Your chance to live at ICON in East Village!

NO LONGER AVAILABLE. Stainless steel appliances, granite counter tops, large bathroom, Brand new laminate wood flooring and new carpet, private balcony, and in unit laundry. This is your chance to live in one of the most sought after buildings in downtown. Steps away from Petco park with incredible rooftop views (like having your own season tickets), 4 blocks from Gaslamp, 24 hour security, a full size gym / fitness area in the complex, recreation room, theater (located in the building), plus so much more. Includes your own parking space. Located on 5th floor. Your chance to live in ICON in East Village.

Interested in scheduling a private tour? Please complete the form below.

Real Estate Market Report for Downtown San Diego Condos Published June 2013

 

The Downtown San Diego real estate market for condos for May 2013 continued to charge ahead with no immediate slow down in sight.   We are seeing an ever so slight uptick in condo listing inventory for sale but no were near what it will take to satiate current Downtown San Diego condo buyer demand.  Bottom line:  It’s still a seller’s market.

Downtown San Diego saw an overall median price increase yet again for May 2013.  The average time to sell a condo for sale dropped by 5 days to 43 days on market!  There was a monster sized sale at The Metropolitan (sits on top on the Omni hotel).  All 5 sub neighborhoods showed big median prices increases.

Search all Condos for Sale in Downtown San Diego 92101

This is all very good news for the Downtown San Diego Real Estate Market.  As always, I’ve compiled some vital and interesting statistics below on the market:

92101 May 2013 Real Estate Market Facts (Published June 5th, 2013):

  • 181 Active Listings for Sale as of June 5th, 2013
  • Average Days on Market to Sell:  43 Days (May 2013 was 48 Days)
  • 91 Total Sales for May 2013
  • May 2013 Median Sales Price:  $475,000 (May 2012 was $445,000)
  • Highest sale The Metropolitan, 26th floor, 4 Bed for $3.4M
  • Lowest sale Palermo, 6th floor, Loft for $210,000
  • Most Expensive Current Listing:  Harbor Club, $9.975M
  • Least Expensive Current Listing:  Hard Rock, $200,000

More interesting facts and figures:

  • Only 11 were short sales.
  • Again, there were no foreclosure sales.

Breakdown by Neighborhood for May 2013:

  • East Village – 21 Total Sales, median price was $441,000 (April 2013 was $332,500)
  • Columbia District – 9 Total Sales, median price was $700,000 (April 2013 was $650,000)
  • Little Italy – 7 Total Sales, May median price was $445,000 (April 2013 was $395,000)
  • Marina District – 23 Total Sales , median price was $629,900 (April 2013 was $549,000)
  • Cortez Hill – 9 Total Sales, median price was $382,500 (April 2013 was $319,000)
  • Gaslamp Quarter – 4 Total Sales, median price was $262,450 (April 2013 was $256,000)

Summary:  The real estate market for Downtown San Diego condos continues to accelerate faster than Vin Diesel in the latest fast and furious.  The latest talk on the town pertains to re-entering yet another real estate bubble.  The current climb in demand and prices is different this time around.  The sub prime loans and shady lending practices of old are gone.  This is an absolutely sustainable rise in prices.  Buyers are buying homes and condos they can actually afford.  We live in a capital market, cycles are assured but…  In this Downtown San Diego real estate broker’s opinion, anyone waiting for this current bubble to burst could be waiting for years.  Even when the eventual price decline does happen, you are most likely looking at a soft cyclical decline and likely no where near the low levels we experienced the past few years.  It’s the right time to sell or buy, don’t get left in the dust!

Interested in Selling?  Contact me for a no hassle marketing proposal

Questions? Comments? Please send them my way!

FHA Approved Downtown San Diego Condos – Benefits and Advantages

 

All FHA Approved Downtown San Diego Condos for Sale – CLICK HERE

Benefits and Advantages of Using an FHA Loan:

  • Low down payments as low as 3.5%, they make home ownership very affordable for many would be home buyers.
  • FHA loans are possible for borrowers with “less than perfect” credit.
  • Lower FICO scores than conventional loans are generally accepted.
  • An FHA loan is possible after only 2-3 years following a bankruptcy or foreclosure in some cases.
  • Interest rates are essentially the same as a conventional loan.  The monthly mortgage insurance premium is far less than you would pay on a conventional loan.
  • Debt ratios for borrowers may be higher than what is accepted on a conventional loan.

List of all FHA Approved Downtown San Diego Condos Here

Selling Your San Diego Home or Condo Made Easy

There is so much information regarding how to sell San Diego Real Estate available.  It can be near impossible to know where to start.  Quick video guide to assist you for planning your home or condo sale and knowing where the focus points should be when selling your home or condo.

Major focus points:

  • Price
  • Presentation
  • Marketing

Please see my dedicated guide to selling San Diego real estate for more details and tips on how to get the most money for your home or condo sale.  It isn’t enough that the market is on the ups.  I see it time and time again.  Sellers taking the first offer, sellers taking a shaky offer, sellers taking an offer and leaving 5k, 10k, and up on the table.  Don’t let that happen to you.  Watch the video, then visit this link for more tips and tricks for selling your San Diego home or condo.

Questions?  Comments?  Please send them my way.  Let’s talk San Diego real estate!

April of 2013 Downtown San Diego Condo & Real Estate Market Report

Thank you for stopping by.  This Real Estate Market Report covers the Downtown San Diego Condo market for April 2013.  Demand for condos in the 92101 zip code continues to accelerate at a pace even Olympic Sprinter Usain Bolt would be impressed with.  On an annualized basis, the median price for a sold condo for sale in Downtown San Diego is up over 12%!  That even beats the impressive 10% median price increase overall for San Diego County.

We had 63 total sales reported for April 2013 in Downtown San Diego.  This indicates an annualized percentage decrease versus April 2012 were we saw 83 total sales reported.  This is absolutely to be expected in this current market with the drastic drop in inventory available for purchase.  There are 183 actively listed properties for sale as of 5/13/2013.  Combing this figure with the number of sold properties for April 2013 clearly tells us we are in the midst of a strong and steadily growing sellers market.

The Downtown San Diego Condo distress real estate market is disappearing faster than Casper at a Ghost Busters reunion party.  There were no foreclosure sales reported for April 2013 and only 10 short sales closed per real estate brokerage reporting.

This is all very good news for the Downtown San Diego Real Estate Market.  As always, I’ve compiled some vital and interesting statistics below on the market:

92101 Quick April 2013 Real Estate Market Facts:

  • 63 Total Sales for April 2013
  • April 2013 Average Sales Price:  $522,000 (April 2012 was $464,000)
  • Highest sale Sapphire Tower, 32th floor, 3 Bed for $2.2M
  • Lowest sale Element, 3rd floor, 1 Bed for $125,000
  • Most Expensive Current Listing:  Harbor Club, $9.975M
  • Least Expensive Current Listing: Element, $179,000
  • 180 Active Listings for Sale as of May 10, 2013
  • Average Days on Market to Sell:  48 Days

More interesting facts and figures:

  • 52 sales were regular sales (versus 81 for March).
  • 10 were short sales (versus 11 for March).
  • There were no foreclosure sales (versus 5 for March).

Breakdown by Neighborhood:

Summary:  The Downtown San Diego Condo Real Estate Market is in the midst of a very robust sellers market.  I may not have a crystal ball but I do not see the market slowing down anytime soon.  Low interest rates and the average buyer becoming increasingly more comfortable as the economy continues to stabilize will fuel the demand for Downtown San Diego Condos.  In addition, as prices continue to climb, more and more Downtown San Diego Condo owners will gain equity and list their properties for sale.  All in, expect fierce competition as a buyer for the foreseeable future and an enticing sellers market for all you 92101 condo sellers thinking about selling!

Interested in Selling?  Contact me for a no hassle and free marketing proposal

Questions? Comments? Please send them my way!

Condo for Rent at ICON in East Village Downtown San Diego 92101

Condo for Rent at ICON in East Village in Downtown San Diego located at 321 10th Avenue, San Diego CA 92101.  ICON is located directly next to Petco Park, home of the San Diego and might I say surging Padres!  Priced on the low end for the the building, this one bedroom will rent fast!  The kitchen has beautiful dark wood floors.  Kitchen cabinetry is white with brushed silver hardware.  Very contemporary looking.  Also comes with all stainless steel appliances.  There is a full size stack-able laundry unit on the condo and the bedroom has two closets for extra storage space.  Included is your own assigned underground parking space and a private balcony to unwind after those long days!

Specifics:

Pleas contact me for more more information or to schedule a private tour at this fabulous one bedroom condo for rent in Downtown San Diego at ICON located at 321 10th Avenue, San Diego CA 92101 in East Village.

- Main Marker

March 2013 Downtown San Diego Condo and Real Estate Market Report

 

Holy smokes, March of 2013 was an incredibly HOT market for Downtown San Diego Condo sales!  We ended up with 94 total sales (per Multiple Listing Service).  That is a significant increase in total number of sales compared to last month’s 63 total sales for February 2013.

  • 81 sales were regular sales (versus 50 for February). ⇑
  • 11 were short sales (versus 11 for February).
  • 5 were foreclosure sales (versus 2 for February). ⇑

Other Quick Facts:

  • Highest sale Sapphire Tower, 27th floor, 3 Bed for $1.8M
  • Lowest sale Element, 7th floor, 1 Bed for $154,000
  • 94 total sales of Downtown Condos (67 for February), average sales price was $560,000 (February was $450,000)
  • 155 Active Listings as of April 1, 2013
  • Average Days on Market to Sell:  45 Days

Breakdown by Neighborhood:

 

Tips for Selling Your Home for Top Dollar and Fast!

Real Estate inventory levels continue to shrink as demand continues to climb.  If you are thinking of selling your home or condo, this is a great time.  Positioning your property correctly will result in multiple offers and a very fast and clean sale.  If you are thinking of purchasing a home or condo, this is a very good time to take that first step.  Prices are already on the rise, interest rates will be soon to follow.  We may never again see affordability like it is today in our lifetime.  Thinking about buying?  The time is right, don’t let the market pass you by!  Thinking about selling?  It makes sense, especially if you are “moving up”.

Search All Downtown Condos and Real Estate for Sale

Questions? Comments? Please send them my way!

New Real Estate Video Tour at Horizons in The Marina District in Downtown San Diego 92101

Just finished my latest real estate video tour in Downtown San Diego Condo series.  The real estate video tour is on location at Horizons in The Marina District in Downtown San Diego.  Please check it out below.  Also, visit my dedicated website portal where you can read about the details at Horizons and see all the condos for sale at Horizons.

I am very happy with the quality of the condo video tour.  As always, I wanted to deliver to you a video tour experience as if you are touring Horizons in person.  Several features that I really think make Horizons stand out and to look out for in the video are the massive water feature in the central courtyard, the luxury style pool and aquatic area, and the commercial size fitness facility.

Prices start in the mid $400k range and go up into the millions depending on square footage, floor level, views, etc.  Horizons is modern and sophisticated.  Amenities include pool, spa, fitness center, several community break out rooms, pool table, full concierge and security, and guest parking available on a first come first serve basis.  Guest parking is very hard to find in Downtown San Diego, a huge plus for any guests you might have.

ALL CONDOS FOR SALE AT HORIZONS IN THE MARINA DISTRICT

Living at Horizons is true luxury style living in Downtown San Diego.  If you are in the market for a Downtown San Diego condo, make sure to include Horizons at the top of your list.

 

- Main Marker

 

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Staging Approach Helps Downtown San Diego Condo Sellers

Home-Staging-Sample PicWe all know the feeling – the one where guests are due and you haven’t had time to clean the Downtown San Diego Condo or San Diego Home.  You shove all the…well… stuff into the back bedroom and shut the door (you’d lock it if you could).

Now imagine that feeling times 10.  If you are trying to sell your home this spring, and you have rooms full of that…well…stuff — you’re in for exactly that.

You can prevent it all with just a touch of the staging approach for your Downtown San Diego Condo.  Not everyone has $5,000 or more to spend on professional staging, but then again, you can’t offer your home in “lived in” condition and expect to have buyers racing to write you their high-priced offers.

Real estate is in large part an emotional selling proposition – beyond their basic housing requirements, buyers want to see themselves living a better life in their new Downtown San Diego Condo. The quickest and easiest way to make that possible is to simply get rid of that same stuff!

Here’s an easy example: while a messy home office – one stuffed with papers and files – will cause many potential buyers to think too cramped for me, a well-staged home office helps them imagine their own paperwork in control. To achieve a look that’s clean and simple, box up your files and clean out the dust bunnies.  If you have allowed extra furniture to accumulate (like that folding table in the corner that holds last year’s tax records), go ahead and UN-accumulate it!

Staging of any kind may not be your first choice for how to spend an afternoon, but selling your Downtown San Diego Condo is a business transaction, and when you approach the process confident that a little elbow grease will go a long way, your pocketbook will register the difference.

Do You Need A Real Estate Video Tour?

If you are, in fact, preparing for this spring’s selling season, contact me to discuss practical strategies for economically handling the repairs, remodeling, and staging that will speed the sale of your Downtown San Diego Condo.

REO Bargains Remain for Heads-Up Downtown San Diego Condo Hunters

downtown san diego condo or foreclosure propertyYes, foreclosure rates across the country continue to drop, yet Downtown San Diego Condo bargain-hunters can take heart: there still remain a decent number of bank owned properties in Downtown San Diego. According to the National Association of REALTORS®, distressed homes accounted for 24% of national December sales; a large proportion, but significantly down from the 32% of just a year ago.  Also known as “real estate owned” (or REO) properties, it is well-known that these homes can often be bought at a significant discount — frequently by as much as 16% – 17% below market.

Search Foreclosure Properties

Before anyone updates his or her Facebook status to tell the world about the millions they are about to make by ‘flipping’ Downtown San Diego Condo foreclosures, it’s good to bear in mind some key differences between buying regular homes and bank owned properties. To make an REO purchase successful, potential buyers need to plan for those special factors.

  • Count on Downtown San Diego Condo bank owned properties being more difficult to finance due to guidelines set by lenders: requirements that can prevent REO purchases from going through. Due to a property’s condition (which can sometimes be poor, even non-habitable), FHA and VA-approved buyers must gain pre-approval before submitting an offer.
  • Bank owned properties are generally sold “as-is”, often with fewer disclosure requirements. I always urge my Downtown San Diego Condo buyers to be diligent about pre-purchase inspections – and with REOs, it’s doubly important. Purchasers of bank owned properties can have little or no recourse if defects or maintenance issues are discovered later.
  • Lenders can run into additional costs when selling REOs — costs involving liens, evictions, property taxes, insurance, etc.  This motivates them to try to squeeze as high a price as possible from the transaction. In addition, banks may charge additional fees for extended closing and other services.

All of which goes to the point of how buying bank-owned properties in Downtown San Diego differs from run-of-the-mill home purchases…and why having a real estate agent well-versed in bank owned properties is so important.  If you would like a look at the options currently available among Downtown San Diego Condo REO offerings, give me a call today!