How much have prices risen in DMH 92014 since 2013?

[profhoff]

I’m tracking listings and solds closely in Del Mar Heights 92014 but the lack of solds is making it hard to figure out what a current listing is actually worth.

How can I figure out how much prices have increased since 2013, say? Is it about 10% a year so about 30%? What data could I look at to figure this out?

Zillow and Redfin have estimates, but they don’t agree with each other and seem very unstable.

Any thoughts?

[rb_engineer]

Which house? We can give our 2 cents on price…

[profhoff]

Here are two good examples. I’ve gone back and looked at the history of these and even found the photos and in some cases videos of what they looked like at each sale, plus I’ve seen the current versions in person.

My sense is that sellers want the maximum gain for upgrades they didn’t do! That seems crazy. OTOH, if prices have gone up and that’s the market, then they’ve gone up. I’m just trying to figure out how much.

http://www.sdlookup.com/MLS-160022709-14722_Caminito_Puntas_Arenas_Del_Mar_CA_92014

http://www.sdlookup.com/MLS-160026733-14121_Recuerdo_Del_Mar_CA_92014

[no_such_reality]

Depends, are you looking for a crappy 1/1 condo breathing freeway exhaust or a 3000 sf one story with ocean views and breeze?

Freeway breathers can be had for the $400-$500/sf range.

Freeway free non ocean viewers in the $500-$700/sf range but should be looking TV flipper finished.

And ocean viewers, and up.

Or probably more accurately, SFR freeway breathers are $1M-$1.2m.

not quite freeway breathers are $1.2-$1.5M

not quite all that ocean view, $1.5m-$2.0m

and more preferable, $2M+

The lower end may have a tile bathroom or brass like finish on a tub shower, but otherwise, they all are looking TV finished.

That’s just my take from a quickie look and sort on the last 90 days of sold on Redfin. Maybe an RA that works the area will weigh in.

Overall I’ve quit looking at the appreciation rate and just worry about what the market is at. What sold in 2010 and resells now is not the same house, even when its the same house.

Same is true for the 90s to now. Or even bubble boom. I remember looking at $1.3 million dollar homes where the kid room doors had gerbil chew marks on them. That not what’s selling now.

[profhoff]

This one just closed. I saw this one. It was unlivable as is, and in fact so bad, the seller had plans for a really nice house you could put in its place to help you envision the dream.

It had nice ocean views from the front rooms, as many on the “Riviera” in Del Mar do, since they are angled up and down the hilly street.

Closed for $1.736m. And you are talking gut renovation:
http://www.sdlookup.com/MLS-160016135-2205_La_Amatista_Del_Mar_CA_92014

[rb_engineer]

Look at this area in terms of lot value (for standard size).

Near freeway or major artery: <800K
Non-freeway east of crest canyon: 1M
West of crest: 1.2M and up
Old Del Mar 1.4M and up

Above that you are paying for the structure. I think the lot values have indeed gone up about 10% a year since 2013.

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