Carlsbad La Costa Oaks

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.

https://www.compass.com/listing/7618-circulo-sequoia-carlsbad-ca-92009/1689390990002356577/

Open 12-2pm Saturday and Sunday October 19&20!

Post-Frenzy Results

The entry-level homes have kept, or exceeded their value from the frenzy. Generally speaking, it takes $2,000,000 or more to buy a decent house between La Jolla and Carlsbad today.

What about higher up?

It was at the peak of the frenzy in early 2022 that three homes sold in ‘The Ranch’ in Carlsbad, a tract of large homes on half-acre lots next to Olivenhain built by Centex in the early 2000s.

This one got the party started when it closed for $4,200,000, which was $1,000,000 over its list price:

https://www.compass.com/listing/3554-camino-arena-carlsbad-ca-92009/988499811730215929/

Then these two closed, and with three recent sales, it looked like it was a $4,000,000 neighborhood:

https://www.compass.com/listing/3603-camino-arena-carlsbad-ca-92009/1005085922918483761/

https://www.compass.com/listing/7915-corte-penca-carlsbad-ca-92009/1021982860260662241/

Here’s what has happened since (and the active listing was refreshed after 186 days):

It looks like $4,000,000 is still a stretch in today’s market.

While the July closing of $3,500,000 made it look like the comps were approaching $4 million again, then the same-sized house closes for $3,225,000 last week, thwarting the momentum.

Here’s how it looked:

At Encinitas Ranch, my record sale of $3,760,000 in November, 2021 is still holding up as the highest-priced sale of the tract homes. There was another sale of a home for the same price in 2022 that was 1,000sf larger than mine, but none higher since – this pending probably won’t get there either.

Lower rates may infuse more curiosity into the real estate market, but buyers will still be cautious now.

Get Good Help!

South Carlsbad, 1998

The ‘Villages of La Costa’ was the name given to the development of four large areas of south Carlsbad. La Costa Valley (bottom left) was graded and model homes being built when this photo was taken. La Costa Oaks South is the green patch to the right, La Costa Ridge in the middle, and La Costa Greens in the upper left, next to where Bressi Ranch and Rancho Carrillo were being graded in this photo.

Here’s a good summary of what Fred had to endure to get the Villages built:

https://www.builderonline.com/land/planning/worth-the-wait_o

Oceanfront Development Opp

This location is ideal because it’s right at the end of Carlsbad Village Drive and the closest you can get to the village. There have been three houses sell on this street for more than $10,000,000 – shouldn’t a brand-new house sell for close to that? Build three here!

Zillow Lowers Forecasts

Zillow has every reason to be the nation’s real estate cheerleader since they derive the bulk of their income from realtors. They had been predicting 3% to 6% appreciation locally this year….at least up until two weeks ago.

Something has changed:

Carlsbad NW – 92008

Carlsbad SE – 92009

Carlsbad NE – 92010

Carlsbad SW – 92011

Carmel Valley – 92130

Del Mar – 92014

Encinitas – 92024

La Jolla – 92037

Carmel Valley out in front with a +2% over the next year? Yikes!

It means they think that everywhere else will be flat, at best.

Beach Sample

There are a few possible conclusions here.

  • The sellers inherited the property in 2011, so they still had plenty of capital-gains taxes to pay if they didn’t live here. Don’t want to pay so much in tax? Sell for less!
  • The sellers were happy for a fairly quick sale, and having to take less wasn’t an imposition. The same could be said for all long-timers – if they had to take less, they could…..unlike at the last peak when so many were financed 100% or more.
  • The buyers paid $25,550 in costs on behalf of the sellers – a nice sweetener.
  • Maybe the original condition was such a turnoff that the sellers knew they needed to budge.

Recent history would suggest that multiple offers might have been in order. But not here, and certainly not everywhere now…..and the fixers are the first to be taking the hit.

Carlsbad is $2,000,000+

Earlier today we saw how $2,000,000 sure doesn’t go as far as it used to. Once you think your home’s value is above $1,500,000, it’s a quick jump to $2,000,000 – and if you go to sell it, then a net of $2,000,000 sounds even better. Buy any decent coastal house you can get your hands on for less than $2 million!

For the trivia buffs who remember that this house below has history – it sold for less than $1,000,000….3x!

Today’s list price is $2,250,000, and it’s now pending!

Design The New Park In Carlsbad

City officials hosted a community meeting on Saturday for the public to weigh in on three design concepts for Robertson Ranch Park.

“A Walk Through 3 Parks” took place from 9 a.m. to 1 p.m. on Feb. 10 at the Carlsbad Faraday Administration Center at 1635 Faraday Avenue, according to city officials.

Residents were encouraged to stop by for a “choose your own adventure” walk-through at three information stations focused on each of the park’s design concepts.

According to the city, residents had the opportunity to “meet and speak with the park design team, learn how they took inspiration from Carlsbad’s natural landscape to create designs that reflect the community’s priorities, ask questions, share ideas and let us know where we got it right and what you would like to change.”

The three potential design concepts for the park were agrarian tapestry, community quilt and rolling hills. All three design concepts come equipped with multi-use sports fields, restrooms, concession stands, pickleball courts, a buffer for nearby homes, a walking/jogging track and a 115-space parking lot.

Each concept will have slight differences in design related to the concept’s theme.

The park’s final design will be decided at two community meetings and through an online survey. Then, a final presentation will be scheduled for the City Council’s approval later in the year.

Depending on popular demand, the final design could be one of the three design concepts or a mesh of all three. The final design is not limited to the scope of one concept. “Based on other park planning processes, the final design usually ends up being a combination of the favorite elements of each design,” the city said.

This was the first meeting for the public to physically weigh in on the new design, with a virtual walkthrough meeting from 6-7:30 p.m. on Feb. 15. Register here to get the link.

The online survey can be found at www.surveymonkey.com/r/RobertsonRanchPark.


https://thecoastnews.com/carlsbad-shares-new-design-concepts-for-robertson-ranch-park/

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