Real Estate NewsWhat’s Making Headlines?

Downtown San Diego NeighborhoodsSpotlight On: Little Italy

Love at First BiteSuite & Tender’s Chopped Salad

Downtown San Diego’s Real Estate Report

FEATURED PROPERTY

November 2010

If your home is currently listed, this is not a solicitation for that listing. Produced by UpscaleRealEstateMarketing.com • 877.660.0996

800.588.7382 • www.DowntownSanDiegoProperties.com

HORIZONS CURRENTLY AVAILABLEBed / Bath Est. SF Floor List Price 2 / 3 1,640 TH $749,0002 / 2 1,263 23rd $775,8762 / 2 1,497 19th $892,0004 / 4 2,516 TH $1,395,0003 / 4 2,752 22nd $1,949,000

CONTINGENT2 / 2 2,007 25th $1,125,000

SALE PENDING2 / 2 1,544 16th $925,000

SOLD UNIT SOLD PRICE1 / 1 897 202 $350,0001 / 2 1,249 207 $369,9002 / 2 1,301 302 $430,0002 / 2 1,263 2001 $575,0002 / 2 1,245 1005 $610,000

PARK PLACE CURRENTLY AVAILABLEBed / Bath Est. SF Floor List Price 1 / 2 1,113 TH $460,0001 / 2 1,268 25th $555,0002 / 2 1,545 3rd $649,9002 / 2 1,338 5th $650,0002 / 2 1,252 5th $725,0002 / 2 1,374 13th $1,045,000

CONTINGENT2 / 2 1,575 4th $640,000

SALE PENDING2 / 2 1,375 TH $485,0002 / 2 1,545 5th $595,0003 / 4 1,776 TH $699,000

SOLD UNIT SOLD PRICE1 / 2 1,113 408 $410,000

CURRENT REAL ESTATE ACTIVITY IN HORIZONS & PARK PLACE

ARG-Abbott Realty Group435 4th Ave. • San Diego, CA 92101

All information is deemed reliable but not guaranteed. The properties on this list have been listed/sold by various participants in the MLS.

SANDRA MELVILLERealtor, CRS, GRISandra@ MelvilleAndAssociates.com

619.454.5464

85026PERMIT 1441

Trellis | Unit 2101 Bed | 1 Bath 725 Sq. Ft.$279,900Trellis is located in the heart of the

Gaslamp District. This unit opens out to a large patio with views of the private courtyard. Granite counters, stainless-steel appliances and a large pantry round out the comfortable kitchen. Tiled floors at entry, kitchen and bathroom. Full-size, stacked washer and dryer. Controlled entry access, workout room, covered parking and community BBQ. Fantastic downtown living!

The Sky TonightRueben H. Fleet Science Center, November 3rd619.238.1233 | RHFleet.orgVisit California’s largest planetarium during their monthly live show, featuring the largest planet in the solar system – Jupiter. Audience members can also explore interesting objects in the sky such as supernovas and black holes. Afterwards, check out the solar system on your own with the free telescope viewings outside, provided by the San Diego Astronomy Association.

Susan G. Koman Race for the CureBalboa Park, November 7th858.573.2760 | KomenSanDiego.orgJoin in the fight against breast cancer with the largest 5K event in San Diego. As a runner/walker, you’ll be part of a vast group of those in support of finding a cure for this disease. You may sign up to run in memoriam of a lost loved one, or in celebration of a brave survivor. Before and after the race, enjoy the multitude of booths and exhibits that will have information, freebies and goodies.

So You Think You Can Dance TourSan Diego Sports Arena, November 13th619.224.4171 | SanDiegoArena.comYou watched your favorite dancers on TV, now is your chance to see them perform live! The top 10 contestants are on tour including this season’s winner, Russell. Whether you are a dancer yourself or perhaps just a dancer at heart, you’ll enjoy the music, rhythms, choreography, costuming and all-around entertainment!

San Diego Wine and Food FestivalVarious Locations, November 17th – 21st619.342.7337 | WorldOfWineEvents.comThis culinary extravaganza is sure to tantalize any participant’s taste buds. All week long check out some of the great culinary events including the Celebrity Chef Luncheon and Big Bottle Auction. Featuring 15 celebrity winemakers and celebrity chefs, the proceeds will benefit The American Institute of Wine & Food’s Culinary and Enology Scholarship program.

Wild West Presents: Vince Vaughn and Kevin James Comedy RoadshowBalboa Theatre, November 18th619.570.1100 | SanDiegoTheatres.orgKnown for their roles in films Wedding Crashers and Hitch, Vince Vaughn and Kevin James are considered two of the top comedians today. These two are sure to keep the audience laughing with their live sketch comedy and surprise special guests. San Diego is lucky to be one of just 14 stops on this comedy roadshow!

NOVEMBER 2010

CHOPPED SALADBoston bibb lettuce, teardrop tomatoes, maple bacon,

chives, chervil and bleu cheese crumbles tossed with bleu cheese vinaigrette.

Featuring Suite & Tender1047 5th Ave.

619.515.3003 | SuiteAndTender.com

INGREDIENTS

3 oz. bibb lettuce

3 each yellow & red teardrop tomatoes (cut in half)

1 oz. maple bacon, cooked

1 oz. crumbled blue cheese

chervil & chives as garnish

2 oz. bleu cheese vinaigrette (see recipe below)

METHOD

Toss all ingredients except chervil and chives together

until well coated with dressing. Serve on a chilled plate.

Finish with chervil and chives garnish.

BLUE CHEESE VINAIGRETTE

1/3 cup white balsamic vinegar

1/3 cup olive oil blend

2 scallion stalks, diced fine

2 Tbs. bleu cheese (Maytag or Roquefort Bleu)

Season with salt & pepper

One of downtown San Diego’s neighborhoods

filled with culture, charm and a sense of

community is the Little Italy neighborhood at the

northern edge of San Diego Bay. Once the place

of industry for fisherman and the home of many

Italian families that fished the waters, Little Italy

today is now a village teeming with specialty

shops, dining, art galleries and more. Hanging

proudly over India Street, is the recognizable Little

Italy sign that residents and tourists alike enjoy as

a delightful accent to the area’s landscape.

Amici Park, lined with cypress trees and featuring

a bocce ball court, adjoins the rebuilt Washington

Elementary School, providing a playground for

students and open space for the community.

The neighborhood also hosts a variety of annual

arts and holiday festivals, including ArtWalk and

Festa.

In addition to the recreational opportunities,

Little Italy also offers plenty of options in living

including condominiums, apartment complexes

and single-family homes.

A handful of new condominium projects are

planned for the area. India & Beech, with a

planned height of 29 stories and 50 residential units

with one, two and

three bedroom

floorplans, is also

expected to have

nearly 10% of the

building space

dedicated to retail

space.

Another smaller

condominium

development with

plans for just 40

units is the Riva

Trigoso, designed

by Martinez + Cutri

architects. With 50,000 square feet dedicated to

residential and 11,000 planned for office space,

it may be a good option for a live/work lifestyle.

Pier, a larger development with 247 units, will

offer studio, one and two bedroom floorplans. An

estimated completion date for these three

developments hasn’t been announced yet.

In addition to housing, two other projects are

planned for the Little Italy neighborhood. Monarch

School, an educational facility, and Waterfront

Park. The park is a visionary plan to transform the

parking lots near the County Administration Center

into a lushly landscaped area filled with trees, grass

and a fountain.

Spotlight: LITTLE ITALY

MORTGAGE PAYMENT RELIEF FOR ELIGIBLE MILITARY To aid and support military families struggling because of a death or injury of a service member, mortgage giant Fannie Mae has announced a program to give these families a reprieve on their mortgage payments.

Fannie Mae says it will reduce or suspend the mortgage payment for up to six months. They also announced that they will suspend reporting to credit bureaus for up to six months in an effort to minimize the impact of the borrower’s credit score. Fannie Mae is the largest buyer of our nation’s residential mortgages. It’s estimated that they own, or are guaranteeing, over $3 trillion in home loans. To learn if they’re eligible for the program, military members or surviving spouses can call 877.645.4566.

MAKING REAL ESTATE HEADLINES: RESALE FEES A bill has been introduced called the “Home Equity Protection Act of 2010.” In it, is language seeking to amend the Real Estate Settlement Procedures Act (RESPA) currently in place by prohibiting the collection of Resale Fees.Many condo and high-rise developments add a Resale Fee into the sales contract. Typically, it’s a fee that’s due from the seller to the HOA when the homeowner sells. Funds to the HOA are used for common-area maintenance or for the association’s reserve fund – either one benefitting the HOA and thus the property value. However, there are some new developers that are adding in a Resale Fee, typically calculated as 1% of the sales price, every time the house is sold. Often for up to 99 years. The problem is, this new Resale Fee isn’t used by the HOA for upkeep or improvements. It’s simply money paid to the developer to boost their revenues for years to come.In addition to the Home Equity Protection Act of 2010, the

Federal Housing Finance Agency is also working to stop the use of such Resale Fees. In their proposal, they outline a plan to keep Fannie Mae and Freddie Mac, the two largest mortgage companies, from insuring or purchasing mortgages that include such fees. If you’re considering buying or selling, be sure to talk with your REALTOR and learn if Resale Fees, and who they benefit, will be an issue for you.

FORECLOSURE BILL VETO President Obama plans to veto a bill using a process known as a “pocket veto.” This will be the first veto of his administration. The veto of the bill is intended to make it harder for banks to foreclose on homeowners, giving borrowers an opportunity and more time to work out their loan default issues. In recent weeks, it was learned that several of the nation’s largest mortgage-lending firms such as Bank of America and J.P. Mortgage Chase, may have wrongly and illegally foreclosed on tens of thousands of properties in recent months. Many of these banks have since frozen all foreclosure proceedings until further review can be made. “We believe it is necessary to have further deliberations about the intended and unintended impact of this bill on consumer protections, including those for mortgages, before this bill can be finalized,” White House communications director Dan Pfeiffer remarked.

The Sky TonightRueben H. Fleet Science Center, November 3rd619.238.1233 | RHFleet.orgVisit California’s largest planetarium during their monthly live show, featuring the largest planet in the solar system – Jupiter. Audience members can also explore interesting objects in the sky such as supernovas and black holes. Afterwards, check out the solar system on your own with the free telescope viewings outside, provided by the San Diego Astronomy Association.

Susan G. Koman Race for the CureBalboa Park, November 7th858.573.2760 | KomenSanDiego.orgJoin in the fight against breast cancer with the largest 5K event in San Diego. As a runner/walker, you’ll be part of a vast group of those in support of finding a cure for this disease. You may sign up to run in memoriam of a lost loved one, or in celebration of a brave survivor. Before and after the race, enjoy the multitude of booths and exhibits that will have information, freebies and goodies.

So You Think You Can Dance TourSan Diego Sports Arena, November 13th619.224.4171 | SanDiegoArena.comYou watched your favorite dancers on TV, now is your chance to see them perform live! The top 10 contestants are on tour including this season’s winner, Russell. Whether you are a dancer yourself or perhaps just a dancer at heart, you’ll enjoy the music, rhythms, choreography, costuming and all-around entertainment!

San Diego Wine and Food FestivalVarious Locations, November 17th – 21st619.342.7337 | WorldOfWineEvents.comThis culinary extravaganza is sure to tantalize any participant’s taste buds. All week long check out some of the great culinary events including the Celebrity Chef Luncheon and Big Bottle Auction. Featuring 15 celebrity winemakers and celebrity chefs, the proceeds will benefit The American Institute of Wine & Food’s Culinary and Enology Scholarship program.

Wild West Presents: Vince Vaughn and Kevin James Comedy RoadshowBalboa Theatre, November 18th619.570.1100 | SanDiegoTheatres.orgKnown for their roles in films Wedding Crashers and Hitch, Vince Vaughn and Kevin James are considered two of the top comedians today. These two are sure to keep the audience laughing with their live sketch comedy and surprise special guests. San Diego is lucky to be one of just 14 stops on this comedy roadshow!

NOVEMBER 2010

CHOPPED SALADBoston bibb lettuce, teardrop tomatoes, maple bacon,

chives, chervil and bleu cheese crumbles tossed with bleu cheese vinaigrette.

Featuring Suite & Tender1047 5th Ave.

619.515.3003 | SuiteAndTender.com

INGREDIENTS

3 oz. bibb lettuce

3 each yellow & red teardrop tomatoes (cut in half)

1 oz. maple bacon, cooked

1 oz. crumbled blue cheese

chervil & chives as garnish

2 oz. bleu cheese vinaigrette (see recipe below)

METHOD

Toss all ingredients except chervil and chives together

until well coated with dressing. Serve on a chilled plate.

Finish with chervil and chives garnish.

BLUE CHEESE VINAIGRETTE

1/3 cup white balsamic vinegar

1/3 cup olive oil blend

2 scallion stalks, diced fine

2 Tbs. bleu cheese (Maytag or Roquefort Bleu)

Season with salt & pepper

One of downtown San Diego’s neighborhoods

filled with culture, charm and a sense of

community is the Little Italy neighborhood at the

northern edge of San Diego Bay. Once the place

of industry for fisherman and the home of many

Italian families that fished the waters, Little Italy

today is now a village teeming with specialty

shops, dining, art galleries and more. Hanging

proudly over India Street, is the recognizable Little

Italy sign that residents and tourists alike enjoy as

a delightful accent to the area’s landscape.

Amici Park, lined with cypress trees and featuring

a bocce ball court, adjoins the rebuilt Washington

Elementary School, providing a playground for

students and open space for the community.

The neighborhood also hosts a variety of annual

arts and holiday festivals, including ArtWalk and

Festa.

In addition to the recreational opportunities,

Little Italy also offers plenty of options in living

including condominiums, apartment complexes

and single-family homes.

A handful of new condominium projects are

planned for the area. India & Beech, with a

planned height of 29 stories and 50 residential units

with one, two and

three bedroom

floorplans, is also

expected to have

nearly 10% of the

building space

dedicated to retail

space.

Another smaller

condominium

development with

plans for just 40

units is the Riva

Trigoso, designed

by Martinez + Cutri

architects. With 50,000 square feet dedicated to

residential and 11,000 planned for office space,

it may be a good option for a live/work lifestyle.

Pier, a larger development with 247 units, will

offer studio, one and two bedroom floorplans. An

estimated completion date for these three

developments hasn’t been announced yet.

In addition to housing, two other projects are

planned for the Little Italy neighborhood. Monarch

School, an educational facility, and Waterfront

Park. The park is a visionary plan to transform the

parking lots near the County Administration Center

into a lushly landscaped area filled with trees, grass

and a fountain.

Spotlight: LITTLE ITALY

MORTGAGE PAYMENT RELIEF FOR ELIGIBLE MILITARY To aid and support military families struggling because of a death or injury of a service member, mortgage giant Fannie Mae has announced a program to give these families a reprieve on their mortgage payments.

Fannie Mae says it will reduce or suspend the mortgage payment for up to six months. They also announced that they will suspend reporting to credit bureaus for up to six months in an effort to minimize the impact of the borrower’s credit score. Fannie Mae is the largest buyer of our nation’s residential mortgages. It’s estimated that they own, or are guaranteeing, over $3 trillion in home loans. To learn if they’re eligible for the program, military members or surviving spouses can call 877.645.4566.

MAKING REAL ESTATE HEADLINES: RESALE FEES A bill has been introduced called the “Home Equity Protection Act of 2010.” In it, is language seeking to amend the Real Estate Settlement Procedures Act (RESPA) currently in place by prohibiting the collection of Resale Fees.Many condo and high-rise developments add a Resale Fee into the sales contract. Typically, it’s a fee that’s due from the seller to the HOA when the homeowner sells. Funds to the HOA are used for common-area maintenance or for the association’s reserve fund – either one benefitting the HOA and thus the property value. However, there are some new developers that are adding in a Resale Fee, typically calculated as 1% of the sales price, every time the house is sold. Often for up to 99 years. The problem is, this new Resale Fee isn’t used by the HOA for upkeep or improvements. It’s simply money paid to the developer to boost their revenues for years to come.In addition to the Home Equity Protection Act of 2010, the

Federal Housing Finance Agency is also working to stop the use of such Resale Fees. In their proposal, they outline a plan to keep Fannie Mae and Freddie Mac, the two largest mortgage companies, from insuring or purchasing mortgages that include such fees. If you’re considering buying or selling, be sure to talk with your REALTOR and learn if Resale Fees, and who they benefit, will be an issue for you.

FORECLOSURE BILL VETO President Obama plans to veto a bill using a process known as a “pocket veto.” This will be the first veto of his administration. The veto of the bill is intended to make it harder for banks to foreclose on homeowners, giving borrowers an opportunity and more time to work out their loan default issues. In recent weeks, it was learned that several of the nation’s largest mortgage-lending firms such as Bank of America and J.P. Mortgage Chase, may have wrongly and illegally foreclosed on tens of thousands of properties in recent months. Many of these banks have since frozen all foreclosure proceedings until further review can be made. “We believe it is necessary to have further deliberations about the intended and unintended impact of this bill on consumer protections, including those for mortgages, before this bill can be finalized,” White House communications director Dan Pfeiffer remarked.

Real Estate NewsWhat’s Making Headlines?

Downtown San Diego NeighborhoodsSpotlight On: Little Italy

Love at First BiteSuite & Tender’s Chopped Salad

Downtown San Diego’s Real Estate Report

FEATURED PROPERTY

November 2010

If your home is currently listed, this is not a solicitation for that listing. Produced by UpscaleRealEstateMarketing.com • 877.660.0996

800.588.7382 • www.DowntownSanDiegoProperties.com

HORIZONS CURRENTLY AVAILABLEBed / Bath Est. SF Floor List Price 2 / 3 1,640 TH $749,0002 / 2 1,263 23rd $775,8762 / 2 1,497 19th $892,0004 / 4 2,516 TH $1,395,0003 / 4 2,752 22nd $1,949,000

CONTINGENT2 / 2 2,007 25th $1,125,000

SALE PENDING2 / 2 1,544 16th $925,000

SOLD UNIT SOLD PRICE1 / 1 897 202 $350,0001 / 2 1,249 207 $369,9002 / 2 1,301 302 $430,0002 / 2 1,263 2001 $575,0002 / 2 1,245 1005 $610,000

PARK PLACE CURRENTLY AVAILABLEBed / Bath Est. SF Floor List Price 1 / 2 1,113 TH $460,0001 / 2 1,268 25th $555,0002 / 2 1,545 3rd $649,9002 / 2 1,338 5th $650,0002 / 2 1,252 5th $725,0002 / 2 1,374 13th $1,045,000

CONTINGENT2 / 2 1,575 4th $640,000

SALE PENDING2 / 2 1,375 TH $485,0002 / 2 1,545 5th $595,0003 / 4 1,776 TH $699,000

SOLD UNIT SOLD PRICE1 / 2 1,113 408 $410,000

CURRENT REAL ESTATE ACTIVITY IN HORIZONS & PARK PLACE

ARG-Abbott Realty Group435 4th Ave. • San Diego, CA 92101

All information is deemed reliable but not guaranteed. The properties on this list have been listed/sold by various participants in the MLS.

SANDRA MELVILLERealtor, CRS, GRISandra@ MelvilleAndAssociates.com

619.454.5464

85026PERMIT 1441

Trellis | Unit 2101 Bed | 1 Bath 725 Sq. Ft.$279,900Trellis is located in the heart of the

Gaslamp District. This unit opens out to a large patio with views of the private courtyard. Granite counters, stainless-steel appliances and a large pantry round out the comfortable kitchen. Tiled floors at entry, kitchen and bathroom. Full-size, stacked washer and dryer. Controlled entry access, workout room, covered parking and community BBQ. Fantastic downtown living!