We live in Del Mar and are also going through a search for something a little bigger with more space for the kids but staying within the Del Mar Union School district for elementary and the San Dieguito school district for middle school and high school (we love both districts and have had outstanding experiences with both).
We don’t want a gigantic megahome in Carmel Valley (plus we believe most of those prices will continue to fall). However, I agree, it is always tempting when you wander in to a newly decorated Derby Hill Plan 3, and we start to think, “well, maybe this would be okay if it was on a nice canyon view lot” but, those go for $1.7 or so (without upgrades) for the bigger view lot, which is the only way we could stand to be in that kind of cookie-cutter, wedged-in environment. No way. Even though we could afford it, we won’t do it because we just cannot imagine that those will hold their value, not to mention that we find ourselves cringing every time we drive through (which should be a definite gut-check to remind ourselves how we’d feel living there)!
So, our search continues for the perfect 3500ish sf home with good design and quality interior on a nice lot – it is not easy, even in a much higher price range than yours. They are very few and far between. We now find ourselves focusing on looking for fixers on exceptional lots in good locations, but it seems many others are looking for the same thing so we run up against multiple offers. The ones that are available for long are not being sold at fixer prices if you count on approx. $250-300/sf for construction costs, which we feel is realistic (and we’ve now done the fixer route 3 times over the past 20 yrs). For example, what you saw on Sun Valley Rd is a perfect example – I think I know that property and there’s no way you can build there with landscaping and all the other stuff (I think it even needs septic, if I recall correctly) for less than $1.5, unless you’re a developer/builder. I don’t know about your subdividing idea…Del Mar, Solana Beach and RSF almost never allow it, but it’s always worth checking.
Anyway, back to your original question about properties in the area for $800,000 or so – have you checked out Del Mar, just west of the 5 and just south of Del Mar Heights Rd, bordered by Calais Dr on the east and Portofino Dr on the west? There are some nice streets and small cul de sacs in that neighborhood that have older, smaller homes on good sized lots. Our kids go to school with many families from that area and they love it. Many of the homes are dated and need sprucing up (or in some cases, major overhauls), but will go for the $800ish range. There was one that just sold on Calais Dr somewhere in the mid-800’s that was definitely liveable as is but also had good future potential. I think it was around 2000 sf or a little more. Another came on the market in the last couple weeks on Barbados Way for $825,000. A friend of mine saw it and said it had good potential…from the listing, it looks like it’s a 1527 sf house on a 12,600 sf lot, and I’ll be surprised if it lasts for long. I know other families who live on Barbados Way, which is a quiet cul de sac, and they love it.
One major caveat about that area – I am not completely tuned in to the current discussion about the widening of I-5, which if it happens, is definitely going to impact people who live on Portofino, and maybe streets further east. Even now, there is a road noise issue in some parts of that area, but you need to check out each property individually to see what it’s like because it varies widely. The house I’m referring to on Barbados Way is on the east side of the street and is probably well-protected from major noise. I know you want a fully done house for the $800,000 price, but if you can put a little money into this one, it may be a good way to get you into the school district.
However, if waiting is an option, why not just hang out and see what happens? In my opinion (as with many on this board), prices will continue to soften and may even eventually go into a freefall, so if you’re in a position to wait it out, that’s the smartest way to go. None of these properties are going anywhere too fast, although a good fixer does sometimes get multiple offers. Still, there will be another one to come along.
I would also suggest checking out the older neighborhood just north of Del Mar Heights Rd and east of 5, off of High Bluff Rd where you can find some decent prices on older homes with bigger lots, but that area is part of Solana Beach School District. It comes as a surprise to many people that the homes in neighborhoods along DM Heights Rd on the north side are part of Solana Beach School District and not Del Mar Union School District. Solana Beach is a very good district, but if you’re looking for Del Mar schools (as in most of Carmel Valley such as Derby Hill and Torrey Hills area), you won’t be enrolled in them if you buy east of 1-5 and on the north side of DM Heights Rd. Sunset Pt Way and Evening Sky Court fall into that category.
Sun Valley Road area, which we also love, is very pricey and also, although it’s a Del Mar address, you will be in Solana Beach school district for elementary school. Many people love that area because it has a semi-rural feel like RSF and also has some horse properties, yet it’s more convenient than RSF, being closer to the 5 and the beach. You probably know this, but once your kids hit middle school, all Solana Beach, Del Mar, RSF kids go to schools in the San Dieguito Union High School district. Until that time, there are separate elementary districts.
Hope this is somewhat helpful. Good luck deciding your options! Sounds like any way you go, you’re in a good place.
