Hippie Hill Sold

by | Sep 21, 2023 | Encinitas, Leucadia, Local Flavor, Local Government | 1 comment

Paying $6.3 million is the biggest boondoggle since the city paid $10 million for the closed Pacific View school.

ENCINITAS, Calif. – City leaders in Encinitas are moving forward in their purchase of about 1.5 acres of land at La Costa Avenue and Highway 101, known to many as “Hippie Hill.”

“We wanted to see this land preserved and protected,” said Encinitas resident Elena Thompson. The purchase of the land is nearly official, with escrow expected to close by the end of September.

“Having the opportunity to acquire this land and keep it from being developed into timeshares, I think the community has very much appreciated the work that we’re doing here,” Mayor Tony Kranz said.

The northern end of Leucadia has seen the construction of a hotel and more development on the way including a nearby apartment complex, so the preservation of this land was paramount for long-time locals.

“Now it’s not going to be developed. That’s great for the city. It’s a small parcel, but every open space is great,” Scott Campbell said.

At Wednesday’s city council meeting, council talked about how they plan to finance the land, purchased for $6 million.

The city plans to use cash reserves for the initial purchase and then use lease revenue bonds to build the reserves back up.

“Some are a little concerned about what effect the roughly $400,000 a year that servicing this debt is going to have on our budget. I think that it’s important enough that we will make it work,” Kranz said.

The public will be asked to weigh in on what they want to see done with the open space at a future city council meeting.

https://fox5sandiego.com/news/local-news/city-of-encinitas-moves-forward-with-purchase-of-hippie-hill-for-6-million/

Oceanfront Custom Estate

by | Sep 16, 2023 | Bubbleinfo TV, Encinitas, Leucadia, Oceanfront

I did the quickie video tour – here is the full description:

Built from the ground up in 2016 with one of the largest oceanfront backyards in Encinitas with upper and lower sea wall framed in steel and concrete, 828 Neptune is not only a beautiful Tuscan estate perched atop one of the most magnificent strips of California coastline, it is one of the best constructed oceanfront sites in all of Encinitas. This 3 story, home features a custom wrought iron spiral staircase with a statement 27 foot Bocci glass chandelier, solid walnut plank flooring, Soffit ceilings, Venetian plaster wall finish with crown molding throughout, home theatre perfect for entertaining and frameless glass doors looking out to unobstructed Pacific Ocean views! The kitchen was designed by world-renowned Kitchen Expo – Rich Famie fully equipped with Wolf appliances, cherrywood cabinets, Phylrich & Hansgrohe oil rubbed bronze plumbing fixtures and Madagascar stone countertops with natural curves inspired by those of the ocean. The primary retreat is situated on the top floor overlooking the ocean with a spa-like primary bath featuring heated floors, towel heaters, a steam shower, jetted tub and sauna. From the atmospheric variable color change lighting throughout to the elevator with changing mosaic art on each floor (designed by Rick Sakalic); this home is not only a work of art but also inspired by the majestic beauty of its natural coastal surroundings with modern luxury conveniences. The home has a full home automation system to manage lighting, security, surveillance, audio/visual and window shades and a 3 car garage with a lift. This property is truly one of a kind in a prime location offering a lifestyle that is coveted by most but attained by few. Sold for $11,500,000 cash.

Not a great comp for this guy:

Link to WSJ article about 1230 Neptune priced at $28.75 million

Piraeus Point

by | Aug 28, 2023 | Encinitas, Local Government | 5 comments

Expect to see every city council throw their hands up and approve projects that have low-income housing included. How they sell the “very low” income units, and to whom, will be very interesting in Encinitas, due to them selling the last two units to the same guy who promised to rent them to the appropriate lower-income tenants.

Piraeus Point, a project consisting of nearly 150 townhomes at Piraeus Street and Plato Place in Leucadia, received 3-1 approval from the Encinitas City Council despite resounding opposition from the community.

At a City Council meeting Wednesday, public comments took over an hour. More than 15 people spoke, nine donated their speaking time to others and 10 registered opposition. Over 30 people gave input in one way or another, and none supported Lennar Homes’ plans for development. But the council said its hands were tied, ultimately denying an appeal of the project and allowing it to move forward.

Due to the housing shortage, the state legislature has passed laws making it easier to develop new housing. Piraeus Point fits the guidelines in the Housing Accountability Act, which requires developments to align with zoning laws, not adversely affect the water supply or public health and meet the standards of the California Environmental Quality Act and the California Coastal Act.

The Piraeus Point neighborhood would consist of 52 one-bedroom homes, 37 two-bedroom homes and 60 three-bedroom homes, with 15 of the homes reserved for “very low” income households. All units will be for sale, not for rent.

The Planning Commission approved the project, but the Encinitas Community Collective filed an appeal at the end of May arguing the development would, in fact, negatively impact the environment and public health.

Read the full article here:

https://thecoastnews.com/encinitas-reluctantly-oks-piraeus-point-over-community-opposition/

Summer 2023 Pricing

by | Jul 7, 2023 | 2023, Carlsbad, Carmel Valley, Encinitas, Sales and Price Check, Why You Should List With Jim


The local home pricing is still off the highs of early-2022, but not by much.

The smaller sample sizes (fewer sales) will make it harder to accurately identify the trends and cause more frustration/indecision for both buyers and sellers. Have we recovered, or just briefly paused the softness?

Most of all, it will expose the skill sets of realtors.

Get Good Help!

Survey results from our friends at 1000Watt:

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