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:
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.
A brief spin around the house while listening to upbeat music, which is just enough to pique your interest, and make a buyer want to schedule a tour of this 6,115sf estate that Brett has listed for $11,495,000:
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.
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
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.
It helps to demonstrate the comps, so I drove by the street that had the most recent sale – $1,470,000 last month for 1,668sf ($881/sf while we’re asking $815/sf). Th next-door neighbor confirmed that the new owners are spending another $500,000 for renovations.
I had the dog experience of the ages today. I’ve owned six dogs in my life, and as most of you know, the last one just died. I don’t have anything against dogs.
But the open house is a place of business. Every time I go to an open house, I identify myself as an agent, hand off my business card, and get out of the way – out of respect of knowing the agent on duty has a job to do with interviewing buyers, in hopes of selling the house.
It should occur to a buyer’s agent that bringing two dogs into an open house may be disruptive and distracting, and instead have some respect for the situation. A simple agent introduction would go a long way!
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