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Tuesday, December 23rd, 2008 at 7:10 AM

Rancho Santa Fe House $799,000

This year there have only been two houses in 92067 that have sold for less than $1,000,000, and those were $935,000 and $950,000.

So when you see a detached listing pop up for $799,000, you automatically think ‘short sale’ (which it is) and that it must be on a busy street and be a dog of a fixer too, right?

This is a 4 br/2.5 ba, 2,710sf fixer alright, on an acre lot.  But the location is in a quiet setting about a mile off Del Dios in Hacienda Santa Fe. The owner paid $700,000 in May 2001.

It used to be that places like Hacienda Santa Fe were considered ‘less than’ because it’s not in the vaunted Rancho Santa Fe “Covenant”.  But since so many other newer developments have been built like The Bridges, Cielo, and The Crosby, being in the Covenant has lost some of its cachet.  Buyers spending millions prefer the newer homes, and because the RSF Association’s ”Art Jury” is so restrictive about what can be built, the outliers have become a compelling alternative.

Here is a 3:48 min video tour:

Posted on Tuesday, December 23rd, 2008 at 7:10 AM in Short Sales | 28 Comments » | Print Print You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Reader Comments: 28 Responses

  1. What is the address? I’m not seeing it on the mls.

    Todd | December 23rd, 2008 at 8:10 am

  2. Where is the ice cream truck?

    greenlander | December 23rd, 2008 at 9:31 am

  3. I believe it is 17335 VIA DEL BRAVO.

    Looks like a better deal than many homes in Scripps Ranch, Penasquitos and all over SD with delusional sellers.

    afikoman | December 23rd, 2008 at 9:35 am

  4. That’s it – 17335 Via Del Bravo, 92067 – and for the location they could use an ice cream truck!

    Jim the Realtor | December 23rd, 2008 at 9:55 am

  5. “Rancho Santa Fe-ish.” LoL!

    Nothing that $200k in updates/repairs wouldn’t cure to make this a million dollar house. I bet it gets sold to an idle contractor who spends the $200k over the next 4 months and lists it in June for $1.825m

    Rob Dawg | December 23rd, 2008 at 11:01 am

  6. Still doesn’t cash flow!

    bh in hb | December 23rd, 2008 at 12:08 pm

  7. ArmChair Appraiser price: $600K
    Needs a complete rebuild, has no A.C. and it’s hot as hell there in the summer.
    Landscaping looks like it has been neglected and I bet the pool needs to be redone.

    ArmChair Appraiser | December 23rd, 2008 at 12:21 pm

  8. Very nice setting. Actually, the yard and outside are nicer than the inside. Would be a good place for someone who likes to tinker, you’d never end up putting more into that place than the neighborhood could afford.

    Dwip | December 23rd, 2008 at 12:27 pm

  9. Start with all new contertops, tile and appliances.The house looks way outdated.I am not familliar with the are but it seems to be in a high fire hazard area with all the chapparal brush around.There is no well in hell I would give 799k for that.looks like a 400k house to me at the max.

    arizonadue | December 23rd, 2008 at 1:09 pm

  10. I sure do miss those bird sounds. :( I’d consider that a major selling point.

    Kwaping | December 23rd, 2008 at 1:14 pm

  11. I’m not going to give it away!

    Seller | December 23rd, 2008 at 1:14 pm

  12. I like it. Not so much the house as the location and the setting. Do you think they’ll take 600k?

    Nameless | December 23rd, 2008 at 1:40 pm

  13. Seller, you bought the house for $700K in 2001, it’s obvious from the photos you haven’t done a thing to it for the past 8 years and let it fall into disrepair. The market is going back to 2001 prices so 600K is a fair market value for that home as anyone who buys it would need to put in at least 100K to make it “live-able”. At least if you had the RSF schools district going for you, then maybe you could squeeze a little more out of the price. You’re in the Solana Schools zone so it’s not really a Rancho Santa Fe property.

    bubblebob | December 23rd, 2008 at 3:20 pm

  14. BubbleBob

    Can you point me to where you found this info? We’re looking in RSF primarily for large lot size and the schools. Also looking at Elfin Forest for the same reason (RSF schools).

    How did you know this was Solana Schools?

    Thanks.

    jbirdfunk | December 23rd, 2008 at 3:34 pm

  15. jbird,

    from the PDF: SSF Via del Bravo

    Solana Santa Fe School District

    http://www.sbsd.k12.ca.us/District/Facilities/boundaries.html

    click on school assignments by street name.

    bubblebob | December 23rd, 2008 at 3:49 pm

  16. Excellent! Thanks. Now I’m trying to find something similar for RSF addresses but no luck yet. http://www.web.rsf.k12.ca.us doesn’t seem to have anything similar.

    jbirdfunk | December 23rd, 2008 at 4:19 pm

  17. The market is going back to 2001 prices

    Eventually, maybe. Right now, RSF and most of the high end is at 2003-2004 prices.

    At least if you had the RSF schools district going for you, then maybe you could squeeze a little more out of the price. You’re in the Solana Schools zone so it’s not really a Rancho Santa Fe property.

    Solana Santa Fe Elementary is almost as good as Rancho Santa Fe Elementary (aka Roger Rowe Elementary). Both of them feed into Torrey Pines High.

    Now I’m trying to find something similar for RSF addresses but no luck yet

    There’s no need, because there’s only one elementary and only one middle school in RSF district. If you want district boundaries, use this

    http://gis.sandag.org/boundary/viewer.htm

    Note that some of Elfin Forest and all of Cielo are in Escondido Union High district.

    Nameless | December 23rd, 2008 at 5:05 pm

  18. Three offers in now.

    jbird – I have a RSF listing coming up on 3.5 acres. Can I give you a hand?

    Jim the Realtor | December 23rd, 2008 at 5:24 pm

  19. Hilarious. I’m curious to know what fine RSF resident beat the holy living you know what out of that fine property. Not really the kind of behavior the upper classes generally display, is it?

    But seriously, Jim you asked a couple of questions towards the end of the video. One of them was why there weren’t more offers.

    I think it’s obvious. It’s a beat up house on some rough property however nicely located it may be. Call it “RSF Adajcent” or “Baja Santa Fe” it’s still a house that needs a lot of work for $800k. Not really chicken feed.

    Oh, if there’s an idle contractor with a million bucks laying around, I’m guessing they have better things to do with their money than buy into this problem at that price.

    ice weasel | December 23rd, 2008 at 9:47 pm

  20. can anyone make out what that green sign on the property above the fire hydrant says?

    http://maps.google.com/maps?f=q&hl=en&geocode=&q=17335+Via+del+Bravo,+Rancho+Santa+Fe,+CA+92067&sll=37.0625,-95.677068&sspn=36.505383,67.236328&ie=UTF8&ll=33.028929,-117.177373&spn=0.001181,0.002052&t=h&z=19&layer=c&cbll=33.02884,-117.177331&panoid=AtKAtibsZjgMxP8pgJBQUg&cbp=12,53.68893015216463,,0,5.733371680329201

    bubblebob | December 23rd, 2008 at 10:27 pm

  21. We live in RSF and drove by. If memory serves. the sign had to do with being part of the RSF community water district or something. Looks like it went with the fire hydrant.

    HappyRenter | December 23rd, 2008 at 11:33 pm

  22. I was there yesterday. The sign says Habitat Revegatation.

    Dan | December 24th, 2008 at 8:34 am

  23. Gorgeous backyard…

    Chris | December 24th, 2008 at 8:54 am

  24. Wow, you dudes are tough critics! Of course the house is a dump. You do realize that even a bare lot of ~1 acre is at LEAST $1 mil there. And they aren’t as ready to build on as this one. I’d guess most of the homes in that area are ~2 mil.

    If I hadn’t already way overpaid for a lot in Olivenhain, I’d seriously think about buying and scraping this one.

    Aztec ("Anonymous" above) | December 24th, 2008 at 9:03 am

  25. ..You do realize that even a bare lot of ~1 acre is at LEAST $1 mil there. ..

    Aztec, I guess you are still thinking with bubbly mind:-)

    george8 | December 24th, 2008 at 9:23 am

  26. I love how there is always an excuse. “Oh if I didn’t have…”

    Honestly, if it’s such a great deal, someone will jump on it make idiots of anyone who thinks otherwise. Problem is, without free money, this isn’t such a hot deal, not even at this price. I maintain this isn’t a great deal for anyone but someone with money to blow and lots of time to sit in their new home, scraped or not.

    ice weasel | December 24th, 2008 at 1:38 pm

  27. George8… not bubbly mind. Those lots were more like $1.5 to $2 mil during the peak. Now, I haven’t seen that exact street, so I can’t say exactly how it would’ve priced out.

    Ice weasel… it’s not an excuse, it’s a reason. A dude’s only got so much time to work on stuff like this. One is enough for me right now!

    Aztec | December 24th, 2008 at 7:42 pm

  28. This one has some serious potential, though. Yes, you’d have to spend A LOT. But those 2,700 sqfters in LCV, LCG, LCR, etc., have nowhere near that potential. I imagine a little creativity could go a long way with that home on that lot.

    $799k? Location is good not great imho. But that price is quite intriguing. I won’t be surprised if it goes fast.

    The Blur | December 26th, 2008 at 6:17 pm

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