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POPULAR DOWNTOWN SAN DIEGO NEIGHBORHOODS

• Columbia
• Core
• Cortez Hill
• East Village
• Gaslamp
• Horton Plaza
• Little Italy
• Marina

POPULAR DOWNTOWN SAN DIEGO CONDO COMPLEXES

• 235 On Market
• 350 West Ash
• Acqua Vista
• Aloft
• Alta
• Aperture
• Atria
• Beech Tower
• Bella Via
• Bayside
• Bosa Pacific HWY @ E
• Breeza
• Brickyard
• City Walk
• CityFront Terrace
• Citymark
• Columbia Flats
• Columbia Place
• Cortez Blu
• Crown Bay
• Diamond Terrace
• Discovery
• Doma
• Ecco Lofts
• El Cortez
• Electra
• Element
• Fahrenheit
• Finestra Lofts
• Gaslamp Citysquare
• The Grande
• Harbor Club
• Hawthorn Place
• Horizons
• Icon
• Island Lofts
• Kettner Row
• La Vita
• The Legend
• Library Tower
• Lofts @ 777 Sixth
• M2i
• Marina Park
• The Mark
• Meridian
• Metrome
• The Metropolitan
• The Mills
• Nexus
• Pacific Terrace
• Palermo
• The Park Avenue
• Park Boulevard East
• Park Boulevard West
• Parkloft
• Park Place
• Park Row
• Park Terrace
• Parkview
• Pier
• Pinnacle
• Porta d'Italia
• Portico
• Porto Siena
• Renaissance
• Rowhomes On F
• Samuel Fox Lofts
• Sapphire Tower
• Seven on Ketter
• Smart Corner
• Solara Lofts
• Soleil Court
• Symphony Terrace
• Trellis
• Treo
• Union Square
• Vantage Pointe
• Victorian House
• Village Walk
• Watermark

Foreclosures Become Foreclosures in San Diego

We just got a bank owned asset to sell in San Diego that was purchased as a foreclosure two years ago and again is a foreclosure. I'm sure this isn't the first and won't be the last in a target rich environment for homes and condos being foreclosed on. It seems to be the state of the market here in San Diego County and the foreclosures throughout the country should continue through 2015. Is San Diego a buyers market, sure, is San Diego an investors market, you bet, is there the risk of property still declining in San Diego, of course and in many areas it probably will. Is now a good time to buy, that's up to the buyer and what their ultimate goal is.

If the bailout goes through this week it should ease some of the concerns for the lending industry having money to lend at reasonable interest rates. If it doesn't pass things in lending can really tighten up. How much, a lot! If the financial markets fall apart the lending industry could be practically shutdown. Washington is faced with two evils, bailing out the crooked companies on Wall Street to keep the economy from plummeting or let it follow on its course and slip into a crippling economy and wait the cycle out which could take decades. We should find out the direction of the economy soon.

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Posted in San Diego Real Estate Blog, San Diego Foreclosures, San Diego Real Estate, Blogroll

With a couple developers vying for the contract to overhaul the San Diego Civic Center, it remains uncertain whether San Diego City Council in September will decide on a completely new architectural design and development plan or end up remodeling what they have when the proposals were presented to the downtown Center City Development authority. The Center City Develpment Corporation ( CCDC)in October 2007,  put out an RFP request for dvelopers to come up with a new design and budget plan for the Civic Center and the four prime city blocks associated with it.

No matter which way they decide, we are not talking about chump change here. Just to remodel the buildings and bring them up to current standards, we are talking in the range of hundreds of millions of dollars.

Here is the issue that must be reconciled. Our city government is spread across the downtown area like a bird molting its feathers, helter-shelter. Some here, some there and some everywhere. And doing so at a cost of about $13 million a year for the cities municipal workforce. Having all of the city workers in one building hasn't been seen in decades here in San Diego. Not only is the current city hall too small, it is so outdated that soon unless something is done, it might qualify for historical status by its sheer age. Except that, it would certainly not qualify as a beautiful historical site by any stretch of the imagination.

Is it time to go Green here in San Diego and bring our downtown municipal building and civic complex into the 21^st century or just update the old. Doing so is going to cost some serious money either way. There are some arguments that are being made with some credibility of not fixing up the outdated city hall comeplex but to design an entirely new project that would actually save the city money over the considerable cost of remodeling a too small city administration building and continuing to pay rent to keep everyone spread out over the city.

Two proposals to remedy the serious deficiency were proposed by two out of state developers , one from the Southwest area and and the other from the Northwest. There were two proposals presented and each are radically different but both propose to save the city major dollars over the long haul. What's the long haul, actually there are two defined time periods in the proposal. 15 years out and 50 years.

The costs as proposed for the full out redevelopment plan including participation of private developers to be able to develop part of the land for other corporate offices, shopping and housing, over 15 years would be in the neighborhood of $319 million at 15 years and $628 million over 50 years. Cost to renovate the current civic center and consolidate employees, About $395 million over 15 years and a little over 1 billion over 50 years.  As of this writing, one of the designs has already been withdrawn but the one that is left was the more likley of the two fitting the needs.

That might all sound a bit like fuzzy math but if I understand this correctly, we should not be waiting one more year to get this redevelopment of our civic center underway and hopefully start saving a lot of money.

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Courtesy of William Johnson GRI CRS e-PRO author of The Real Estate Text Book and The Voice of San Diego Real Estate

Disclaimer: The information contained in any post written by William Johnson is deemed reliable but is not gauranteed and the opinions expressed in these  writings are my own. I disclaim any liability for any damages or loses direct or indirect that may result from use of, or reliance upon any information contained in this blog or for the accuracy of comments or opinions expressed by others. You are advised not to rely on any information contained herein without your own verification of the information.

The San Diego Maritime Museum is hosting the 2008 Festival of Sail along the Embarcadero in Downtown San Diego.  The ships paraded through the San Diego Bay yesterday as festivities begin today. With tens of thousands of San Diego citizens and tourists alike expected to descend on San Diego Harbor Drive this weekend, the festivities  and activities will be plentiful. There will Bay cruises , music, theatre and even a mock cannon battle.

Among the ship's attending will be the Coast Guards Eagle, which hasn't been in San Diego since 1999, Columbia's tall ship , the Gloria, HMS Bounty ( replica used for the movie, 'Mutiny and Bounty') HMS Surprise ( replica featured in the 2003 movie' Master and Commander' ) along with many others. Another one of the features this year will be the ability to set sail on the Star and Stripes and the Abracadabra of The America's Cup fame, for an "on the water" experience of viewing the tall ship and the cannon battles. There will be daily cruises of the bay available on the old 1914 Pilot Boat, that was used for 82 years as the pilot boat for commercial ships entering the San Diego Harbor. The Star of India, due to renovations will remain in port but on full display. The 'Festival of Sail' will not be in San Diego again until 2011.

Urban Living lends itself to being on the cutting edge of what is new and "in" and hip and cool and every other adjective to describe the latest trend in fashion, food, transportation and nightlife.

I think it was 1984 when I last saw a Vespa. Now I see them everywhere in Downtown San Diego. With a shortage of parking and high gas prices, these two seaters are the perfect vehicle for the urban single or couple. They have become quite the fashion statement as well with people ordering them directly from the maker, the buzz on the street is that there is a waiting list for the little guys.

You can't walk a block without seeing one of the following: a gelato shop, a frozen yogurt shop and now, cupcakes. Desserts are all the rage and you don't eat them at the restaurant you just dined in. Not when you're an urbanite. The etiquette is to eat at the restaurant, then go on a walk back to your neighborhood and pop in to the gelateria for a piccolo cup of Stracciatella and Biscotti hand made on site. The beauty is that you can enjoy a nice meal, go for a walk for 5 or 6 blocks, and reward youself with a nice treat. Some of the new places even have live music performed by local musicians as well. What a great time!

If you are in the mood to show off how great you're looking now that you've been hitting the gym or yoga classes, then there are myriad places to go to at night-or day- to be seen. The Hotel Ivy has fast become the in spot for the Napkin Nights crowd. If you can't get in there, walk on down to Altitude and if it's the right night, you can watch the Padre game live as you will be looking into Petco Park. The Hard Rock Hotel has it's own Intervention every Sunday as well. So don't forget to do those extra crunches so the cupcake won't ruin the fit of your bathing suit.