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December 29, 2007

Downtown San Diego – Good Investment

Filed under: San Diego Real Estate — Agent Smith @ 8:50 am

Downtown San Diego has been the hub for the construction of condos in recent years. The recent development has made Downtown one of the most desirable neighborhoods in San Diego. It is evident due to the increase in population in recent years, which has more than doubled to 30,000 people.

The housing market across the U.S. has slowed in recent months due to rising interest rates and a shift in the demand in the market. This has contributed to a decline in sales and flattening appreciation. Downtown San Diego is not an exception to what is happening in the housing market, as property values have been hindered in recent months.

The slowing of the market has presented an opportunity for buyers. The recent stalling of market can be used to gain the upper hand when negotiating deals. Buyers can now buy condos downtown for less than in the past. This is a good move, as Southern California coastal real estate does well in the long term and is considered a good investment. The large inventory of condos in downtown as well as the trend in the current market has made downtown San Diego a buyer’s paradise.

Conforming loan limits…

Filed under: San Diego Real Estate — Tammy Krug @ 8:50 am

Please vote YES on H.R. 1427.. This is very important for San Diego as well as the rest of California. We need the Conforming Loan Limits to be raised. As it stands right now only 5% of the people living in San Diego can afford to purchase a home… By raising the Conforming Loan Limits this might change that percentage. Please read the article below and speak up!!!!!!!!!!!

C.A.R. and NAR are asking you to please encourage your Member of Congress to vote YES on H.R. 1427, the bill to enact reforms related to Fannie Mae and Freddie Mac. H.R. 1427 may be considered for a vote as soon as next week

This bill will not only reform the oversight of Fannie Mae and Freddie Mac, but includes a provision that would give a newly created regulator the authority to increase the conforming loan limit in high cost areas across the country. By increasing the conforming loan limit in

California, tens of thousands of Californians will be able to afford a new home. We are asking that you contact your Congressman immediately and let him know that any GSE Reform legislation MUST include this provision to increase the conforming loan limit for Fannie Mae and Freddie Mac in high-cost areas such as

California. The current conforming loan limit is only $417,000; well below

California’s median home price of over $580,000.

In addition to supporting high-cost conforming loan limits, C.A.R. also supports:

-The creation of a strong independent regulator to oversee the GSE,

-No statutory limits on the size of the GSE’s portfolios,

-No inclusion of a “Brightline” provision that would completely prohibit the GSE from any participation in the primary market, and

-Allowing the GSE to retain the ability to bring new products to market quickly to meet the needs of the housing markets.

Please click on the following link to take action on the bill by urging your Member of Congress to vote YES on H.R. 1427: NAR Call-for-Action

If you have questions about this Call-for-Action, please contact Lynn King at NAR at 202-383-1156.

********* A message from the California Association of Realtors

If you build it, they will come.

Filed under: California Real Estate,San Diego Real Estate — sunnydayz @ 8:50 am

When the Center City Development Corp. in San Diego pushed the idea of relocating the Padres to

East

Village, in Downtown San Diego, they knew that if we build it, they will come.When I say “they” I’m referring to thousands of patrons who flock to the heart of the city night after night to witness the excitement.With the continuous building of residential units surrounding the ballpark, you can literally sit at your seat at the game and count numerous cranes diligently working everyday to build-up what was recently considered unmentionable and unapproachable.

Just 5 years ago,

East

Village
had the horrible reputation of housing transients, it was the home to the cities “drunk tank”, and on ever corner stood a run down warehouse of some sort.After CCDC and local political figures convinced voters to vote yes on the building of a new ballpark, we almost immediately witnessed an instant transformation of

East

Village
.If you build it, they will come.And sure enough, when you visit Petco Park for a ball game, you’ll notice the seats in the stadium remain empty until the 3rd of 4th inning due to fans hanging out at the near by restaurants or bars that too just recently opened their doors to the growing population.

North Embarcadero Visionary Plan

Filed under: San Diego Real Estate — Tammy Krug @ 8:50 am

This is something that I am very excited about!!! San Diego has been wasting beautiful waterfront prime property for many years. This is, of course my opinion, but I do believe there are many other San Diegans who would agree…. I believe this will make developments like The Grande (North and South towers) and Bayside (which has an estimated completion date of 2009) prime real estate in Downtown San Diego. Not to mention all of the shops, parks and the new high end office building that will be brought in. This project has been “a long time coming” and I encourage everyone, whether you are in Real Estate or not to take a look and see what they have in store for the Embarcadero!!

***The following was found on The Unified Port of San Diego Website:

The North Embarcadero Visionary Plan (NEVP) comprises a set of public infrastructure improvements for the area bordered by Market Street on the south, Laurel Street to the north, the railroad right of way to the east and the San Diego Bulkhead line (the bayward edge of land) to the west, in downtown San Diego. The NEVP will shape the future of San Diego by joining downtown and the bay. The plan will benefit the entire region, enhancing the bay’s appeal as a hub of activity. Highlights of the plan include:

  • A grand entrance along Broadway, from the Santa Fe Depot west to the water.
  • A 1.2-mile esplanade that will stretch along the waterfront with trails for walking and jogging.
  • A pier at Grape Street and North Harbor Drive.
  • The revitalization of the Broadway Pier.
  • A wharf for civic events.
  • The addition of 1,770 trees.
  • An outdoor dining terrace, new retailbusinesses and lighting along the wharf and piers.


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