6. April 2012 12:23
Opening day at Petco Park for the San Diego Padres triggers many events in motion. Even with a loss yesterday against the Dodgers, the mood remains the same: Upbeat, Hopeful, Competitive, Youthful. It is just now Spring, but with major league baseball back in town, it feels like summer already. In 2004, when Petco first opened, downtown San Diego was experiencing a renaissance in the real estate market as thousands of brand new condos were being delivered. You had the feeling that living downtown was the future, where everything about you was fun and new and it was all walkable and innovative. Opening day 2012 signals a different kind of start than 2004, this time around it’s more cautious but upbeat still. Our real estate has changed – fewer units for sale & not a single new residential building under construction – it is likely this downtown market will be a seller’s market again, sooner than we think. Record low interest rates combined with the strong spring/summer sales will impact new inventory as it comes to market. If you are going to a Padres game this season, give me a call and I’ll set up a condo tour.