In this December 4th Voice of San Diego online article titled Vantage Pointe’s Clock is Ticking, we learn about the harsh realities of the current state of this 679-unit question mark. Why do we refer to it as a ‘question mark’? Well, probably because so many question remain to be answered… “What is the future of the project?”…”Will the May 2009 move-in date stick?”…”What’s the future of the HOA due to the vacant units?”…”Are we going to be able to get financing — do we even want to be financed?”
We feel for those who have committed to purchase a home in the Alberta-based developer Pointe of View’s project. We know first-hand about the nervousness that resounds when the words Vantage Pointe are uttered. Alas, if the developers fail to finish the largest residential complex ever to be built in San Diego, some buyers could walk away from their contracts with a refunded deposit. However, construction teams have been working some major overtime to compensate for the delays.
Now, while some say “Vantage Pointe is an emblem of the major stress and uncertainty in the region and its housing market,” you may be curious as to why we, as home sellers, would choose to post such a blog. Good question! The answer is: We’re not in denial. We know the current state of the market, and that includes the lows and the highs… yes, the highs. We’re realistic in our approach to the opportunities that present themselves to us in this not-so-pleasurable market. And we encourage you to be as well. Afterall, real estate sales have not stopped, buyers continue to buy and sellers continue to sell. It’s just a matter of following the mantra we’ve set in our office: Be smart and get creative! Make this down time work for you. One thing we love about this article is the optimism of the developer and the sales team. “We’re expecting a surge of sales and definite shift of attitude next year,” states Donna Lutz, sales manager for Vantage Pointe.
Bottom line, it’s all in how you approach it. If you expect a negative transaction in purchasing a Downtown Condo or Loft, well, chances are that’s probably what you’ll get. But, if you’re like us, and you expect things to go smoothly as you transition into your new home, then that, my friend, is what you’ll get. Best wishes.