The recent discovery of Mammoth remains (see the February 4 article from SignonSanDiego.com titled Mammoth skull, tusk unearthed downtown) at the construction site for the new Thomas Jefferson school of law at 16th & Market had Downtown residents buzzing. Perhaps it was on its way to Happy Hour at Basic??

Okay, obviously not, but experts say this creature roamed around what is now Downtown San Diego about 500,000 years ago. This was most likely at a dry period in the area given other findings of shells and marine life. Even more interesting is that experts believe this area was once a savannah environment.

Taken from the February 14, 2009 article by Roger Showley of the Union-Tribune, More Than 25% of Homes in County Worth Less Than Mortgage Balance: A new analysis from MDA DataQuick shows that more than a quarter of all homes in the county are worth less than the owners owe on their mortgages. And nearly two-thirds of those who sold last year settled for less than previous owners had received.

Some key notes to consider:

• Distressed sales were most prevalent in inland areas that have been hit hard by foreclosures. Of 82 ZIP codes analyzed, 55 saw a majority of homes sold at a loss last year.
• La Jolla and Coronado were the only zip codes under 10%, and 92101 was not far behind at 12%
• Downtown continues to perform alongside luxury and exclusive communities in terms of over all value. 
• See our recent Blog, SD ZIP Codes Seemingly Unaffected, where the Median Price of Downtown San Diego Condos went up by 7.4% in 2008.  This was second only to Solana Beach at 11%+. 
• At Seattle-based Zillow.com, a Web site that estimates the values of individual homes, spokeswoman Jill Simmons said site traffic was up 30 percent from December to January and 61 percent year over year. San Diegans’ interest was up 20 percent from December and 79 percent over January 2008 levels. She said the increases are much higher than the normal seasonal fluctuations.
• 92101 Urban Living website has seen similar increases in Web traffic since January 2009.  The website went from about 800 users a day to well over 1200.  That is 36,000 users a month typing in exact keywords like: downtown San Diego condos, downtown san diego lofts, Downtown san diego real estate. 

SignonSanDiego.com printed an informative article regarding how some ZIP codes have managed to avoid the affects of the housing crisis: Some ZIP codes immune to crisis.

“The bottom line, according to DataQuick analyst Andrew LePage, is that the neighborhoods with large price declines were fueled by a preponderance of low-cost foreclosure sales. By contrast, those areas with relatively few foreclosures suffered fewer, if any, price drops.”

Brett Cole, of Solara Lofts, posted this informative blog in regards to Solara’s contribution to “going green”.  

• “Solara Lofts, an award winning community in the Cortez Hill neighborhood of Downtown San Diego, stands alone as the only available new home development categorized as an ‘adaptive reuse building’.”
• “Solara’s sustainable skeletal frame has been reused and incorporated into its new design.” 

With our current economy in a down turn, we think it makes sense to purchase a home that was built with conservation in mind. Solara Lofts allows you to do just that. For more Solara blogs visit: www.solaraloftsnews.com

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I always tell my clients that when you are buying a home that is priced per square foot…it is always better to by a 900 sq/ft home that feels like 1200 sq/ft.  This ICON urban home on the 5^th floor of Building 2 is a perfect example of this.   Wow factor is added to the overall sense of open space.  This is represented with a sweeping corner wall of floor to ceiling windows.  City skyline and J Street corridor East Village views provide a night/evening elegance.  The design of Unit 530 is urban contemporary represented in color, exposed cement accents, and wall of glass.  Floor plan design and layout is also comfortable.  It is easy to envision a peaceful home life, while also considering plenty of room to entertain guests with dinner and cocktail parties.  The “Soho” design package was one of the best that the developer of ICON offered.  Soho is represented with large plank chocolate wood flooring in kitchen, chocolate cabinets, marble flooring in bathrooms, upgraded granite, and stainless appliances.  Upgrades to the Master bedroom closet more than tripled the original storage space.  Storage always goes “hand in hand’ with value in urban home spaces.  A covered and private balcony is perfect for either morning coffee, or evening wine.  Features and upgrades are always so important when considering a home or investment. 

Selling features of unit 530 include:

• Beautiful marble flooring and counter tops w/upgraded shower fixtures in master bathroom
• Original walk-in closet with custom designed doors
• Custom window coverings with a sleek and urban design
• Exposed concrete accents throughout
• Granite countertops in kitchen and baths
• Stainless steel appliances
• Brand new, high-end, modern carpeting
• Custom paint
• Custom pantry and shelving
• Open, entertainment-sized living room
• Modern color scheme
• Hardwood floors in kitchen
• Vry quiet unit secluded at the end of hall
• Wsher and dryer in unit
• Very large parking space for a vehicle of any size
• And a personal, underground storage space

Check out the largest of all the Icon, 1 bedroom floor plans. Experience this corner, NW facing, urban condo with its floor to ceiling windows and views of the East Village. Just push play below.

Of the 13 complexes found in the Cortez Hill neighborhood, Palermo saw the most Resales in 2008 with a total of 14. The next in line is Discovery with 7.

The Mills saw the most REO sales with 12 total; Palermo was not far behind with 10.

As expected due to delivery date, Aria had the most Developer sales, with 58.  Two more new complexes, Aloft and Solara Lofts, had Developer sales of 9 and 8 respectively.

While Foreclosure numbers remained relatively small in Cortez Hill, Palermo saw the most with a total of 6. Discovery was not far behind in Foreclosure sales with a total of 4.

Out of the 5 complexes in the Columbia District, Electra and The Grande at Sante Fe North had the most Resales with 19 and 18 respectively. As you’ll note Sapphire had no Resales as it is currently in the final construction stages and is Developer sales only.

The Grande North and Treo had the most REO sales both with 8 total.

Electra had the most Developer sales, with 193. Sapphire saw 12 total Developer sales in 2008 and expects to see more in ‘09.

Treo saw the most Foreclosure sales with a modest number of 5, while the Grande North saw 1 and the Grande South saw 2.

Unit 1615 is the highest loft in this stack, and highest floor plan of its’ kind before the Penthouse levels.  On floor 16, this urban loft is part of the complex “Skyview” Series.  The upgrades and “wow” factor of Loft 1615 are the primary reasons it was used as the Sales Office model home.  The open loft floor plan, floor to ceilings windows, and expansive views from the San Diego Mountains to the east, Coronado Bridge and Bay to the South, and the high-rises of the Core District to the West all combine to create a powerful first impression. 

The “built out” two bedrooms of 1615 allow for walk in closets, adding valuable storage space that adds function to every urban loft. Ceiling soffits allow for recessed lighting, hide window coverings, soften the industrial feeling of exposed cement ceilings and sprinkler/A/C components, and create a more elegant and upscale urban living experience.    The upgrades not only add enhanced value, they complete the professional and modern luxury design.  Upgrades include: teak wood flooring, custom view friendly window coverings, modern “Shag” carpeting in both built out bedrooms, built out closet space, and ceiling fans/custom lighting fixtures.  The entertaining central kitchen is equipped with: GE Stainless appliances, granite countertops and backsplash, modern wood cabinetry, and upgraded water filtration system. 

Before Smart Corner was built, there was no other complex in Downtown San Diego that could represent the East, South, and West views that could look back on the bay, Mexico, Coronado Bridge, and City skyline.  As soon as you enter a Smart Corner loft floor plan in this “Skyview Series stack”, it is not hard to figure out why these urban lofts represent the signature “look” and “design” of a Downtown San Diego loft with a view.  This open loft floor plan of 1,422 square feet, the floor to ceilings windows, and expansive views from the San Diego Mountains to the east, Coronado Bridge and Bay to the South, and the high-rises of the Core District to the West all combine to create a powerful and luxury urban living experience.   

• Elegant and modern professional Design
• Contemporary floor plan
• Stunning Southwest Downtown Views from this 16th floor Loft space in Smart Corner
• As part of the “Skyloft Series” this unit offers a 220 degree Downtown San Diego view orientation to the East, South, and West\
• Large square footage, professional modern design, and floor to ceiling windows combine to generate the “WOW” experience of this urban home
• 2 Built out” bedrooms create a combo 2/2 Bed Bath loft combination
• Built out” Walk in closets provide much needed storage space in urban loft living 
• Custom Roman “View Friendly” Window coverings
• Ceiling Soffits are “built out” to hide cement ceilings and ceiling sprinkelr componets creating a more upscale and elegant design experience
• Upgraded Teak Wood Flooring
• Signature “Triangular” covered outside balcony space
• Added Ceiling Fans and Upgraded lighting fixtures
• Water filtration system in Kitchen
• Modern “Shag” carpet in bedrooms
• Granite Counter Tops and Backsplash
• Stainless GE Kitchen Appliances
• Upgraded “Stacked” Washer and Dryer
• 2 Deeded Parking Spaces