SALES ACTIVITIES AT THE CORONADO SHORES

Some years can have markers that set them apart from others. This year
was definitely a year that will stand out in my mind for many reasons.
The start of 2016 had more activity during the first quarter than the
previous year. This year we saw more demand, which could have been
from a pent-up demand due to three years of very low inventory. We
are seeing a younger buyer. These buyers are positioning themselves
for a completely different lifestyle contemplating their retirement.
Along with the buyers, weekend visitors in Coronado haven’t slowed
down. The streets continue to overflow with day trippers. It is the
perfect place to get out of the city of San Diego and the surrounding
areas and spend a day or two here. They only wish that they could
afford to buy here.

When the summer months hit, the sun worshipers were spread across
the beach towel to towel on the weekends. Orange Avenue was
bumper to hood to bumper, which made it difficult for pedestrians to
reach their favorite restaurant or watering hole. A must visit was to
the newly remodeled Brigantine for lunch or dinner. There seemed
to be a pent-up demand for everything Coronado. In speaking with
a restaurant owner and a woman’s high end store owner, they said it
was the strangest summer on record for them. The restaurateur who
owns four eating establishments said it was “weird”. That was the best
word he could come up with. Their July and August numbers were
down. Lots of visitors and locals but not enough people spending.
We found that to be the same at The Shores for the month of August.
Lots of lookers at property, but reluctant to make an offer. Our rental
department had the same remarks. We had a full house for July and few
unrented properties for August, but the office was very quiet. Speaking
with several building managers, they said the same thing, “it was a very
easy summer”. The tenants weren’t calling about small things, parking
issues or the overcrowded pool, they were happy or just complacent.
That word complacent just might be what we experience this year and
maybe everyone was holding their breath until the election was over.
Our sales office activity picked up after August and the demand for
ownership at Coronado Shores started back in September and hasn’t
let up yet. We will end the year of 2016 with strong sales and happy
clients. The following units have closed since my last View.

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