Close-up photo:
This new-home tract (in red circle) is due east of La Costa and behind Knightsbridge for those who know Olivenhain. These can be described as Robertson-Ranch quality on bigger secluded lots for less than twice the price. This same builder sold out the 1 Channel Island in spite of the odds so they should have a go of it here (Encinitas schools too). Green line is the old dump. Click on any of my photos for larger image.
There are nine models that range in price from $2,094,000 to $3,119,000. The base tax rate is approximately 1.05965%, plus Mello-Roos assessment of $1,430 per year. The HOA fee is $420 per month for private streets, mailboxes, fencing, and common-area landscaping.
Thanks for showing us what $2-3M buys in the northern inland burbs. Shea Homes will have no problem selling those homes. When you look at the big picture, those homes are surrounded by San Elijo Hills, Elfin Forest, The Bridges, Olivenhain, and La Costa Oaks. All successful developments.
However, I would never live there. If I were in the $2-3M market, I’d be looking in places like Point Loma, Coronado, Mission Hills, La Jolla etc. When we moved to San Diego, we looked at inland San Diego like Phoenix and coastal San Diego like San Diego. We decided we wanted to live in central coastal San Diego. Coastal Squaremont has great cool weather with a ton of things to do all year year long.
This past weekend, we took our Corvette on a twist-and-turn cruise with 30 of our closest friends thru Fallbrook, Deluz, and southern Riverside county. We gave our Corvette a great workout but that’s not San Diego. San Diego is lunch at Rocky’s in PB.
gameagent reported that several of the volunteers at the La Jolla Concourse d’Elegance marked that they were referred by bubbleinfo.com. We are a force!
At the 2019 La Jolla Concours, my wife and I will be board members (still under negotiation). If we get on the board, bubbleinfo.com readers will get a secret code word. Stay tuned.
I just want to drive a car with 1500 HP please….
La Jolla Concours volunteers usually get to sit in any vendor car they want. However, the 1500hp, $3.4M Bugatti Chiron was already sold. So the vendor would let no one sit in the car. Not even the Field Marshalls (my wife and I).
Last year, I drove a Bentley Bentayga and my wife drove a Lambo Huracan. The prices on both made our VW SUV and Corvette seem like pocket change.
gameagent: agreed entirely. The whole point of spending $2-3M on a house in San Diego is to live near the city and the water in a great, established neighborhood. Why anyone would spend that type of money to live out there is beyond me. Ask yourself this: which area is likely to decline MORE in the next downturn – one of these new developments or an established neighborhood in La Jolla?
Also, survey after survey of millennials shows they want to be near urban centers. I imagine only boomers wanting to buy one of these new developments, and they will have a hard, hard time selling in 10-20 years when the demographics have changed.
Wait until millenials have kids, then take that urban center millenial survey. If you polled me three years ago, I would’ve said I want to be near beach and restaurants and can stomach the noise/traffic and congestion… A 3 year old later and one on the way. Give me green space, good schools, privacy and peace and quiet. Taking the results of a survey today and extrapolating 10-20 years out… You know what they say, if you forecast, forecast often.
> The HOA fee is $420 per month for private streets, mailboxes, fencing, and common-area landscaping.
A few HOA covered services and there will be no need for property taxes.
BTW, I can drive anything. Three speed straight gear double clutch with a heavy pedal and manual linkage steering and spark advance? No problem.
Steve: agreed, all those things are important for kid-havers. But at this price range you can get all of those things in closer to the city and beach too. We aren’t talking about an apartment in PB here…
I can only speak from personal experience, but my millenial friends with kids are still sticking with the closer-in neighborhoods. UC, North Park, La Jolla, Clairemont, etc. Granted, things may change when these kids become teenagers but for the time being the I don’t see any evidence anyone wants to move so far away.