When mortgage underwriters approve a residential loan application, they do so based on various financial factors, and the most important is the applicant’s ability to repay the loan. Other factors, such as collateral, credit record, and property values, are also considered, but lenders focus more on what they perceive as the applicant’s likelihood of being able to make not only mortgage payments but also related expenses, such as property taxes and homeowners insurance. In the United States, the ability to repay mostly hinges upon borrowers being able to hold on to their jobs. To this effect ..read more

When closing on penthouses, condos, and lofts in downtown San Diego, it’s common for realtors to give new homeowners housewarming gifts. These gifts are a great way to celebrate clients’ purchases, and they can also provide realtors with the chance to advertise their services. Here are some of the fun gifts you might get after you finalize your purchase. 1. Local Art Some realtors may help you experience the rich culture of your new neighborhood by giving you a piece of art from a local artist. A nice framed piece of artwork can be a fun and unique way to get started decorating your new home ..read more

When housing market conditions favor sellers because of strong demand, the Multiple Listing System (MLS) starts getting flooded with properties prospective buyers would normally skip over if they were just looking at photographs of the homes. During speculative real estate bubbles, it’s not uncommon to come across MLS entries for properties that aren’t only in ghastly states of blight, disrepair, and filth—we’re talking about listings that only have location and low prices as redeeming qualities. Naturally, cleaning up these properties isn’t something sellers are concerned with. If you’re look ..read more

In March 2020, the San Diego housing market entered a period of uncertainty. Although the year started off with strong sales activity and rising home prices, lower mortgage interest rates and concerns about the future of the American economy caused the market to cool down. Economists at the California Association of Realtors expected a shift from a seller’s market to a more balanced situation, one that would give prospective buyers more leverage. With this in mind, it would be easy to assume sellers would be more willing to entertain lower bids, but this may not apply in every situation.  Mark ..read more

By virtue of its name, the East Village district of downtown San Diego sometimes evokes comparisons to its counterpart in Lower Manhattan. While these two neighborhoods share a certain level of laid-back trendiness, San Diego’s East Village is considerably larger. In fact, it’s the largest district in downtown San Diego, and it offers a more appealing quality of life for residents. It’s no secret that prospective homebuyers in downtown San Diego tend to look for properties closer to the waterfront, particularly high-rise condo towers with sweeping views of the harbor, but there are various rea ..read more

Southern California isn’t generally known as an affordable region to live in. The cost of living in San Diego is higher when compared to other cities such as El Paso, Memphis, and Fresno, but it’s certainly more affordable than San Francisco, New York City, Los Angeles, and even Oakland. For the most part, residents of downtown San Diego are fine with having to pay more in exchange for a higher quality of life, but there are plenty of entertainment options that can be enjoyed at very low prices. People who live in lofts, penthouses, or downtown San Diego condos are sure to love these six fun ..read more

Dating scene status isn’t normally one of the factors homebuyers consider when looking at property listings, but it doesn’t hurt to evaluate the feasibility of meeting like-minded singles within a regional housing market. In the case of downtown San Diego, singles have the upper hand for various reasons. For decades, the downtown districts have attracted single sailors and Marines stationed at nearby military installations, and they often mingle with unmarried college students. This has been traditionally misconstrued as creating a gender imbalance, but a 2019 study published by personal finan ..read more

When you browse through listings of condos for sale in downtown San Diego, you’ll invariably come across descriptions of common areas, such as swimming pools, parking garages, fitness centers, conference rooms, lounges, and even panoramic terraces complete with fire pits. In condominium towers, apartment buildings, gated communities, and all residential communities governed by homeowners associations, common areas are any structural sections that aren’t deeded individually. They’re meant to be used, enjoyed, and maintained by all property owners, and they may go beyond amenities. Legal Definit ..read more

Property taxes are assessed on real estate and real property. It’s a common misconception that condo owners don’t pay property taxes because they don’t own the land on which the buildings sit or the buildings themselves, but condo owners do own their individual units. In California, condominiums are considered real property, so they’re subject to property taxes. Here’s what potential buyers and current owners of condos in downtown San Diego should know about property taxes. How Condo Property Taxes Are Calculated Property taxes are always based on the home’s appraised value, whether it’s a sin ..read more

When you move into a new loft in downtown San Diego, you may find the kitchen space a bit underwhelming. Depending on the developer, that may be intentional. A traditional loft conversion that starts with a former commercial space involves creating as much open space as possible, and this may include a kitchen with minimal cabinetry and counters. New lofts may feature kitchens complete with center islands, cabinetry, and counters, but the style may clash with what you have in mind for the entire space. The open floor plans of lofts call for a different approach to remodeling, and this extends ..read more