Tag Archives: Selling a Home in Carmel Valley

Another of San Diego’s Finest Neighborhoods, Carmel Valley. Here Is The Scoop -Rina Podolsky San Diego Exclusive Properties_ Carmel Valley Homes For Sale

1 Feb

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Carmel Valley is a community in San Diego county that has become one of the prime Neighborhoods for many reasons, from its privileged location just a short distance from the beach, it’s top ranking schools and it’s easy freeway access. It has fared better than many local areas through the Real Estate market ups and downs and continues to be a very sought after place to live.

  • LOCATION

Carmel Valley is bordered to the north by the North City Future Urbanizing Area (NCFUA) and Pacific Highlands Ranch; to the south by Los Peñasquitos Canyon Preserve and Torrey Hills; to the east by Pacific Highlands Ranch and Del Mar Mesa; and to the west by Interstate 5 and Torrey Pines. Nearby is the Torrey Pines State Preserve, where one of two stands of the endangered Torrey Pine is found to occur.

While many people in the area are now referring to the entire 92130 zip code as Carmel Valley, the actual boundaries of the community remain unchanged from the original community plan. The remainder of the 92130 zip code is filled by the surrounding communities of Del Mar Mesa, Pacific Highlands Ranch, and Torrey Hills.

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Original Carmel Valley Area Map

  • HISTORY

The earliest inhabitants of the area are believed to have been the earliest settlers in the region. There have been some artifacts found along the Carmel Creek area that are said to belong to this Native American tribe, confirming their settlement in the area, however, little is known about their life in this region.

Later in time, around the 1800 to 1900 the area was known as “Cordero” in it is where we find “Ranchers” it is thus known as the Rancho Period. The main activity in the region was producing and trading cattle hides and tallow. This was immediately followed by a period of agriculture became the main trade. At this time in history, we had the California Gold Rush going at full swing and some of these gold rushers did come to settle in the area, among those settlers we had the McGonigle Family who acquired  2,040 acres of what is today known Carmel Mountain preserve. It was then that the area became known as “McGonigle Valley.

Around the 1890’s the sisters of Mercy came from San Francisco down to the region. When they established themselves in the area they gave medical care to the McGonigle family and established a dispensary in 1000 acre parcel of land that they purchased from the same family. They also established a dairy farm and a vegetable garden. They also built a three story Victorian home that has played different roles through out time, it played the role of housing orphans, dispensary for the nuns and that is what later became Mercy Hospital, it later became a private home and horse ranch and most recently, after the Carmelites land was divided in two by the passing of the 56 freeway in the middle of their land, the home became property of the Chabbad center and it is currently on sale. The other half of the property houses a Church and burial grounds.

This nuns  from the Carmelite order and were instrumental in naming the area when they named a mountain “Carmel Mountain” and their ranch “Carmel Mountain Ranch” after it. That is how the area got it’s name.

Sisters of Mercy Victorian House

However in 1975 the area was mapped out and a plan was established it was named the “North City West Master Plan” and the name of the area was changed to North City West.

Construction in the area began in 1983 and by that time the original name had stuck to the region and so in 1990 the local planing board change the name back to Carmel Valley. The area is designated with the 92130 zip code.

Today Carmel Valley has grown to include surrounding areas such as: Torrey Hills, Del Mar Mesa and Pacific Highlands Ranch.

  • SHOPPING + ENTERTAINMENT

As of Today there are 3 main shopping Areas.

The largest is Del Mar Highlands Town Center It includes fast food restaurants such as Mc Donalds, El Pollo Loco and Rubio’s,  it also has Red Robin, Sammy’s Pizza and Champagne bakery, Starbucks and Chuao chocolatiers. It is divided in upper and lower level and houses some clothing boutiques, Gepetto’s Toy store,  an Aveda and a Barnes & Noble book store. It houses two major groceries stores, Ralphs and a Jimbo’s which is a more natural and organic store. This shopping center included the Carmel Valley Ultra star movie theaters, however they ar currently close for remodel and will re-open sometime this summer.

There is another shopping center called Piazza Carmel  It is a smaller plaza that includes Souplantation, Villa Capri a Vons grocery store, some boutiques and banks. Across the street you will find a Shell Gas station and a Pat & Oscar’s restaurant.

The other shopping area is  Torrey Hills Shopping Center located in the southern part of Carmel Valley, this plaza is the most recently built but it is also the smallest one, it has a Vons groceries store as well, Starbucks, an italian restaurant three banks and the Carmel Valley office of Windermere Exclusive Properties.

The Scoop is that there will be 3 more shopping areas built in Carmel Valley, 2 of them are expected to be big shopping centers. One is located on the corner of Del Mar Heights and El Camino Real right across of Del Mar Highlands Town Center and construction is expected to begin soon.

The other major shopping area that is expected to be built is in the Pacific Highlands Ranch Neighborhood, it is said that it will include some major department stores but no word yet on which ones or when it will be built.

Finally, in the corner of Carmel Mountain and Carmel Country, Pardee is building a new community, part of the land, the south-west corner of it to be precise, is designated to be commercial/retail, No word yet what stores will be there but it is a much smaller space.

There is also a little known secret, here is the Scoop there is an Organic Farm right in the middle of Carmel Valley called Sea Breeze Farms

Also coming to the neighborhood we have 3 restaurants opening their doors in 2011, all of the in Del Mar Highlands town center. Rimel’s Rotisserie, The Counter which will be a burger place, Searsucker a great downtown restaurant is also working on opening up a new restaurant as is Swirls, a yoghurt ice cream store.

The movie theater will re-open with a new concept of VIP theaters where patrons will be able to reserve their seat ahead of time and there will be drinks and dinner served to your seat.

There are many excerisze places that go from yoga and pilates studios to full out sport centers. There are 2 in particular that are worth mentioning:

Pacific Athletic Club – One of San Diego’s  finest sports resorts.

The Training Club – An innovative, high energy, and fun workout facility, totally committed to creating exercise programs for groups and individuals.

 

  • REAL ESTATE MARKET

There are currently 230 Homes listed as Active

Here is a brief chart of the current listing statistics

out of which 160 are Detaches homes 70 are attached

There are 33 homes showing as contingent (this is a recently added status that means an offer has been accepted by the buyer and an approval is being negotiated with the bank in the case of a short sale)

There are 62 homes in escrow or listed as pending

In the past 30 days there were 35 homes that Sold here is a chart to view the stats of past months sale

out of those 35, 22 were detached homes and 13 were attached

There are 224 properties in the public records list of homes in some stage of Foreclosure, you can search foreclosures here

In general this area has fared very well thru the Real Estate market downtown.

You will be able to find many different communities within the area and prices go from $205,000 to $7,980,000 but the average sales price is around $1,ooo,000. If you want to look for homes in this area be sure to check out this site

  • SCHOOLS
  • 

ELEMENTARY

There are 3 main School District operating in the area as far as elementary schools go.

Solana Beach School District

  • Solana Highlands: 3520 Long Run Drive; Office: 858.794.4300, Fax: 858.794.4350, CDC: 858.794.4377
  • Carmel Creek: 4210 Carmel Center Road; Office: (858) 794-4400, Fax: (858) 794-4450, Absence: (858) 794-4451, CDC: (858) 794-4477
  • Solana Pacific: 3901 Townsgate Drive; Office: (858) 794-4500, Fax: (858) 794-4550, CDC: (858) 794-4577, Absence: (858) 794-4551
  • Del Mar Union School District

    • Ashley Falls: 13030 Ashley Falls Drive; voice 858.259.7812, fax 858.259.1828
    • Carmel Del Mar: 12345 Carmel Park Drive; voice 858.481.6789, fax 858.481.7418
      
    • Del Mar Heights: 13555 Boquita Drive, Del Mar, CA 92014; voice:858.755.9367, fax:858.509.1412
    • Del Mar Hills: 14085 Mango Drive, Del Mar, CA 92014; voice: 858.755.9763, fax: 858.755.6107
    • Sage Canyon: 5290 Harvest Run Drive; voice: 858.481.7844, fax: 858.481.7949
    • Torrey Hills: 10830 Calle Mar de Mariposa; voice: 858.481.4266, fax: 858.481.0344
    • Sycamore Ridge: 5333 Old Carmel Valley Road; voice: 858-755-1060
    • Ocean Air: 11444 Canter Heights Drive; voice: 858.481.4040

    Poway Unified School District

    MIDDLE SCHOOL

    Both Solana Beach and Del Mar Union school districts merge when it comes to upper grades but Poway remains separate. We have:

      

    And Poway Unified School District

    HIGH SCHOOL

      

    And Poway Unified School District

    Only a very small section of Carmel Valley falls into the Poway School District designated boundaries and most people don’t even know that this is the case, so make sure you confirm that the home you are considering moving into falls into the boundaries of the school district that you are looking for. All of the schools in the area have received top rankings you can check the scores in this CA state website

    You will also find Private schools in Carmel Valley:

      

    If you have any other questions about Carmel Valley, would like any additional information or want information in any of the surrounding areas please feel free to contact me at : info@SanDiegoExclusiveProperties.com

     

     

    How You Can Transfer Your Lower Property Tax Basis To Your New Home -Rina Podolsky -Carmel Valley Real Estate Homes For Sale

    3 Dec

    For some people, the idea of buying a NEW HOME sounds appealing. They have their finances in order, qualify for a loan and have the Down Payment ready to go, but if they purchased their current home many years ago, they might end up paying a much higher property tax, and that might be stopping them from going forward with the purchase. For example, lets say a couple purchased a home in Rancho Santa Fe in 1995, they might have paid $800,000.00  and now they want to sell their Rancho Santa Fe property and  buy a home in Del Mar. The new home has a price of $1,500,000.00 and their current home will be selling for $2,500,000 so even though they are downsizing the property tax that they will be paying on the new house is almost double of what they are currently paying.

    There are two Propositions in the state of California that allow you to transfer your current tax base to your new property, those are prop 60 and prop 90.

    Now there is a catch, actually more than a catch there are several restrictions in order to qualify for either one of this propositions.

    1. One of the owners must be 55 years or older at the time of the sale of the original Property

    2.Both Properties have to have been or will be your principal residence.

    3.The Replacement property must be of “Equal or Lesser current market value” than the original property. You are not allowed to combine two separate properties as a total value even if both of you are selling two homes to purchase a new one together.

    4.The replacement property must be built (If new construction) or purchased, within two years of the sale of the original property (This may be two years before or after)

    5.The owner has to complete and file an application within 3 years of the purchase of the replacement property, or new construction completion date.

    This benefit can only be used once in your lifetime, unless you become severely disabled in which case there is a different exemption that applies (Proposition 110).

    So what is the difference between proposition 60 and Proposition 90?  Proposition 60 allows the tax transfer benefit only within the same county(intracounty). Whereas Proposition 90, will alow  transfers from one county to another county in California (intercounty) It is however at the discretion of the county to allow such transfers. Not all counties will accept applications for this proposition and you are required to fill out a form and follow a process, this transfer will not happen automatically.

    For more detailed information you can go to the California Board of Equalization Web Site http://www.boe.ca.gov/proptaxes/faqs/propositions60_90.htm#2 or ask your trusted CPA or Real Estate Lawyer.

    For any other questions or comments please feel free to contact us at www.SanDiegoExclusiveProperties.com

    How is the Market? Understanding The Case Schilling Report – Rina Podolsky Carmel Valley Homes For Sale-

    1 Dec

    As a real estate agent I often come in contact with people who ask me, How is the market? followed by a statement, I just saw the latest report saying…. Although some people do get the idea behind what the numbers show, often times they have either taken that information to be a prediction or have trouble understanding what the numbers really mean. What they really want to know most of the time is;  is it the right time to buy? should I sell my home now or wait a bit? Is it the right market to invest?  So I thought I share with all of you a glimpse as to how and why you should interpret this indicators with care, specially because what happens to Real Estate in New York City is very different than what happens to Real Estate in Carmel Valley Real Estate or La Jolla Real Estate or Rancho Santa Fe Real Estate.

    Case Schilling reported their numbers for the September behavior of the Market and it is calling it a “weak report” in fact they believe it is even weaker than last months report. However it is important to understand that they believe that this results are believed to be highly influenced by the end of the government’s incentive programs.  I believe this numbers were to be expected, many of the people who were ready to buy, did so in time to take advantage of all the government credits and incentives, pushing the number higher for several months. Another fact that might have influenced the numbers is the fact that the interest rates have been going down and people keep hearing of a new wave of foreclosures, and a possible second dip in home prices and because they have no time concerns after the credits expired, many people have gone back to sitting on the fences and waiting to have a clearer picture of how the market will be trending.

    Another important fact to take into consideration is that Case Schilling is reporting what has happened in the past few months, since this report came out, there has been some better than expected numbers from different indicators, Wall Street broke to pre crash levels, unemployment has started to shift, the government has said it will be pumping 600 million to re-invest , consumer confidence is higher than expected and so are the results of gains of many of the large corporations.

    I would like to point out that if you look at the graph, you can see that the 20 city index shows that the market is up above 2003 price levels. ” From their peak in June/July of 2006 through the trough in April 2009, the 10-City Composite is down 33.5% and the 20-City Composite is down 32.6%. Through September, they have recovered by +7.2%and +5.9%, respectively. The peak-to-date figures through September 2010 are -28.7% and -28.6%,respectively.” 

    Lastly, Case Schilling is a snapshot of the country, taken from 10 or 20 cities, it is important to understand that each market behaves differently. For example, if you look at the local San Diego market, you see that it actually is showing a 5.0% GAIN from the 2009 levels, not a loss by any means and if you take it a step further you can see that even within San Diego, you have to look at each area separately, some have had bigger gains, some have shown a steadier path through the whole crisis and some have shown some losses in the last months. This is why it is very important to know what you are looking at and be careful when you interpret any charts or information to make decisions based on them. Be sure to always ask an expert.

    If you would like to see more detailed information you can go to:  http://www.standardandpoors.com/servlet/BlobServer?blobheadername3=MDT-Type&blobcol=urldocumentfile&blobtable=SPComSecureDocument&blobheadervalue2=inline%3B+filename%3Ddownload.pdf&blobheadername2=Content-Disposition&blobheadervalue1=application%2Fpdf&blobkey=id&blobheadername1=content-type&blobwhere=1245262947491&blobheadervalue3=abinary%3B+charset%3DUTF-8&blobnocache=true

    Please feel free to contact us for any questions or you can go to our web site www.SanDiegoExclusiveProperties.com

    our facebook page : http://www.facebook.com/?sk=messages&tid=457977665291#!/group.php?gid=123662939207

    or follow me on twitter: http://twitter.com/RinaPodolsky

    September 2010 S&P/Case-Shiller Home Price IndicesS&P/Case-Shiller U.S. National Home Price Index

    New Real Estate practice “Private Transfer Fees”

    1 Oct

    When purchasing a new construction home directly from the builder, you go through a different process than when you buy a home as a re-sale property.

    Even in this market, where builders are trying to come up with incentives to sell their properties at  a faster pace, they are still the ones calling the shots on most of the terms of the transaction, specially when it comes down to the contract and legal terms to be used.

    In most cases this is understandable, it cuts legal cost, makes the process simpler and cleaner. However, you as a consumer should not take for granted that everything you are signing is standard and acceptable. There is for example a “Flip Tax” that some developers are attaching to some properties.

    What is the Flip Tax?  It is also called a Transfer tax and how it works is, you buy a house, when you try to sell it some years later, it turns out you have to pay a 1 percent to the builder of the home. This fee is written into the Rules and Regulations of the neighborhood and will remain in place for 99 years. During those years, every time this property is sold, the seller is required to pay the builder that 1 percent fee. What it really is, it’ a private Transfer Fee.

    Transfer fees are not entirely new, they have been in place for a while however they traditionally would go to a charity or to a Homeowners Association to be used for the maintenance or beautifying of the Neighborhood. What is entirely different in this case, is that the money goes back to the pockets of the developer as profit.

    Who came up with this concept is a company originally from Texas called Freehold Capital Partners. They are selling the concept to developers all across the country, and they are taking it one step further. The idea is to bundle this  properties and sell the revenue they promise to investors, giving the building company’s some upfront cash.Acording to their calculations each home will have a 5 percent income from future transfer fees.

    The way Freehold is selling this concept is by claiming that just like an author has monetary rights to their creations, so do the builders since they have created a beautiful home. According to Jennifer Hiller from express news, Freehold’s predecessor, Freehold Licensing actually attempted to sell this concept some years ago to independent homeowners. She said that on their website they wrote,“Maybe you planted a tree, added on a room or re-habed a home,” the Web site said in 2007. “Fifty years from now, when a family is enjoying the property that you improved, and making a profit by selling the property you improved, why shouldn’t you benefit? Of course you should.”

    So far there has been some effort to legislate this type of fee. Four states: Florida, Missouri, Oregon and Kansas have all banned such practices, other states such as California have imposed some limitations, Freehold has found a way to go around some of this limitations. 

    Critics say such fees could taint entire neighborhoods, making it difficult to sell homes, and could complicate title records for decades. If the fee is not paid by the seller, a lien is placed on the property and the title becomes muddy. This coul mark the neighborhood as hard to sel and there is the possibility of some legal action from some of the owners against such builders, if that happens this could also affect the chances of a potential buyer finding a loan for such property.

    Bottom line is, make sure you read what you are buying into, never assume that what you are signing has been reviewed and will protect you just because it has been signed by everyone else. And if you are not finding this clause in what you are reading, you should also ask the salesperson out right to make sure it is not there.