Whether you are an investor or a home buyer, downtown San Diego real estate has a lot to offer, especially with the city’s many attractive features. Some of these are key tourist attractions, including Seaworld, Balboa Park, Wild Animal Park, Legoland and the San Diego Zoo, a nice climate, and extraordinary beaches.
The city’s downtown area is also a popular destination for those who want to purchase a second home because San Diego is a well-known vacation spot. It is, therefore, easy to understand why downtown San Diego real estate has continued to flourish despite the crisis in the housing market that has plagued the country, including California.
However, the impact of the housing crisis has also been felt in downtown San Diego condos. A number of these condominiums that buyers have fought over during the height of the housing market bubble in 2004 are either without a buyer or have been foreclosed.
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And if you consider downtown San Diego real estate as a whole, experts are advising buyers to start negotiating because of the low prices and the tax credits being offered. At the present, most of the real estate transactions involve short sales or foreclosures, which is good news for property buyers. Another positive news for buyers is that sellers do not necessarily go after the highest price being offered but they prefer deals that are more likely to close, particularly those involving conventional loans.
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