Oh, Bawldguy …

Jonathan Dalton, Phoenix Real Estate AgentToday’s Arizona Republic says this may be a great time to buy in San Diego because of the “condo-market meltdown.” Like we can’t find one of those in our downtown at a fraction of the cost.

Mr. Brown, feel free to hijack the blog in your almost certain to follow comments about the merits of the article.

And folks, if you’re actually debating whether to listen to Jeff – one of the best real estate investment minds around – or the Republic, please shut off your computers before you hurt yourself.

[tags]San Diego real estate, real estate investment[/tags]

Jonathan Dalton

Jonathan Dalton is a 40-plus-year resident of the Valley and has been helping folks buy and sell homes since 2004. He can be reached at 602-502-9693 or info at allphoenixrealestate.com.

0 Comments

  • Jeff Brown 10 years ago

    Sorry for the delay, The Boss finally stopped laughing at your generous description of my investment mind. If you’ve ever wondered how I remain absolutely grounded, it’s called ‘marriage’. 🙂

    Where to start… 🙂

    How ’bout the last quote in the piece —

    “People are positioning themselves for the next boom.” Wow, the ‘next’ boom. How long can YOU hold your breath.

    If you’re ‘investing’ in San Diego it’s my belief you’re better off reconsidering. More plainly said, DON’T DO IT!

    Second homes and primary residences however are a totally different story.

    Regardless of the ‘next boom’ crowd, downtown will probably be a 10 year hold. My sister and her husband live in the Carlsbad/La Costa area, and about a year ago bought a downtown condo. It’s a getaway for them, nothing else. They can see Petco Park from their building, even the field.

    I’m even thinking about buying a studio near Petco purely out of convenience. For less than $200K I have a ‘guest’ condo, a business ‘loaner’ and a place to stay when we decide to party hearty in the Gaslamp. Works for me.

    But investing? I’ll end with what I tell San Diego real estate investors through my blog 4-6 times yearly.

    Get Outa Dodge now!

    Wanna buy a downtown condo? As long as you have the very long term in mind, and your primary agenda isn’t capital growth or cash flow for that mattter, go for it. You’ll love the area, and as the article says, people will always want to live here. The question is can they (you?) afford it.

    The answer for most is a resounding no.

  • Jonathan Dalton 10 years ago

    As good as expected, my friend …

  • Denny Oh 10 years ago

    Great post…As a San Diego realtor who focuses on Downtown, I have mixed feelings. I agree, there’s no “boom” in the near future. With that said, I do think you can find some great deals(keep in mind that this is still San Diego and a great deal doesn’t mean a $200K penthouse. It’s all relative.

    I tell my clients that they should look at a 5 year investment to be safe – ideally longer. I don’t think prices are really dropping anymore, but they definitely have in over the last 2-3 years.

    Honestly, it depends a lot on which building you’re talking about..that’s why you need to make sure you work with someone who knows what they’re talking about.

    I guess we’ll all have to wait and see.
    For now, here are some deals that I think are worth looking at…

    http://www.sandiegoh.com/2008/02/08/great-condo-deals-in-downtown-san-diego/

  • Jeff Brown 10 years ago

    I’d be listening to Denny when it comes to the downtown condo market. He’s the Man there, at least in my opinion.

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