History of Carmel Valley, San Diego

Carmel Valley is a community located in San Diego county, on the North Coastal region.

It's early history is simple, it's first known human residents were the La Jolla Indians followed by missionaries when they were passing through on their way from one Mission to another. However the area was ranch land until developers bought the land to start building homes well into 1970's.

In February of 1975 the City Council approved a Master Planned Community to be built in the area, the original name for this community was "North City West" name that was changed in the early 1990's to Carmel Valley because there had been a monastery of the Carmelita's nuns in this area in the early 1900's and people already referred to the area as Carmel Valley. The idea was to build a community to become a model for other master planned communities to be built at later dates through out San Diego, this communities were to include plans for parks, recreation areas, trails, etc.

Wikipedia defines the geographic location as follows: "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

Even though people refer to all of the areas that wikipedia refers to as Carmel Valley as a whole, according to the city, the boundaries remain unchanged from the original plan, even when they share the same 92130 zip code and in some cases the same school district, some of these communities, like in the case of Pacific Highlands Ranch and Torrey Hills, are not proper Carmel Valley.

This area, has established a reputation for having not only a great location with easy access to major freeway's but close proximity to the ocean as well as to the Torrey Pines preserve and hiking trails. However, it is best known for it's award wining school district which has become to be identified with high parent participation. It is a very family oriented area.

There is sometimes some confusion with the name of the area because there is a Carmel Mountain area very close by located on the I-15 corridor and then there is another Carmel Valley in Northern California, adjacent to the City of Carmel on the Monterrey Peninsula.

There is still new construction going on in the area but at a much slower pace, both because of the times as well as the fact that land is becoming scarce and the area is being built out.

Carmel Valley is referd by some as the typical suburbia with it's most characteristic resident being the big SUV driving soccer mom carting kids around the area. Yet we also have offices, big corporations, hospitals and retail that make this area a very desirable place to live.

For more information regarding the area feel free to contact me or keep checking this blog where I will keep posting everything about this and other surrounding communities.

If you want to search for properties in this area feel free to use our web site
www.SanDiegoExclusiveProperties.com

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9 Easy steps to Buying a Home in this Market

SO YOU ARE THINKING OF BUYING A HOME…WHER DO YOU BEGIN?

9 Easy steps to purchasing a home in today’s market


1-Look at your reasons for homeownership and make an informed decision whether buying a home IS the right step for you at this time. If it is, determine your time frame.
2-Sit down and talk to a lender. Yes even before looking at a single property, get the facts of what you can afford in this market and which loan programs are out there and right for you (it might be more or less than you think). This will allow you to be very precise and save time and even hardship down the line. You will also be ready if you come across a great opportunity and want to make an offer right away.
3-Now that you know how much house you can afford and what limitations your loan has (i.e FHA loans will have strict guidelines and not all properties will qualify for this loans) Make sure you will have enough money in reserves after the purchase.
4-Sit down with the other people that will make the decisions with you and make a list with at least 3 categories: a) Things I NEED (must haves) b) Things I would LIKE (Nice if I could have) c)Things I could NOT accept (deal breakers). In this list you will asses what is important to you from the area to the numbers of bedrooms and Bathrooms. Try to make it as extensive and detailed as possible but then be willing to be flexible and open, this list will change through the process. It is O.K.
5-Start looking…If you have not contacted a Realtor up to this point, this is the time to do so, you want someone who will not only help you find a home (“apparently” not that hard to do on your own with the help of today’s technology) but will actually look after your best interest and give you guidance about the process, the specific areas, will be able to navigate this real estate market and all the different forms of listings that have come up in recent months (REO, Short Sales, Auctions, etc.) the market is changing day to day and you need a professional that is ahead of the game to know how to deal with each situation and to prepare you on what to expect , how long it might take, and how to make the right decision in each case.
6-Be prepared to start writing offers when you see a home you like. In order to do this your agent will help you determine the right offer depending on the particular circumstances. Not only money wise but timing, correct wording on the contract, order of paperwork it really does make a big difference when dealing with banks making the final decision.
7-Get an accepted offer (probably after a couple of offers and counter offers) Open an Escrow. This is where your agents Negotiation skills will come into play.
From this point on, there will be some deadlines to meet, your Realtor should have already sat down with you and explained the Escrow process and what comes next, including removal of contingencies and specific timeframes. There are inspections to be done, documentation to be gathered and funds to be handled….
8-Everything goes according to plan (usually there will be some bumps and unexpected turns down the line, but do not worry this is why you have a great agent or team of agents working on your behalf) Seller gets paid…you just got yourself a HOME!!!
9-Remeber to have fun!!! Try to enjoy the ride and be open to adjust the path during the process.

Torrey Hills Master Community

I will be sharing some information about different areas around San Diego, their history, local Restaurants ,schools, etc.

TORREY HILLS MASTER COMMUNITY

The planning area contains approximately 784 acres and is located in the northern region of the City. The community is bounded by Interstate 5 to the west, the Carmel Valley community to the north and east, and the Los Peñasquitos Canyon Preserve and Mira Mesa community to the south. West of Interstate 5 is the Torrey Pines community planning area.
The Torrey Hills area's planning history is tied to the planning efforts for Los Peñasquitos Canyon Preserve. For nearly ten years, prior to the adoption of the City of San Diego Progress Guide and General Plan in 1979, the City and County had been conducting studies on Los Peñasquitos Canyon as an open space park. During that period, the Carmel Valley community was being planned, and the Torrey Hills area was specifically excluded so as not to preempt the determination of a precise park boundary. By the time the City's Progress Guide and General Plan was adopted in 1979, the precise boundary of the park still had not been determined, and the Torrey Hills property was designated as Future Urbanizing on the General Plan until the boundary of the preserve could be determined.
In February 1980, Genstar-Peñasquitos (now AG Land Associates, LLC) dedicated a total of 1,806 acres of Los Peñasquitos Canyon to the City for use as a preserve. This action precisely defined the boundaries of the preserve as it borders the Torrey Hills property. This action subsequently cleared the way to initiate a community planning program for the Torrey Hills property and to amend the City's Progress Guide and General Plan which transferred the original plan area from Future Urbanizing to Planned Urbanizing.
Prior to 1986, approximately 178 acres located adjacent to the Torrey Hills community planning area was designated as "Future Urbanizing." On November 4, 1986, the citizens of San Diego approved a ballot measure which directed that a 166 acre parcel owned by the City and located at the western boundary of Los Peñasquitos Canyon Preserve adjacent to Interstate 5 be traded for 288 acres of privately owned land located adjacent to the preserve and just north of the area known as "The Falls." An additional 12 acres located between the 166 acre parcel and Interstate 5 was also incorporated into the ballot measure. This total 178 acre addition to Torrey Hills was referred to as the "Park Trade" property. Approval of the ballot measure resulted in a transfer of this property from Future Urbanizing to Planned Urbanizing.
In 1994, the City Council approved an amendment to the Torrey Hills Community Plan and the City's Progress Guide and General Plan which served to implement the results of the initiative, converting the Park Trade property from Future Urbanizing to Planned Urbanizing, and providing for expanded industrial and residential opportunities for the community. Other minor changes which occurred in the 1994 update included a restructuring of industrial uses diminishing the focus on professional office use; the inclusion of 1.3 acres previously shown within the Carmel Valley Neighborhood 8A Precise Plan; and the addition of Vista Sorrento Parkway, the northern extension of which provides north-south access through the community between Carmel Mountain Road and Sorrento Valley Boulevard.
In subsequent years the area devoted to industrial land uses has been reduced and concentrated in the western portion of the community, where easy access to Interstate 5 and Vista Sorrento Parkway is available. An amendment in 1997 provided a broader range of residential land uses, varying from apartments, condominiums and town homes, to smaller lot detached residential and single-family subdivisions. A Neighborhood Commercial Center was added, providing for retail commercial uses typically serving residential neighborhoods. Additional amendments since 1997 have also changed residential and industrial land uses in the western portion of the community.

By 2009 there are over 900 Homes divided in 12 communities, plus Over 1200 rental Units.
Torrey Hills is also home for a great number of office buildings including the offices for Cardinal Health among others

The local elementary schools are:

• Torrey Hills Elementary http://www.dmusd.org/torrey/
• Ocean Air Elementary http://www.dmusd.org/oceanair/

Current issues in the community:

• Sunrise powerlink project
• Torrey Reserve Project

Local Restaurants:

• Taste of Italy
• Daphne's
• Subway
• Zip Fusion
• Joey's Smokin BBQ
• Pick up Stix
• Starbucks
• Ruth's Chris Steak House

Stores

• Vons
• Beach Bungalow
• Art and framing by Munro Gallery

Banks

• Bank of America
• Union Bank
• Wells Fargo
• California Bank and Trust
• US Bank

There is also a medical building located inside the Torrey Hills Shopping Plaza.

Upcoming Events:

• March 12, 2009 Art and music Festival at Torrey Hills Elementary.

If you want any other information about this area or if you would like me to cover a specific area in future postings please let me know by leaving a comment on this post.

Enjoy your weekend!

Rina Podolsky

Carmel Valley Real Estate Market February-March Snapshot

Here is the activity in the 92130 area from February 09, 2009 to March 09, 2009.

Active Listings

• Total- 291
• Attached-86
• Detached-205

Pending Listings

• Total-67
• Attached-36
• Detached-31

Sold

• Total-25
• Attached-8
• Detached-17

HIGHEST

• Sale Price : $3,400,000
• Sale Price per Square Foot: $504
• Days On Market: 354

LOWEST

• Sale Price: $223,500
• Sale Price per Square Foot: $246.48
• Days on Market: 0

AVERAGE

• Sale Price: $747,906
• Price per Square foot: $350.57
• Day on Market: 55

New Listings : 108

FORECLOSURE ACTIVITY

There are 155 registered filings with the county out of which

• 25 Auction stage
• 101 Preforeclosure stage
• 29 Bank Owned Properties

Making sense of this numbers requires some in depth analysis. It is important to keep in mind that part of the spike in preforeclosed properties has something to do with the fact that due to the current process to renegotiate a loan requires the property owner to be in default on their mortgage. This also helps when the homeowner is considering selling their home but will need to be approved for a short sale.

It is interesting to see that:

-Out of the 25 properties in the Auction stage of the process, only 6 are detached properties, 1 appears as recently sold and 2 are pending sales.

-Out of the 29 Bank Owned properties, only 8 are detached properties.

-Out of the 101 preforeclosed properties exactly half of them are detached, 6 appear as currently pending.

-Out of the 29 Bank Owned Properties 4 are already pending 2 have recently Sold and at least 15 are not being listed at this point.

The fact that the current inventory has risen can be explained in part because of the natural cycle of the market, as we approach spring more people will list their house for sale. But it is also important to note that there has been a slight decline in the number of properties sold as compared with the 2 previous months. I believe this is due in part to tough lending practices that kept getting tighter. All the recent changes and incentives enacted by congress in recent weeks will be reflected in future closings, we can actually see some positive changes in the number of pending properties that actually went up slightly from previous months.

One more interesting fact that is hard to get data on is the fact that some of the latest sales from what I have seen myself and heard from many top agents, have been multiple offer negotiations.

Please feel free to contact me if you have any questions or if you would like to buy or sell a property in the San Diego area, I will be happy to help.

Best,

Rina Podolsky

858-692-1244

Note: All data has been taken from Sandicor MLS deemed reliable but not guaranteed by author

Architectural Masterpiece in Carmel Valley

Imagine yourself, relaxing on your upstairs terrace...sipping your favorite wine, and enjoying the beautiful sunset...

This home is a true architectural MASTERPIECE. It has a space for every need and then some. 5 BR, 6.5 BA, Media room, Game Room, Office, Workroom, Studio, Loggia, vanishing edge pool, glass fire pit,and so much more. The quality of the craftsmanship as well as that of the materials used is unsurpassed. This home was built with attention to even the smallest of details. It is located in Carmel Valley on the Del Mar Mesa area, inside a gated community right next to the Penasquitos canyon. The whole downstairs living area opens to the outside for a seamless outside / inside experience. If you would like a private showing contact me or you can join us for our first open house this following Sunday March 4 2009.

Please go to http://www.6667.duckpondlane.com/ for more information and to see a virtual tour of this property.

Best Regards,

Rina Podolsky
Rina@my858realtors.com

Carmel Valley's market Snapshot as of February 24, 2009

Here is a snapshot of Carmel Valley's Real Estate Market.

ACTIVE

• Total Listings 284
• Detached 195
• Attached/Town/Twin 89

PENDING

• Total Listings 59
• Detached 26
• Attached/Town/Twin 33

SOLD (January 24 -February 24, 2009)

• Total Listings 27
• Detached 23
• Attached/Town/Twin 1

STATISTICS

HIGH

• Selling Price $8,250,000.00
• Selling Price / Sq Ft $419.90
• Selling Price vs. Listing Price 100%
• Days on Market 232

LOW

• Selling Price $351,000.00
• Selling Price / Sq Ft $218.26
• Selling Price vs. Listing Price 83%
• Days on Market 3

AVERAGE

• Selling Price $1,068.86
• Selling Price / Sq Ft $327.66
• Selling Price vs. Listing Price 94%
• Days on Market 68

The information provided is intended to reflect what happened in the market for a brief period of time, it is useful as a analytical tool but it is important to keep in mind that it only reflects a short amount of time. For example last month a home did sell for $611.00 dlls per square foot. As with any data it is important to gather at least 3 months worth of information to get a clearer picture.

If you have any questions or would like to hear more about the local Real Estate Market, please feel free to contact me.

Also if you or someone you know is considering buying, selling or investing in Real Estate please contact me @ rina@my858realtor.com

You can also look for me in Twitter (rinapodolsky), befriend me on Facebook (Rina Pod) and our web site www.my858realtor.com

All information has been pulled from Sandicor MLS, all deemed reliable but not guaranteed.

2008 Statistical Data

I just got some Statistical information for 2008. It was given to me by First American Title Company. Here are some of the numbers



92130



SINGLE FAMILY HOMES



YEAR AVERAGESALES PRICE MEDIAN SALES PRICE NUMBER SOLD

2007 $1,136,065 $949,000 677

2008 $1,089,444 $925,000 530

-4.01 % -2.53 % -21.17%



CONDOS



YEAR AVERAGE SALES PRICE MEDIAN SALES PRICE NUMBER SOLD

2007 $516,192 $500,000 380

2008 $462,371 $459,500 245

-10.43% -8.10 % -35.53%




What I found even more interesting is All the statistical data broken down by Development in the Carmel Valley area. I am not going to go into everyone of them but you can contact me if you want any info on any particular one.



Now...for some important information....anyone know when is the Red Mango store opening in the Del Mar Highlands shopping center? It was about time we got some yogurt places in this area!

I appreciate your comments and questions, please keep the coming

Best,

Rina

What is the current inventory of homes in San Diego

One question that often comes up when talking about the current condition of the Real Estate market, is the Absorption Rate. The absorption rate can be defined as the time it would take the current inventory of homes to sell given the average selling pace of the past (typically six months, averaged).
The reason we do this is because it helps us to track trends in the market and thus figure out where it is heading.
However, absorption rate is NOT an exact science. Figuring it is based on the premise that one will be looking for a TREND. It is advised to consistently do the numbers each month, to be able to track a trend.
So... Absorption Rate (AR) = Number of Homes LISTED divided by Average number of homes SOLD Per Month over the past six months.

I did this exercise for 5 different areas today.* Here is what I have found:
1- Chula Vista

• ACTIVE: 1453
• SOLD:**278.50
• AR:5.21

2-Rancho Santa Fe

• ACTIVE: 254
• SOLD:** 9.6
• AR: 26.45

3-Carmel Valley

• ACTIVE: 215
• SOLD:**52.66
• AR: 4.08

4-Downtown San Diego

• ACTIVE: 570
• SOLD:**34
• AR: 16.76

5-Oceanside

• ACTIVE:1090
• SOLD:**232.83
• AR: 4.68

Doing the Same excessive for San Diego as a whole we get:

• ACTIVE: 15,945
• SOLD:**2758.66
• AR:5.78

In closing, we can see that we have areas with a very high AR while others are surprisingly low for a market that is perceived as a "Buyers Market". Typically speaking, a Buyer’s market exists when the absorption rate for homes exceeds six months; a Seller’s market exists when the absorption rate is fewer than six months, although that definition varies depending the source.

Once again, Happy Holidays and let me know if you would like any topic to be addressed in future posts.

*All data taken from MLS. This information might not include all listings available and sales recorded at the county.

**Average monthly Sales from past 6 months.

Rina Podolsky