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Condos, Lofts and Penthouses for Sale

Downtown San Diego Real Estate News

The following section of the website is devoted to news articles that have information or an impact on the Downtown San Diego Real Estate Market. I always tell clients to not “take my word for it”. I encourage clients to do their own research and form their own opinions. These are the same resources that I refer to, in order to collect my opinions and facts on the state of the Downtown Market and lifestyle. In this section, it is our opinion that the articles we include do not only present one side of the story. We include EVERY interesting article that we find not only the ones that shed a positive outlook on the state of the Downtown Market. For your organizational convenience, we have separated the articles into three sections: Downtown, San Diego County, and National Real Estate/Urban Living General. Many of these articles are used in our blogs and monthly newsletters to stimulate thought and debate.

Please feel free contacting us should you have any questions, comments, or opinions on any of the follow articles. We have done everything possible to make this an interactive site for Buyers and Sellers of Downtown Real Estate. To that commitment, please let me know if you have come across an article (published or personal) that you feel needs to be included on the website. If Downtown is, or is going to be your home, then let us share your information with the Downtown San Diego Urban Community!

2012-12-14 Mortgage Rates Almost Back to Record Low

The Los Angeles Times and the article "Mortgage rates dip slightly, back to near record, Freddie Mac says" reports that the 30-year fixed mortgage rate went down to 3.32 percent this week getting closer to the record low number. The 3.32 percent is down from lasts weeks number of 3.34 percent.

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2012-12-13 San Diego Median Home Prices Are Going Up

The San Diego Business Journal and the recent article "Cash Buyers Snap Up a Third of Homes in November" reports that the San Diego median home prices went up with 14 percent compared to the month before.

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2012-12-12 HUD Is Trying to Help Distressed Borrowers

To be able to help some distressed borrowers from potentially saving their homes, the U.S. Department of Housing and Urban Development has started to sell thousands of delinquent mortgages that are insured by the Federal Housing Administration. There is a major concern that is raising questions about fairness as this leaves thousands of distressed FHA borrowers without any help. Read the InmanNews article HUD stepping up sales of seriously delinquent FHA loans for more information.

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2012-12-11 Downtown San Diego Quiet Zone Now In Effect

The very longed for Downtown San Diego Quiet Zone is finally in effect as of November 24th, 2012. The train horn used to be of concern to Downtown San Diego Condo home owners living close to the tracks but they are now pleased with the outcome of no train horns. You will still hear the trolley, train and crossing noise but this is nothing compared to the train horns. For more information click the link below to visit the Quiet Zone website.

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2012-12-10 No More Foreclosures Until After The Holidays

Realtor Magazine and the article "More Banks Halt Foreclosures for the Holidays" reports that most bank will stop the foreclosure until after the holidays. The reason is to try to help families who are experienceing hardship some stability during the holiday.

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2012-12-08 HARP is Starting to Decrease Among Big Lenders

Housingwire and the article "HARP refinancing narrows among big lenders" reports that the availability of mortgages that qualify for HARP (Home Affordable Refinance Program) are starting to decrease among the lenders such as JPMorgan Chase, Bank of America, Citigroup and Wells Fargo.

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2012-12-07 Short Sales Increased with 15% in Third Quarter of 2012

Foreclosures have been something that many home owners have been choosing over short sales. The third quarter of 2012 is now showing a reverse trend where pre foreclosures have been outnumbering the sales of bank owned homes. The third quarter shows that 22 percent of all sales go to pre foreclosures. 41 percent goes to all distressed sales. Compared to last quarter, short sales have increased with 15 percent for the third quarter of 2012. Read Realtor Magazine and their recent article Short Sales Make Up Bigger Share of Market for more information by clicking the link below.

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2012-12-06 Tax Break for Short Sales Expires at The End of the Year

Realtor Magazine and their recent article "Short Sales Surge Before Potential Tax Hike" reports that many real estate professionals are doing everything in their power to close their short sale deals as the new year will expire the tax break that would have borrowers pay for any uppaid mortgage debt.

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2012-12-05 The Housing Market Might Recover Very Slow

Many Downtown San Diego real estate professionals as well as current and future home owners are according to Realtor Magazine and the article Is the Housing Recovery at Risk? concerned that that housing market will have a slow recovery. According to the analytics firm Fiserv and their recent study, about two-thirds of the U.S. housing market will see home prices go down until June 2013. Read the article for more information by clicking the link below.

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2012-12-04 Foreclosure Sales Are Still Going Down

The Los Angeles Times and their recent article "Foreclosures down in October as housing market continues healing" reports that October numbers show that about 1.3 million homes around the country that were in any stage of the foreclosure process went down from 1.4 milion homes in September.

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2012-12-02 Downtown San Diego Convention Center Expansion Is Moving Forward

The Downtown San Diego Convention Expansion has been on the plans for some time now and the City Council has approved a $54.4 million interim bond as financing for the project. This money will provide financing for site acquisition, utility relocation and construction drawings. But before the bonds can be issued, the California Coastal Commission will have to approve the project and have the court confirm legality. It might not be able to get the approval until March 2013. The project would also include extending the convention center closet to the waterfront as well as a roof top park. For more information visit The San Diego Union Tribune and the article Convention Center funding plan Okd.

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2012-11-30 Horton Plaza Has Started Project for New Additional Plaza

Horton Plaza down in the Gaslamp Quarter of Downtown San Diego has started the demolition of the north located building of the shopping center. The plans are to build a new additional plaza on these grounds that would also include the restoration of the exciting historic fountain and Horton Plaza, a project calculated to cost $14.7 million. For more information read The San Diego Business Journal and their recent article Work Begins on Horton Plaza's Latest Revival.

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2012-11-29 Pending Homes For Sale is Increasing

According to the National Association of Realtors, pending homes for sale has been increasing as Octobers number is showing us an increase of 5.2 percent since September. For more information visit the article Pending Home Sales Rise in October posted by Realtor Magazine.

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2012-11-27 FHA – No Need of Federal Assistance to Stay Afloat

Both Fannie Mae and Freddie Mac has required federal financial assistance to be able to stay in business but for the FHA (Federal Housing Administration) a different approach is in place to be able to stay afloat. They are trying to change program rules to cut back on losses and gain revenue. To read more visit the Los Angeles Times article FHA is tweaking programs to improve revenue and cut losses by clicking the link below.

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2012-11-26 Coronado Bridge Moves Forward with Lighting Project

The Port of San Diego has approved the lighting project for the Coronado Bridge that has been on the books for some time now. The project is to cost about 8 million and to be completed by 2015. Click the following link to access more information.

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2012-11-22 California Cities Some of The Most Fast Selling Markets

Realtor Magazine and the aricle "8 Markets Where Homes Are Selling the Fastest" reports that the October stats shows that California has the most number of housing markets that are seeing some of the lowest median age of inventory.

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2012-11-21 North Embarcadero Project Public Meeting

The San Diego Business Journal and their recent article "Gathering to Focus on North Embarcadero Project Phase I" informs us about a public meeting held Nov 28th where constructions updates and other information will be talked about.

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2012-11-20 Existing Home Sales Increased

CNN Money and their recent article "Home sales climb 2 percent in October" reports that existing home sales around the country rose to 4.79 million for the year. This is an increase of 2.1 percent compared to last month of September.

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2012-11-17 FHA Might Need Funding From the U.S. Treasury

The Los Angeles Times and the article, "FHA projected to exhaust reserves, could need bailout", reports that the FHA might need funding from the U.S. Treasury to be able to stay afloat. All up till now, the FHA have been self-funding but with Septembers number showing a 16.3 Billion in projected losses, the agency will most likely need help.

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2012-11-16 Mortgage Rates Down to New Record Low

Realtor Magazine and their article "Mortgage Rates Fall into Record-Breaking Territory" reports that Freddie Mac has provided us with new number concerning the fixed rate mortgage rates where it dropped to new record low this week. The previous record low for the 30 year fixed was 3.36 percent and this one is now down to 3.34 percent. The 15 year fixed was down to 2.66 percent but is now down to 2.55 percent.

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