Check out our new listing adjacent to the 4th hole at La Costa Golf Course! A classic old Hollywood custom home with large rooms and high ceilings that add charm and character to the single-level experience with primary suite and all living areas on the 1st floor! Add your final touches to this 3 br/3 ba, 2,887sf estate and create a golf showcase! Two others on the course now listed for $3,000,000+ and my listing is priced at only $1,995,000 – wow! Open 12-2pm on Friday and Saturday!
Here’s our new listing in Starboard by Davidson Communities – San Diego’s best builder!
7618 Circulo Sequoia, Carlsbad
5 br/3.5 ba, 4,000sf
15,314sf private corner lot
LP = $2,500,000
Davidson’s Starboard neighborhood is known to be among the finest in Carlsbad, and for most the Residence Two is the favorite floor plan. Its 4,000sf surrounds the private 700sf courtyard which extends the indoor/outdoor living area all on a whopping 15,314sf lot.
Five larger bedrooms include a bedroom/full bath suite downstairs which is sequestered off by itself for maximum privacy. The lushly landscaped backyard is a tropical oasis waiting to provide the new owners the perfect place to relax and enjoy the good life, plus it’s just a short walk to the community clubhouse, Olympic-sized pool, and fitness center. Hardwoods, stainless, dozens of big windows for plenty of natural light, four fireplaces, 3-car garage, and dual-zone central A/C.
Either walk the dog around the neighborhood’s 1.2-mile loop or hike/bike the miles of trails nearby! Top-rated Encinitas schools too – wow! If you are looking for an upscale luxury experience that matches your active lifestyle, check this out!
Davidson homes tend to sell for a premium – 7302 Calle Pera closed for $3,025,000 on 9/19! Other comps include 6643 Halite that closed for $2,925,000 on Aug 30th…6626 Halite that closed for $2,475,000 on Aug 30th….7290 Sitio Lima closed for $2,580,000 on 5/23/24 (backed to RSF Rd.)…smaller 7558 Circulo Sequoia on a smaller lot closed for $2,444,000 on 7/3/24…..3056 Via Romaza 3,174sf closed for $2,700,000 on May 28th.
This house for sale is down the street from the one I sold in October, 2022 for $2,250,000 and I said then that I didn’t think another home would sell in this neighborhood for less than $2,000,000. None have closed under $2M since then, and the last two sales were both closed in July at $2,125,000 for a Centex, not Davidson home that backed to the power lines and $2,444,000 across the street from this one.
Big time golf has made its way back to La Costa! The individual and team golf formats create a longer tournament that still has two days to go!
The 2024 NCAA DI men’s golf championship began with selections on Wednesday, May 1. Regionals, which kicked off on May 13, concluded on May 15, and determined the 156 participants advancing to the championship round. The championship finals are underway and take place from May 24-29 at Omni La Costa Resort & Spa in Carlsbad, California.
On Day 4 of the finals, Georgia Tech’s Hiroshi Tai won the individual championship after starting the day three strokes back.
La Costa has a storied past and after $70-million dollars worth of improvements, it will host the NCAA men and women championships for 2-3 years and perhaps become their permanent home!
I have sold two LCV listings this year – here are my results:
Both of mine sold in the first week on the market for $100,000 over their list prices.
The addresses highlighted in blue here are the group I named the La Costa Valley 6 – the comps that would have given other sellers confidence that their values were in the low-$2,000,000s….at least in June, 2023. Here is a link to the last update (dated June 27th):
Two of the six are still for sale. My sale on Corte Cidro and three others closed escrow.
But look at the other new action too:
The addresses in bold:
Unbelievably, the model match to my Corte Cidro sale, 2185 Corte Arboles, hit the market at $1,799,500, three weeks after mine closed for $2,200,000! Hard to understand why they didn’t try for more – the house was described as ‘beautifully renovated’, and in the photos it looked a lot like my listing did. There was probably some street noise from Olivenhain Road, but $400,000 worth?
Corte Cicuta had been the first sale that set the tone for the 2023 Spring Selling Season, selling for $714/sf in March. But to demonstrate how thin the demand can be, only one buyer looked at that house, and bought it right away.
Sitio Caucho was a large 3,578sf house on a culdesac with westerly view, so no surprise that it sold right away too. At $622/sf, it looked like a good value.
2305 Camino Robledo was the wild card, because at the time, the only comp was Corte Cicuta at $714/sf so I didn’t think it had much chance of selling. The model match next door is still for sale, now listed for $714/sf, and when the 2305 buyer walked into that open house, he said ‘Oh s***, what have I done?’ – realizing that he paid too much.
The two sales on Camino Serbal were Davidson-built homes, and superior in quality.
Bottom line in the new era: You never know when a neighbor will dump on price, and it affects everyone else. The four active listings are now hung out to dry by the Corte Arboles sale, and at this point, they don’t have much chance of selling for $2,000,000+ when in May/June they could have gotten it easily.
The problem with describing the overall market conditions by looking at the whole group of sales is that the newer-looking one-story homes on culdesacs will always sell for a premium, and you can’t say that about the others.
When I listed 2949 Avenida Castana on March 31st, it was the only house for sale in La Costa Valley. Well, besides this one, which we thought would never sell while priced at $2,400,000 (the model-match comp had just closed under list at $2,175,000 on March 27th).
We listed Castana for $1,900,000, and took a $2,000,000 offer on April 8th after my slow-motion auction gave all five bidders a chance to win.
But the $2.4 listing did go pending on April 16th, shocking everyone. Two weeks later, their cash buyer closed for $2,375,000, which set off a cascading surge of new listings.
Above are the six La Costa Valley listings that hit the open market between April 28 and May 19th, with their initial list prices.
Here are today’s results for the same six listings:
Everyone – sellers, buyers, and agents – were working with the most-recent $2,175,000 comp until the $2,375,000 closed on May 1st. Vista Acedera had already gone on the open market, but the other five listings had a chance to adjust their price before hitting the MLS in May.
COULD ONE HIGH COMP GIVE EVERYONE ELSE A 10% BUMP?
Avenida Ciruela went with their planned list price and looked like a giveaway, relatively. No surprise that their buyer paid the $250,000 premium that was already built in by the new comp of $2,375,000.
Camino Serbal stuck with their list price (it was telegraphed in advance), and they got a $50,000 bonus.
We were going to start lower with my listing on Corte Cidro, but we bumped it to $2,100,000. I conducted my open-house extravaganza and procured three offers. After giving all three a chance to pay more, the winner agreed to $2,200,000. I raised my list price to signal to others (buyers and agents) that we were fortunate to go higher, in hopes of not getting undercut while in escrow.
The other three listings are still active, and have only adjusted their prices modestly. Now that my listing offcially closed yesterday for $2,200,000, there probably won’t be much change in their prices now – heck, two out of three are below mine, and my listing had power lines and a full bath added without permits!
It shows how easy it is to miss in the post-frenzy market. Some homes aren’t going to get their price, and others aren’t going to sell at all. The reading of the market conditions, and the strategy employed by the listing agent is what makes the difference.
This was filmed during broker prview and Portia marked it pending the same day. She did pretty good for an older house on a busy street – her sellers bought it from a flipper for $880,000 in 2016:
The crime of the century was committed at this house. At the end of 2021, the listing agent priced this house at $1,799,000, and then spooned it over to her flipper buddy for $1,650,000 without putting it on the open market. TWO MONTHS LATER, the flipper listed it for $2,895,000 and these sellers paid $3,250,000 in February 2022! Then they listed it for $3,299,000 last month and got it.
