La Glorieta RSF
This just closed Monday for $3,250,000 – here’s my video from January, 2018:
Potential for Horses
A relatively-modest 2,758sf home on 2.07 acres closed for $2,350,000:
El Vuelo $39 Million
This is the first large-scale cinematic movie I’ve seen done by a San Diego realtor, and it’s inevitable that all the high-end listings will have to step it up. Hat tip to Richard for sending this in!
$10 Million…Twice
This is the 8,251sf home in Rancho Santa Fe that sold new for $10,600,000 in February, 2017, then resold a year later for $10,850,000 in October, 2017:
Spanish Colonial
The sellers might have been disappointed with the auction results here, but the final price seems about right. Gardens designed by Kate Sessions in the 1930s!
The video tour:
Welcome Kawhi
The LAT published the news yesterday that former SDSU star Kawhi Leonard recently bought a home in Rancho Santa Fe for $13,300,000 cash. Obviously, it sets him up to join the Lakers squad next year, and help return us to glory:
While we’re featuring purchases by pro athletes, an ex-Trojan/ex-Steeler bought this for $9,000,000 in October – I saw it and thought it was fantastic:
Local Zillow Forecasts
I snipped this Zillow forecast (above) in October, 2016. They expected La Jolla home values to go up 2.1% in 2017, which earned a ‘Very Cold’ label.
The La Jolla ZHVI rose 7% in 2017, so their forecast was a tad conservative. The index has been dropping lately, but they are expecting values to flatten:
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Other Zillow forecasts – they like Carmel Valley:
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You can find more data here (they predict the U.S. market will be +6.4%):
RSF Open House Report
Serious hardware!
Our open house went well and people appreciate seeing the old-Spanish style in a home of this size – there’s a lot to take in! We’re feeling it!
My Best Listing Ever
My new listing in Rancho Santa Fe! Authentic Old-Spanish custom estate with a legal 2-br guest house on 2.3 acres! Oozing with charm and character borrowed from the old California missions, this sensational one-story has open-beam ceilings, custom cabinetry, wine cellar, 4 fireplaces, and plenty of natural light! Newer infinity-edge pool/slide, outdoor party room, 3-stall barn, tack room, 2 arenas, and on horse trail. Secluded on gated flag lot, and on sewer too. Guest house has newer kitchen & HVAC plus a 2-car garage – wow! Trophy property!
LP = $3,995,000:
2br/1ba Guest House
Guest House interior
https://www.zillow.com/homedetails/17442-Via-De-Fortuna-Rancho-Santa-Fe-CA-92067/16731335_zpid/
The ‘Rancho’ Effect
People are feeling a ‘change’ in the market, and wonder what will happen. The rapid escalation of prices has turned real estate into a rich man’s game – and you need serious horsepower to participate!
As the rest of North San Diego County’s coastal housing market feels the ‘Rancho’ effect, we will see more listings coming to market, listings taking longer to sell, and bigger gaps between list prices and sales prices.
In the surrounding lower-priced areas, the action has been much faster – we’re used to the quality homes selling in the first week or two. Let’s compare RSF to Encinitas to demonstrate what we can expect from now on:
| Category | ||
| Population | ||
| Active Listings | ||
| October Solds | ||
| Actives/Solds | ||
| Oct Average DOM | ||
| Oct Average SP:LP |
We’ll have more homes on the market, slower market times, and bigger gaps between the list prices and sales prices. It’s how they do it in the Ranch!
Jim Klinge
Klinge Realty Group
Broker-Associate, Compass
Are you looking for an experienced agent to help you buy or sell a home?
Contact Jim the Realtor!
- 682 S. Coast Hwy 101, Suite #110
Encinitas, CA 92024 - (858) 997-3801 call or text
- klingerealty@gmail.com
CA DRE #01527365, CA DRE #00873197
