Sharyn & Victoria Crown MBA, MSRE

We often hear the question "Why are prices so high in San Diego? Where I am from we can buy a 3br/2ba home for $120,000 and here you want $550,000. That doesn't make sense." I have learned not to defend San Diego prices. As they say, a picture is worth 1000 words. Here is why San Diego is worth the money to me. Sit on the beach in Coronado (one of the Top 10 Beaches) and see Pt. Loma. Watch the ships leave and enter San Diego Bay. Just enjoy the day.

When you can be at the beach and see the Pacific Ocean in all its glory, it is worth the price, to me at least. When two days of rain are followed by a week of clear and sunny weather, it is worth it to me. When cold blizzards keep you inside doing whatever you do inside during blizzards, San Diego is worth it to me.

I have learned just to smile when someone aggressively tells me our San Diego real estate market is overpriced. Suffering in weather like this is achievable to me. I will suffer so you won't have to suffer.

This is a series of articles by Sharyn and Victoria Crown who specialize in San Diego real estate. Properties can be searched at San Diego Crowns and Downtown San Diego.

San Diego short sales seem to be something we are all talking about and taking for granted right now. Whether a Chula Vista short sale, or a Coronado short sale, we all tend to see the home market as being in terrible straits. Obviously San Diego home prices have taken a tumble over the last few years. No one can argue about that. However, when you compare world prices, you will see that between 1997-2010 prices in the United States actually show between a 58% -71% increase.

I don't know about you, but this is actually some very good news in a bad market.

These statistics from the Economist still show us the United States is between a -6.5% and a +11.3% under or over valuation, depending on whether you are using Case-Shiller index or FHFA (Federal Housing Finance Agency). As much as I would like to believe FHFA, I think Case-Shiller works better for me.

FHA and subprime loans got us into this mess. I would rather think we are undervalued right now than overvalued. Most of us are ready for this housing collapse to be over. We can wish and hope.

Downtown San Diego condos are in the undervalued marketplace right now. There are some tremendous bargains, whether traditional sales, short sales or foreclosures. The only country on this list that I can see has consistently increased their pricing is Switzerland. That's probably because they are conservative and have a lot of our money in their Swiss banks.

One of the conditions right now is lack of sales. Buyers have hit the wall. They are unsure of their jobs, their income, their expenses and their government. None of us where we are going in the current environment. We have people in power wanting to tax tax tax and businesses just do not expand under those conditions. Therefore buyers do not buy large purchases and homes and condos move slower. Interest rates are the lowest I have seen in my 33+ year career and these low rates are not motivating too many people to take the plunge.

Australia seems to have an overheated market right now. Let's hope they are smarter than we were and don't tumble like we have tumbled. Australian prices declined in June for the first time in 17 months. The Chinese don't feel they have a bubble due to higher downpayment requirements, but we all thought the same thing a few years back. We were wrong. They may be wrong.

To read the full Economist article just visit the Economist website.

Sharyn and Victoria Crown are San Diego real estate brokers specializing in the purchase and sell of good investments. Visit our Downtown Crowns website or search the San Diego reale state market at our San Diego Crowns website.

Renaissance in Downtown San Diego is one of our most luxurious complexes. Located in Marina Distrcit and bounded by 1st, F, G and Market, Renaissance continues to offer spectacular Downtown San Diego views in addition to San Diego harbor, Coronado and Pt. Loma panoramas.

This particular unit offers 3 bedrooms and 3 baths of understated elegance. Recently remodeled, the owners of this condo have used the Tuscan/Old World style that appeals to those who appreciate elegance.

Can you imagine the dinner parties you can enjoy from this unit? Views of Downtown San Diego surround you. Elegance in dining for anyone tired of day to day hustle and bustle.

Renaissance contains 221 elegant Downtown San Diego condos and the higher the floor, the more spectacular the views.

For additional information about this unit or to schedule a showing please contact Victoria Crown 619-977-3174 or victoriacrown@gmail.com. Willis Allen continues to lead the luxury market whether Downtown San Diego, La Jolla, Del Mar, Rancho Santa Fe, Santa Luz or Fallbrook.

Sharyn and Victoria Crown are San Diego real estate brokers specializing in the finer things of life. Please visit our DowntownCrowns website.

Chula Vista is home of numerous short sales and foreclosures. The Chula Vista market was one of San Diego County's highest concentration of subprime loans. We have learned that a picture is worth a thousand words. Take a look at the last year's condominium inventory in Chula Vista's 9191 zip code. Chula Vista's Eastlake condos are somewhat deceptive. The 91915 zip code is home to large 3 and 4 bedroom condos that feel like a single-family home. They are spacious and make great use of three-story living.

You can see that July sales in 91915 Chula Vista ranged around 26% of listings. In other words, if you are a seller, you had about a 1 out of 4 chance to close your sale in July 2010. You can see why pricing so critical in the Chula Vista marketplace.

Sharyn and Victoria Crown specialize in condo and home sales. Visit our Downtown San Diego website or search for properties at our San Diego Crowns website.

Downtown San Diego (92101) sales were a little mixed in January 2010. If you would like a copy of the entire Downtown San Diego January 2010 Sales, just click January 2010 Downtown San Diego Sales.