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Jimbo
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| 08/27/2007 8:54 PM |
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| Are you kidding me? Is the market going to drop another 5%-10%? Try another 20% minimum. Get out while you still can. This is tens of thousands of $$$'s you are throwing away. You could easily rent in any one of the nicer condos downtown without the hassles associated with owning plus you will be saving a ton of money. |
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urbanlife
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| 08/28/2007 8:38 PM |
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| You are going to meet a lot of nay-sayers in this market. If you like the place, need a home and got a good deal...then I recommed keeping your ears shut from here on. |
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Anonymous
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| 08/28/2007 9:15 PM |
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| A few years ago it was so smart to buy not just one piece of property but multiple, everyone said to buy, real estate never goes down, San Diego is the greatest. Now that this same real estate is priced 20% less suddenly everyone is negative. I doubt you can time the market, it's better now than it was two years ago if for now other reason than because you have to pay less today than you would have in the past. |
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Anonymous
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| 08/28/2007 11:45 PM |
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Why is renting a bad alternative.
If you can lease a car because it makes better financial sense, then you can also lease a house.
A condo is much easier to lease because there isn't the customization of single family houses. Plus you have so many choices Downtown San Diego.
Actually, leasing a condo allows you to afford a nicer place than you could other wise buy. You can pay rent to the landlord, or interest to the bank. For the same amount of money in rent, you can get a MUCH NICER place.
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Smith
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| 09/26/2007 5:18 PM |
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| Citimark does a great job. Not too excited about the prices though. :( |
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Anonymous
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| 09/26/2007 5:51 PM |
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Guest, are you sure you just drove by? You must've at least stopped over to take the pictures. For an amateur you took pretty professional pictures. How did the sunset cooperate with you just on the day you "drove by"? How come it looks like the interior pictures were taken at a different time than the exterior pictures?
Rather than an independent party, the picture clear show that you're a shill for the developer (or at least an interested party). If you're going to do that perhaps you should be a little more careful in your approach. I'm sure we'll see some of your "amateur" pictures on the MLS listings for Aperture.
I'm not excited about the prices either. They need to drop A LOT before I even consider buying. Good try but it ain't working on me!
Buyers should boycott this property because of such underhanded practices. How can we trust the builder? We can't. That's why we need the lowest rock bottom price to insulate ourselves from all the risks of buying. |
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Guest
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| 09/26/2007 8:08 PM |
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| Original poster here
We got ourselves a real Magnum PI here... If you did one iota of research instead of just scream "shill" everytime someone posted anything positive you would know that the model is in their sales center and the "view" is a poster behind the glass... Hense the different time of day! Anyone that has visited the sales center can attest to this.
This was taken last weekend as I walked through little Italy on my way to try and see the Red Bull air races...
Some people... |
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Ana
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| 09/26/2007 8:55 PM |
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| Does anyone have the price sheet for this development. I too like the building and the location. I am hoping to be able to live downtown one day. |
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Anonymous
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| 09/26/2007 10:22 PM |
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Guest, sorry for jumping to conclusions there. But the photos looked mighty professional there. I've not been to the project so I don't know the model. I'm suspicious of "positive" comments because they normally come from people who have a hand in the cookie jar.
Still overrpriced in my opinion. Nothing screams "buy now." |
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Smith
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| 09/26/2007 10:27 PM |
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| I find it pretty easy to enjoy the architecture while at the same time not being too excited about prices. The good news is that prices have come down a lot. Still no bargains on new projects in my opinion. |
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outofmybudget
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| 09/27/2007 5:51 PM |
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| I really liked what citymark did in m2i and farenheit, but they really missed the (city)mark on aperture. Perfect locaiton imho. In little italy, but far enough away from the train so you won't hear the horn. I walked through the sales office and toured the model unit they built. It is really cheap. The cabinets made IKEA look like KraftMaid. Laminate flooring is awful, awful, awful. The doors felt cheap. It seems that developers have realized that they can sell anything in san diego and the people who don't do their homework will still buy. Or maybe it was late 2005 when these buildings were designed that the developers decided they could sell anything to anyone. |
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Mr_Brightside
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| 09/27/2007 6:12 PM |
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| I would expect developers that are delivering new buildings right now are under a lot of pressure to lower the cost basis on the building due to the declining market. |
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purchasing....
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| 10/01/2007 10:00 PM |
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| Mr. Brightside. Would you recommend purchasing a condo now or waiting until the beginning of next year? I have read a lot of your inputs and they are very helfpul. I am looking into purchasing a condo in Atlas, a new development by DR Horton. Also, my agents says that the best deal I can get is to buy from a developer instead of buying a re-sale condo. Since the developer can offer me closing costs and other incentives. What are your opinions? Or what are other's opinions? |
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Mr_Brightside
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| 10/02/2007 9:12 AM |
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purchasing,
I actually don't think the developer properties are as well priced as the very select (<5%) of the resales out there. That said I do think the developers are going to be pricing better than they have as they are taking large writedowns on their inventory which will lead to lower prices.
As far as buying goes if you have to or want to really bad prices on realistically priced properties are much better than they were two years ago. I do think there is more stress in the market and a lot of new inventory that's completed and not moving which doesn't show up in the MLS so in my view the condo market has more retrenchment ahead.
As far as resales go REOs and owner resales in buildings that were building before the boom have the best chance of getting a realistic market price. Much of the MLS is totally overpriced.
I actually do like the DR Horton projects and Atlas is in a good area that shouldn't be flooded with other very large projects. It's really all about the price. DR Horton should have a good read on pricing based on the La Boheme "auction" results.
Finally buying a developer condo in a new project that isn't well reserved or sold out could be pretty dangerous as you might end up half rentals and half condo owners, this risk is more pronounced for entry and middle market properties which Atlas profiles as. If this occurs your liquiditiy will be very low so you do need a five year time horizon in terms of moving again. |
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Anonymous
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| 10/02/2007 10:31 AM |
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Mr. B, that was a very circumspect and business-like take on the market.
I however prefer the blunt Dr. Laura approach. :)
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lawattraction
Posts:7
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| 10/02/2007 4:24 PM |
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| then what the heck is the HOA for is it just because you want to live in Little Italy. That is such a rip off!! |
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lawattraction
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| 10/02/2007 4:30 PM |
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| Nice Pic!! I envy you what a great location to work at. I use to work in the Downtown area but then the group I worked for shut down and had to head to the main office in Kearny Mesa. |
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lawattraction
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| 10/02/2007 4:37 PM |
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| Check it out, Atlas is a great condo great location. They are almost finished with the 1st phase ready to sell. But the 2nd phase will be finished in about a year from now. Why not wait maybe they will lower the price of the condos. |
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guest
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| 10/05/2007 8:24 AM |
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I actually looked at a few condos in the building this week! They still have a TON of work to do, despite opening next week. As of 10/1, only 40% of of the units are sold (this from the sales rep). I'm suspicous of this number, as I think it's much lower. That figure is probably calculated on what's "released." And I walked by many units that were obviously built but not "released."
bottom line: prices are ridiculous at around $550/sq ft, building is nice but nothing special (exterior design is nicer than interior), and the builder amazingly doesn't want to deal (only giving a token $10k for 1br, $20k for 2br if you finance thru their lender). I've decided against buying here. |
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