Foreclosure in 92024>Question Details

J. Couasnon, Home Buyer in Encinitas, CA

Is the market value for homes in the Encinitas area 92024 expected to hold a strong financial status for 07/8?

Asked by J. Couasnon, Encinitas, CA Sun Jun 17, 2007

I recently purchased a home in Encinitas in May '06, for 700k and did a major renovation upgrades/improvements inside and out and had it appraised 6mons. later at 827k. Does Encinitas hold a strong desirability for buyers wanting to purchase here like they did in the past? Has the value of homes decreased at all recently? What do you for see for 07-08 for the coastal properties holding their $?

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We have lived here and represent a Real Estate company that is three generations. We love Encinitas and believe that it has some of the best values in all of San Diego.
It seems to have been pretty much bullet proof even to this day when it comes to the downturn.
Are there certain homes and areas that may be more difficult to sell yes but that is pretty much everywhere. It has not happened much in Encinitas and therefore the value is pretty clear cut long term, short term, all term two thumbs up.
1 vote Thank Flag Link Wed Nov 14, 2007
Though the overall number of qualified buyers has declined since 2006, Encinitas still has strong buyer appeal. We recommend to our clients that in times of market turmoil, it is best to put money into blue chip investments.

Is Encinitas in blue chip territory?


The schools are excellent, the beaches are nearby and there is a wide choice in neighborhoods.

For additional information about Encinitas, visit and for real time market reports about Encinitas, click the link below:
0 votes Thank Flag Link Sat Jan 12, 2008
Roberta Murp…, Real Estate Pro in Carlsbad, CA
I think it should hold its value especially in the coastal areas. I see current prices at early 2004 levels in many areas of north county. Since 2004, how much has everything else gone up, such as gasoline, cars, other consumer goods, even montly rents. The fundamentals for San Diego are very sounds, in terms of unemployment, population growth, diverse industries etc. I don't know how far it can go down before buyers come back into the market, but as a real estate investor and realtor in the area, I run into properties daily that I wish I had the funds to purchase!
0 votes Thank Flag Link Tue Nov 20, 2007
Good question. And one that lots of folks are asking. None of us has a crystal ball so it is difficult to know, and we can only look at past and current trends to come up with an answer.

Generally improvements will reap you benefits, and certain things are more likely to pay back nearly what you put in, over the longer term (kitchens and baths). This can be offset in a declining market. And overimproving a home relative to neighbors will work against you.

Encinitas, like other coastal communities (Carlsbad, Solana Beach, Cardiff, Del Mar) remains a desirable, due to the climate, beaches, schools and general location. On average, median prices are down about 5% from January 2005, and during 2006 dipped lower, but have increased again and have been fairly stable since January 2007. I expect to see minor changes in pricing, unless we see dramatic changes in the inventory or the interest rates rise significantly.But we do not yet know the full impact of the short sale and foreclosure market. There may be some pockets of decline and it may be well into 2008 before we start sseeing a general improvement.
0 votes Thank Flag Link Tue Jul 3, 2007
You should be fine and make a good gain with your renovations. Anything along the coast right now is going to boom again soon as everybody desires to live close to the beach. So yes, I think their is a very strong desirability for home buyers in coastal North County. Home Values have decreased recently, but like Tony mentioned west of the 5 Freeway should maintain value well, especially with newer renovations!
Web Reference:
0 votes Thank Flag Link Thu Jun 21, 2007
One thing to keep in mind about upgrades and improvements is you will get most of the price you spend on improvements returned to you through an increase in property value if:
1. You don't over-improve for a neighborhood
2. You choose popular features in popular areas such as kitchen or bathroom remodels, new flooring, new paint, etc
3. The overall real estate market is flat or improving.

I've also seen that an appraised value for the purpose of a refinance is not the same as the market could be quite a bit higher or lower.

Home prices in general for North San Diego County Coastal properties have been flat or increased a bit through 2007, but we may have peaked for this year. Coastal properties(west of I5), unique homes, or those with larger lot sizes seem to be holding their values better. As Catherine mentioned, foreclosures and also short sales will continue for the next couple years. These types of sales will skew prices lower in certain markets where they make up a larger percentage of all the home sales. However, non-distressed sale situations, where a seller can wait the 3 months it takes to sell a home, will find that prices may hold fairly steady for the next couple years unless interest rates go above 7%.
0 votes Thank Flag Link Wed Jun 20, 2007
Encinitas is a very desireable location - But like almost all Real Estate in San Diego, it has lowered in value from 2006 prices. Because the foreclosures have not yet hit their peak due to easier lending standards in the industry, I believe 2008 will see continued declines in pricing.
0 votes Thank Flag Link Tue Jun 19, 2007
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