The edge of the continent is a fascinating place for many reasons.
From a real-estate perspective, it is fascinating how much people will pay to have a front-row view – a position that comes with a somewhat-uncertain future when you are on the cliff in Encinitas.
There have been four closed sales in this stretch since the beginning of the year, from $2.038 million to $10.5 million:
http://www.sdlookup.com/MLS-130031640-1062_Neptune_Ave_Encinitas_CA_92024
http://www.sdlookup.com/MLS-130028271-370_Neptune_Ave_Encinitas_CA_92024
http://www.sdlookup.com/MLS-140010221-566_Neptune_Ave_Encinitas_CA_92024
http://www.sdlookup.com/MLS-140006166-532_Neptune_Ave_Encinitas_CA_92024
As you will see, the bluff is exposed to the elements, and it doesn’t look like it will last forever. But it does provide privacy and a bigger view than if you were merely at beach level:
P.S. This was meant to be a review of the bluff – if any residents don’t like it, I will gladly delete. No offense intended.
I can think of better ways to spend 10 Million but hey if you had 50 million sitting around why not.
That Drone hits the surf it’s toast.
Watch out for seagulls, I would not be surprised if one decides it looks like something it could eat LOL.
No bluff lasts forever, but like so much in life it’s a matter of calculating the odds and the resulting risk vs. reward. I built on a bluff in 2003 and have been wizzing into the Pacific from my back yard ever since, and I highly recommend it. A daily dose of wonder, appreciation, and beauty you never tire of or take for granted.
That “return home” feature on the drone is key.
If that was where 90% of my net worth was I think I would sell and buy a nice place a few blocks away that had a view, I could always walk to the beach to get the full effect.
But at maybe 20% net worth may as well enjoy and buy really good insurance.
I wonder if you can insure against erosion.
One big storm and you could own a public easement LOL.