Green Real Estate Appraiser

Bay Park -Planned complex when trolley extented

Posted on August 16, 2019 | Leave a comment

baypark

Intersection of Clairemont Drive and Morena Blvd.

The proposed residential and retail mid-rise complex that would take over the 3.55-acre parking lot at the intersection of Clairemont Drive and Morena Boulevard in Bay Park represents the future of transit-adjacent housing in San Diego, its developer says.

Wednesday, real estate group Protea Properties pulled back the curtain on Bayview Plaza, a 297,084-square-foot mixed-use project at 2565 Clairemont Drive. The local developer seeks to add 156 mostly market-rate apartments, and 40,000 square feet of retail and restaurant space to the Linda Vista neighborhood that will soon serve as the front porch for the $2 billion Mid-Coast Trolley extension now under construction.

The project, which is being reviewed by city staffers, could open as early as the summer of 2022, and its location overlooking Mission Bay will likely serve as the standout amenity. That’s because, in addition to its coastal vantage point, Bayview Plaza proffers, at least on paper, a live-play-and-ride-transit-to-work lifestyle independent of cars — although resident and transit-rider parking will be available.

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20% of San Diego Listings had price reductions

Posted on August 15, 2019 | Leave a comment

More than 20 percent of homes for sale in the San Diego metropolitan area had a price decrease in June.

Of the 20 biggest metro areas in the nation, San Diego had the sixth most price reductions, said data provided by Zillow. Chicago had the most reductions at 22 percent.

The numbers are down from the end of last year in San Diego metro. In October 2018, 27 percent of home listings had price reductions. Still, recent numbers are a far cry from the start of 2017 when fewer than 8 to 9 percent of listings had a price reduction.

Real estate agents say changing attitudes of sellers and buyers have created a tougher home market for all parties, even though there are still signs of a strong market.

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San Diego’s inflation rate highest in nation

Posted on August 14, 2019 | Leave a comment

The inflation rate for the San Diego metropolitan area was higher than the national average, and most cities, in the first six months of the year, federal statistics released Tuesday show.

From January to June, San Diego metro’s inflation was 2.8 percent in the six month period, higher than the nationwide average of 1.7 percent, said the U.S. Bureau of Labor Statistics’ Consumer Price Index. San Diego had the third-highest inflation rate of the 22 metro areas studied by the bureau.

San Francisco metro had the highest rate at 3.7 percent, followed by 3 percent in the Los Angeles metro area. Detroit and St. Louis had the lowest inflation rates at 0.8 percent in both metros.

Higher inflation rates can be rough for consumers who must pay more for items, because wage increases don’t always correlate. In San Diego metro, the rate was lifted by rising housing costs and motor fuel prices.

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Bay Park -Planned complex when trolley extented

20% of San Diego Listings had price reductions

San Diego’s inflation rate highest in nation

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