Monday, August 6th, 2007 at 5:18 PM
There Is No Reason to Panic
There is nothing wrong with your web browser. Northern San Diego County is still well covered by “Jim the Realtor.” The best way to do that is by making sure he and his family get a chance to get away for a few days. While sure to “peek” in over the next few days “Jim the Realtor” has wisely decided that the mundane be delegated. Let me introduce myself; Rob Dawg aka Robert Coté of EN. Okay, take a breath. I’m here to empty the trash and water the lawn not sell the furniture. I’ll use this occasion to discuss NorSD and any similarities/differences with my VenCo location. Contact me at techscan@yahoo.com if you have anything nasty to say. If you have anything nice, well… post here.
Next up: Demographics as desitiny.
Posted on Monday, August 6th, 2007 at 5:18 PM in Wednesday Rock Blogging | 25 Comments » | 
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Please Discuss Leucadia. There is a lot of changes occuring there and prices are still rising in a down market. I see it as a bargain still before it turns into the future Solana Beach or Del Mar.
What do you think?
Danny | August 6th, 2007 at 5:55 pmAll you ever wanted (and didn’t want) to know about Leucadia is at Leucadia Blog!"
For others this is Leucadia.
I want this one.
Robert Coté | August 6th, 2007 at 6:16 pmAre you talking about Leucadia Blogspot.AntiGrowth.Anti-Development.OnlyPostWhattheLiberalSurfersWanttoHear BLOG?
What do you think about the future of Leucadia?
Thanks,
Danny | August 6th, 2007 at 6:31 pmTough crowd, Robert, huh?
Daniel | August 6th, 2007 at 7:23 pmHey, Daniel. If I didn’t think it was a tough crowd I wouldn’t have been interested in holding down the fort while our esteemed host enjoys himself for a few days.
Jim knows his market and surround. I know the big stuff; demographics, politics, California. a good match but not equal replacements.
Robert Coté | August 6th, 2007 at 8:05 pmDang, do ALL of you blog guys know each other? Pleasant surprise to see you here Rob Dawg. Checked homebuilder stocks, more of the same in RE. Screw it. The water is close to 75* here in SD, so I’m calling it an early day and going to frolick in the mush. Looking forward to the coming topics.
pavlovianvestor | August 6th, 2007 at 8:41 pmI see zero bargains in Leucadia in terms of resales. You can’t buy a property that will cash flow. Best bet is to be a developer. Several infill projects are in the works, but you have to have a thick skin to battle the considerable NIMBY’s, lots of resources, and some friends at the Encinitas planning dept. won’t hurt. There are about 2-3 brokers that do 95% of the business there and are tied into the old farmers who own the growing houses where the remaining available land is.
I like Cardiff better. Because of the slope of the terrain there’s a lot more potential for ocean views all over the place and there aren’t as many old timers trying to make life difficult for infill development. You also have better restaurants, Seaside market, a new library, etc. You can have a great spot in Leucadia, but it’s not walking distance to anything too desirable unless you consider the Leucadian your favorite watering hole. That’s where you can run into people that make the guys in the show "John from Cincinati" seem normal.
Vulture | August 6th, 2007 at 8:50 pmMeet Rob Dawg, the realtor bounty hunter and brillant mind of EN.
Dawg, glad you can offer you brilliant work to all of us.
arizonadude | August 6th, 2007 at 9:02 pmThe new Library is just south of Encinitas Blvd, 1 block from Leucadia – a hell of a lot closer than Cardiff.
I like Cardiff too but it is too expensive. The Cool thing about Leucadia is that it is a Neighborhood In Transition. The Hotels and Restaurants ARE coming. If it was like Cardiff, and everything Perfect, it would be a "lost opportunity" as too expensive.
Encinitas IS getting a brand new market close to Moonlight coming this Summer, so things are changing.
Leucadia Blvd is getting completely redone with 3 Roundabouts being installed NOW. Shea Homes is building 69 new homes off Vulcan on a former Nursery.
My whole point of Leucadia is that it’s affordable for living by the beach, compared to Cardiff and Del Mar.
If you want to talk about where is the best place, I would say downtown La Jolla – but Cost if Prohibitive.
Anyways, Leucadia will have it’s own style similiar to Cardiff someday. I personally feel Cardiff is too cramped into each other with too many renters crowding the streets.
We can all compare in 20 years!!!
Ciao
Danny | August 6th, 2007 at 9:55 pmRealtor bounty hunter? Ohhh a new resumé bullet point thanks. No seriously the RE biz is at the cusp of a pardigm and all those other fancy words for wrenching upheaval that will leave it better and more efficient. People (including me) use the travel agent analogy but most don’t follow through. We still have travel agents because what they do has value. What realtors and agents do will always have value for many of the same reasons.
I won’t pollute the pure clear waters of NorSD Real Estate with my bloviations on the stock markets and such. There’s a no holds barred place where we kin wrassle iffen you like. You know where that is.
For now I’m busy "getting smart" on the NorSD area. Fascinating. My first blush is the similarities. The older areas are very pleasant. Decent lots, mixed within strata housing choice, little threat of either money or planners forcing changes. These command a premium because I am not alone in therse observations. Then there is the "recent" pattern. High prices, higher HOAs, tight land and poor traffic flow all suffering the "boiling frog" syndrome of yet another development feeding into those problems.
No, not every blogger knows every other blogger. What happens is exactly what happens at cocktail parties. It gets easy to listen in and decide which conversations in which to participate. The net is a veritable smorgasbord. I can provide links from plague to nirvana for any market you can name. It’s just that the smart money doesn’t waste their time with the pollyanna outlooks right now. Jim has it right for now. Buying; get smart or get a smart guy (or gal) to be smart for you. Selling; get smart or get a smart guy (or gal) to be smart for you.
Robert Coté | August 6th, 2007 at 10:07 pmRobert,
With all do respect, after reading your posts, I always wonder to myself, "What the hell are you saying"
You talk in many different directions, your grammer is terrible, and you dare throw in a few long words to look intelligent or something.
Can you just talk to the point and stay on topic? I’m Vietnemese and I communicate volumes better than you. Goes to show, Realtors are Dumbasses!
Doug Phan | August 6th, 2007 at 10:47 pmI am not a Realtor®.
That would be "due respect" and "grammar."
I’m sorry that my extremely short and hopefully low profile caretaking of Jim’s excellent blog is causing you distress. The smarter, better spoken and more affable owner will be back before you know it.
Robert Coté | August 6th, 2007 at 10:56 pm"The smarter, better spoken and more affable owner will be back before you know it."
Add ‘better-looking’ to that list…
SushiBroker | August 6th, 2007 at 11:41 pmRobert,
it is a tough crowd here. But I usually think your investment wisdom is well above average. I don’t expect a lot of good news in RE in the next few years except for the buyers.
norcal ray | August 6th, 2007 at 11:43 pmGo Robert! LMAO.
Danny, I also believe that Leucadia has great potential, but I think Leucadia will take a VERY long time to improve. Leucadia needs infrastructure improvements far beyond round-abouts. It needs an improved sidewalk along 101, a bike-walking path along the tracks (similar to Solana Beach), and several safe pedestrian rail road crossings. What Leucadia doesn’t need is to be labeled as blight and have the funky character removed.
Leucadia has always been a poor area. The original Abalone fishermen houses from the 20′s still stand and can be rented (a spacious 400 sq ft). My grandmother lived in Leucadia for awhile when it was mostly poor Avocado farmers.
Not a lot has changed, the general populous is still very poor- immigrant workers and jobless surfers make up the majority demographic. What effect does that have on the local school system? I haven’t heard great things about Capri.
The new developments in Leucadia are incredibly extravagant and have high prices. But I worry that there is just too much to change and not enough desire to change to bring Leucadia up to a Del Mar standard. The locals don’t want it – only the recent transplants with mega mansions and dreams of a free ride are longing for such a dramatic change.
Tom in Cardiff | August 6th, 2007 at 11:54 pmDawg,
You rule dude. Are you getting bored now that the spank tech of botched real estate investing has been sent packing?I can see him flipping burgers right now.
Jim the "real deal" realtor of san diego county is the exception to the rule.There are some realotrs out there that are totally clueless about the business they have sworn to represent.
arizonadude | August 7th, 2007 at 12:45 amSorry, Robert…that lot is ours!
We’ve had our eyes on that for years. Unlike the "infill junkies," we’d like to keep it basically as it is, with the possibility of building a "family compound" of sorts (2-3 very simple, low-profile homes that wouldn’t freak out the natives).
Personally, I don’t see Leucadia becoming the next Del Mar. Hard to displace those who already live there, as it should be. As mentioned above, the locals are simple folk, and like it that way. No reason to McMansionize and yuppify every part of Southern California.
Glad to have you as our temporary host, Robert!
CA renter | August 7th, 2007 at 8:06 amThe fact that you guys are all missing what is happening in Leucadia is EXACTLY WHY I SEE IT AS THE BEST INVESTMENT IN SAN DIEGO COUNTY – PERIOD!!
My kids go to the local school there (Paul Ecke). It’s not filled with parents that are jobless surfers. It is becoming very gentrified. I lost count on the amount of BMW and Mercedes that were picking up their kids. You can just tell by looking at this new breed of "simple folk" moving in – they are quite wealthy!!!!!!!!!!!!!!!!!!!
Infrastructure changes are being worked on as we speak. The 101 is close to approval for moving it closer to the railroad, to open up parking for 101 businesses, along with new sidewalks and landscaping.
ALL I’M SAYING IS —— YOU **BETTER** KEEP L E U C A D I A ON YOUR RADAR SCREEN BECAUSE CHANGES ARE HAPPENING.
Danny | August 7th, 2007 at 2:33 pmDanny,
I agree Leucadia will slowly change, but even at this point you can’t get a rental property to cash flow so I don’t see it as being the goldmine that Oceanside was over the last 10 years. In Oceanside you had the city council and the people near the beach all wanting change. Not the case in Leucadia. The properties (new or old) and land are just too darn expensive right now. Watch to see what the new infill projects on Daphne, Hermes and Hymettus go for in the next 18 months. What type of property do you see being a good investment right now? I guess there might be some commerical opportunities (mixed use along 101 would probably work if you can find a big enough parcel), but I’ve never done that.
Vulture | August 7th, 2007 at 9:09 pmThanks Vulture. I’m not talking about cash flow rental properties. All my rental condos are in UTC where the demand is high and I bought many years ago.
I like Leucadia for my Home. I think it is a good place to live to watch your value grow — better than a Carmel Valley or University City. The neighbors anti-growth is very strong, but I see this as a good thing too. Limited growth, with limited density makes things more valuable too. In the last 5 years, I’ve seen a big transition from weirdos moving out to younger richer families moving in.
Thanks.
Danny | August 8th, 2007 at 1:32 pmVulture -
One MAJOR POINT I forgot to make about Leucadia is the Lot sizes. There are many lots, some with gorgeous ocean views, that are over 1/2 or 1 acres – MOST OF THEM WITH TEAR DOWN SHACKS!!!!!!!!!!!!! You cannot find that in Solana Beach or Del Mar anymore and DEFINITELY NOT in Cardiff, where everything is on a postage stamp. Also, Solana Beach is limiting the size of house you can build, ie – 1/4 acre lot, only 4000 sf house. In Leucadia, that is not the case. Right now on Hymettus, there is a 10,000 SQUARE FOOT home being built on 1 acre lot.
THIS IS WHY I LOVE THE FUTURE OF LEUCADIA!!! Yes, let the people limit the growth and density – that’s even better. It will be the Santa Barbara model. Rich people do not want to live in Oceanside where everything is crowded in together (except Oceanfront). They want large lots, ocean views, and privacy. THAT IS LEUCADIA!!!!!!!!!
Danny | August 8th, 2007 at 2:00 pmStop shouting, please.
But seriously, I live in La Costa so I frequent the area. I love Leucadia the way it is so I hope you’re wrong. Time will tell.
Bear | August 8th, 2007 at 2:07 pmBear – please. It’s not shouting. You are too sensitive. Just trying to get my point across.
Let’s discuss Chula Vista or something else now.
Danny | August 8th, 2007 at 2:24 pmI’m not the least bit sensitive, that was a joke in that you are so excited about this that you’re cracking me up. I don’t begrudge your feelings about Leucadia.
One thing I will disagree with you about is that drivers of expensive cars are automatically wealthy. People in this region really seem to overindulge themselves when it comes to automobiles. In fact this topic it is related to this blog in that a lot of housing debt accrued in recent years has been sunk into automobile purchases.
Bear | August 8th, 2007 at 2:53 pmAgree that your automobile does not directly pertain to your wealth. My point was more overall it is becoming more of the norm there.
Here is a small list of upcoming City projects:
http://www.ci.encinitas.ca.us/Government/CityP/ProjectL/
Danny | August 8th, 2007 at 4:31 pm