Wednesday, June 06, 2007

Downtown Condo at ParkLoft #1102

Parkloft is in the recently carved out of the East Village Ballpark District.

This unit shows a significant net loss, even more interesting is the last sales date of February 2004 which was over three years ago.

Type: Listed on MLS(#076032067)

List Price: $1,894,900
Cost: $1,950,000
Loss@6% Sales Expenses: $168,794
Loss%: 8.66%

Purchase Date: 02/20/2004
Holding Period: 40 months and counting...

Bedrooms: 2
Bathrooms: 2.5
Square Feet: 2914

Purchase Details: view


Anonymous said...

Who the hell is going to pay
1,894,900 for a basement on top
floor ? For that kind of cash, you
get a ocean view house in Del Mar, La Jolla ,.....

Anonymous said...

I think that one point a lot of corporations and executives purchased condos in the Ballpark District for investment and to entertain themselves and clients.

Now the oversupply will cause big flops.

Anonymous said...

SD rents are apparently going down:
Link Here

Anonymous said...

Oh c'mon, you wouldn't pay 1.9 mil for a view of dudes shooting roids? You do get a view of the park, and it's only can't lose in real estate, don't you know that? it only goes up and up and up.

that's the sales pitch that the bonehead buyer got when he bought it back in 2004 for 1.95 mil. RE is not a good investment long term. you make more in equities long term. at least according to shiller data. of course a RE agent is too stupid to understand that, after all that's why they became RE agents rather than real professionals.

Mark in San Diego said...

Why would they buy in Parkloft, when there are still lots of condos left in Bosa's The Ledgend?. . .right AT the Ballpark. . .

Whatever was left of the re-sale market is now being killed by the yield of the 10 year treasury - now 5.16%. . .can we say 7% 30 year fixed???

Anonymous said...

I think it's almost been said (6.76% today)here.

Anonymous said...

Here is a recent CNN article mentioning the problems with SD condos near the ballpark.

Anonymous said...

Over 2 weeks without an entry. Is this blog officially dead? Or is it just on life support?

Mr. Brightside said...

Not dead yet! You should see a steady stream of blog posts soon.

Let's just say there's lots to blog about.