The San Diego Condo Loft

Cortez Hill’s Aria building (1441 Ninth Avenue) now offers FHA and VA financing. This is a great opportunity for buyers, as Aria is currently the only Cortez Hill development built post-2000 that can extend these types of financing without the buyer applying for individual unit approval (i.e., “spot approvals”). FHA loans require a 3.5% down payment, while VA loans can fund to 100%. Aria still has a lot of very competitively priced 1-, 2-, and 3-bedroom view units available with all the amenities one would expect from a building of its caliber.

Little Italy in San Diego is one of the most popular spots in the city. Little Italy is known for restaurants, great markets and specialty food stores, a convenient location, and it is one of the most affordable areas in San Diego for the quality of the building and residence.

The Taste of Little Italy festival will take place on May 27, with over 20 restaurants participating. Tickets are on sale now.

Take a look at San Diego Little Italy condos here:

Village Walk
Aqua Vista
La Vita
Palermo
Portico
Porto Siena

Find out why CondoDomain is different from other real estate brokers.

San Diego Lofts are a very popular option for urban California living. Many lofts combine a work/life concept, very popular with artists and creative retailers. With work/life living in a San Diego loft, you eliminate the need for a commute, and you live, work and play in one central location, convenient to area attractions and highways.

Take a look at these San Diego Lofts - enjoy the spectacular views and the modern flowing design. Call us to see any of these San Diego Lofts today.

Island Lofts
M2i
Palermo
Park Loft
Smart Corner

Find out why Condodomain is different from other real estate brokers.

Spurred on by California’s 10,000 tax credit and the national $8000 credit, buyers are showing up to take advantage of bargains in the San Diego area.

The market still has a way to go, but with the glut of foreclosures on the market, buyers are looking for deals in the top San Diego neighborhoods of Hillcrest, Mission Hills, and Ocean Beach. The volume of downtown San Diego condos still is very high, which means more flexibility for the buyer.

Take a look at the opportunities in Downtown San Diego Condos here:

350 West Ash

Aqua Vista

Discovery at Cortez Hill

Diamond Terrace

Find out why CondoDomain is different from other real estate brokers.

Foreclosures are on many people’s minds lately.  Since the Federal Government has offered incentives to lenders to restructure people’s loans, local and state governments are encouraging home owners to seek help sooner rather than later and work with their lender to avoid foreclosure.  Help includes restructuring loans, and the purchase of homes by municipalities and non profits.

Foreclosure is the last stop on the money crisis train for home owners.  Once a home is foreclosed, the lender really does not want to own it.  This is why for the savvy buyer, these homes can be a great deal.

San Diego foreclosures are no longer just in risky neighborhoods.  The foreclosure crisis has hit all sorts of homes in all types of areas.  Pre-foreclosure, many homeowners and developers are willing to negotiate with a buyer/investor.  If they can walk away with a little cash and satisfied liens, and you have a property for less than the market value, it can be a win - win proposition.

How do you find pre-foreclosure opportunities?  By searching for them on our site!  Our partnership with RealtyTrac enables you to search all San Diego foreclosure listings.  Pre-foreclosures, foreclosure auctions, and bank owned properties are all at your fingertips on our site, and we can help you make sense of the entire process.  We can also assist you with obtaining financing.  Contact us today to learn more about San Diego foreclosure opportunities.

Hey California! Did you see President Obama with Leno last night? He was in California to speak with approximately 1,000 people in Los Angeles about the $145 million that will help resolve the foreclosure crisis by purchasing and rehabilitating vacant homes, and providing mortgage assistance and rehabilitation loans to existing homeowners. This is an effort to relieve the pressure on the market from California foreclosures.

There has been a lot of attention to nationwide foreclosures in the news lately. The number of foreclosures is up this month, and looks pretty drastic. This is partly because of the moratorium on foreclosures in December and through February, awaiting word from the White House on how the federal government would intervene. Now that the moratorium is over, foreclosed properties that were already set for auction have been again scheduled for sale, and now there is a backlog of them.

Foreclosures are pressuring the real estate market in many cities, but providing many opportunities for home ownership. Formerly investors and “house flippers” were the majority at San Diego foreclosure auctions. But now, regular home buyers who want a chance at an affordable home are flocking to San Diego foreclosure auctions.

While foreclosures in huge numbers hammer housing prices, efforts to sell the homes and get them off the market have two benefits. One is that once the large inventory of San Diego foreclosures is off the market, housing prices can stabilize and a true market value can again be established, with homeowners once again building equity. The second benefit is obvious - the buyer gets a home at a low price.

Buying a San Diego foreclosure is not without risk, since the buyer is responsible for repairs and all liens against the property, including taxes, construction liens, and second mortgages. When it comes to San Diego condos, it’s possible to have less risk exposure than with a freestanding house. We can help you with this. We can give you information about the building, the community, and assisting you in finding out the truth about all outstanding liens. We can also assist you with purchasing any foreclosure you choose, not just a condo.

Here at CondoDomain, we have partnered with RealtyTrac so that you can search all available and pending foreclosures in the San Diego area. Take a look at these, and then call us with your questions.

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.

It’s never been a better time to be a first time home buyer. Lower prices and interest rates, plenty of properties to choose from, a federal first time home buyer tax credit of $8000, and now a $10,000 California tax credit for new construction for any home buyer.

So let me introduce you to Solara Lofts.

Priced from the mid $200s to over a million dollars, these 77 San Diego condo residences are luxurious living in a convenient setting on Cortez Hill. This contemporary San Diego loft residence features Club Solara, a resident owned sports club/day spa, a lounge for men and women with private saunas, a jacuzzi pool, and day spa services provided by Studio on J. Clearly these amenities are expected in buildings where the entry price point is much higher.

These sun drenched San Diego lofts are a short walk to the Gaslamp Quarter, Petco Park, and the Ballpark District. Balboa Park and San Diego Bay are close by. You are literally on top of the world and in the center of it. And if you are a first time home buyer, you have two tax credits waiting for you - while you live in luxury for less than you dreamed possible.

Your Solara Loft residence features gleaming hardwood floors, Eurostar Tilt & Turn Windows, large balconies, designer granite and stainless steel finishes, and cherry wood finished kitchen cabinets. If you are on the penthouse level, your home has soaring 12 foot ceilings. Custom sliding glass partitions and moveable kitchen islands are optional.

I can show you how to find all the great opportunities in San Diego condos for you today.  Let’s make the most of the benefits coming to you from the federal first time home buyer stimulus and California’s home buyer tax credit. Give me a call to tour these luxurious new homes at Solara Lofts today. And don’t forget the opportunity we have for you at Condo Domain - we give you money back at closing.

Here at CondoDomain, we also know that foreclosures offer our buyers tremendous savings. We have partnered with RealtyTrac to give our buyers great opportunities to save on San Diego foreclosures. Soon you will be seeing these listings added to our site.

RealtyTrac also provides pre-foreclosure and short sale information. We’re happy to present this to you and assist you in finding all the great opportunities for buyers of San Diego foreclosures.

Foreclosure is the legal and professional proceeding in which a mortgagee, or other lienholder, usually a lender, obtains a court ordered termination of a mortgagor’s equitable right of redemption. Usually a lender obtains a security interest from a borrower who mortgages or pledges an asset like a house to secure the loan. If the borrower defaults and the lender tries to repossess the property, courts of equity can grant the borrower the equitable right of redemption if the borrower repays the debt. While this equitable right exists, the lender cannot be sure that it can successfully repossess the property, thus the lender seeks to foreclose the equitable right of redemption. Other lienholders can also foreclose the owner’s right of redemption for other debts, such as for overdue taxes, unpaid contractors’ bills or overdue HOA dues or assessments. More details here on Wikipedia.

We’ll be blogging more about San Diego foreclosure in the weeks ahead - the laws that affect you, the buyer, the process, and of course, the tremendous opportunities.

Call us today to learn more about the great opportunities for you with San Diego Foreclosures.

Lets talk about the “f” word - Foreclosure. We’ve seen a lot of attention lately to President Obama’s plan to help distressed home owners avoid foreclosure, and relieve the pressure of those drastically reduced priced  homes on the market. And of course, we’ve seen this rant and this response.

What does this mean for you, the buyer of a condo here in San Diego? Is a San Diego Foreclosure a good deal for you? Will action by Congress keep you from getting an unbelievably good deal, or sweeten the deal more for you?

First, the basics of the plan. The Homeowner Affordability and Stability Plan will not go to speculators, and is intended for owner occupied homes. The Treasury will partner with lenders to reduce monthly payments, bringing down rates so that the monthly payment is no more that 38% of the borrowers monthly income.

Then further reductions will be matched dollar for dollar with the lender to bring the interest down to a 31% debt to income ratio. The modifications will be in effect for 5 years.

These apply to conforming loans only - jumbo loans, non conforming loans don’t qualify. If a mortgage is not held or guaranteed by Freddie Mac or Fannie Mae, or if a loan is more than $417,000, the homeowner won’t qualify for relief. If foreclosure is imminent, further incentives are offered to lenders to consider alternatives, such as short sales. Encouraging sellers and banks to use the short sale option is beneficial to them, and also to you, the buyer.

If the loan is not guaranteed by Fannie or Freddie, then the lender may rewrite the loan, but this is voluntary. While there are incentives for them to do this, it is not a guarantee.

Because of the sheer number of foreclosures pressuring the market in some areas of Florida and California, housing prices have dropped so much in those states that there is no way to re write the loan and have a reasonable loan to value ratio. The plan proposes to cap the ratio at 105% - far too low for some home owners who have seen a 50% drop in their home value since they obtained a mortgage.

So a homeowner who bought in 05-06, in a market where $417,000 plus a downpayment bought very little for the money, likely has a non conforming mortgage. Their property value has declined steeply, and they are in trouble and staying in trouble. However, they may qualify for some of the incentives to avoid foreclosure if their lender agrees. If these properties are offered as a shortsale, the price benefits the buyer.

The Homeowner Affordability and Stability Plan will help some people, and give lenders the incentive to accept alternatives to foreclosure. For buyers, the prices now are great, whether you buy a short sale or a San Diego foreclosure. You want to build equity further down the road. Reducing the number of foreclosures and distress sales on the real estate market will relieve the pressure on prices - and give us a truer sense of the market value of our homes.

Ultimately, a total economic recovery will stimulate the real estate market, because people will have jobs, income, and not be selling their homes due to “distress”.

We can show you San Diego condos in your price range that are a great buy now, and likely to build equity for you later in a recovered market. Some are distress sales, short sales, and some are San Diego Foreclosures. And, they’re wonderful places to live.  Call us,  and remember - when you buy your home with Condodomain, we give you money back at closing

With some of the most outstanding views in the city, the two towers of Horizons are a distictly recognizable address in the San Diego skyline.

Convenient to the Gaslamp District, Petco park, and the Convention Center, the amenities and standard of living are nothing short of superb. Priced from $400K to $2 million, the entry point of this luxury building is surprisingly affordable.

Residences at Horizons are spacious and tastefully appointed, ranging in size from 1036 square feet one bedroom homes to almost 3000 square feet. Amenities include a lap pool, 24 hour secure gated community with concierge service, a fitness center, spa, and community rooms.

Inside your San Diego Condominium residence, you’ll find hardwood cabinetry, full granite counters and backsplashes, Viking and Bosch Appliances, Lutron light switches, and wood flooring. But best of all, you are in the downtown San Diego Marina district, where the best of the city is at your front door.

It may seem strange to refer to luxury housing as “affordable”, but given the opportunities the recent market has for buyers, many downtown luxury buildings are now in a price range that was unheard of just a short time ago. The value in San Diego Condominium buildings such as Horizons is still very much a part of the downtown San Diego lifestyle. The economy is creating circumstances that pressure some sellers - and that translates into opportunities for buyers.

A well located San Diego Condominium with superb amenities will retain value in any market, especially when you buy at today’s lower prices, and lower interest rates. Call me today about Horizons and other downtown San Diego opportunities.

Elegance. Security. Convenience. That’s what you have at Alta.

An elegant soaring tower containing luxurious San Diego Condominium apartments. Modern systems for access and monitoring to keep you safe and secure. And the convenience of living amidst the best of cities for the active California lifestyle, with fast connectivity and ample parking and storage. Sounds like home!

Home at Alta is near Petco Park. Home at Alta is in the heart of the Gaslamp Quarter.   Music, laughter, energy, and the wonderful aroma of great food from restaurants is your street scene. Enjoy the pool, the spa, the fitness center, the club room, and the convenience of ground level retail. Your designer home has the best of lighting, high ceilings, individual heat pumps, hardwood floors, and the best appliances. Your bath has marble countertops, generous sized sinks, European styling. And your views of all that San Diego has to offer are stunning.

Priced from the $600Ks, these stunning urban San Diego condominium residences are home for those who have arrived. Prices are low now, and so are interest rates. You might not qualify for that government stimulus of $8000 tax credit, but if you do, just add it to those perks and this one: we give you money back at closing.

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)