Living in Paradise

Sometimes, when you live and work in a gorgeous vacation destination like Del Mar California, you find that you don’t often get a chance to take advantage of the many attractions the area has to offer - you’re too busy living life!

A weekend getaway at The Lodge at Torrey Pines in La Jolla CA

This past weekend, I had the opportunity to play “tourist”.  A friend (who also happens to be my hairdresser and the owner of Do’s and Lipstick, an upscale salon located in the design district on Cedros in Solana Beach CA) mentioned he had a connection at The Lodge at Torrey Pines.  He had arranged through her to have a weekend getaway at the Lodge at a phenomenal rate, but was going to have to cancel - instead of letting it go to waste, the sweetheart that he is, transferred the reservation to my husband and me!

A perfect place to stay while looking at Del Mar CA homes

What an exquisite place!  Situated adjacent to the world renowned Torrey Pines Golf Course on the ocean bluffs in La Jolla, just a mile and a half from Del Mar CA, this craftsman style resort offers spectacular golf course views, majestic ocean vistas and fresh sea breezes.  For those of you exploring the possibility of purchasing a second home here in Del Mar CA or La Jolla CA, or perhaps those who might want to relocate to this neck of the woods, I can’t think of a more idyllic spot to stay while looking at Del Mar CA real estate.

Give me a call - I’ll help you negotiate the best price for your very own piece of paradise!

High activity in the low end of North San Diego County

Those of us living and working in higher end North San Diego County markets like Del Mar CA have been watching other areas of the county bottom out and, in fact, become hot markets.  Many lower priced neighborhoods have had large numbers of short sales and REOs, and buyers have taken advantage of this great opportunity to buy at hugely discounted rates.  This increased activity had led to multiple offers and overbids.

In contrast, almost no activity in Del Mar CA… until recently!

Not so with Del Mar CA homes, Solana Beach CA property and other higher priced neighborhoods. Until recently, listings simply weren’t moving.  Del Mar prices were steadily declining until the end of last year.  Well, chin up, Del Martians!  Property, at least Del Mar CA property, is finally beginning to sell!

Del Mar CA is heating up!

Comparing the number of new listings with the number of new sales in any given month since the beginning of 2009, the ratios are finally showing improvement. Back in January, there were 34 listing new Del Mar detached home listings, while only 7 listings went into escrow during that same period.  This imbalance leads to increased inventory and declining prices.  In contrast, 30 detached Del Mar CA homes were listed in May, and 19 listings went into escrow! 

Here’s the data for the first 5 months of 2009.  The graph shows the ratio of new listings/new sales.  A smaller number means the inventory is decreasing:

Del Mar CA home sales

At a ratio of 1.6 new listings per new sale for the month of May, we are actually approaching a healthy balance, and, if this keeps up, prices will start to creep back up.

Another view, looking at the last 12 months, shows the steadily increasing number of new escrows since its lowest point in Ocober of 2008:

Del Mar CA home sales vs new listings

If you’re interested in relocating to Del Mar or in investing in Del Mar CA real estate, please give us a call (760-815-1318) soon or visit our website DreamHomesByTheBeach.com.  Don’t let this opportunity pass you by!

Our local coastal community of Encinitas, CA has become host to a new annual film festival dedicated to featuring the most innovative and inspiring films regarding environmental issues, nature and the ocean.  The mission of the Cottonwood Creek Environmental Film Festival (CCEFF) is to use film to bring awareness and inspire positive action on behalf of the environment and encourage stewardship of the planet.  A noble and worthy cause!

It is no surprise this festival was born and conceived here in our very own Encinitas, CA, a lovely coastal town that boasts world class surfing, a thriving artist community, breathtaking seascapes, the nationally renowned Quail Botanical Gardens, and a historic and walkable downtown community.

The event takes place June 5th through Jun7th at La Paloma Theater and other locations in Encinitas.  Get more info on the CCEFF website, and join my family and me at Cottonwood Creek Park on Sunday, June 7th for Encinitas Environment Day.  Be sure to bring the kids!

And, by the way, if you’re new to the area and need assitance finding one of your own Encinitas homes, or are interested in buying a Del Mar property or a Solana Beach home, please contact us, Maxine Geller and Eva Meier.  We specialize in customized assistance when relocating to North San Diego County, we offer sound and intelligent real estate advice, and we provide excellent representation when purchasing a North San Diego County home.  We will guide you through the process and make it as pleasurable and painless as possible.  We look forward to meeting you!

The bit of drizzle we’re getting today isn’t making a dent in our low water stores.  The San Dieguito Water District, the authority serving Encinitas CA homes, Leucadia CA homes and Cardiff CA homes, has recenty bumped us up from a level 1 “drought watch” to a level 2 “drought alert”.  So we’d better stop whining about the grey, wet weather and hope for a true downpour!

Effective July 1, 2009, here are the new guidelines that will apply:

• no washing down of paved surfaces
• eliminate landscape water run-off
• repair all leaks within 72 hrs of notification
• watering of yards is limited to no more than 3 days per week from June 1 - October 31
• homes with odd numbered addresses can water, Sunday, Tuesday and Thursday
• homes with even numbered addresses can water, Saturday, Monday and Wednesday
• Apartments and condos and businesses can water, Monday, Wednesday and Friday

Those of us living in these communities as well as other parts of San Diego County must all do our share to cut back on our water usage.  We tend to take our water supply for granted and don’t realize how fortunate we are to have access to reliably clean and fresh water.  So many don’t have that luxury…

But if that doesn’t motivate you, just keep in mind that non-compliance with water use restrictions during a Level 2 condition will result in a violation being issued and a fee being added to the water bill!

A buyer’s market

With the median California home price down 40-50%, homebuyers are definitely in the driver’s seat these days here in the Golden State.  And “first-time homebuyers”, i.e. those who haven’t owned a property in the last 3 years, really rule the road!

An even better “first-time” homebuyer’s market

In the past, the affordability index all but pushed these buyers out of homeownership, particularly when looking for San Diego homes for sale.  These folks have been saving and waiting, and waiting and saving, AND, finally, their time has come!  Unlike so many others who would like to take advantage of this great market, first time homebuyers, by definition, have no home to sell!  In addition, with the incredible interest rates out there right now, and the $8000 tax credit authorized by the American Recovery and Reinvestment Act of 2009, conditions are perfect for first time homebuyers. 

Better act fast

That said, this window of opportunity is a narrow one, and closing fast.  The market has definitely hit bottom in many low end areas, or, in fact, already passed it - and competition for these homes is starting to drive prices back up.   Moreover, the $8000 credit expires on December 1st, so eligible buyers had better act quickly!

Where the hot deals are

The coastal North San Diego County home markets  showing the biggest number of foreclosures, short sales and REO’s, are Vista, San Marcos and Oceanside.  There are almost 3000 properties under the conforming limit ($417,000) on the market right now in North County!  To learn more about how you can take advantage of this great buyer’s market and the various incentives available, give me a call (760-815-1318).  Don’t let this opportunity pass you by!

Statistics have always intrigued me - in part because they are so malleable. It’s easy to manipulate the numbers to argue just about any point you want to make.

The high end areas in San Diego County like Del Mar, Solana Beach and Rancho Santa Fe are still in serious decline, with very little activity and large inventory sitting on the market. 

An interesting analysis I recently did shows why the sellers had better get on board with the new reality or they will never sell their home.   I compared the price per square foot of homes that are active on the market (i.e. “not selling”!) with those that have sold, and more specifically, with those that have sold in the last 12 months, 6 months, 3 months, 2 months or 1 month.  I focused on Del Mar Ca real estate, since, after all, that’s where my office is and where much of my business tends to be.  I also restricted the analysis to detached homes in the $1m-$3m range, since that is the most representative niche in Del Mar.

Here are the raw numbers:

• 99 actives (NOT selling)
• 58 sold over the last 12 months
• 20 sold over the last 6 months
• 12 sold over the last 3 months
• 7 sold over the last 2 months
• 2 sold over the last 1 month
• 11 pending (in escrow)

When looking at the price per square foot of the Del Mar homes that sold in these periods, we see a trend:

• actives -      $784/SF
• 12 mo -      $604/SF
• 6 mo -        $573/SF
• 3 mo -        $518/SF
• 2 mo -        $554/SF
• 1 mo -        $322/SF
• pending -     $479/SF (once these close, the final sales price per square   foot [SP/SF] will be much lower, as the $479 is based on ASKING price)

A more visual depiction:

Del Mar Ca - Price per Sq Ft as function of period sold

In other words, those Del Mar properties that have sold more recently are those with a much lower price per square foot.  Del Mar listings still sitting on the market NOT selling, at an average of $784/SF, are simply OVERPRICED.  Of course price per square foot is not the only factor in selling a home, however, this analysis is certainly a telling indication of what’s selling!

For solid, realistic input on where you need to be priced in order to sell your Del Mar Ca home in today’s market, give me a call (760-815-1318) - I’d be happy to give you an honest assessment, with no obligations or strings attached.

Starting in late May and continuing throughout the summer, look out for a new ”Coast Cruiser” shuttling folks up and down along the beach corridor, from Leucadia, CA to Cardiff-by-the-Sea, CA.

Approved by the Encinitas council last May (2008), it was agreed that the launch of the minibus would be postponed until summer of 2009.  We’re almost there! 

The intention of the delay was to provide more time to seek additional grants and sponsorships to offset the operational expenses, and apparently, the Leucadia 101 MainStreet Association, who has primarily been responsible for seeking grants and administering the pilot project, has succeeded in raising the funds.  The cost of a ride will only be $1, and weekend passes will also be available, so, folks, please take advantage of it!  Grab your surfboard and hop on!  Service will be hourly on Saturdays and Sundays. 

One particularly cool feature is that the minibus bus will run on vegetable oil donated by local restaurants, so you’re really reducing the carbon footprint by leaving your car at home!

I’ve whined before about the lack of public transport, so I, for one, will sit back and enjoy the ride!

The Annual Encinitas Garden Tour is coming this Saturday, April 25th, from 10 am - 4pm!  In its fourth year, this fun event presents a truly rare opportunity to visit a series of exquisite gardens in the private backyards of select Encinitas and Cardiff homes.  

Every year, the organizers pick a different area where visitors can WALK to the 20 or so participating gardens.  This year, the gardens are located in the composer district of Cardiff-by-the-Sea. 

The Festival will also include a Gardener’s Marketplace at Cardiff Elementary School with unusual plants, vegetable seedlings, garden art, and information about gardening.  Parking will be at the San Elijo campus of Mira Costa College, and shuttle buses will be provided.  Visit www.EncinitasGardenFestival.org to get more info or buy tickets.  By the way, volunteers are still needed, so, if you’re interested, call to get more info.

I found myself stuck in another traffic bottleneck this morning.  It took me half an hour to drive off the exit ramp and creep the 1/2 mile to my Coldwell Banker Del Mar Village office.  And, what gets me is that it was totally avoidable!

Del Mar Fairgrounds

I ought to know better after living and working next to the Del Mar Fairgrounds for the last 20 years!  Summer after summer, we locals learn to arrange our schedules around the traffic patterns generated by the San Diego County Fair and the race track season.  The problem is we forget that the Fairgrounds are also used throughout the year for a variety of events. In fact, the facifilites are used for over 350 events a year.  They include weddings, receptions, equestrian and other animal shows, concerts, craft shows, home shows, car shows and other social and consumer events.

When there’s an event going on, it can take hours to go a mile, and sometimes, there’s no way to turn around and take another route.  It can be rather frustrating, to say the least, and as I mentioned, it’s totally avoidable!  I am hereby promising myself to visit http://www.sdfair.com/ and check the schedule once a month to make sure I know what times and days to avoid.  Hey, and who knows?  I may even learn about an event I wouldn’t want to miss!  For example, I’m sure my 2 yr old and my 4 yr old would enjoy the circus that’s coming next week - I never would have known about it had I not written this post and checked the schedule!

If you’d like to take advantage of the great prices out there and buy a second home - a launching pad, so to speak - to all the wonderful events at the Fairgrounds, give me a call (760-815-1318)!  It is a phenomenal time to buy.  Or, if you just can’t take the traffic anymore and want to sell your Del Mar CA home, I have buyers for you!  Give me a call!

Running out of prefixes for 760

With the ever growing number of cell phone and fax users on the planet, combined with the tremendous increase in the quantity of homes in North San Diego County, the region using the 760 area code has rapidly been running of out of telephone numbers. 

To split or not to split 760 and 442

The traditional fix in the past has been to split the area into two, with one portion transferring over to a new area code.  This kind of split puts an enormous burden on small businesses as they must reprint stationery, business cards, advertising materials, signage, etc., not to mention the danger of losing connection to former customers.

A successful fight to keep 760!

442 Overlay map from www.Keep760.org

Thanks to an organized effort by keep760.org, and to the community participation in response to their urging, we have succeeded in getting the California Public Utility Commission (CPUC) to agree to an overlay instead.  What this means is that every number that begins with 760 will remain the same.  Only newly issued numbers in the overlay region will contain the new area code, 442.  The two area codes will coexist within the same geographical area.  This is phenomenal news and a huge victory for those of us doing business in this region.  And for those who live in Cardiff CA homes, Encinitas homes, Leucadia homes or owning property in other areas of North San Diego County, we have been spared a monumental inconvenience.

A minor downside

The only down side, and its merely a minor nuisance, is that the Federal Communications Commission (FCC) requires dialing the area code + telephone number for all calls where an area code overlay exists. But with most equipment featuring autodialing and speed-dialing, we’ll barely notice it.