It also has a lot of history: the original structure was an earthquake shelter built in 1906.  

And to be fair that did happen in 1989 with the Loma Prieta Earthquake and the first iraq war... property values in many parts of the SF bay area dropped 20 to 50% in the coming years but came back in 3 to 5 years and made new highs and has continued to do so.. 

If the "act of god" denial is wrong  (I question it because normally that refers to damage caused by a sudden change in natural conditions ie. flood, earthquake, etc.) you may have some recourse through your state Insurance dept.  3. review your condo bylaws. 

What if there’s an earthquake?

@Scott Meyers  thanks Scott was just wondering if you were locking into some specific stat.being CA native its about on cue that every 10 years or the market does a swoon.. then comes roaring back.I look at my business life in CA.. mid to late 70s recession  with the war ending.mid 80s interest rates at 20% plus SL melt downfor us late 80s was induced by Earthquake and the war in Iraqthen dot com bubble burst.. but that was short lived.then the Mother of them all the GFCSo when I think of these that personally affected me and my business they all had different trigger points.With a lot of it simply being media and consumer confidence and people following the herd.

I spent the last 12 years in the mission field in Haiti, were getting ready to move back to California to retire and had very little funds for retirement. 

Doesn't San Diego have earthquakes and canyon fires and pollution from Fukishima and traffic and taxes and crows?

@Brenda Kinney all houses in CA are considered to be sold as is, they only legally need to have Earthquake straps around the water heater and carbon monoxide detectors in bedrooms.

Because back in 1983 that sounded like a long way off and if some big earthquake hit, they'd all look brilliant, but if it didn't, maybe nobody would remember.

It is not like everything would break down all at the same time tomorrow (Well, hopefully not... unless there is an earthquake or something like that).