Questions and Comments
This form does not yet contain any fields.

    theresnoplace-trans.png

    blog-trans.png

    Welcome! Join us as we cover local news, real estate and lifestyle.  We will review restaurants and services.  Real estate news is also a part of our lifestye.  We also hope that you will contribute to our knowledge base if you know of any good services, restaurants or anything related to San Diego lifestyle.

     

     

     

    Entries in Gaslamp District (4)

    Friday
    Aug262011

    Buying a Downtown San Diego Condo: What Does $350,000 - $400,000 Buy?

    As of today, August 24, 2011, there are 27 condos available in Downtown San Diego priced between $350,000-$400,000.  This number will fluctuate on a daily basis due to units selling and new units coming on the market.  If you click our 92101 Search page you will see what is available the day you are reading this blog. As you can see from the map, these condos are scattered throughout Downtown San Diego.

    There is something for everyone.  The lowest priced condo is in the Gaslamp District and is a 1Br/2Ba at $274.94 per square foot.  The highest per square foot condo is really a hybrid condo located in the Hard Rock Hotel.  This particular condo is only 431 square feet and is listed at $928.07 per square foot.  The Hard Rock is really not a condo in the traditional sense.  Rather it is a condotel, which means a hotel room that you own but the hotel rents out.  The idea is good but the execution hasn't gone so well.

    Many of the Hard Rock owners are in litigation over what they thought they were buying and what the reality of what they really purchased.

    If you are interested in one of these condos, visit our Search 92101 page and see what is available for purchase.

    We sell what you want to own.  This is a series of articles by Sharyn and Victoria Crown, Downtown San Diego real estate agents.

    Wednesday
    Jul222009

    New Condos Downtown San Diego: Sales Picking up Pace

    The most recent stats we have indicate the Downtown San Diego market is improving. Is that true or
    not? Looking at the graphs it appears the median prices are increasing. Downtown San Diego 3 Month Sales AverageOnce we reach the end of July
    and those stats post, we will start togivea better indication if this is just a blip or if there really is improvement.

    From our perspective, it "feels" like a better market. We have several out-of- state buyers whovisitedDowntown San Diego at the end of May for the purpose of purchasinga downtowncondo. One of our buyers purchased a unitat The Legend, while the second buyer choseBreeza. The builders in both properties negotiated very favorable "deals" for our buyers and both escrows will be closed by the end of this week. Both sets of these buyers are using their Downtown San Diego condos for a second home and an easy place to visit. Living close to the airport is a real selling feature to Downtown owners because a cab ride is quick and very inexpensive.

    We have noticed that the bottom prices in the market place are creeping upward. Selection under $250k continues to shrink while competing buyers continue to grow. Lenders are feeding the inventory, so far, in a steady manner. Foreclosures are a great buy if you do your homework, since the lender does nothing to a unit or for a unit if they can help it.

    • Number of Downtown San Diego Condo SalesLook at the sales chart.Although 2005 had the most number of sales, you can see that sales in 92101 (which is Downtown San Diego) have already surpassed 2008 sales statistics.

      I believe there are several reasons for this increase.

      One reason is that lenders are actually settingrealistic pricing on many Downtown San Diego units, either as foreclosures or a short sales.

      A second reason is that several of the Downtown San Diego buildings have gone thru the approval process for FHA, VA or both types financing. This approval definitely makes it easier for a first-time buyer to find acceptable financing.

      Thirdly there is a much smaller amount of new inventory coming on the market. In fact, the new inventory faucet is shortly going to go to a trickle. This market has forced a number of investors to take a step backwards. Bosa is still banking on high end luxury purchasers, ala Bayside by Bosa, but even Bosa has slowed somewhat.

      And a fourth reason for the uptick in purchasing is the $8000 tax credit, plus a potential $10,000 (State of California) tax credit. One thing I have learned about these tax credits is that they are good until they aren't good anymore. Money runs out so buyers are seriously "getting" into the marketplace now.

      There are still additional reasons why the marketplace Downtown has picked up, but I figured four reasons is about the max anyone wants to read about at one sitting. Numbers are interesting until they become boring.

      Take a stroll downtown this week and see all the Comic Con visitors. You will see Downtown San Diego as the cosmopolitan city it has become. It's a long long way from when the Pussycat Theater used to be located in the Gaslamp. I know about the Pussycat because I made my husband take me there many many years ago. It was a one time experience. Trust me, once was enough.

      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

    Wednesday
    Jul152009

    New Condos Downtown San Diego: Neo-Classical Architecture

    I don't know about you, but I am not that familiar with different styles of architecture. I can tell the difference between Spanish and Modern, but there is always someone who knows more.  I decided to slowly educate myself a little bit at a time. If you are interested in architecture, this may be too basic and simple, but if you are like me, you might learn something new.

    Then: Backesto Building with the Bank of AmericaThis building located at 614 5th Ave. in the Gaslamp District is the Backesto building. The building was originally built in 1873 and was named after a Philadelphia physician, Dr. John Pierre Backesto. Dr. Backesto invested in downtown San Diego although he retired and lived out the rest of his life in San Jose.

    The original tenants included clothiers, milliners, jewelers, a grocery store, liquor store, general merchandisers, hardware store, real estate offices, photographer's studio, and ship

    chandlers and steamship companies.
    (wikimapia)

    This was also the original home of San Diego Hardware, although San Diego Hardware relocated in 1923.

    The Backesto building was the first building in the Gaslamp to be restored. The building is "classical revival and when restored, great attention was paid to detail. The goal was to give the feeling of the old Gaslamp era.

    Now: Backesto Building in the Gaslamp DistrictI researched to find out what classical revival architecture is and learned that Classical revival architecture means someone liked Greek and Roman architecture and tried to construct buildings with that flavor.

    This original "classical" style architecture has other names such as Early Classical Revival, Jeffersonian Classicism, Neo-classical Revival, and Roman Classicism. These buildings were built generally in the 1800's and you will see a lot of older public buildings in this style.

    The buildings tend to be simple and dignified and many of them are quite large. The style shows some common elements such as Roman or Greek temple styles. Like most things, classical revival architecture went out of style, and like most things, classical revival reemerged again during 1895 to 1940. Architects during this timeframe borrowed heavily from the classical revival, but made their own modifications, and then renamed it neo-classical style.

    I cannot touch in enough depth the history of the Blackesto building, so if you are interested you can read more about the building in the Journal of San Diego History. There was a Blackesto building one and building two, plus a partial building collapse and a fire.

    If you have any further details for neo-classical I hope you will comment on this blog.


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

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


    FOLLOW US ON TWITTER: SanDiegoUpdate

    Thursday
    Jul092009

    New Condos Downtown San Diego: Unique Art Galleries Tour

    Interesting, inexpensive and fun. What more can you ask for in downtown San Diego? The Gaslamp has a lot of fun things to do and it doesn't necessarily cost a lot of money. A unique tour downtown is to visit the art galleries located in the Gaslamp District. The Gaslamp is unique in itself due to it historical nature in the evolution of San Diego, and due to it's small size. The Gaslamp is only a few blocks compared to other larger and more spread out Downtown San Diego Districts. If you are looking for some fun you can print our Gaslamp Art Galleries flyer and take a walk on the wild side.


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

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


    FOLLOW US ON TWITTER: SanDiegoUpdate