Park Boulevard West San Diego Condos records $350,000 sale

This beautiful recently sold San Diego condo was on the market for less than four months, sold at an 11% reduction in price for $350,000 (Originally listed at $395,000.) This two bedroom two bath property has 1036 square feet of utilizable space. 

One of 48 condos in this complex, this unit was generously upgraded with neutral carpeting, fully loaded modern kitchen with granite countertops, and fresh paint throughout. Boasting privacy with no living spaces above or below, this one story home has a balcony and fireplace in the master bedroom.  These gated San Diego condos were built in 2004, and feature two underground secured parking spaces. Pets are allowed in this San Diego condo complex, with some restrictions.

Read also: San Diego Downtown Park Boulevard West is a place to call home!

Located in East Village, near the Gaslamp District of San Diego, Park Blvd. West condos offer the location advantages and charm of the area.  It is three blocks from San Diego's Petco Park so the community is convenient to many of downtown's famous features, such as Horton Plaza for shopping and the many fine restaurants and music venues of the Gaslamp. This is an almost new condo community, built in 2004.

For further information on any San Diego Condos contact:

Gregg Neuman

Gregg@sellSanDiego.com

1-800-221-2210

www.SellSanDiego.com

WHY DON'T SOME CONDOS SELL?

Many of San Diego's sellers often ask me why their homes don't sell. With over 27 years of experience and more than 5,000 closed sales in my career I have noted the following reasons homes don't sell.

Read Also:  How words assist in the sale of your San Diego Downtown Luxury Condo

LOCATION

Unfortunately, one of the main reasons Downtown San Diego homes don't sell is often their location. Especially in a buyer's market a poorly located home will not sell. If it is too close to the freeway, impacted by railroad tracks or even located on a busy street it becomes more difficult to attract a buyer. The only thing that can be done to overcome a poor Downtown San Diego location is to attempt to compensate for the location by pricing it aggressively.

Read Also:  How To Sell Your Downtown San Diego Condos

FLOOR PLAN

Somehow in San Diego's Downtown Condominiums the developers seem to always have some challengingly designed floor plans in every building. These floor plans probably sold sight unseen when the San Diego real estate boom was in full swing, but now that the cycle has cooled these plans become more difficult to sell. The fault may be one of many reasons why floorplans are undesirable;

• poor view
• small secondary bedrooms
• too few assigned parking spaces

Again the only solution is to price the San Diego Condo low enough to overcome the design flaws.

Read Also:  Home Selling Tips: San Diego

THE ASKING PRICE IS TOO HIGH

There is an old axiom in real estate about "location, location, location". Frankly as we discussed in the first section location is important, but the location and all other issues can be overcome by the real real estate axiom "price, price, price". There are many negative things that can occur from over-pricing.

• A property sits on the market too long gives buyers the impression that something is wrong with the property. 
• You lose buyers that should be looking at your home, but pass since they or their Realtor® don't find it because it is not located in the price range they are targeting.
• The longer a property languishes on the market the more apt the San Diego seller is to receive a "low-ball" offer, if any offer at all.  Also the more likely the seller is to sell it at a price lower than it is worth. Many sellers want to be able to "come down" when they get an offer, but you have to generate the offer before you can even come down.

Read Also:  Getting Your San Diego Downtown home SOLD!

SAN DIEGO CONDO CONDITION

The majority of San Diego buyers want to purchase a condominium and not have to do any work at all. They want to turn the key and move in their belongings. Having a property listed that is in need of fixing greatly limits the number of buyers that are willing to purchase or look at the listing. Probably ten (10%) percent of buyers are looking for "fixer uppers" and those buyers anticipate buying your home at such a discount that they can fix it up and still make money themselves. Builders make model homes, car dealers wash and wax every car on the lot and so intelligent sellers also need to create a good first impression by staging the home, removing clutter and excess furniture, replacing soiled carpet and painting dingy walls.

Read Also:  5 Tips That Will Help You Sell Your Condos: Downtown San Diego Condos

SELLING "AS-IS"

Most buyers regard "AS-IS" homes as too challenging to deal with. The seller may only mean that it needs carpet and paint and that the seller does not want to undertake those repairs, but to a buyer it screams out "cracked slab, damaged goods". These properties may often be a good deal for the right buyer, but advertising "AS-IS" is generally not a smart choice.

Read Also:  How To Sell Your Downtown San Diego Condos This Spring

THE LISTING AGENT SELECTED

Many Downtown San Diego real estate agents in the industry are known to other agents as "difficult agents". This often means that they do not return calls or they are slow to respond to offers or they keep a larger share of the commission and offer to the cooperating broker less than the customary three (3%) percent.

The best listing agents use numerous and aggressive marketing techniques. This is especially critical in a "down market". Websites such as www.realtor.com; www.zillow.com; and www.trulia.com are frequently visited by home buyers long before they ever contact an agent for assistance. Mailing to surrounding properties is often a great technique since many people have friends looking to move into the same condominium or neighborhood. Make sure your agent's company is connected to a relocation company with out-of-town buyers. Lastly do not  ever overlook that old standby the open house.

Read Also:  Prepare Your Downtown San Diego Condos For Sale

THE REAL ESTATE MARKET

Knowing the market you are in is critical to the success of selling your home.

• If you are in a seller's market, like San Diego experienced from 1998 until late 2005 you can be more aggressive since there is low inventory and more buyers which, in turn drives up prices.
• A buyer's market, such as we are experiencing in the San Diego Downtown Condominium marketplace, is just the opposite with more homes than buyers and lots of downward pressure on prices.
• Lastly a stable market, the most rare of all markets, is where there are an equal number of buyers and sellers and prices are generally stable.

Read Also:  Why Isn't Your Home Selling? : Downtown San Diego Condos

When interviewing for an agent find out what the average market time is for homes that are selling and when you reach that point revisit with your agent what they are doing to overcome any of the challenges and if they turn out to be the challenge make a change. 

Rehab A San Diego Property!  

Two friends transform a San Diego downtown dental office into a contemporary condo with live-work space. The possibilities are endless when you purchase Real Estate in San Diego downtown and use your imagination to transform it into the San Diego downtown condo of your dreams. Find out how these two young San Diegans created the perfect San Diego live-work condo space.

Last year, Jason Maune and Dan Smith bought a dated dental office in need of a deep cleaning. They liked its location on a busy street in the heart of a reinvigorated North Park neighborhood. Its simple, box-like shape would also give them flexibility to carve the interior into a home, an office, a workshop, a showroom and a great gathering place. Inspired to transform the old building into a contemporary space, the friends became business partners, formed Point of Departure Design and launched a makeover of the 1939 building.

"We tried to respect the unique features of the Art Deco exterior, while uncovering its modern aspirations," says Maune. Both he and Smith are architectural designers by trade, so it is not surprising they found satisfaction in doing most of the remodeling themselves. What is surprising is their youth.

"I think our generation isn't afraid to break from the norm," says Maune, who, like Smith, is in his early 30s. "Out of that can grow innovations in housing or employment that may not have been considered or available before."

Unlike his parents when they were this age, Maune says, his life doesn't revolve around family but rather his career and community. And like many in his generation, he has concerns about the future.

"One negative about my age group is we're developing an overreliance on electronic devices," he says. "That is of great concern on a human level, as we need to keep in touch with how to work with our hands."

Both Maune and Smith plan to continue restoring older buildings for modern use. While they may sound wise beyond their years, they haven't lost their sense of humor.

Marketing your Downtown San Diego Condo

Just as a resume's main function is not to get you the job, but to land you an interview, the words you use when describing your Downtown San Diego condo is not to get the sale, they are used to spark enough interest so that prospective San Diego buyers will want to see your codo.  If they don't see your Downtown Luxury Condo there is no shot in them buying it!

If three or four San Diego Luxury Condos have the same features, are location friendly and fall into the targeted price range, then you want to be sure the words you use single your condo out as the one they decide to tour.  Along with excellent photography those words help define the lifestyle the San Diego buyer desires.

Read Also:  Downtown San Diego Luxury Condo For Sale - Palazzo de Cielo

Be careful the words accurately describe your San Diego Condo - nothing will irritate a prospective Downtown buyer more than being encourage to tour a home that the seller has taken the liberty to embellish and  a valuable showing of your San Diego Condo will be wasted.

Buyers are not stupid!

Unless your Downtown San Diego Condo is priced accordingly, avoid words such as:

• handyman special
• motivated seller
• good value
• clean
• must sell
• and the dreaded as-is
  

  

If these do describe your San Diego Downtown Condo and you have priced it accordingly, then you might also want to encourage buyers who are up to doing their own work with applicable additional positive phrases such as:

• good bones
• great period architecture
• fantastic location
• incredible views

If there are expensive items that have been done in the Condo mention them specifically:

• new furnace/air conditioning, etc. 
• remodeled kitchen
• new tile or flooring

If some are the major expense items have been done, it might encourage your handyman to take a look at the San Diego condo.

On the other hand, if you have a desirable Downtown San Diego condo that is competing with all the other desirable Luxury condos, you have to make an effort for your words to describe your San Deigo Downtown condo so that you increase the buyer's likelihood to view your home. 

Just remember they must accurately describe your San Diego Condo.   Words and phrases that may be do just this include, gorgeous, move-in condition, walk-in closet, luxury bath, impressive entry, (or impressive whatever!). 

In addition you can list an upgrade that has been recently completed, as in new flooring, windows, furnace, etc.  In today's world if you have done anything to "green" your San Diego Luxury condo, mention that item.  There are many young San Diego buyers who have an intense interest in conservation and things "green".

Read Also:  Prepare Your Downtown San Diego Condos For Sale

Obviously you cannot use each and every word or phrase that describes your San Diego Downtown Condo, but be sure to select the features that are unique and best highlight your Downtown San Diego Condo.

There is no cut and dried answer to this question; your personal circumstances will determine the correct answer. If timing was not involved it would certainly make the answer a bit more simple.  The following thoughts might help you come up with an answer that suits your situation.

Read Also:  What Is An Acceleration Clause?: Downtown San Diego Condos

• Waiting until you have a sale on your Downtown San Diego condo until you buy.

This might mean that you miss out on that ideal Downtown San Diego condo you had your heart set on.

You'll also have to figure out what you will do if your Downtown San Diego condo sells before you buy a new one.  If you don't have the funds to rent for the interim, then can you store your possessions and "camp out" at your Mom's for the time it takes to buy another Downtown San Diego Condo?

Read Also:How To Buy Downtown San Diego Condos

• Buying a new San Diego Condo before the old one is sold.

Unless you buy a Downtown San Diego condo contingent on the sale of your current condo, you might end up owning two San Diego condos at the same time.  It goes without saying that having the expense of two mortgages is a tough nut to crack for most people.  In this situation you might feel pressured to sell your current Downtown San Diego Codo for less than market worth, which could cost you more than the interim housing costs you would have incurred had you waited until you sold before buying your new house.

Read Also:  Find A Good Mortgage: Downtown San Diego Condos

Another available option should you find yourself with two mortgages is to rent out your old home until it sells.  That comes with its own set of problems.  Showing a San Diego condo occupied by renters is not all that easy.  Scheduling is sometimes a problem and in most cases renters may not keep the Condo  in "show case" order.  In addition, the new buyer might not want the hassle of getting the tenants to move out in a timely manner.

A third option would be to rent out your new condo, remaining in your old home until it sells.  Hmmm, who would want to do that??

• General Considerations

Buying a San Diego condo on contingency is the safest option of all.  The worst that can happen is that you lose a Downtown condo that you have fallen in love with.

If you buy a new home before selling the old home you might put yourself at financial risk by having to carry two mortgages.

If you sell your current condo and don't have a new one you risk having to find accommodations until your new one is purchases.  Double moves are expensive, grueling, and a ton of work.  But moving in with Mom might just be the cheapest option of all! In this situation!

Read Also: Moving Tips: Downtown San Diego Condos

Do you want to Sell your San Diego Downtown Home Quickly and for Highest Dollar?

Your Downtown San Diego condo is probably your single largest investment. While the value of your downtown San Diego condos is largely determined by things like location, size, condition, and amenities, there are still steps you can take to maximize the chances of a sale in an inexpensive way. Evaluate the situation to see if your Downtown San Diego condo could use the following, make the changes, and you'll be on your way to the goal of finding a Buyer.

Read Also:  5 Tips That Will Help You Sell Your Condos: Downtown San Diego Condos

Things You'll Need: A small amount of money and some tools.  But most importantly you will need a little bit of your time!

Step One:

First understand and accept that you need to treat the sale of your home as if it's no longer the place that you love. Now that you are selling, consider it a HOUSE, not your heart and soul. Look at it from a potential Buyer's eye.  You want them to make an emotional connection to your condo.  And you want it to be a positive one!

Step Two:

How's the patio look?  Make sure it is neat and clean. Free of clutter. Consider fresh flowers and remove any dead plantings.

Step Three:

Dress up the entrance- A freshly painted door with a new door handle will always make a great first impression.  Don't forget a nice door mat! 

Step Four:

Make the inside shine.  Make sure every room is ready by:

• Besides visual -- how does your condo smell?
• Removing big furniture
• fresh coat of paint
• all light bulbs work
• windows are clean
• carpets free of stains
• no loose door knobs or cluttered closets
• Maybe even a few new light fixtures. Make it shine!!

 Read Also:  How To Sell Your Condo Fast In 2008: Downtown San Diego Condos

What you need to know to protect your condo and your family in the case of a California Earthquake

When preparing for an earthquake in your downtown San Diego condo, there are precautions that you need to take even before the bolting down of pictures and paintings on the wall.

Your condominium association insurance covers the condominium building, commonly owned property, and liability insurance for the association. But it doesn't cover losses to your unit as a result of a burglary, if water damage ruins your living room walls, or if someone slips on your wet kitchen floor and is injured.

Read more »

When it comes time to move to your new downtown San Diego condos, you have a lot of things you need to get done before you can head out on the road. One of the major considerations is how you are going to transport your belongings to your downtown San Diego condos. Will you use a rental truck, like U-Haul, Ryder or Budget; or to rent a moving container, like Pods? Here are some things you might want to think about before moving to your downtown San Diego homes.

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Open House Checklist: Ten Great Open House Ideas For Your Downtown San Diego Condos

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Decorating for Your Open House : Tips and Tricks To Sell Your Downtown San Diego Condos

If you have been following our advice on open house tips for your downtown San Diego condos, you have already learned how to arrange the larger items in your rooms to create a better traffic flow and the illusion of more space. Once your furniture is arranged to create an open, airy feeling, you're ready for more open house ideas to put the finishing touches on your small room makeover. Follows these tips to capture the interest of downtown San Diego condos.

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How much Will You Have To Pay In Capital Gains When you Sell Your Downtown San Diego Condos?

When your downtown San Diego condo is your principal residence, and you are selling it, the basic tax rule is that you can exclude gains of up to $250,000 if you are a single taxpayer and $500,000 if you are a married taxpayer filing jointly, provided the downtown San Diego condo was your primary residence in at least two of the preceding five years. This exclusion can be used once every two years. While this rule seems fairly straightforward, there are a number of special situations to keep in mind:

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Downtown San Diego Condos: Standing Out From The Crowd

If your New Year's resolution is to sell your Downtown San Diego Condos in 2008, it's probably time to start thinking about how to make those Downtown San Diego Condos stand out from the rest.

But before planning any projects, beware: Homeowners aren't recouping as many improvement costs as they could in recent years, according to a recent study by Remodeling magazine. In fact, real-estate agents advise clients not to overdo it when fixing up their downtown San Diego condos, regardless of what the local market conditions are like.

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Tell The IRS Why Your Selling Your Condo, You Get A Tax Break

Being a crime victim is usually no cause for celebration. But there is at least one consolation: The IRS may give you a tax break when you sell your downtown San Diego condos.

Most people who sell their downtown San Diego condos after having owned it for at least two years don't have to pay federal taxes on their gain. A sale in less than two years after the purchase, however, often triggers some sort of tax hit. But even owners of downtown San Diego condos who need to sell in less than two years may qualify for special relief if they had to sell because of "unforeseen circumstances," according to a 1997 law.

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