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Aria Sales Up - Plan B, E, I, K1 SOLD OUT
Last Post 01 Jan 1900 12:00 AM by Anonymous. 36 Replies.
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Author Messages
CEE

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09 Jun 2009 10:43 PM
    I went on the ARIA website and a new site has been created check out the plans part: http://aria-sandiego.com/plans.html Sales Progressing: Plan B, E, I, K1 SOLD OUT
    coastrenter

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    10 Jun 2009 01:39 AM
    Are you an Aria owner? What was your PPSF?

    Plan K1 is a single first floor unit.

    The other 3 plans that are sold out account for 21 units total.

    So are 22 sales supposed to be impressive?

    None of these plans are for units above the 9th floor.

    These require jumbo loans where rates are high and getting higher.

    And how are these supposed to be up? Compared to what? Aren't buildings already supposed to be completely sold out, or at least close, by the time they are finished?

    coastrenter

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    10 Jun 2009 01:45 AM
    Buy v. Rent

    Buy in Aria 2/2 unit $500,000
    Mortgage + HOA + Property Tax = 3500 a month

    Oh and hope you don't mind putting up a huge amount of cash for a down payment.

    Rent a 2/2 in Vantage Pointe = $1500 a month
    coastrenter

    --
    10 Jun 2009 02:00 AM
    More Aria Crazyness

    They say the unsold units are "from the mid 300's"

    The worst unit there looks like the first and second floor "C" units which are 1/1 and 870 Square Feet.

    That comes to $402/sq foot + above market HOA fees.

    For that same $350,000 you can also get a first floor unit in Discovery, but one with 2 beds and 3 bathrooms and an extra 450 square feet.

    http://www.sdlookup.com/MLS-0760656...o_CA_92101

    OR you can get a 2/2 at Discovery on the 4th floor, with an extra 200sf, for $305,000

    http://www.sdlookup.com/MLS-090000713

    The buildings are spitting distance from each other, though Discovery is not as close to the freeway.

    Yeah Cethis, I am sure Aria sales are GOING GREAT!!!! BUY BUY BUY! Why not get a unit for the in-laws too, and a third as a rental!!!!!
    Brian

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    10 Jun 2009 06:03 AM
    cethis keeps on telling us that Aria is ripe for appreciation. Read the
    previous Aria thread
    for your yourself.

    That guy must be a salesperson over there. It's a nice building but that kind of sales tactic is such a turn off.

    cethis, tell us what you bought first, before telling others to buy.

    DT.SD

    --
    10 Jun 2009 10:10 AM
    [quote]Aren't buildings already supposed to be completely sold out, or at least close, by the time they are finished?[/quote]

    Good question. The current sales rate is obviously below builder expectations and at peak time they did sell out before the buildings were completed, but I think neither would be considered normal. Any one have an idea of what a builder would forecast in a normal market?
    sdbri

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    11 Jun 2009 03:57 PM
    Developments like this always get repeatedly sold out over and over. In some cases like the Heights and Venetian, it turns out they have almost a hundred units left and were lying. What they actually mean by "sold out" is "we've sold 8 units out of 8" over and over.
    SDScott

    --
    12 Jun 2009 02:41 PM
    i live in aria and anecdotally i can tell you that it's getting more full there. just by the look of the parking lot and seeing people around. for a year i pretty much never saw another person in the elevator or exercise room. it's different now. it's also FHA approved finally, so it's 51%+ closed.
    cbr600f4i2

    --
    12 Jun 2009 07:03 PM
    I hear crickets...
    CEE

    --
    22 Jun 2009 01:46 PM


    UPDATE: PLANS: A, B, C, E, E, I, J, K, K1 SOLD OUT

    http://aria-sandiego.com/plans.html
    Greg

    --
    23 Jun 2009 12:39 PM
    Cethis,

    If all that is true, then why are you spending time on here pretending you're an independent observer of this building? Do you really think anyone here actually believes you're not a salesperson?
    susy

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    23 Jun 2009 01:16 PM
    [quote]UPDATE: PLANS: A, B, C, E, E, I, J, K, K1 SOLD OUT

    http://aria-sandiego.com/plans.html
    [/quote]

    So from what's [i]not [/i] sold out, they're at the most 82 units still available...still a lot of inventory.
    CEE

    --
    23 Jun 2009 03:15 PM
    Actually 82 is just 50% of the bulding. To be FHA is to be 51% of greater. Worst case scenario is 88 Units sold (51%) and again that is the worst case. It seems more and more units are taken,i f you see the side of the building facing 9th, it seems that all the units have been taken in base of the building.



    CEE

    --
    23 Jun 2009 03:42 PM
    Should I be posting on all the building forums to sound more objective. I just liked the building and have walked through.

    I get emails from Aria marketing because I registered and when I get something intersting I share it on the fourm. Tell you what, I write in 4 other forums so this way I am objective.
    Greg

    --
    23 Jun 2009 07:49 PM
    Cethis' greatest hits:

    Cethis
    05/21/2009 6:23 AM
    ARIA is va & FHA approved - I attached the mailing i got: It's easier than ever to make ARIA your home with VA & FHA qualification • 0%-3.5% down payment options • Flexible credit requirements • Controlled loan closing costs • Co-signers accepted • Low monthly mortgage insurance 1, 2 & 3 BEDROOM Homes Starting in the Mid $300,000's! • Spectacular views • Large outdoor balconies • Floor-to-ceiling windows • Top-of-the-line appliances and finishes • Fitness center with lap pool and spa • Clubroom with kitchen, wet bar, theatre and pool table • Secured access and parking • Close to the perks of downtown without all the noise *Aria is now VA/FHA approved.

    Cethis
    12/24/2008 9:41 AM
    I would steer clear from discovery, it is a jungle in there. I also here there are water pressure issues.

    Cethis
    12/24/2008 9:42 AM
    ARIA is high quality, When I walked through I think the Sales persons name was Peggy..She was really helpful.

    Cethis
    12/23/2008 10:08 AM
    Responding to: Go down Memory Lane...

    There are no units selling under 380K...there was a time one could purchase at this price...but that time has since past....

    Cethis
    06/23/2008 9:38 AM
    Window washing twice a year in pretty much the norm in all Downtown highrises. Aria only has 187 units which is small compared to Smart Corner (307) and Vanatage Point (700+). Its a smaller building making it more desirable, and more unlikely that it will turn into a rental property like Smart Corner. I believe that about 40% of the unit are either sold, in escrow or they had move-ins. The last couple times I have been to ARIA, I have seen more and more people inside the office and now it seems that you have to call in before going so you do not have to wait for a sales agent to finish showing to others. Frosted glass was in all the models I have seen, along with fisher and paykel appliances which are top end. I like the unique feel of luxury, in that the appliances and fixures stand above all other places I have seen. Its very modern.

    Cethis
    05/30/2008 10:57 AM
    ScottSD seems to be commenting on all the buildings and communities on this site. I sense that since ScottSD is restricted to a VA Loan (rightfully so, since they have much better Terms and Conditions), and because of this, ScottSD has to abide by the 51% sold rule (Rule: Can not apply to a building that is below 51% sold), the only negative to this is that ScottSD will not be a first mover on any new building, and therefore might lose out on either the lower priced units or the more perferable units. This message is not negative towards ScottSD, but keep in mind that because a building is not 51% sold, it does not mean the building should be avoided, on the other hand, its probably a great bargin waiting to be found.

    Since the requirements are strict, Nice units avaiable for those who qualify (ARIA has a required 10% down), this means it will attract serious buyers to the building, which translates to people who can afford what they purchase (not to say that ScottSD cannot), People who have 10% down for their condo translates into a serious buyer (no foreclosures in a year) and well on their way to satifying their PMI Insurance guildline (after you own 20% or more, or market appreciates and you have 20% equity you do not have to Pay PMI monthly), Therefore do not be swayed by stats showing the building is under 51%, or the building is selling 3-5 units a week, or a month. Its a new building in a shaky market. The more risk reaps the higher reward.

    Lastly, first movers to any product, or in this case real estate will reap higher rewards they slow starters. The prices will only come down to a certain point before they start being sold. The builder will not lower the prices below a certain point (which ARIA seems to have reached that point), and therefore, those who wait will have to be sifting through undesirable units that were left behind by the first movers. Dont fall into that category.

    Cethis
    05/29/2008 4:45 PM
    I saw the building, it looks superior, and its better than most of the places I saw. I cant afford the Marina District, and Columbia. Little Italy's choices are few..its either Aperture (350+ HOA and NO ammenities -oh wait an Orange Lobby), La Vita is semi-decent...but places are going for 350 and up that are small...tiny and with a view if you lean over on the balcony. Aqua Vista...no way...no other notable mentions, and East Villiage is going to be nice..some day.

    Cortez Hill is in Downtown, but away from the hustle and bustle...Cortez blu and Discovery are not to my liking, and the monter vantage point is not what I look for (700 units 40 floors and a lottery for parking....if you win its 50k per spot (only 2 bedrooms are considered for the lottery)

    ARIA is the best place in my mind...prices are affordable..quality is top...kitchen, bathroom..modern and chic....I havent seen this quality in my price Range...
















    cbr600f4i2

    --
    24 Jun 2009 04:31 PM
    Cethis, how long have you been working for this condo developer?
    CEE

    --
    24 Jun 2009 06:10 PM
    I do not work for the condo. Glad someone is reading my posting and re-posted them.

    I want to buy in Downtown, but waiting for the best moment (like most of us here) I have been to almost all the building in downtown(with a relator and friends and walk-ins), of course in my price range, and felt that ARIA provided what I was looking for at the price range I am in. A lot of other building cost less but brought less quality. I posted some items I heard from others, and the drawbacks I felt some buildings have which I wanted to share the items in the forum, as this is the main purpose of the fourm. I do not work for ARIA, or do I benfit from posting anything. I like ARIA, I want to hear what others think of ARIA and enjoy the discourse about realestate in the downtown market.

    I am like most, a perspective buyer looking for all and any insight, or information before I make a large investment.


    CEE

    --
    24 Jun 2009 06:10 PM
    Lets not divert the attention - lets talk about realestate not users on this website
    CoastalDweller

    --
    24 Jun 2009 06:36 PM
    Cethis, can you please tell me more about ARIA? I have a lot of money to invest, and am thinking about Downtown real estate, but don't know where to buy. Thanks.
    coastrenter

    --
    24 Jun 2009 09:51 PM
    Cethis: Sorry but there are so many people here who are sitting on property that is down $250,000+ from when they bought it, and are in deep denial. I thought you were one of them.

    My opinion is that San Diego real estate is a horrible investment right now in all nice areas, including downtown.

    I don't know what is so hard for some people to understand about it. The low end areas started falling about a year before the high end areas. It is really like clockwork.

    1. Sales volume dries up.
    2. Prices fall a little.
    3. Defaults skyrocket, prices fall a little bit more_ (This is where the high end areas are now)
    4. The REOs finally hit the market in big numbers and prices plunge
    5. Sales volume rise and prices fall back to normal. (This is where the low end areas are, plus nice but remote areas like Eastlake)

    You are not authorized to post a reply.
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