tag:blogger.com,1999:blog-25213986.post116078264607153241..comments2023-09-05T02:56:11.562-07:00Comments on San Diego Market Monitor: Foreclosed Downtown Condo at Union Square #2627Unknownnoreply@blogger.comBlogger3125tag:blogger.com,1999:blog-25213986.post-1160843940356749502006-10-14T09:39:00.000-07:002006-10-14T09:39:00.000-07:00"somewhat rough area". . .yes, that is a nice way ..."somewhat rough area". . .yes, that is a nice way to put it - although the police headquarters is nearby. . .a few years ago, when condo craze would make this a good investment, the neighborhood might have improved as more and more new buildings were built. 2006 is a new ball game (no pun intended) no new buildings will be built for at least 5 years once the current under construction buildings are dumped by developers. I walk the area every few weeks, and see no signs of new business moving in. I DO see section 8 type housing, and homeless and winos on the streets. On a related note - there was a good article in North County times on foreclosures in SD county - 4062 in some state of foreclosure in September. . .I think the whole SD market is really in trouble - not just downtown. Let's hope those SAIC new millionaires buy some condos!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-25213986.post-1160788417520858862006-10-13T18:13:00.000-07:002006-10-13T18:13:00.000-07:00East Village is a dump. The redevelopment efforts...East Village is a dump. The redevelopment efforts have not made it inhabitable yet- unless you are next door to the ballpark. This place is really going to be a bloodbath.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-25213986.post-1160787144457910452006-10-13T17:52:00.000-07:002006-10-13T17:52:00.000-07:00This unit will wind up selling for under 300k. Ma...This unit will wind up selling for under 300k. Max rent is $2000 per month, and why buy it with a negative cash flow since there will be no appreciation for 3-5 years, and there are hundreds of others like it sitting vacant downtown? The only hope the lender has is to cut the price $100k to $399,000 and sell it before December 1st when everyone will have figured out the market has collapsed.Anonymousnoreply@blogger.com