This is not a Test…This is NOT a Test

Posted on March 11, 2009 | by Denny Oh

Buy nowA few days ago, I wrote about a great deal in the Renaissance condo highrise, in downtown San Diego.  Today, Im telling you to hurry up and call me.  What was once purchased for $810,000, is now listed for $449,900! This incredible 2 bedroom, 2.5 bathroom, 1,295 square foot condo has great water and city views and has an open floorplan.  This deal is going to be gone soon.

Unit 1006 at the Renaissance is a bank owned condo “ a foreclosure.  It was listed on the 7th and the banks going to review all offers tomorrow “ Thursday.  After that, youre out of luck.  If you want to get in on this deal, you have to act fast.  From what Ive been told, you wont get a second chance and you wont get a counter.  The comparable sales put it way over the asking price and anyone interested, should be ready to be competitive.

Yes its a down market, but homes that are priced well, like this deal, will be bid up and will sell for more than the asking price.

Another great deal I have is in the south tower of The Grande as Santa Fe Place.  Ive mentioned it before, but now youre really running out of time.  Unit 2805 in the Grande South has great city and water views.  Positioned at the south end of the South Tower at The Grande, this 28th floor condo has 2 bedrooms, 2 bathrooms, a den and 1,625 square feet “ the A1 floorplan.  And even though buildings will eventually go up all around it, youll still keep a great view and youre condos value will only go up.

This condo was purchased for $1,285,000 in 2005 and can now be yours for only $970,000! Thats a  25% discount.  The banks on both the 1st and the 2nd loans have approved this price and theres no waiting for an approval.  This is a short sale that can move quickly!

Ive said it before and I still feel this way “ The Grande is undervalued and will bounce back more than other buildings once the market turns around.  It was build by downtown San Diegos best developer and its the closest you can possibly live to the water. You have a little more time on this deal, but not much.  And if youre thinking, Ill just wait for it to go into foreclosure, youre risking the possibility of it not going back on the market.  It may go to auction, it may get rented out.  Plus, if its like any other foreclosure, itll probably get bid up over the asking price anyhow.

If you have any questions about these deals, or others, give me a call.  And just as a reminder, I only list deals that my clients dont want. I give my clients first shot at anything I come across, then and only then, do I take it to the public.  Let me know if theres anything I can do for you.

Leave a Reply

Your email address will not be published. Required fields are marked *