A brief stroll down memory lane before reviewing a couple of new-home tracts coming next year:
https://www.latimes.com/archives/la-xpm-2009-apr-02-fi-real-estate2-story.html
Jim Klinge
Klinge Realty Group
Broker-Associate, Compass
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From what I can see the big difference between 2023 and 2008 is the number of foreclosures. Back in 2008 interest rates were around 6% which is roughly equivalent to today.
The number of foreclosures back then is what created the fix and flip stuff everyone saw on tv. Now there’s much less lower priced potential properties to flip.
Not foreclosing is what’s keeping house prices going up.
the traffic in and around N Leucadia is a nightmare on an average day. The intersection at La Costa and Vulcan and Coast highway is a major clusterfark.
but hey, everyone is working from home anyway. Just Air BnB your new home for the summer and get away from all the tourist traffic.
I have lived in Leucadia 20 years and welcome the changes, regardless of traffic. I remember the ole’ Tyvek Estates. There was one there that sold at auction for $790k and he couldnt move into it because it was “affordable housing”
You forgot to show Fox Point Farms on Leucadia blvd with 250 units (40 affordable). And Quail Gardens rd 200 units. And, Piraeus Point townhouse development. Also, the huge Captain Kenos development on 101 just south of there https://thecoastnews.com/developer-unveils-renderings-for-captain-kenos-rebuild-project/. Theres more in the pipeline.
I believe Leucadia is one of the best “bets” to invest real estate money for next 30 years!!!!
The times are a changin’
Shadash – what makes you think the banks are sitting on tons of “foreclosable” properties? There not. 2006+ had liar loans that people would just make up an income to get the money. That doesn’t happen today and probably never again. I think we are in a dark period of no inventory and high purchase cost. There will be no crash here as we are severely short of housing inventory. In fact, this will just slow down housing production even more, thus leading to more shortage. But don’t worry, Prez election coming up in 2 years and dems will force the rates down to show how wonderful the economy is. It sucks to be a young couple starting out in San Diego now.
You forgot….
I didn’t forget.
You did forget…
I just had Fox Point on here:
https://www.bubbleinfo.com/2022/07/09/edible-landscaping-in-encinitas/
The title of the video “Leucadia New Homes 2023” could make one think you’re showing all the new development coming to Leucadia next year. Thus the forgot/didn’t-forget. I forgot what i had for breakfast, so i’m not one to judge..
Do you have a take on Fox Point Farms affordable units all being rentals managed by Chelsea rather than offered for sale to qualifying applicants? But there’s goat yoga!
He likes to heckle me, but I’ve had enough now.
I don’t have an opinion on Fox Point rentals. But it sounds like a topic for http://encinitasundercover.blogspot.com/
Too much noise, not enough signal there..