Downtown San Diego Condos: Don't Send The Green Police After Us! (or Van Jones)

In our travels, we hear how bad the San Diego real estate market is and how much worse it is going to get. Usually we hear this from wanna be buyers who are waiting for the crash. What they don't understand is that in many price ranges, the crash has crashed. Now when you look at this photo, don't turn me into the environmental green police, or Van Jones, the Green Czar for that matter. We try not to waste paper. We try to use email as much as possible. However, once an offer is written, we usually need a paper copy so everyone can sign and we can start the escrow process.

These are a sample of the offers we have received for one of our listings in Chula Vista. Our copy machine threw a major temper tantrum.  We are working on a short sale for one of our sellers and as of this evening  we have received 18 offers in two days. Hard to believe isn't it?

Don't call the Green Police on us. We try not to waste paper.We listed this home a few days ago and it has been chaos ever since. We have tried to figure out the buyer profile, and for the most part, the profile is pretty much the same. First-time homebuyers are in this price range. These buyers are tending to be FHA or VA buyers and based on the quality of offers, the majority of these buyers have learned to write a good clean offer. Prices are running so far about $40,000 - $50,000 over the asking price. That is an amazing phenomena. This is a short sale, so the theory with short sales is to price low enough to attract interest and then the buyers find the correct market price themselves.

I must say though, that even I have been surprised at the number of offers and the high quality of the offers. This is a real indication to me that the low end of the San Diego marketplace is moving up. The buyers who are "waiting" for the thousands of coming foreclosures might still be waiting down the road. No matter what the economy, no matter the heat, the cost of living, the frustration of multiple offers, buyers want to live in San Diego and they will pay the price to live here.

If you are thinking about buying in San Diego, think a little harder about taking action.

By Sharyn & Victoria Crown, Coronado and Downtown San Diego real estate brokers

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