This is not a Test…This is NOT a Test

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This is not a Test…This is NOT a Test

March 11th, 2009 categories: Buying

Buy now A few days ago, I wrote about a great deal in the Renaissance condo highrise, in downtown San Diego. Today, I’m 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 7^th and the banks going to review all offers tomorrow – Thursday. After that, you’re out of luck. If you want to get in on this deal, you have to act fast. From what I’ve been told, you won’t get a second chance and you won’t get a counter. The comparable sales put it way over the asking price and anyone interested, should be ready to be competitive.

Yes it’s 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. I’ve mentioned it before, but now you’re 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 28^th 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, you’ll still keep a great view and you’re condo’s value will only go up.

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

I’ve 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 Diego’s best developer and it’s the closest you can possibly live to the water. You have a little more time on this deal, but not much. And if you’re thinking, “I’ll just wait for it to go into foreclosure,” you’re risking the possibility of it not going back on the market. It may go to auction, it may get rented out. Plus, if it’s like any other foreclosure, it’ll 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 don’t 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 there’s anything I can do for you.

This entry was posted on Wednesday, March 11th, 2009 at 1:55 pm and is filed under Buying. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.