Wednesday, August 08, 2007

Downtown Condo at Horizons #1301

Horizons is a Bosa project in downtown's Marina District.

The loss on this unit isn't horrible relative to the other losses that we've seen. What is very notable is the last sale was back in April 2004 which is getting awfully close to 2003 prices. Keep in mind this is a very high quality building and not an apartment conversion.

Type: Listed on MLS(#076057042)

List Price: $609,000
(Range priced $599,000 to $619,000)
Cost: $635,000
Loss@6% Sales Expenses: $62,540
Loss%: 9.85%

Purchase Date: 04/28/2004
Holding Period: 40 months and counting...

Bedrooms: 1
Bathrooms: 2
Square Feet: 1036

Purchase Details: view


Smithers said...

predicting this unit will ride the market down, with price decreases alsways too little and too late, to finally sell in high $400Ks.

but, what do I know?

Anonymous said...

What affect will rate increases on jumbo loans have on this property and others in downtown SD?

Anonymous said...

I noticed this property sold in 2001 for $350K. Double that - it probably peaked in value at about $700K during the peak of the hysteria.

Now it is "only" $600K. Big deal. I'll wait. I predict units like this will sell in the low-$400Ks again in the not-too-distant future due to the tighter credit standards, higher interest rates, and flood of foreclosures.

Mark in San Diego said...

Any updates on SmartCorners?? I keep going past there, and waiting for move-ins. . .the office sign in Gaslamp said "July Move-ins". . .the commercial building is open, but no occupants yet in condo. . .will this go rental? BK?. . .seems very quiet over there.

Gateways International Movers said...

Gateways International Movers

Gateways International Movers will guide your relocation effectively.

At Gateways International, we understand that shipping your belongings is one of the most complex and sensitive concerns, while moving worldwide. As you focus on upcoming overseas relocation issues and a new country with new customs and probably a new language, Gateways takes care of your actual international moving for you, ensuring a completely effective, stress-free and seamless relocation.

Our goal is to assist our customer in creating a stress free international move customized to fit both operational and budgetary requirements. Gateways International movers System provides customized international moving services and competitive pricing for members of The Association of Relocation Agents, the European Relocation Association, the Employee Relocation Council and worldwide Chamber of Commerce.

It doesn't matter whether you are moving to Spain or you are planning on Moving from us to uk Gateways International movers gives you the opportunity to experience peaceful moving process and top quality services.