La Jolla could have the pay parking done away with. This would be great news for surfers and beach goers. La Jolla beaches should be kept open to the public.
I can only imagine what the old Mac Meda Destruction crew would do to parking meters along Windansea...
Maybe Tom Wolfe will have to revise the Pumphouse Gang...

Along with La Jolla, one of the hottest spots for real estate and exceptional living is the heart of San Diego - Downtown. After peaking in 2006, Downtown prices have softened through 2007 leaving 2008 as a great time to find affordable living in the urban oasis.
At the same time as prices become more attractive, for those that are not as concerned with cost, Downtown is being infused with uber luxurious high rise living. Sapphire and Bayside join the Grande in the Columbia District, while buidings like Pinnacle and Harbor Club offer high end living in the Marina District.
Downtown San Diego's East Village - the largest of the Downtown villages, is undergoing a second, post ballpark phase of its renaissance. While there are some spectacular new units still available, the commercial space is finally filling making this a real community.

The real estate market is showing signs of life. Well priced properties are seeing multiple offers - listings in areas with high inventory levels. Of course the test will come as 100% financing goes away.
2006 was a tough year for real estate. Rising interest rates scared off some buyers - to the point that many investors got worried and put non-owner occupied property for sale. As buying activity went down and inventory levels went up, we saw softening in the form of long market times and higher levels of expired listings. Sellers adjusted list prices and offered incentives, some investor/ sellers pulled listings off the market all together. 2007 showed signs of benefitting from falling inventory.
Now the condo market will have to weather another storm. Just as soon as the "appreciation" word came back into our vernacular, the financing that made up apprximately 12% of all loans is gone.
Seller assisted financing will certainly play a growing role, as anyone with equity in their home will have an advantage by being able to offer a buyer an affordable rate on a second.
The good news is that the "test" is happening at the right time. While demand increases seasonally, the market will be better able to sustain and react to the tighter lending guidelines.

The subprime fallout is sending ripples through the housing market. The worst has yet to be determined - only time will tell. The question is, what effect will this have on the housing prices?
It is very likely 100% financing will be gone altogether in the coming months. Subprime borrowers will need to come in with 10% down and alt-a borrowers - those that are not considered prime borrowers but not as risky as subprime, will be required to come in with 5% down. Purchasing power of first time, subprime borrowers will be reduced. With too many condos still on the market, there will be added price competition. Seller assisted financing, FHA and VA will become players again. Look for modest price decreases in the over saturated entry level condo markets.
As long term interest rates remain very favorable, prime borrowers in entry level markets (not many) and move up buyers, sellers of homes at and above the median home price will not see dramatic effects. Competition in the mortgage market to service prime borrowers willl get fierce. Good credit and money in the bank = great time to buy real estate. Don't look for price reductions in the higher prices and luxury markets like the La Jolla homes market.
Ultimately, banks selling less risky loans will be a good thing for the market. Ridiculus rates of appreciation made 100% loans a viable option for lenders and borrowers alike. Mortgage banks are in trouble because they kept selling these loans as inventory piled up and short term rates on adjustables rose. Without the appreciation, borrowers were put in homes they simply could not afford. They were set up to default. Tighter lending guidelines are putting an end to this as we speak.
We are in for a ripple through the entry level market. Already softening markets like East County won't be helped, but should survive.

As mentioned in a previous post, Nuvilla Real Estate has had it's initial site launch. The La Jolla section is now up with content highlighting our community. All the 92037 listings, both condo and single family home, populate the main page for easy access for home shoppers. Resource guides are coming in the next phase of development which is set to include local school information, dining and entertianment, recreation and emergency service information.
Keep checking back, as development has gone quick. Help friends and family with their La Jolla relocation by forwarding the site La Jolla real estate to them.

Nuvilla Real Estate expects to launch their site this week - a much anticpated event. The company whose philsophy is summed up as "High Tech, High Touch", should receive raving reviews from home buyers and sellers that come across the site.
Nuvilla will serve all San Diego Real Estate.
The site is a landmark in the industry in that a company has designed and built a site around the concept of providing useful information to the consumer, as opposed to a site built for the purpose of self-promotion. For relocating buyers, the in depth community profiles make it easy to compare and contrast the very unique regions that make up San Diego. Nuvilla provides guides for area schools, dining, entertainment and even surfing so that prospective residents can acquaint themselves with the area and find the right home for them on the same web page.
"It is important for the buyer to make informed decisions. That certainly applies to the early stages of the home buyeing process - stages such as choosing the right community for them" says Cleve Shirley, a long time San Diego Realtor and the broker/ owner of Nuvilla.
With a strong presence online, Nuvilla will offer a tremendous advantage to home sellers that are having a hard time moving thier property in this buyer friendly market. "Our site is easy to find on search engines" Cleve adds. "My partners operated a boutique SEO and online marketing firm. The industry has changed so drastically - it is absolutely essential to reach out to the new consumer. Estimates are as high as 95% of homebuyers are using the internet to assist in the home buying process. To best serve our seller, we must be able to connect our sellers with prospective buyers. The marketing is really the only thing the agent has control over in the transaction. The seller ulimately decides on list price, the condition they keep the home in and the market decides the rest. There are astonishingly very few agents and companies with effective online marketing".
Nuvilla Real Estate will have an official launch before summer 2007.
Cleve Shirley can be reached at 619.437.4708 or at cleve@nuvilla.com.

Check out this blog if you are looking for Jamul CA real estate - a great home for sale near Downtown Jamul. 3 bedrooms and 2.5 baths just over 2,000 square feet. Priced at 679,900, this home is a nice opportunity to get in below market. Jamul is a quiet, rural town with country charm just east of El Cajon in San Diego, CA.

Affordable home for sale in La Jolla. Walk to the beach, close to shopping and schools.

$1,095,000 gets you 1423 square feet - around $770 a square foot - very good for the area.

Check out this La Jolla home for sale.

La Jolla and San Diego's other high end and coastal communities have remained strong despite a slow down in overall sales and rising inventory. This is a good opportunity to lock in a great property while interest rates are low.