Pinnacle Condos in Downtown San Diego - All its hyped up to be?

Those following the condominium market in downtown San Diego for the past two years you have undoubtedly heard of the Pinnacle condominium project and the desire of many to live there. Why all the hype to buy in the pinnacle. Many residents that were able to buy a unit directly from the developer did so because of expected quality and tall height making it a flagship for time to come.

The builder of the Pinnacle, Pinnacle International, based out of Canada has never built a condo building in San Diego before. Many residents based their decision to buy based on the high end finishes in the model (built in the sales office) and the expected water views.

As the Pinnacle come to fruition, with move in scheduled to be in a couple weeks, some of that hype is coming down to reality as buyers on their walk-thru's are starting to realize that this is just another condo with its pluses and minuses. Plus are the views, high ceilings, and kitchens. Minuses are the size of the bedrooms, lack of closet doors in the master bedroom, and though it's a little early to make a final opinion, the hallway carpet color and pattern along with the location of the lobby mailboxes have drawn some complaints.

So now the big question, prices, while no one has closed escrow yet its expected there are a fair number (ie 10% = 20 units) will soon be available for those who missed buying directly from the builder. However, the builder does have a few select high end units for sale that for various odd reasons were turned back to the builder. One must have deep pockets and no apprehension to acquire one of these units many of which are at record high prices per square foot for downtown. Whoever buys one of the remaining units from the developer will have bragging rights for paying top dollar for a condo for the next couple of years.

Though speculators are greedy, most are savy enough to know fair market values and potential appraisal issues that could result from asking too much. The end of the year is near and the Pinnacle hype will either continue as units remain rare or sell for top dollar or it will become just another high rise in the mix of downtown condos.

Keep an eye on my website http://www.LiveAtTheTop.com for future units available for sale and at least 20 photos of buildings amenities and interiors. In about a year from now the Pinnacle residents will be surveyed and asked to rate the property and offer their review of pros and cons.

Immediate questions may be addressed to Mark Mills, Realtor, RE/MAX (619) 606-2596