Predictions for Downtown San Diego Condo Market

Good Investment Opportunity at Aloft

Cortez Hill Walk up

I have been asked about what is happening in the downtown San Diego market.  Here are the current statistics.  Everything is about the same as it was 1 year ago with the exception of one factor--number of listings is down about 15%.  Having said this, supply and demand will be taking over in the next year.  Almost all of the new construction downtown is dedicated to rentals so there will be no new sources of downtown inventory. 12 new buildings are all dedicated to rentals.   If The Chargers Stadium is approved, it will have an immediate upward shift in prices.  Even if the stadium is not a go, there are all sorts of wonderful plans for East Village development which will make it a cleaner more desirable place to live.  What about interest rates?  There is no reason for rates to remain at the all time low for much longer.  On a $400,000 loan that means $233/mth for 1% of interest rate shift. 
   We have a special walk up loft coming on board for $329,000 in Cortez Hill at Aloft.  This is a great opportunity because it is -0- down for Vets and low down possible for others and they rent well.  The HOA is under $300/mth and it has fitness, pool, spa, fire pits and BBQ's!  Walk to Balboa, Little Italy and the Gaslamp.  We have a fantastic property manager on site that can take care of renting it for you. It's perfect for pet owners with direct outside access and steps from the dog park. Not yet in MLS so let me know if you hear of anyone with interest.
Attention:  We have a short sale coming on in The Gaslamp quarter.  We haven't seen many of these lately.  I don't know much about it yet but you can bet it will be priced below market.  Contact me at marsha@sellsandiego.com