New Encinitas House Hunter

[Nicole]

Hi there, I’ve been lurking around on this site for awhile and would love to have everyone’s opinion on the Encinitas housing market and a particular property.

My husband and I are 1st time home buyers and both work in the medical field (so we have no clue about real estate). Could you give us some advice about the area? We currently have a 30- yr loan locked at 6.25% and are approved for $680,000. We could probably stretch up to $700,000 but would rather not.

We have been focusing our search in the 4 areas that surround the El Camino Real/Encinitas intersection. We think that we like the area East of El Camino Real and South of Encinitas best. But have considered the other NE, NW, and SW areas of the intersection.

I’d appreciate any info about the quality of schools and any tips about individual neighborhoods in these areas. Also, how much square footage can we expect in our price range? Thanks so much for your help.

[CA renter]

IMHO, that area of Encinitas is one of the most overpriced areas because most of the residents there are “regular people” who probably earn between $50K and $100K per household. This location has experienced some of the more dramatic price drops in Encinitas because it was the most unsustainable and is the “entry” market in Enc.

I think prices in the NE area (relative to ECR/Enc Blvd intersection) will drop to around $230K-$300K and prices in the SE area will be slightly above this (because the houses and lots are generally larger).

There have been a few better-looking listings lately, compared to peak prices, so if you are seriously considering buying right now, try to get something under $500K for a 3/2. I would highly recommend waiting at least another year, and try to time your purchase around November, as seasonal factors do make a difference.

[CA renter]

IMHO, that area of Encinitas is one of the most overpriced areas because most of the residents there are “regular people” who probably earn between $50K and $100K per household. This location has experienced some of the more dramatic price drops in Encinitas because it was the most unsustainable and is the “entry” market in Enc.

I think prices in the NE area (relative to ECR/Enc Blvd intersection) will drop to around $230K-$300K and prices in the SE area will be slightly above this (because the houses and lots are generally larger).

There have been a few better-looking listings lately, compared to peak prices, so if you are seriously considering buying right now, try to get something under $500K for a 3/2. I would highly recommend waiting at least another year, and try to time your purchase around November, as seasonal factors do make a difference.

[CA renter]

IMHO, that area of Encinitas is one of the most overpriced areas because most of the residents there are “regular people” who probably earn between $50K and $100K per household. This location has experienced some of the more dramatic price drops in Encinitas because it was the most unsustainable and is the “entry” market in Enc.

I think prices in the NE area (relative to ECR/Enc Blvd intersection) will drop to around $230K-$300K and prices in the SE area will be slightly above this (because the houses and lots are generally larger).

There have been a few better-looking listings lately, compared to peak prices, so if you are seriously considering buying right now, try to get something under $500K for a 3/2. I would highly recommend waiting at least another year, and try to time your purchase around November, as seasonal factors do make a difference.

[CA renter]

IMHO, that area of Encinitas is one of the most overpriced areas because most of the residents there are “regular people” who probably earn between $50K and $100K per household. This location has experienced some of the more dramatic price drops in Encinitas because it was the most unsustainable and is the “entry” market in Enc.

I think prices in the NE area (relative to ECR/Enc Blvd intersection) will drop to around $230K-$300K and prices in the SE area will be slightly above this (because the houses and lots are generally larger).

There have been a few better-looking listings lately, compared to peak prices, so if you are seriously considering buying right now, try to get something under $500K for a 3/2. I would highly recommend waiting at least another year, and try to time your purchase around November, as seasonal factors do make a difference.

[CA renter]

IMHO, that area of Encinitas is one of the most overpriced areas because most of the residents there are “regular people” who probably earn between $50K and $100K per household. This location has experienced some of the more dramatic price drops in Encinitas because it was the most unsustainable and is the “entry” market in Enc.

I think prices in the NE area (relative to ECR/Enc Blvd intersection) will drop to around $230K-$300K and prices in the SE area will be slightly above this (because the houses and lots are generally larger).

There have been a few better-looking listings lately, compared to peak prices, so if you are seriously considering buying right now, try to get something under $500K for a 3/2. I would highly recommend waiting at least another year, and try to time your purchase around November, as seasonal factors do make a difference.

[SD Realtor]

Hi Nesposito –

I have been up there alot lately for two clients. I could not agree more with the previous poster about prices dropping there over the next few years. I don’t know how far that they will drop so I will not make any bold predictions about that. All I would say is that there is so much inventory in that area that you have mentioned that it is really inevitable. From a supply/demand point of view you are really in the catbird seat if you can wait. You mentioned that you are already locked into a particular loan so that would imply you have already made an offer on a home. Is there a particular home you are thinking about or want information on.

SD Realtor

[SD Realtor]

Hi Nesposito –

I have been up there alot lately for two clients. I could not agree more with the previous poster about prices dropping there over the next few years. I don’t know how far that they will drop so I will not make any bold predictions about that. All I would say is that there is so much inventory in that area that you have mentioned that it is really inevitable. From a supply/demand point of view you are really in the catbird seat if you can wait. You mentioned that you are already locked into a particular loan so that would imply you have already made an offer on a home. Is there a particular home you are thinking about or want information on.

SD Realtor

[SD Realtor]

Hi Nesposito –

I have been up there alot lately for two clients. I could not agree more with the previous poster about prices dropping there over the next few years. I don’t know how far that they will drop so I will not make any bold predictions about that. All I would say is that there is so much inventory in that area that you have mentioned that it is really inevitable. From a supply/demand point of view you are really in the catbird seat if you can wait. You mentioned that you are already locked into a particular loan so that would imply you have already made an offer on a home. Is there a particular home you are thinking about or want information on.

SD Realtor

[SD Realtor]

Hi Nesposito –

I have been up there alot lately for two clients. I could not agree more with the previous poster about prices dropping there over the next few years. I don’t know how far that they will drop so I will not make any bold predictions about that. All I would say is that there is so much inventory in that area that you have mentioned that it is really inevitable. From a supply/demand point of view you are really in the catbird seat if you can wait. You mentioned that you are already locked into a particular loan so that would imply you have already made an offer on a home. Is there a particular home you are thinking about or want information on.

SD Realtor

[SD Realtor]

Hi Nesposito –

I have been up there alot lately for two clients. I could not agree more with the previous poster about prices dropping there over the next few years. I don’t know how far that they will drop so I will not make any bold predictions about that. All I would say is that there is so much inventory in that area that you have mentioned that it is really inevitable. From a supply/demand point of view you are really in the catbird seat if you can wait. You mentioned that you are already locked into a particular loan so that would imply you have already made an offer on a home. Is there a particular home you are thinking about or want information on.

SD Realtor

[waiting for bottom]

I am confused. I agree that Encinitas is overpriced, and it hasn’t fallen much. Why does everyone talk about high inventry and lowering prices in Encinitas? I am looking for a 4 bed with 200 sq ft built any year but somewhat updated….and I get very few houses. Best one I have been able to find is $800K and is in the Flora Vista/Digueno school area. House should be $400K at best IMHO.

What gives?

[waiting for bottom]

I am confused. I agree that Encinitas is overpriced, and it hasn’t fallen much. Why does everyone talk about high inventry and lowering prices in Encinitas? I am looking for a 4 bed with 200 sq ft built any year but somewhat updated….and I get very few houses. Best one I have been able to find is $800K and is in the Flora Vista/Digueno school area. House should be $400K at best IMHO.

What gives?

[waiting for bottom]

I am confused. I agree that Encinitas is overpriced, and it hasn’t fallen much. Why does everyone talk about high inventry and lowering prices in Encinitas? I am looking for a 4 bed with 200 sq ft built any year but somewhat updated….and I get very few houses. Best one I have been able to find is $800K and is in the Flora Vista/Digueno school area. House should be $400K at best IMHO.

What gives?

[waiting for bottom]

I am confused. I agree that Encinitas is overpriced, and it hasn’t fallen much. Why does everyone talk about high inventry and lowering prices in Encinitas? I am looking for a 4 bed with 200 sq ft built any year but somewhat updated….and I get very few houses. Best one I have been able to find is $800K and is in the Flora Vista/Digueno school area. House should be $400K at best IMHO.

What gives?

[Author]

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