Downtown San Diego Luxury Condo: Bayside by Bosa

Bayside by Bosa is one of Downtown San Diego's most luxurious buildings. We have just listed for sale 1325 Pacific Highway #802.  This is an awesome unit. Yes, we are prejudiced in favor of this residence, but it is a beautiful southwest corner unit.  The great thing about Bayside is you are able to enjoy privacy and luxury, yet live in the midst of a vibrant and exciting city.

Those of us who came to San Diego many years ago, or grew up here, remember what used to be and it is a different world from today's Downtown San Diego.

This particular unit offers two bedroom and two bathrooms, which isn't that different from other 2 bedroom/2 bath Bayside units.  What makes this residence so unique is the den that creates a "3rd bedroom" feeling.  I don't know if you notice, but there are a number of Downtown San Diego condos that do not have balconies.  Sometimes that is a "missing" element.  This unit offers not only one balcony, but two balconies.  Part of the fun and excitement about living in Downtown San Diego is being able to sit out on your balcony and watch the world roll by.  You can be alone and yet still feel connected to the world.

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Downtown San Diego: Now is the time to purchase

Barron's suggest the housing market is ready to rebound.

Is this the time to buy in San Diego?  I would say yes, but sometimes prospective buyers think real estate brokers always tell them to purchase, whether a good time or not. So I have learned over the years to let the statistics do the talking for us.

Here is a current Barron's magazine. Barron's has no vested interest if you purchase or not. Their advice is to purchase now.  

Rents are dramatically increasing and for sale inventory in Downtown San Diego, Mission Valley, Hillcrest, Pt. Loma, or numerous other San Diego areas is decreasing. In fact, the decrease in Downtown San Diego condos for sale is a little alarming for those of us who monitor the marketplace.

At the height of the depressed Downtown San Diego condo marketplace, there were around 600 units for sale. We thought that was unbelievable. As of today there are 170 active listings in the Sandicor MLS (Multiple Listing Service) for Downtown San Diego. That is about a 71% reduction in active inventory over the last couple of years.  In reality, that is hard to believe, but the numbers are the numbers.

In many instances, it has become sensible to purchase a Downtown San Diego condo versus renting a unit. Financing is still tricky because the lenders are overly picky, but if you have decent credit you have a high probability of obtaining a good mortgage.

We are finding a large number of our clients are coming from other areas.  Sometimes when you live in an area, you become jaded to its attractions. Outsiders see and value the San Diego marketplace. Pre-retirees and retirees are selecting San Diego as an area they are thinking about for their retirement. Many prospective buyers have cash or equity in their current property so as to afford purchasing now rather than waiting until later.

If you are thinking about making a San Diego real estate purchase, and more importantly a Downtown San Diego condo purchase, contact us for the latest market statistics and for location of the best bargains. We specialize in the Downtown San Diego marketplace.

This is a series of articles by Sharyn and Victoria Crown MBA, MSRE, downtown San Diego real estate agents.

How To Furnish a Downtown San Diego studio

This Parsons Daybed is perfect for a Downtown San Diego studio unitStudio units in Downtown San Diego are more popular than you might imagine.  Many of the Downtown condo buildings contain a few studio units.  These residences were priced to attract entry level buyers and they serve their purpose.  

Althought owning a studio is easy, decorating something as small as a studio unit is not quite as easy. We don't hawk products but sometimes we see something that we think might be perfect for a Downtown San Diego condo.

This Parsons daybed can be the answer to the need for a couch and a bed.  Obviously there is not much room for furniture in a studio unit.  Some of the Downtown San Diego studio residences have Murphy beds, which are the beds that fold into the wall.  Others use daybeds, which are used as couches during the day and beds during the night hours.  

The Parsons daybed pictured can also be used as a trundle bed meaning two people can have separate beds.  This particular unit is part of the Parsons collection at West Elm. 

I have noticed that a lot of West Elm furniture and decor is targeted to those who love clean and simple lines.  I haven't seen anything too fussy at West Elm so if you are residing in Downtown San Diego, and want furniture that fits, take a look at this bed. It seems perfect for small living spaces.

If you have any interest in Downtown San Diego condos, especially studio units, contact us and we will be happy to advise you on buildings and residences.

This is a series of articles by Sharyn and Victoria Crown MBA, MSRE, downtown San Diego real estate agents.

I Want To Buy A Mission Valley Condo. What Is Going On?

 Have you said to yourself..."Self I want to buy a Mission Valley condo and how much do they cost?"  I guess if you actually said that people might think you were a little odd.  

That being said, you may have wondered about Mission Valley inventory and pricing.  Mission Valley is an awesome place to live if you love condos and don't want the hemmed in feeling you sometimes have if you live in a Downtown San Diego condo.

Mission Valley has an interesting history and transformation from a farmland to a central location for hotels, shopping malls and condominium complexes.

Like all other areas, Mission Valley was impacted by a falling real estate market. However, we are starting to see a resurgence of buying. In fact, yesterday's inventory only contained 46 condos for sale. That does not include the new Civita development, but such a small number is  amazing.  

The Mission Valley zip code is 92108 and when you search for Mission Valley listings, it is good to search by zip code. Mission Valley runs from Interstate 5 to Mission Gorge Road.  The 92110 zip code weaves in and out with the westerly Mission Valley zip code of 92108.

For those who want to search Mission Valley condos, just click our Mission Valley search link, and for those who are number crunchers, the Mission Valley Sales Data link is very informative.  If you have any questions or would like to view any of the available Mission Valley condos, contact us at 619-977-3175 and we will be glad to set up a viewing opportunity.

This is a series of articles by Sharyn and Victoria Crown, Mission Valley real estate agents.

Downtown San Diego Condos: 41% Reduction in Inventory

How is the inventory in Downtown San Diego?  All we hear in the news is how bad the real estate market is and the market will continue to be bad.  Whoever is writing the articles is definitely not writing about Downtown San Diego condos.

As of March 2, 2012, there are 170 listings available for sale in the MLS (Multiple Listing Service).  That is a 41% inventory reduction from the same period in 2011, and in reality about a 70% inventory reduction from when we hit the bottom of the Downtown San Diego condo market.

Investors began to move into the market last year and have been purchasing units at the low end (under $300,000).  In fact, units priced under $300,000 tend to have multiple offers if they are in a desireable district and are well priced.

As of today, inventory is broken down to 13% priced under $300,000; 32% priced between $300,000 - $500,000; 37% of the market inventory priced from $500,000-$999,999; and 18% of the market priced over $1 million dollars.  For those of you who are dedicated mathematicians, my disclaimer is that I rounded these numbers to the next highest or lowest number.  No matter how you look at these numbers, it becomes apparent that Downtown San Diego is on the road to recovery. 

If you would like a current list of Downtown San Diego condos that are available on the Multiple Listing Service, just contact us and we will be happy to provide  you this information.  In fact, if you go to the "Search Condos" button on our website you can search by price, by district or by building.

This is a series of articles by Sharyn and Victoria Crown, downtown San Diego real estate agents.