Hear some of the important insights on local real estate trends on a macro and micro level. Hat tip Tom T!
12:05-mark: Alan mentions that there are 35 new-home tracts in Otay Ranch, and at the end of the year there were only three homes for sale.
12:35: Biggest surprise – he could have never imagined how the prices of apartment sales have jumped. There has only been a small handful of other markets in the nation who have experienced the kind of upside that we’ve seen here in San Diego.
14:05: San Diego seems to be the darling of the national investment community, even though we are among the 4th or 5th most expensive apartments in the nation.
The average age of a San Diego apartment is 43 years old.
He has a client who just built 12 units in North Park, and his cost was $500,000 per unit.
If he had one wish, what would it be? Get rid of community planning groups.