In a fantastic article in the San Diego Metropolitan Magazine, renown researcher Alan N. Nevin analyzed the downtown San Diego real estate market.

“With only four condominium projects under construction and sales picking up, the bottom may be history,” said Nevin.

He goes on to say that the increase of resale activity means three things.

“(1) buyers are tired of waiting; (2) prices have declined sufficiently to be enticing; and (3) buyers know they can get financing with low down payments and that interest rates are falling.” (Nevin, “Downtown Derby”)

At Solara Lofts, a spacious loft living community in downtown San Diego, we could not agree with Mr. Nevin more! Buyers are tired of waiting and now that they can get the financing they need, they are taking advantage of the dramatic price reductions in real estate.

Downtown condos are priced to sell, and home buyers are realizing that their purchasing power is strong.

“Don’t look for prices to accelerate in the next year. But don’t look for them to decline any further,” said Nevin. “It is a marvelous time to buy if you are a real live owner occupant and intend to live in a Downtown condominium for several years.”

In addition to making a solid investment, buyers at Solara Lofts are privy to Urban Living at its finest. Even 1 bedroom condos get 2 gated underground parking spaces; they have access to Club Solara’s gym, spa and racquetball court; and they can design their own floorplan and fill it with the latest appliances and finest upgrades.

If you have ever considered purchasing in a home in downtown, give me a call at (858) 205-8200. I’d be happy to answer your questions or arrange for you to tour San Diego’s premier downtown loft condos.

Here’s a Printer-friendly version of “Downtown Derby”, by Alan N. Nevin