Don’t miss out on the upcoming Rock ‘n’ Roll Marathon & 1/2 in Downtown San Diego on June 6th, 2010. 

For the past 12 years, the annual Rock ‘n’ Roll marathon in San Diego has been one of the signature events of The Leukemia & Lymphoma Society’s (LLS) Team In Training (TNT) charity sports training program. Beginning with the race’s 13th year, LLS will become the exclusive charity of the renamed Rock ‘n’ Roll San Diego Marathon & ½ to Benefit The Leukemia & Lymphoma Society.

The Competitor Group, Inc., (CGI), the race’s organizer, has also added a half marathon to the event, which is famous for its live bands, cheerleaders and block party atmosphere. The Rock ‘n’ Roll San Diego Marathon & 1/2 Marathon is a “walker friendly” event, provided all participants complete the marathon within the 7-hour course time limit or half marathon within the 4-hour course time limit.

To read more about the event click on San Diego Marathon.
 

Cash vs. Financing, 1st Quarter 2010
                                                                                
The total amount of Downtown San Diego Condos and Lofts sold in the 1st quarter of 2010 was 260 units. Condos and Lofts that were financed totaled 179 deals or 69% percent of the total.  With low interest rates, buyers have an incentive to finance their home investments while “money is Cheap” to borrow. 

98% of the loans were either Conforming (under $495k) or Jumbo Conforming (Under $695k).  Only 2 Jumbo loans in 179 were above the $695 limit.  This means that the luxury purchases in Downtown San Diego were obtained with significant down payments and cash injections. 

With this said…the more impressive and surprising statistic was that 31% of the total sales were all cash transactions.  Buyers are not afraid to invest significant amounts of cash into their Downtown market investments.  This could represent a strong investor perception of the stability and value of Downtown San Diego Real Estate as the market continues to show marked improvements.  

To read our blog on SDNN click on Cash vs. Financing, First Quarter 2010 and to read our former blogs click on Downtown San Diego Condos & Lofts Sold by Neighborhood in the 1st Quarter of 2010, Downtown San Diego 1st Quarter Condo and Loft Sales, Developer Sales to Decrease and Resales to Increase in Downtown San Diego and Are there any Identifiable Trends in Real Estate Sales for Downtown San Diego Real Estate?

                                                                                                          
The East Village/Ballpark District had the best start to 2010, with the most sales in Downtown San Diego. The main reason for this home run performance was 41 developer sales at complexes such as The Mark, Park Terrace, and The Legend. This neighborhood took an early lead to stand out from the rest of Downtown San Diego.

Downtown San Diego Condos and Lofts at Sapphire and Bayside enabled the Columbia District to follow the East Village/Ballpark District with a total amount of 34 developer sales. In the Marina District, 20 re-sales was the highlight, mainly due to the lack of available developer sales.

To check out this blog at SDNN click on Downtown San Diego Condos & Lofts Sold by Neighborhood, First Quarter of 2010 and to read our former blogs click on Downtown San Diego 1st Quarter Condo and Loft Sales, Developer Sales to Decrease and Resales to Increase in Downtown San Diego and Are there any Identifiable Trends in Real Estate Sales for Downtown San Diego Real Estate?

15 Steps in the Transaction Process that a Buyer needs to be Aware of.

Do you want to buy a new home in Downtown San Diego? Do you have questions and feel a little uncertain about how to start the process? Don’t know what neighborhood you would enjoy the most? Maybe, the Little Italy District (An intimate local feel with access to “Big Downtown”) with an Italian/European inspired atmosphere, or the vibrant Gaslamp District with a variety of restaurants, bars, and shopping? The complexes provide an even greater challenge: Would you enjoy a high-rise such as The Grande at Santa Fe in the Columbia District, or the midrise Loft complex M2i in the East Village/Ballpark District? Are you concerned with how you will afford your new home?

The task seems daunting, but 92101 Urban Living is here to help with a step-by-step guide that will making purchasing your dream home in Downtown San Diego a reality.

1. Organize and Understand Your Finances - Get organized…understand where you are financially.  Most will argue that your monthly payments are the “real” price of the home.
2. Familiarize yourself with the Mortgage Industry - Finding a proper loan product and lender is of the utmost importance to your home-buying success.  A lender that specializes in Downtown San Diego High-rise condo lending is preferable. 
3. Getting Pre-Approved for a Mortgage - What kind of property do you want to buy and how much can afford to pay in monthly installments?
4. Determine What You Want, Need, and Must Have - Buying a home does not have to be as difficult as you may think.  No matter what your budget…everyone has to prioritize their personal criteria.
5. Find the Right Real Estate Broker or Realtor- Narrow the field. If you are interested in a certain area of your city, find out who are the real estate experts that specialize in that area.  Do some “in person” interviews, and determine who knows their stuff.  More importantly…who you connect with personally.  After all…you will spend considerable time together during a home search and transaction.
6. Begin the Search for Your Downtown Home - Your broker will go over all listings that meet your needs.  It is so important to experience all of the options in person.
7. Considerations, Pre-Offer Issues - Deciding whether or not you want to buy a particular home involve an evaluation of its structure, features and more.  Make sure that a proper value analysis supports the urban home that meets all your preferences. 
8. Make an Offer - When you find the home you want, your agent will write a purchase contract commonly known as “an offer”.
9. Putting Down Earnest Money - When you make your initial offer, you should also include an earnest money check to secure the deal in escrow.  This money is refundable during the “Due Diligence” time period negotiated in the offer. 
10. Counter Offers - The first offer you make, most likely, will not be accepted “as is” (especially a low offer), and the seller will submit a counter offer.
11. Home Inspections and Other Tests - Home Inspections are generally completed within 17 days of the acceptance in a normal purchase contract. 
12. Final Contract - As soon as the seller agrees to the final contract, you should immediately follow through on obtaining your purchase funding.
13. Home Appraisal by Your Lender - The lender arranges to have the home appraised, which can affect whether a loan is granted.
14. Avoid Last Minute Problems - As you are nearing close of escrow, it is important your broker is overseeing everyone involved in your real estate transaction, and making sure everyone is working together for a successful close of escrow.
15. Closing and Taking Possession of Your Home - You are on your way to closing, the event that transfers ownership of the property to you.  This is the best call and meeting that you will have with your Broker.  You are now a resident and proud owner of a Downtown San Diego Condo. 

Take advantage of Buyer Real Estate representation.  Your broker will be free to you, as the buyers representation is compensated by the seller.  99% of all Downtown San Diego Condo and Loft sales are closed with the aid of a Real Estate Broker.  Do your research….make sure that the Broker you choose is qualified to deliver the service and information you both need and deserve. 

Check out this blog at SDNN, click on Take Advantage of Good Buyer Real Estate Representation when Buying in Downtown San Diego.

Downtown San Diego Condos and Lofts Sold by Type of Sale: Resale, New Home/Developer, Bank Owned, and Short Sale
                                                                                          
Two hundred-sixty Downtown San Diego Condos and Downtown San Diego Lofts were sold in the 1st quarter of 2010 – considering market trends and analytics…that’s a pretty good number. Developer sales led the way with 107 units sold, followed by 54 re-sales, 52 Bank Owned, and 47 short sales.

This will probably be the last quarter we see developer sales in this high of a range, as there are only so many units left in the remaining New Complexes: Sapphire, Bayside, Park Terrace, and The Mark. It will be interesting to see what happens with the second quarter graph…stay tuned.

Check out this blog at SDNN’s website at Downtown San Diego First Quarter Condo and Loft Sales and to read our former blogs click on Developer Sales to Decrease and Resales to Increase in Downtown San Diego and Are there any Identifiable Trends in Real Estate Sales for Downtown San Diego Real Estate?

Bayside by Bosa invites you to meet leading San Diego Art Dealer Alex Salazar for a fascinating Art Preview event on Wednesday May 26th, 2010 between 6pm to 8pm.

Alex Salazar, art historian, collector and broker, shares his love and knowledge of fine art and the secret to building a personally fulfilling collection. Enjoy scrumptious hors d’oeuvres and wine while appreciating art and the spectacular bay and city views Bayside’s penthouse.

Bayside is Downtown San Diego’s finest waterside community along the Embarcadero right next to the Little Italy District. Bayside homes have the greatest quality, panoramic views, spacious layouts, the best amenities and an Urban Downtown San Diego lifestyle.

Bayside is located at 1325 Pacific Highway in the Columbia District in Downtown San Diego and the event is taking place in Penthouse #3302. Valet parking is prived and they kindley request your RSVP by May 23rd at 619-239-2339 or Bayside@bosadev.com.

To read 92101 Urban Living’s former blogs about Bayside, click on “Bayside” at The Embarcadero in Downtown San Diego - A Waterside Community, “Bayside” in Downtown San Diego is Now Fannie Mae Approved, Demands are High at “Bayside” at The Embarcadero in Downtown San Diego and Special Value at Bayside in The Columbia District in Downtown San Diego.

Come on down and explore, enjoy and mingle for the 17th Sicilian Festival that is welcoming thousands of Sicily’s natives and fans for this colorful event on Saturday May 23rd from 10am to 6pm. The streets of the Little Italy District in Downtown San Diego will be filled with Downtown San Diego Condo home owners in Aqua Vista, Palermo and La Vita, Downtown San Diego Loft home owners in Doma and Village Walk, residents and visitors.

Check out the entertainment for this year - The Puma Soccer Fan Zone, the Roman Holiday Ensemble, the Screamin Primas, face painting, street painting, an inflatable slide, a puppet show and the Sicilian Flag procession parade. Just stroll around and take advantage of what this urban neighborhood has to offer and get lost in the tastes, the feelings and the impression of this Italian community.

To read more about this event click on www.sicilianfesta.com.

How many times a day, a week, a month do we as Downtown San Diego Condo and Downtown San Diego Loft home owners take the elevator as our main transportation to and from our homes in high-rises, mid-rises and even low-rises in Downtown San Diego? I suppose…a lot!! Even sometimes when we only have to go only one floor…the elevator is what comes to mind. So, are we supposed to talk to each other, remain silent, pull a practical joke…or just politely say “Good morning, “have a great day” and leave it at that? We are all different; for some it is just a quick ride, but for others, awkwardness reigns supreme in the elevator.

Are there rules on how to behave in the elevator? After researching the internet and speaking from personal experiences, there appears to exist some common sense rules we think all people should know: Who goes in first? Who presses the buttons? Do you press the CLOSE button if for some reason the doors are taking a long time to shut? There can be so many questions…

We are living in an urban environment where people are on top of each other and side by side. If we are comfortable in these compacted surroundings, then why does the metal box that allows no cell phone reception and only serves to take us up and down cause such anxiety? Did you ever think that maybe the elevator allows no reception specifically to promote neighborly interactions?
Don’t we realize that we could be missing out on meeting our future: attorney, tax preparer, surf instructor, hook- up to the hottest club in town, neighbor or person who may have mutual interests?

Let’s face it, there are many opportunities coming and going in the amount of time we do spend each day in an elevator - reach out and take advantage of the city we live in and the resources it provides. Start saying hi to your neighbors; who knows, a whole different world may open itself to you.

Check out this blog on SDNN’s website, click on The Elevator….Rules?

The East Village Association is a collection of residents including Downtown San Diego Condo and Downtown San Diego Loft homeowners in the East Village District who share a common interest in the positive development of this budding neighborhood. It’s open to renters, home owners, business owners and for anyone who care to see and contribute to the growth of this area of Downtown San Diego. This group needs participation not only in its meetings but in its community projects as well.

Be a part of the East Village District’s transformation to become San Diego’s most vibrant urban community. Attend the East Village Association’s annual meeting and vote in the election of the Board of Directors at the Hotel Indigo on Wednesday May 19th, 2010 at 5pm.

For more info e-mail; info@eastvillagesandiego.com or call 858.270.7268.

Downtown San Diego Condo and Downtown San Diego Loft home owners in Doma, La Vita, Palermo and Portico, residents and visitors don’t miss out on the annual Taste of Little Italy in Downtown San Diego on May 26th from 5pm - 9pm.

The Little Italy Association is proud to bring you a Taste of Italy where you can enjoy a stunning variety of dishes as you stroll and dine in the Little Italy District, as well as delightful entertainment by Tom Lanford and Manny Cepeda. Buy your tickets today. Click here.

To read more about the event visit www.tasteoflittleitalysd.com and to read 92101 Urban Living’s former blog click on Taste of Little Italy in Downtown San Diego.