This Richard Requa-designed house sold for $990,000 in 2001, and then for $1,550,000 in 2004.
The buyer completed the downstairs project, which added about 1,000sf. Then in 2006 he resold it for $3,100,000 on what looks to be an AITD wrap, where the new buyer put down $150,000 and took over payments on the existing mortgages which totaled around $2,500,000, and the seller carried the difference.
In 2009 that buyer quitclaimed the house back to the seller, and you can guess what happened:
This should demonstrate the depth of the $700,000-buyer pool for Southeast Carlsbad – of the 24 houses sold this year in La Costa Oaks, only one has closed under $700,000 (Adam’s, which was even closer to El Camino Real). At one spot in the kitchen I got so excited I repeated myself:
Another reason Carmel Valley has been so hot is because of the competition nearby.
Fairbanks Ranch is the neighbor to the north of Carmel Valley’s 92130 zip code, before you get to Rancho Santa Fe. While CV has newer tract houses on smaller lots, in Fairbanks Ranch almost all of the lots are over an acre, and have custom-built estate homes. Here’s an example:
