The San Diego Condo Loft

We’ve been watching the setup for the Red Bull Air Races that are returning to downtown San Diego for the third consecutive year this weekend (May 9 and 10).  The Air Races are held over water in the San Diego Bay.  Pilots race aerobatic prop planes in speeds over 250 mph (individually against the clock, of course!) in a preset configuration through 6-story high inflatable obstacles known as “Air Gates,” which will be anchored to floating platforms in the Bay.  There are three types of Air Gate which determine the maneuver the pilot must execute–blue gates are crossed in level flight, red gates in vertical flight (at specified right or left angles) and slalom gates with a weaving motion.  Time penalties are issued for incorrect maneuvers (2 seconds) or touching the Air Gates (6 seconds), which are specially designed to collapse on impact.  Because the Air Gates are constructed as a cone in 6 separate pieces held together with zippers and velcro, they are easily repaired if damaged by the Red Bull “Air Gators” course personnel.

The Embarcadero Marina Parks North and South will be the ticketed viewing areas for the races.  Our admittedly brief investigation determined single-day tickets are $24 for Saturday.  Of course, we won’t pay that much! Luckily, since the races are held about 6 stories above the Bay, they’re viewable from many other Downtown San Diego locations.  Condo residents with roof decks can enjoy bbq and drinks with neighbors while watching the races–without crowds.

• Icon: the Icon skybox looks over Petco toward the Bay and the second half of the race course.
• Harbor Club: the best option, west facing units are like front row seats for the races.
• The Metropolitan: another great option for west facing units to see the second half of the course.
• Park Place: luck Park Place residents get to see the racers entering the course as well as seeing the finish.
• Pinnacle: another one of the best options. Pinnacle has an ideal Marina District location with views of the north side of the Bay, Coronado and past the Bridge to Mexico. some condos here will see almost the entire course.
  

Other options we’re considering include:

• Seaport Village: right by the Embarcadero and on the water.  Probably unobstructed viewing.  Expect large crowds.

• Back of the Convention Center: the Convention Center terraces are about 4 stories above the Embarcadero.  Might be heavy security to keep people moving so the Center remains accessible.  Expect large crowds.

• The Gaslamp Marriott (660 K Street) is ahead of the curve and the only hotel advertising viewing for the Races at its open-air Altitude Sky Bar on the 22nd floor…with NO cover!  Doors open 11:30 am Saturday and 10:30 am Sunday.  Altitude has a great view into Petco Park and usually has a DJ.  Expect to spend about what you would’ve on tickets to the event, but for food and drink.

• The Top of the Hyatt bar on the 40th floor of the Manchester Grand Hyatt (One Market Street) should have an impressive view from above the event.  Space on the Southeast windows will be at a real premium, though.  Disclaimer: Top of the Hyatt opens at 3 pm, so it’s probably only a good bet for stragglers.  They will allow children before 8 pm.

• One last locale we’re curious about is the new Hilton Bayfront (One Park Blvd).  Its Odysea bar has outdoor seating on the Bay that should  have an excellent view, albeit from the Race’s end as opposed to the side.  Caveat: Odysea opens at 3 pm, too.

Parking downtown this weekend for the Air Races will probably be difficult.  The Trolley will be a good bet to arrive cheaply and on time.  The MTS Trolleys are running Special Event Service from Qualcomm, Old Town, and the Santa Fe Depots.  Qualcomm has plenty of free parking, and the MTS Family Weekend Promo allows 2 children 12 and under to ride free with every paying adult.  If you plan to arrive via trolley, you will want to take it to the Convention Center station, then walk to your viewing destination as outlined above.

I hope you enjoyed our San Diego city wide party for St Patrick’s Day this weekend. The parade near Balboa park was as usual, lots of fun. I really like having the park festivals and parade on the weekend, since it gives everyone with children a chance to come and really enjoy the fun here in San Diego.

The party lives on here in San Diego, as the Gaslamp Quarter is now rolling in green Astroturf - to resemble the green hills of Ireland. There’s a fabulous outdoor musical party going. Stroll over the “grassy” hills of 30,000 square feet of Astroturf to enjoy traditional and alternative Irish bands at the ShamRock. PLENTY of green beer is also available. Tickets are $20 in advance, $25 the day of - and you MUST be 21 and up. You can buy the tickets online.

San Diego never misses an excuse to have a good time with great music. While you’re partying at the Gaslamp, if you decide that you’d like to live there, give me a call. The deals on San Diego Condos are pretty green right now. With the California $10000 tax credit, the new federal first time home buyer tax credit of $8000, and low interest rates and price reductions on San Diego condos, buyers have a world of opportunity. Contact me today for details, and remember, here at CondoDoman, we give you “green” money back at closing.

The first time home buyer tax credit of $8000 is generating a lot of interest among potential San Diego Condo buyers - and a lot of questions.

What’s interesting for all home buyers is the various initiatives in states right now - California just passed a $10000 tax credit for newly constructed homes available to ALL home buyers this year, in addition to the federal $8000 credit for first time home buyers. Delaware is considering mortgage and down payment assistance. Missouri is considering a $1000 credit for all home buyers, which is attached to a jobs bill. And on a more localized level, Philadelphia is offering up to $5000 for 300 new home buyers IF their employer matches the contribution. So far about 180 people have qualified under the Home-Buy-Now program. Philadelphia also has many properties that qualify for a 10 year tax abatement.

Keep watching your state and your city legislators - more help may be on the way.

Some questions that buyers have posed recently:

1. What happened to the federal $7500 credit? Can I claim that AND the $8000 credit too?

No. The $7500 credit can be claimed this year for purchases in 2008 - and it has to be paid back. The $8000 credit is for homes purchased in 2009 - and does not have to be paid back.

2. Who is a first time home buyer?

For the purposes of the $8000 first time home buyer stimulus credit, a first time home buyer is someone who has not owned a home within the past three years.

3. What happened to the $15,000 credit that was being talked about?

In the final stimulus bill, Congress reduced it to $8000, and allowed for credits on vehicle purchases. Many people in the building and real estate professions are lobbying for a full $15,000 credit for all home buyers - across all markets that would be a REAL jump start, especially in those areas where prices have fallen more than 50%. But hey, right now, it is what it is - grab it and go for it. And in California, you have a lot more to grab right now.

4. When do I see the money?

When you file your 2010 tax return.

5. What else can I do to get a great deal?

Glad you asked that question. In addition to the tax credits, here at Condodomain, we encourage you to contact our local realtors to find the best deal that is right for you - and when you get to closing, we give you money back. Yes, we offer a rebate on the commission costs that the seller pays. We charge you a flat fee for buyer representation, and the rest of the commission goes in YOUR pocket at closing - not ours.

In California, if you buy a San Diego condo for $500,000 we negotiate the best deal possible for you. We help you find the best possible mortgage for you. Then, at closing, we cut you a check (based on a price of $500,000) for up to $10,000. Next year, when you file your taxes, claim your tax credit based on your purchase price for additional savings. Consider your closing costs, your homeowners insurance, and possibly a month or two of your mortgage payment in the bag.

Call us today to take advantage of all the great deals on San Diego condos for ALL home buyers.  And remember, we’re the people who provide you world class service and give you money back at closing.

So what is the story with the stimulus and the tax credit for first time home buyers anyway? How different is it from the tax credit that already exists?

Originally, a $15000 stimulus credit was discussed, one that would be open to all home buyers who had not purchased within the past three years. This would have carried a 19 billion price tag. Congress reduced it to $8000. But you still are eligible if you have not owned a home within the past three years.

Congress missed a great opportunity to stimulate many local housing markets. With lower prices, low interest rates, and a large tax credit, first time buyers and those starting over after three years could have had some leverage to enter the market and relieve the backlog of inventory. $8000 is not nearly so dramatic, especially since we’ve got a $7500 credit now. The main difference is that this credit does not have to be repaid. It is also not available to those in upper income brackets.

You can claim the $7500 credit on your taxes you will file for 2008. If you buy now, you can claim the credit on the tax return you file in 2010.

Of course, when you buy your San Diego condo with us, you don’t have to wait to file your taxes for us to cut you our own “stimulus” - we cut you a check at closing. And our check might be larger than $8,000.

Let’s say you buy a San Diego condo at Sapphire Tower or Aloft on Cortez Hill for $500,000. The buyers commission that we collect from the seller will be around $15000. Commission rates and agreements are negotiable, and may vary. But our flat fee for representing you is only $5000. So we cut you a check at closing for the difference, which is $10,000.

But you’re in the price range for about 250K at Smart Corner. Well, same math. Assume our commission for representing you, the buyer, is around $7500. But our fee is still $5000, so you receive the difference at closing of $2500.

So lets see - we still have low interest rates for qualified buyers (that’s you) a lot of San Diego condos on the market for the qualified buyer to choose from (again, that’s you having fun house shopping) and now if you are a first time home buyer you get an $8000 credit on your taxes next year (that’s you doing the happy dance in April 2010). AND WE GIVE YOU MONEY BACK AT CLOSING.

Give us a call, we’ll find the right San Diego condo for lucky you!

Adaptive Re-use is a wonderful way of taking a building that is beautiful, old, and no longer functioning in its intended use, and changing it to a modern function. This concept is behind many San Diego Condos and lofts. Treasured pieces of history and architecture no longer function as warehouses, banks, offices, train stations are remade into residences or public spaces.

One such adaptive reuse in San Diego is Electra, the San Diego Condo that has transformed the SDE&G “Station B” into the tallest residential building in the city. These luxurious two and three bedroom San Diego Condos have incomparable views of the city skyline and the harbor. The building houses San Diego State University’s Downtown Community Gallery, which enhances your world with local art and culture.

Your residence features hardwood flooring, marble or travertine baths, contemporary European Kitchens with polished granite, full height expansive windows with roller shades to improve energy efficiency, and an electric fireplace with slab granite surrounds. The Electra also has the latest in telephone, cable, and data wiring, a central water softener system, gated parking, professional concierge service, a fifth floor outdoor swimming pool with spa, and an exercise facility with sauna/steam room.

Modern amenities amid art deco elegance is what you will find at Electra. And these San Diego condo residences are selling! Priced from $549,000 for a two bedroom home to $2.4 million for a penthouse, these opulent residences are just the thing for the discerning buyer who wants location, prime view, and values modern luxury in an architecturally beautiful setting.

Call me today for a tour of Electra. And don’t forget - we save you money at closing!

The local three day celebration of the Vietnamese New Year, Tet, was held this weekend in Balboa Park. Hosted by the Vietnamese American Youth Alliance, this weekends festivities were nothing short of spectacular – and loads of fun and great food. You can see a full recap of events here

Now this is one week after Chinese New Year. And one month after January first. And almost nine months before Jewish New Year starts in September.

That’s one great thing about living in a city like San Diego, with such diverse cultures. You get a do over on the New Year’s resolutions!

You also get to participate in just about any reason at all for a party. We’re a long way from New Orleans, but we have a Mardi Gras festival, this year on February 24, in the Gaslamp section. Oh, but wait, the weekend before that, we will be partying for Carnevale in Little Italy. And then in May, it’s the Zydeco Gator by the Bay Festival, where 8000 pounds of crawfish will be consumed…

San Diego is such a beautiful city, it is small wonder that we celebrate it every chance we get. Outdoor festivals are just one part of this great climate and beautiful scenery we enjoy, and it’s all part of the energy of our city. Art Festivals, Music Festivals, Food Festivals – seems like we live – and eat – outdoors.

It is truly a joy to live in a beautiful city like this.

Remember when you buy with CondoDomain in San Diego you save thousands via our commission refund business model.  On average our clients get back more than $10,000 cash back at closing!  (Learn More)

San Diego condo buyers are experiencing opportunities that they have not had in a long time.  According to MDA Dataquick, the median price of a downtown resale condo was $415,000 during the third quarter of 2008.  In November, it dropped to $377,500.

So if you thought you could not afford to live downtown, that you needed more than $500,000 for a downtown San Diego condo, think again!

If you are a qualified buyer, successful in your job, generating good income, you undoubtedly were told not too long ago that you had to settle for less in San Diego - your money would not buy you the lifestyle befitting a successful urban professional.  So you settled - or you kept renting.  But now, with continuing foreclosures, with newly built properties that have not sold, and with continuing pressure on the market, it is your turn!

Search every available San Diego condo on the market here!

Remember when you buy with CondoDomain in San Diego you save thousands via our commission refund business model.  On average our clients get back more than $10,000 cash back at closing!  (Learn More)

What are your plans for Thanksgiving San Diego? Are you going to a relatives, staying home, going out to dinner, eating a Big Bird? Well, whatever plans you have in store for Thanksgiving Day 2008, we hope you have a great one.

Thanksgiving is a time to give thanks for things we are grateful for and one thing CondoDomain San Diego is grateful for is the wonderful year that we have had and the fantastically anticipated future we have since we launched in San Diego a few months ago.

Whether you simply enjoy visiting our San Diego condo blog or enjoy looking at the new San Diego condo developments on our website, we hope that you have learned Who We are and What we DO.

Who we ARE

What we DO

If you want more, contact us immediately or meet your San Diego condo team

Have a wonderful Thanksgiving and get ready for a fun-filled, jam-packed holiday season! We can’t wait to spend it with you San Diego!

According to MDA DataQuick and pointed out by Emily Friedlander at the WSJ Developments Blog, home sales are up 66.7% in Southern California:

Drop prices low enough and the buyers will come. Home sales in Southern California rose again last month, according to a report released today by San Diego-based MDA DataQuick. The real estate information service reported that in October 21,532 houses and condos closed escrow in six counties in California Los Angeles, Orange, Riverside, San Bernadino, San Diego and Ventura. This was up 5% from September and 66.7% from last year. More than half of all sales were on homes that were foreclosed on at some point in the previous 12 months. Typically real estate sales slow down from September to October. At $300,000 the median home price in the six-county region was at its lowest since April 2003. Readers, do you think rising unemployment and declining consumer confidence will impact SoCal home sales next month, or will we continue to see buyers jumping into the market?

So if you’re in the market, check out the condo developments in San Diego through CondoDomain.com and save yourself THOUSANDS!

Look out San Diego…CondoDomain - San Diego is coming your way!  Today was our grand launch into the San Diego condo marketplace and we are just getting started.  If you visit our San Diego Condo website you will see that we have updated all the hottest new condo development and luxury buildings.  This is just the beginning of building the ultimate San Diego Condo website!

Check out some of the hot new developments for sale:

Alta | Aperture | Solara Lofts |Search All New Condos

What else do we got on CondoDomain - San Diego?

Video - We love video! | San Diego Condo Blog

What are we all about?  What makes us different?  Check out below!

How our commmission refund works | CondoDomain vs. Traditional Broker | The Condo Team

What Else?  Well, we are about a week or so away from implementing our MLS data feed.  Once we have that you will have access to every San Diego condo for sale!  From MLS listings, new develompents, lofts, luxury buildings, foreclosures, auctions and even FSBO.  CondoDomain - your source for San Diego Condos !!!

All ready to go?  Interested in buying a San Diego Condo?

My name is Clive and I am here to help you 7 days a week!  Feel free to call me anytime!

Well….your about to find out.  We are almost ready to launch the San Diego conod marketplace right here on the CondoDomain.com network.  We have landed our San Diego broker and can not be more excited to launch the San Diego condo website.  It will be found at www.SanDiego.CondoDomain.com

With our recent launchs in the Atlanta condo and Charlotte condo markets, San Diego will be the hyper-local condominium website servering all of San Diego.

Stay tuned for CondoDomain.com to stretch to West Coast and rollout our innovative web-based real estate brokerage!  Flat fee, buyer only brokerage….the premier player in the condominium marketplace!