Three weeks ago, I listed Harbor Club residence #706 (100 Harbor Drive #706) with a colleague, Ann LeBaron. It had previously been listed two times last year for a total of 99 days and never sold. Four days after being listed with us, we had multiple offers and ended accepting an all cash offer with a 17 day escrow. The buyer was from Turkey and looking for an investment.
Often times when I talk to a potential buyer about what kind of offer they want to make on a home, their first question is, “What’s the list price again?” Now that might make a lot of sense, as you would want to know what something costs before you attempt to buy it. However, what people should really be asking is, “What’s it worth?” Buyers are too often focused on what the list price is and not what the comparable sales (comps) suggest the home is worth. I get it – everyone wants a deal and no one wants to pay what the seller is asking for.
Well, if you’re one of these people, I have a great deal for you. There’s a property that was recently listed for sale and I think it may be THE BEST DEAL in downtown San Diego I’ve seen in a a few years. If you know me, or if you’ve followed my blog over the years, you know that I rarely talk about a great deal…it’s not because I’m keeping them a secret, or I don’t study the market, it’s because it takes a lot for me to think something is a great deal. Ok – if you’ve read this far and you’re in a position to buy, stop now and call me. Denny Oh – 858-243-2092. Read More
I just listed residence 401 at the Pinnacle Marina Tower, with my colleague Ann LeBaron. This is the south east corner and is a large 2BR/2.5BA condo. These south facing corner units have always been in high demand at Pinnacle and you do have a water view from this 4th floor (keep in mind the 10′ ceilings add a bit height to each floor) – in fact, it’s MUCH nicer than I thought it would have. At 1,509 sqft and with the tall ceilings, this property is a large condo. The living and dining space are wide open and is great for entertaining. And although there’s no den, the condo lives like a 2BR+Den because it’s so large.
Anyone looking to buy some art? The Museum of Contemporary Art San Diego (MCASD) is having their biennial auction on Wednesday, March 28th, 2018. Tickets just went on sale and are available at the link here. Also if you’re not already aware, the MCASD hosts their Downtown at Sundown (formerly known as Thursday Night Thing – TNT) every 3rd Thursday of the month from 5-8pm. This event is free and they have DJs and drinks available to purchase.
If you’re thinking about buying a condo in downtown San Diego, but you’ve been waiting for prices to drop, you might want to keep reading. For the last 3-4 months, the mid-top end of our market has been painfully slow. Currently, there are ZERO condos in escrow that are priced over $1.5M (I’m not counting any new construction as most of those are not on the MLS). Let me repeat that….there are NO CONDOS IN ESCROW OVER $1.5M IN DOWNTOWN SAN DIEGO. There are however a total of 27 properties listed for sale between $1.5-6.2M.
As a highrise (I don’t like writing high-rise) specialist, I’m always struggling to match my clients’ “wants” with reality. People always want something higher up, or a little bit larger, or a better view. I get it…I’m probably pickier than anyone I know (just ask my ex-girlfriends). Well, to everyone who’s been looking for an amazing property with incredible views that isn’t $4M, I have the perfect place for you – 325 Seventh Ave #2103.
I recently listed an incredible 3BR/2BA condo on the 29th floor of the Pinnacle. 550 Front Street #2903 is located on the NW corner of the building and has panoramic views of downtown San Diego, the bay and ocean, Coronado, Mexico and much more. The owner has made significant upgrades to this property and for a limited time, it’s being offered at a reduced price of $1,645,000-1,795,000 (#3003 sold for $1.8M back in Oct. ’16).
Downtown living is all about convenience and views and Pinnacle residence 2504 offers the best of both! The Pinnacle is located in the heart of the Marina District and has gorgeous panoramic bay and city views. The two bedrooms are on opposite sides of each other, each having its own full bathroom and there’s also a powder room for guests. Residence 2504 has 10′ high ceilings, wood floors, Italian Snaidero cabinetry, crown molding and a massive patio. The master bedroom has a walk-in closet and a second closet (for “him”), a jacuzzi tub, separate shower and dual vanities.
Contact me at 858-243-2092 or [email protected] for more info.
At 43 stories high, Electra is downtown San Diego’s tallest residential tower (now Pacific Gate is tied with it). Unit 2903 is on the north west corner of the 29th floor and has sweeping views of the city, airport, Point Loma, Coronado and the bay and Pacific Ocean. This is a one0-of-a-kind floor plan, as there are only two of these condos to begin with (only 2903 and 3003 share this layout), but the owners opened up the second bedroom to create a more open space. The second bedroom now serves as an office, but could easily be turned back into a second bedroom.
With projects like the Manchester Pacific Gateway, improving Seaport Village and Bosa building ultra-luxury towers in the vicinity, Electra is in one of the best locations to benefit from the billions of dollars of improvements. Take a look at the photos and videos below.
With only 234 condos for sale in all of downtown (only including what’s Active on the MLS), inventory continues to remain low even though we’ve seen a 2.1% increase in new listings – some of which is from Pacific Gate. So far, there have been 14.8% fewer sales in 92101 year-over-year, even though market time has decreased by nearly 19%. August has started off slowly and the general consensus amongst realtors, is that listings are not getting a lot of showings. I don’t know if that’s due to the heat, politics, or people wanting to keep their money in the stock market. Either way, downtown has seen a 5.4% increase in the median home price YTD. At $525,00 (YTD), downtown is slightly below the county median price of $595,000, which is up 8.2% YTD.