I own a lot in Santaluz and am just starting back up on plans I put on hold in 05. The design review process seems to be much simpler and smoother now – lots less people doing it. On top of that, construction prices are down. The most important thing is to find an architect who knows the process and not skimp on the cost in that area.
The neighborhood is a bit in distress just given the vintage of the homes. Pricing is definitely down though some of the higher end homes are moving (one at 5.9M went pending today). The sales have seemed to be strong lately – I’ve been more actively watching it the last 6-9 months.
The amenities are not why we bought here. It is the privacy and lot sizes, and low density. We live in Ladera Ranch in Orange County and the amenities don’t compare in Santaluz. The family events are OK but the neighborhood is actually considered very family friendly for San Diego.
I’ve also heard the club is holding steady on members but isn’t growing. They’ve funded the club appropriately so I haven’t heard any viability concerns at all but maybe that’s because I’m not asking the right person. Ask to see the financials.
