New Condos Downtown San Diego - Desireability Ratings

How do you rate downtown San Diego condos? There are five simple questions to ask and the answers will give you an idea if you are in a desirable building in a desirable location.

• Location includes proximity to restaurants, theaters, shops and nightlife.

• Views include north, south, east, west, bayside, center city, etc.The higher the unit with a less obstructed view generally means the higher the price.

• Quality includes the construction materials, finish work, and continuing maintenance. The better constructed the building, the better the value.  If a building requires a lot of repairs or maintenance, owners will pick up the cost via higher homeowner dues or special assessments. 

• Waterfront includes distance from the harbor. The buildings located in the Marina district tend to have higher value than the buildings located in East Village (as an example) due to walking distances to the bay. That's not to say buildings located further from the bay are less desirable, but higher prices seem to follow units in buildings closer to the bay and higher in the building.

• Risk includes the current financial condition of a building and the homeowner association's financial strength. Lenders are now asking what percentage of units are in arrears with the homeowner dues. This is a change and reflects the difficulties HOA's are having in buildings with owners who have financial distress situations.

By Sharyn & Victoria Crown, Downtown San Diego real estate agents

This is part of a series of articles entitled, New Condos, Downtown San Diego Style