January, February and March. Compared to the first quarter of last year, a total of 256 units were sold and resale’s stood for 80 of them. This is a huge increase in resale’s and one of the reasons for the big jump is that we do not have many Developer sales left to play with. There are a couple of Developer sales left in Bayside, Sapphire, Breeza, Solara Loft and Smart Corner. An interesting fact is that in the first quarter of 2011, Bayside sold 18 units and in 2012, Smart Corner sold 16 units in the first quarter.
To read and compare former 92101 Urban Living’s blogs about the Downtown San Diego Real Estate market click on the following links Cash Buyers of Downtown San Diego Real Estate Has Increased and Average Sale Price of Downtown San Diego Condos are Up for March 2012.
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.