[quote=profhoff]Wondering how all this activity will impact west of 5/east of 5 values.
I’m wondering what all you real estate experts think about what will happen to east of 5 property values?
West of 5 is skyrocketing – I mean there are properties on Eolus in the high two – three millions!
Del Mar Heights is solidly at $3m+ for the fancy flips.
Cardiff homes near the composer district are flying off the shelf in mid-two millions.
Will this *permanently* influence values east of 5, or is east of 5 a bubble waiting to pop?
New construction off Urania near Leucadia Blvd and east of 5 is almost mid-2s. Shea just listed the model off Leucadia Blvd just north of Urania for $2.
Even Caudor, Sparta area is getting pretty pricey.
For as long as I can remember (decades and decades), west of 5 is like a meditation mantra for North County Coastal real estate.
Will the current real estate situation change that?[/quote]
Sold a good friend a place west of 5 in Encinitas around 2011. I’d put the deal against anything anyone has bought in the last 10 years along NCC as the best anyone got anywhere. Paid just over $1m and it’s now well over $3m. It’s also not replicable anywhere around here. Literally a gated estate that looks like it could be in Brentwood.
East of the five is just as hot. Maybe some minor retracement at some point but not coming down in a big way. I’ve been predicting this for years. This place has fundamentally changed and been discovered by the masses. Wait till the new hotel opens and really rich people find out what’s here. Hope you were well advised over the years and got yourself something great too
