Great deal on a house in the Poway Unified School District!
Excellent condition. Private back yard with view. Highly rated elementary school within walking distance.
And, best of all, the price has been SLASHED to $549,000!!!
|Anne-Marie & Geoffrey Schiering: The Schiering Team at Keller Williams Realty|
Nearby properties for sale
Your San Diego real estate professionals took time to give back to the community last week. Keller Williams Carmel Valley Del Mar Realtors conducted our second annual food drive for Military Outreach Ministries of Camp Pendleton. We collected more than 1,300 bags of groceries for needy military families, far surpassing our goal of 1,000 bags of groceries! The food will go to great use by the families who are on tight budgets while so many fathers and mothers are deployed in Iraq, Afghanistan, and elsewhere serving our country.
In this short one minute video, Anne-Marie Schiering of Keller Williams Realty shows the results of the hard work and generous donations from the San Diego community. The event is called “Red Day”, a day when Keller Williams agents Give Back to Our Communities.
Food donations were received from Carmel Valley, Del Mar, Solana Beach, Rancho Santa Fe, Encinitas, Cardiff, Carlsbad, La Jolla, University City, Rancho Penasquitos, Clairemont, and throughout San Diego County. Your Keller Williams real estate agents also took posts outside area grocery stores including Vons and Ralphs, where we received tremendous support from the community. We can’t thank you enough for your donations!
The community-centered philosophy of Keller Williams Realty is just one of the reasons that ours is the best real estate brokerage in the United States. Red Day is a nationwide event for Keller Williams agents. In addition to food drives, our agents build homes for Habitat for Humanity, pick up trash in parks, lakes and rivers, renovate houses in communities that have been hit hard with foreclosures, and pitch in wherever the communities need it most. For more information about Red Day and Keller Williams philosophies in general, please visit KW.com.
Special thanks go to our friends at St. Peter’s Episcopal Church in Del Mar, to neighbors in Rancho Penasquitos, and to our past clients. When we made the call that we “could use your help” so many of you responded that we were deeply moved by your friendship. Again, thank you for your support! We truly could not have done this without you.
Let’s stay in touch on Facebook! Click the link to the left. Visit Geoff & Anne-Marie’s San Diego Luxury Homes Facebook Fan Page and click “Like” to become a fan. Thanks again!
Your Rancho Penasquitos real estate professionals are excited to report on the 15th annual Fiesta de los Penasquitos which was held yesterday, Sunday May 2, 2010. The festival is a big highlight for residents of Rancho Penasquitos homes and the surrounding San Diego community. It is an opportunity for area musicians and students to showcase their talents, and is fun and entertaining for people of all ages. This year’s annual street festival drew approximately 15,000 people and was a great success.
This year’s performance schedule was packed with talent on three stages. My personal favorites were the performances by our local high school and middle school students. The Mariachi Griego de Montgomery Middle School was a big hit, with more than a dozen singers, horn players, and violinists lighting up the stage with classical mariachi music and ornate Mexican costumes. Westview High School was also well represented by the Westview Saxophone Quintet, which put on a great show of modern jazz. Other musical highlights included world music from TINKU-Latin Rhythm, Terry Matsuoka, the House of Puerto Rico (San Diego) and Zimbeat.
Dancers of all ages were featured on the Pavilion Stage throughout the day. The Rosie-Ritchie Academy of Irish Dance entertained with true Riverdance style. The young ladies from the Academy of Dance Arts put on two dramatic and well synchronized shows. The students from the City Ballet were graceful and inspirational. Step by Step dance and Giminny Kids also showcased their talents.
The Rancho Penasquitos martial arts academies also put on shows and generously offered vouchers for free martial arts classes. The students at United Studios of Self Defense and Swift Kick Martial Arts put on wonderful demonstrations discipline, strength, and coordination. It is no wonder that these martial arts programs are so popular with kids and their parents in Rancho Penasquitos.
Proceeds from the festival go toward grant awards to individuals and organizations that serve Rancho Penasquitos and the San Diego region. The event itself is free, but money is raised in the form of sponsorships and ticket sales for the rides, games, and attractions. This year’s sponsors included the Rancho Penasquitos Town Council, SDG&E, AT&T, The Home Depot, Doubletree Golf Resort, Bertrand’s Music, the San Diego Commission for Arts and Culture, and others.
The Fiesta de los Penasquitos is just another reason why Rancho Penasquitos homes are constantly in high demand. Perfect weather, great schools, and the friendly community atmosphere are just a few of the other reasons. If you have questions about Rancho Penasquitos or San Diego real estate in general, please drop us a line. We’re always glad to help!
Every year, residents of San Diego look forward to the Miramar Air Show on the first weekend of October. Nearly a quarter million people converge on the Miramar Marine Corps Air Station (MCAS Miramar) to view a well orchestrated display of aircraft acrobatics. Residents of Mira Mesa, Sorrento Valley, Clairemont and Scripps Ranch homes get backyard views of an assortment of jets, stunt planes, military transports, hand gliders, sky divers, sky writers, and thrilling fireworks. People from all over the Southwest come to San Diego to enjoy the show.
This year’s air show was held Friday October 2 through Sunday October 4. I was showing homes for sale in Rancho Penasquitos on Friday, and was able to see some planes from afar. With such nice weather, I really didn’t want to miss the event so I gathered up the family and headed to Miramar on Saturday.
After a year’s absence, the U.S. Navy Blue Angels Flight Demonstration Team returned to San Diego to headline the event. The sky was crystal clear on Saturday as the Blue Angels streaked and looped through a twenty-plus minute performance of high speed acrobatics. Your very own San Diego Realtor caught the great photo of the Blue Angels leaving smoke in formation right beside this year’s MCAS Miramar Air Show banner, above. The public may use these as free stock photos of San Diego to use on the web as long as the photo contains attribution in the form of a link back to this website.
The Canadian Snowbirds Jet Demonstration Team flew the event for the first time, and the 24-member group impressed the crowd with elegant maneuvers, including a tight nine jet formation. The Patriots Team of L-39 jets started the Saturday twilight show. As the sky darkened, the U.S. Army Golden Knights Parachute Team was a crowd pleaser. The paratroopers jumped from high altitudes, leaving smoke trails in artistic patterns as they accurately descend upon tiny targets below. Late in the day, at the twilight show on Saturday, the Golden Knights jumped at dusk, trailing sparks through the darkened San Diego sky.
The air show couldn’t have been a better success this year. After several years of clouds, the weather cooperated beautifully. The Marines always handle the massive crowds with care will also putting on an effective display of giant crowd control. It is an easy drive up I-15 to Miramar Way, and a slow roll into the parking area. Spectators then must endure a long walk from the parking lot to the flight line, which is only partially offset by the free shuttle bus routes. Most people just plan to do a lot of walking, but the walk is worth it.
One of the greatest things about living in San Diego, aside from the weather, of course, is the great number of entertainment options. I recommend taking a day away from the San Diego beach homes and joining the crowds at the Miramar Air Show. It really is fun for the whole family.
Los Penasquitos Canyon Preserve A Back Yard Blessing
When outdoor enthusiasts think about living in San Diego, the first things that usually come to mind are the ocean and the beaches. Not everyone realizes the extent of the recreational opportunities that are available in San Diego’s inland communities. There are lakes and parks throughout San Diego County which offer scenery, outdoor activities, or just some good old fashion peace and quiet. On a recent September morning I had the pleasure of hiking with my family in the Los Penasquitos Canyon Preserve, and the experience was worth writing home about.
The Los Penasquitos Canyon Preserve is a sprawling canyon park which stretches from the East side of Rancho Penasquitos (just East of I-15, essentially bordering Poway and Scripps Ranch), seven miles to the West side of Mira Mesa (almost to the ocean near homes in La Jolla and Del Mar). The East entrance is at the corner of Black Mountain Road and Mercy Road. Other convenient entrances are at Penasquitos Creek Park in Park Village (Rancho Penasquitos) or at Canyonside Park just South of the 56 on Black Mountain Road.
Encompassing approximately 4,000 acres, Los Penasquitos Canyon is shockingly large for a park that is basically right in the heart of North San Diego County. There are houses in Rancho Penasquitos, Mira Mesa, Sorrento Valley, and Carmel Valley homes that have canyon views, but hikers inside the canyon enjoy complete isolation. California Oaks, Sycamores, and other native plants line the interior of the canyon, and it feels like some far-away mountainside. Penasquitos Canyon Creek runs through the middle of the park, with wooden footbridge crossings in three locations.
Even on the busiest days there are remarkably few people in the canyon. The occasional mountain biker or hiker does pass by, but there are long stretches of complete privacy. Horse enthusiasts frequent the canyon for its long traffic-free trails, so you may pass a rider or two. My kids enjoy the opportunity to meet the horses and talk to the riders. But we most enjoy catching sights of the wildlife in the canyon, including mule deer, coyotes, ducks, great blue herons.
I frequently list homes for sale in Rancho Penasquitos and in Mira Mesa, and know that homes in these neighborhoods offer good value as compared to other San Diego real estate. It takes only about 15 minutes to drive from Rancho Penasquitos to the beach in Del Mar, and only about 20 minutes to Downtown San Diego. There are ocean breezes that blow through 56 Corridor, keeping the neighborhood cooler than other inland San Diego communities. There is plenty of shopping and restaurants. And anyone who is interested can enjoy the peaceful atmosphere and recreation available at Los Penasquitos Canyon Preserve.
Carmel Valley / East Del Mar
When looking at the upper-end of the San Diego real estate market, one thing is clear. There are lots of homes to choose from. A perfect example is in the Carmel Valley zip code 92130 where there are presently 221 houses for sale. Considering that there are only 5,995 detached homes for sale in all of San Diego County, Carmel Valley accounts for 3.7% of the detached single-family house listings in the San Diego MLS. The number is lower for condos and townhomes. The 62 condos for sale in Carmel Valley represent just 2.1% of the 2,982 condos for sale in San Diego County as a whole.
The absorption rate (approximate time to sell the existing inventory) in Carmel Valley is also larger than in San Diego as a whole. In June 2009, there were only 32 homes sold in Carmel Valley (almost a 7-month supply). This was 18% fewer sales than in June 2008. With the increased inventory and longer market times, the median sales price also slipped in June, far more than other parts of San Diego County where there is arguably a housing recovery underway. The median price of a home in Carmel Valley in June 2009 was 13.5% the June 2009 median price, and 30% below the June 2005 median price. Where there used to be none, there are currently 79 houses for sale in Carmel Valley that are priced under $1 Million.
Until recently, home prices in Carmel Valley had been pretty stable relative to the rest of San Diego. Carmel Valley (East Del Mar) has so many things going for it: top-rated schools, newer housing stock, good proximity to employment centers, freeways, and beaches, superb weather, lots of clean family-friendly parks, etc. And there is a much wider range of housing types in Carmel Valley; much more variety than the neighboring Rancho Penasquitos homes, previously discussed in Part I of the San Diego Real Estate Prices blog post. The most expensive home currently on the market in Carmel Valley is a 10,000+ square foot estate priced at $7,995,000 (this is a reduced price, down from $9,995,000). The lowest priced Carmel Valley house for sale is a 1,348 square foot home priced at $545,000. Due to the large variation of home styles and prices, the median price is a better gauge of market activity than the average price. The average price really becomes skewed whenever the large Carmel Valley luxury homes sell.
It’s hard to say when prices will stabilize in Carmel Valley. There were three times as many homes listed in Carmel Valley in June than were sold. However, there are currently twice as many homes in pending status than were sold in June. So July and August should show some higher median and average price numbers.
When priced right, Carmel Valley homes are still selling. The average time-on-market for the homes that sold in June 2009 was 59 days, and the median time-on-market was just 35 days. In June 2009 there wasn’t a single home that sold over asking price, and only a few homes sold at asking price. So the time is right to negotiate when buying a home in Carmel Valley or in any of the San Diego luxury homes communities.
I cringe when I read the newspaper or hear a report on the TV or radio that gives a median home price or average house price for San Diego County. This is a large and diverse area. San Diego home sales differ between neighborhoods almost as much as the San Diego terrains and microclimates. When we talk about San Diego weather, it can be cool and cloudy at the beach but hot and sunny just a few miles inland. On a few January days, you might be playing golf without a jacket and then later that evening drive up to enjoy a few snowflakes on Mt Laguna.
The same holds true in the San Diego real estate market with the different types of San Diego homes. Inventory is low and moving quickly in some areas and price levels, but still languishing in others.
So what are the hot areas of the San Diego real estate market? Where are the sales still slow? Over the next few days, I’ll update you on activity in several neighborhoods.
Rancho Penasquitos Houses (zip code 92129)
In June 2009, the number of houses sold in Rancho Penasquitos was up 10% from June 2008. That’s not saying much, because only 33 Rancho Penasquitos homes sold in June 2009; which was just 3 more than in June 2008.
The newspapers frequently report based on “median price.” The median price of homes is not a particularly useful number, because median simply means there was an equal number that sold above the median price and below the median price. The median price of homes in Rancho Penasquitos was $548,000 in June 2009. That’s 21.7% below the median reached at the top of the market in June 2005, and just 4.3% lower than the median in June 2008. But in May 2009 the median price in Rancho Penasquitos had spiked to $640,000 from just $520,000 in April 2009. So it takes a deeper analysis to get a feel for what’s going on in the San Diego real estate market.
The median number of days on market for the June 2009 Rancho Penasquitos home sales was just 15 days, which is less than half the time that it took to sell a house in Rancho Penasquitos in June 2008. When evaluating market times the median number of days on market is more instructive than the average market time because short sales linger on the market during the bank approval process. Banks are incredibly slow to respond to short sale applications, with an average response time of 6 months or more. So the median of 15 days means that at least half of the Rancho Penasquitos homes sold in less than 2 weeks. That’s hardly any time at all when it comes to real estate sales.
The “market turnover” figure tells a similar story. In June 2009, 40 homes were listed for sale in PQ. As of today (July 14) 18 of the June listings are already under contract. There currently are 47 active listings of houses in zip code 92129. So, in other words, based upon the June sales volume, there is currently a 1.4 month supply of homes for sale in Rancho Penasquitos. The typical rule of thumb is that anything less than 2 months of inventory is a seller’s market. A 6-month supply of homes is considered to be a “normal” market in equilibrium.
There are an additional 30 house listings in “contingent” status in 92129. A “Contingent” listing is a bank-owned foreclosure (REO) or short sale property that has one or more offers awaiting approval from the bank. The sale is therefore contingent upon bank approval (Pending Bank Approval). Even adding the 30 Contingent Listings to the 47 active listings, there is still only a 2.1 month supply of homes for sale in Rancho Penasquitos.
Overbidding: Many homes sold in PQ during the month of June, particularly those priced under $550,000, received multiple offers. 10 of the 16 houses that were listed below $550,000 sold at or above asking price.
Mortgage Financing: According to the MLS statistics, four-fifths of the homes that sold in PQ during June 2009 were financed with conventional mortgages. Conventional mortgage loan guidelines require a 20% down payment, so the overwhelming majority of Rancho Penasquitos home owners are putting around $100,000 down on their purchases. This bodes well for future stability of the neighborhood. The remaining one-fifth of these Rancho Penasquitos home purchases were financed with FHA or VA loans. There were no all-cash purchases that closed escrow in 92129 during June 2009.
These numbers (along with subjective assessments by Rancho Penasquitos Realtors) indicate that Rancho Penasquitos is likely to see sustained price increases in the coming months. This assumes that there won’t be a major influx of new listings to boost supply beyond demand, and also assumes that interest rates stay at the current low levels (low 5% range for 30-year fixed mortgages).
One of the greatest things about living in San Diego is that there is always plenty to do, especially around the holidays. One of my favorite holidays in San Diego is the Fourth of July. This year was no exception. We chose to celebrate Independence Day the old-fashion way, at the Old-Fashioned Fourth celebration at Old Poway Park. People with homes in Poway know that their community is a great place to party, and visitors will surely agree.
The Fourth of July is a time for reflection. It’s a time to think about our past: about the American Revolution which made everything possible for the United States of America, about the Civil War which furthered the cause of liberty in our country, about the Transcontinental Railroad which tied California to the East Coast, and about the struggles and achievements in our more recent past, like those lived out by our grandparents and their parents during the Great Depression and World War II. All of these memories came to life in Poway this past Saturday.
The Fourth of July fun in Poway began around 10am. People dressed in period costumes like Civil War soldiers, old western cowboys and hoop skirted ladies, red and white candy-striped musicians, and even old Uncle Sam in his top hat flooded Old Poway Park with color and with colorful personalities. Craft booths were spread throughout the park to allow children to create American Flags, star-studded noisemakers, and other patriotic mementos. Volunteers manned the booths to help and encourage any children who wanted to participate.
Several Poway clubs set up booths offering food and sweets at historically low prices. Snowcones were $1, Ice Cream Sundays $2, and full lunches with freshly grilled hot dogs, chips, baked beans, and a drink were just $5 for adults or free to children and veterans. No one went hungry at this Fourth of July celebration, and no one really checked tickets for the hot dog lunches anyway.
One very interesting booth was staffed by Civil War soldiers who were eager to discuss their 19th century armaments. Safely unloaded replicas of the Enfield Percussion Rifle, the Springfield Musket, and the Burnside Carbine were just a few of the weapons on display. The friendly “soldiers” where more than happy to put the guns into the hands of anyone who was interested in getting a better feel for their military heritage. The soldiers also rehearsed and safely fired a Civil War cannon on several occasions during the day, putting quite a boom into the celebration.
The music was also outstanding and appropriate. Bands set up on stage beneath the covered gazebo in the center of the park. The Dixie Strutters, dressed in festive red and white candy stripes, played gloriously with a highlight banjo performance by a 94-year-old gentleman who’s “still got it” to say the least. Nanette and the Hotsie Totsie Boys followed with some outstanding early 20th Century jazz and swing. Nanette with her flapper dress and wonderful voice can really get a crowd humming. Jack Johnson & the Hank Williams Trio followed with a wonderful country music performance.
Throughout the day, the trademark Baldwin Steam “Engine No. 3” made its whistling rounds around the park with a steady stream of passengers. Every other trip would stop beside the working blacksmith’s shop to enjoy the theatrical performance of train robbers in a shootout with the western marshals who foiled the holdup every time. Before leaving we stopped to pose for a photo with Uncle Sam, who couldn’t have fit the role more perfectly.
In the evening there were more than 20 fireworks around San Diego to choose from. There were fireworks in Poway also just up the road in Rancho Bernardo. But we have a favorite fireworks location. From the cliffs beside some Del Mar homes we were able to see multiple fireworks displays along the coast. Watching fireworks and smelling the ocean air was a great nightcap to a perfect day in Poway.
Poway prides itself for its small-town atmosphere. Situated between the neighboring San Diego suburbs of Rancho Bernardo to the North, Rancho Penasquitos homes to the East, and Scripps Ranch to the South, you can’t help but feel that there is something unique about Poway. The Fourth of July at Old Poway Park was a great illustration of what makes the community special. It is the good people of Poway who welcome strangers, who take pride in their past, and who work together to make present-day San Diego a better place to live.
San Diego CA has long been known as “America’s Finest City.” Anyone who has been to San Diego has some inclination as to why this is true. Perfect weather, an abundance of activities, clean beaches with great surf, excellent restaurants and nightlife, top-notch schools, and friendly people are the first things that come to mind for most people. But it is always difficult to give statistical support to that subjective belief. It is, however, instructive to look at statistics that are available for crime rates and schools when evaluating San Diego homes.
Neighborhood safety is a key concern of anyone looking to buy a home in San Diego, or anywhere else for that matter. Knowledgeable San Diego Realtors refer prospective home buyers to the Automated Regional Justice Information System. This database was established in 1980 by a joint task force of the San Diego Association of Governments (SANDAG) and its local, state, and federal law enforcement agencies to compile crime statistics for San Diego County’s 18 incorporated cities.
According to ARJIS, crime rates in San Diego County (both violent crime and property crimes) dropped to a 25-year low in 2008. Last year there were only three property offenses per 1,000 people, and four violent offenses per 1,000 people. Since 1995 San Diego has had a lower property crime rate than the average national rate, and that number of property crimes has decreased in San Diego for five years in a row. Despite the fact that San Diego is the seventh largest city in the United States, it has the fourth-lowest violent crime rate in the nation and the sixth-lowest property crime rate in the nation.
San Diego is a large city made up of a number of smaller communities and neighborhoods. One champion of neighborhood statistics is Dr. Andrew Schiller, who is best known for the Case-Schiller index of house prices which appears regularly in newspapers across the country. Dr. Schiller is president of Location, Inc., a Rhode Island based company that compiles numerous statistics for cities and neighborhoods across the country. Their reports appear at NeighborhoodScout.com, which yesterday posted a report which lists the 25 Most Dangerous Neighborhoods in America. San Diego is not on the list, and it is one of the few large United States cities that not represented there.
NeighborhoodScout also compiles other neighborhood statistics, including the top 100 Best Performing Public Schools in the United States. Here San Diego is included. San Dieguito High Academy in Encinitas, Coronado High in Coronado, and Canyon Crest Academy in Carmel Valley are each recognized as being in this elite field of public schools. No San Diego area schools appear on the list of 100 Worst Performing Public Schools.
Detailed information about schools serving any particular street address in San Diego can be found on the San Diego Unified School District’s Website (Click on Enrollment Options –> School Finder). Other top-rated public schools in San Diego County are in the Poway Unified School District which serves Poway, Rancho Penasquitos, and Rancho Bernardo, and the San Dieguito Union High School District which serves Rancho Santa Fe, Solana Beach, Encinitas, Cardiff by the Sea, and Del Mar.
What are the top reasons why San Diego is your favorite city? Please submit your comments and let everyone know how you feel.
The San Diego Association of Realtors released the May 2009 home sales statistics on June 11. These numbers have been anxiously awaited by San Diego real estate professionals. And for some reason the SDAR delayed posting the numbers on their website until June 11, but backdated the post to June 5. It seems like the numbers were almost too good to believe, and they needed an extra week to digest and verify the numbers.
The median price of detached homes in San Diego CA in May increased 1.49% from April, to $340,000 on volume of 1,786 houses sold (volume down 1.81 percent from 1,819 homes sold in April). The average price of a detached home increased 4.22 percent to $452,355. The news for attached San Diego condos and townhomes was even better. The median price of attached homes increased 13.33 percent from April to $256,277 (volume down 0.44 percent from 909 sold in April). The average price of attached homes in San Diego during the month of May increased 6.66% to $256,277.
This is the fifth month in a row that the median price of homes for sale in San Diego has increased. This is starting to look like a real trend. Five months of sustained upward price activity is not easy to discount.
Much of the buying activity has been in the lower end of the market, with entry-level homes priced under $400,000. We’ve been asked whether all of the sales are from “bottom feeders” looking for the best deals on the lowest-priced houses and condos in San Diego County. So we wanted to take a closer look at the numbers to see where a handful of mid-to-upper priced San Diego neighborhoods stand.
It turns out that some of these more expensive San Diego neighborhoods also experienced significant price increases from April to May. The median price of Del Mar houses is up 81.46%, La Jolla houses up 10.37%, Poway houses up 19.8%, Rancho Santa Fe houses up 21.26%, Solana Beach houses up 79.57%, Pacific Beach houses up 6.06%, and Rancho Penasquitos houses up 23.08%.
We also suspected that the recent price increases might be overshadowed by year-to-date price declines. But the reality is better than we expected. Comparing the May 2009 median prices to the May 2008 median prices, Del Mar houses are up 33.46%, Poway houses up 11.01%, Solana Beach houses up 16.65%, and Rancho Penasquitos houses up 11.30%. Here are the median home prices in April and May, along with the number of homes sold, the percent change from April, and the percent change from May 2008:
|92067||Rancho Santa Fe||10||$2,637,500||15||$2,175,000||21.26%||-6.55%|
This is looking like very good news for the future of the San Diego real estate market, and hopefully other major real estate markets in the U.S. will soon follow suit. In San Diego County there is presently very strong demand and short supply. Interest rates are still very low, but trending upward. There could be more foreclosure properties for sale in the near future, but assuming the banks don’t dump all of their inventory at once, there seems to be ample demand to absorb new foreclosure inventory without pushing prices substantially lower. Only time will tell. We’ll keep you posted.
Submit your comments and let us know what you think.