Del Mar Flood Zone

The new flood map goes into effect in December, and it shows the ‘base flood elevation’ being six feet higher than it was on the previous map.  This article is about the city council meeting on Monday, where no action was taken but notes that the Coastal Commission is preparing their recommended changes to Del Mar’s Local Coastal Plan:

https://www.delmartimes.net/news/story/2019-07-17/del-mar-awaits-state-federal-coastal-actions

An excerpt:

Ongoing dialogue between the city and commission administrators has provoked fears among beach-area homeowners that the state body could impose onerous requirements in response to sea-level rise.

Of major concern is that the city adopted a sea-level rise adaptation plan that outlines various measures to cope with the rising sea. The plan, however, rejects the concept of “managed retreat,” in which property owners would have to relocate their homes and buildings to higher ground to avoid flooding.

City officials determined managed retreat is impractical for Del Mar, the county’s smallest city. The city analysis concluded there would be nowhere for buildings to be relocated and it would destroy property values in the millions and even tens of millions of dollars. The median home value in Del Mar is about $2.5 million, according to online sources, but beach front homes run much higher.

In contrast, Del Mar’s adaptation plan calls for measures such as sand replenishment and management, flood control measures such as dredging, and ongoing monitoring and analysis of the effects of the rising sea level.

A number of residents filed letters with the city before Monday’s meeting and many in attendance wore stickers with red “say no” bars over the term “trigger points.”

The sticker and comments were intended to express opposition to any commission attempt to establish thresholds that, when reached, would trigger required “managed retreat” responses by the city.

Also, city officials oppose the commission’s definition of existing development as structures that were built in the coastal zone before the commission’s establishment in 1977.

“Please listen to Del Mar residents. Say no to trigger points, say no to new definitions of existing development and say no to the California Coastal Commission,” urged Jerry Jacobs, president of the Del Mar Beach Preservation Coalition.

Del Mar Castle

The Del Mar Castle which sits on the top of a hill overlooking the ocean and the community of Del Mar was built in 1925 by Ruth and Marston Harding who relocated from Massachusetts. The Castle contains approximately 10,000 sq. ft. including a detached guest house. It was designed by famous local architect Richard Requa who went to Europe to study the best design and returned with authentic stained glass, doors and hardware from castles in the south of Spain.

http://www.shaperyenterprises.com/Projects/HistoricRenovations/Castle/index.shtml

Tony Robbins bought the Castle in 1987, and sold it for $2,100,000 in 1997.

https://goo.gl/maps/mZUwQDNMBAJ2

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Dog Beach Resort

Congrats to Brian who has had the middle parcel listed for sale since 2007!

Hat tip Richard:

One of San Diego’s most popular beaches could soon be getting a luxury resort.

Two Encinitas based companies specializing in hospitality development – The Robert Green Company and Zephyr – acquired a 16 acres oceanfront parcel in Del Mar, just north of Dog Beach.

They plan to build a luxury resort, and want input from the public.

“What we’re really doing is announcing a process where we go out and hold a series of community meetings to really define what the plan is,” said Brad Termini, CEO of Zephyr.

Termini said he and Robert Green, of The Robert Green Company, have been working to acquire the site for over a year.

“There actually are eight parcels here, owned by three different local families that have owned this land for a very long time,” Termini said.

The land sits north of Del Mar’s popular Dog Beach, south of Solana Beach, and west of the Del Mar Fairgrounds.

“It’s essentially a large triangular-shaped property and because of its shape it creates spectacular views in multiple directions,” said Robert Green, President and CEO of the Robert Green Company.

According to Zephyr and The Robert Green Company, plans are not finalized, but include a luxury resort, branded resort villas, restaurants and meeting space.

Both Green and Termini are local San Diegans. Termini lives a quarter-mile from the site and Green was born and raised in San Diego.

Termini said he’s been walking by the site for years with his dog, just looking at this site and thinking about what he could build there.

He and Green plan to hold a series of public meetings to get input from the public before starting to build.

Del Mar Beauty

Remember when Carson Palmer bought the hilltop lot in Del Mar at auction for $4,000,000, plus the 10% buyer’s premium?  This is what he built:

Word on the street was there were offers that were close, but no sale – it was listed on the range $19,995,000 to $24,995,000.

The home is currently off-market.

Zillow 2017 Forecasts

2017-la-jolla

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It’s that time of the year – the 2017 forecasts are starting to roll out!

Zillow has been conservative about our local markets.  For the most part, the actual appreciation of the Zillow Home Value Index has been higher than their forecasts over the last two years.

Their local forecasts for 2017 are all lower than their 2016 guesses, and what they are predicting could also be described as ‘Flatsville’.  If their local forecasts of +0.9% to +2.2% come true, it would mean that several sellers would end up selling for less than they could have gotten in 2016.

Are we ready for that yet?

Local ZHVI-Appreciation Forecasts

Town
2015 Forecast/Actual
2016 Forecast/Actual
2017 Forecast
Carlsbad
+2.7%/+4.8%
+1.9%/+3.8%
+1.3%
Carmel Valley
+0.3%/+5.4%
+1.4%/+1.9%
+0.9%
Del Mar
+5.5%/+1.1%
+1.4%/+2.6%
+1.1%
Encinitas
+0.6%/+8.3%
+2.4%/+6.3%
+2.2%
La Jolla
+2.7%/+6.6%
+2.3%/+6.1%
+2.1%
RSF
+0.4%/+11.1%
+3.7%/-0.5%
+1.9%
San Diego
+1.7%/+6.4%
+2.1%/+4.0%
+1.7%
Solana Beach
+2.7%/+6.4%
+2.2%/+2.6%
+1.4%

The Zillow data changes slightly, depending on where you look on their website, and whether you use town names or zip codes. Here is the LINK to find others.

encinitas-2017

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