[OROG]

I voted NO on this proposition, it sucks. I did not like the prop 19 negative impact on inheritance to begin with, and realize taxpayers are again getting played with another pitch of ‘do it for first responders, the kids, the schools’… This one seems to be a Prop 13 overkill and I bet there’s more to come.

Mom and Pop landlords who plan for their kids to be the same may consider raising rents more aggressively to absorb any future property tax consequences. This would depend on asset planning though. Low rents to minimize turnover may not be considered as much. Therefore, I think SD will be more expensive due to prop 19. Higher rents may cause more renters to become home buyers, reduce MOI etc… When we normalize after Cov 19, I predict in 18 months most will realize this prop 19 impact.

Here is an email I just received from a law firm I used recently, which I’ll contact soon because of prop 19. Figured some of you may find this bit information to be useful:

Urgent! California Property Tax Laws Changing and What You Can Do to Protect Your Family

Do you have appreciated California real estate that you plan to leave to your children? If you’re hoping they will keep your low property tax basis, please read on – this is extremely time sensitive. 
California’s Proposition 19, passed earlier this month, has dramatically changed how you can leave or give California real estate to your children. Effective February 15, 2021, most gift, trust, or inheritance transfers of real property will trigger reassessment, resulting in your children incurring much higher property taxes for all the years they will own the property. We can help you protect your property from this costly reassessment if you schedule an appointment with us as soon as possible.
 
This change affects both your principal residence and your investment property.
 
If your home is worth less than a million dollars over its assessed value AND you’re sure one of your children will live there, you don’t need to make a change. But if your home has appreciated by more than a million dollars OR if your children might not want to make it their primary residence, it is urgent that you make an appointment with us.
 
If you have investment property — regardless of its value — that you’d like your children to keep, it’s important that you meet with us to preserve their ability to benefit from the rental income without paying the bulk of it to the county each year in property taxes.
 
If you expect that your children will liquidate whatever real estate you leave them, you don’t need to make a change. But if you expect that they will keep it, please contact our office as soon as possible to discuss your options. WE NEED TO FILE ALL CHANGES BY JANUARY 30, 2021, SO TIME IS OF THE ESSENCE. The attorney in our firm who will be counseling on this issue is (OMITTED). Her counseling fees will be billed hourly at $375/hour, billed to the tenth of the hour, and then the transfers will be done on a flat fee basis.
 
Our office is closed for Thanksgiving, but will reopen on November 30, 2020. In the meantime, have a wonderful Thanksgiving…even though this has been a tough year, I hope you find plenty to be thankful for. We are very thankful for your trust and confidence in our firm!
 
Sincerely, 
(OMITTED)

[OROG]

I lived in Otay Ranch for many years and would recommend it. Your feelings about the landfill is understood, we lived a couple of miles from there and it was not a problem. I doubt any of Otay Ranch is built ON a landfill. Before living there, I routinely rode mountain bikes when the area was bare land and there were many cattle that roamed the hills. We have historical photos of bean fields in the area, didn’t see landfills in the pics. I think the operating landfill is all you’d need to stay clear of. I have colleges who enjoy Santee which is near the Sycamore landfill. I have friends who live(d) near the closed Chollas landfill without any issues.

Otay Ranch and neighboring communities have great value for the newer homes and amenities. The hiking trails are well manicured with nice landscape. Schools are great as well. Accountability reports would be the tell all for details you’d be looking for.

Also, Otay Ranch does extend east past the shopping mall which is a few miles from the landfill… My experienced two cents…

[OROG]

Out of curiousity, I checked recent sells in 92114 and came across a property, which is in the VP zip code. I think it was good ‘diamond in the rough’ purchase for 1.36 acres, the listing agent gave an excellent description. This place is less than a mile to the freeway or trolley. There’s only one traffic signal and a ramp signal for freeway access.

https://www.realtor.com/realestateandhomes-detail/6300-Scimitar-Dr_San-Diego_CA_92114_M17073-35720

Also, there are plenty of skilled laborers and domestics near these areas. May not sound good to the nimby folks, but good for flippers or rental investors. May be a good place to retire vs leaving SD for lower cost cities…

[OROG]

Nowhere is safe, some places are just safer than others. I would definitely purchase in these areas. I think there will be more appeal in these areas soon because of the proximities to downtown and has low prices for SFHs.

If you’re familiar with Diego (Daygo), the areas of Golden Hill / South Park, North Park, City Heights, Clairemont (lived there, best part of SD IMO), Linda Vista (Little Vietnam), were undesirable to moderately desireable during the years you mentioned due to crime. They are great areas these days, Tavara Ridge in Clairemont had recent sells of $1.5M & $1.68M for that bomb ass model!

A month ago I went to a function at Morse High in VP, Adam Jones the MLB player was there, comfy with his Lambo Aventador ($400k msrp). I departed west on Skyline Dr. and showed my daughter the amazing bay and downtown views from the hills of VP. It dawned on me, the price for view homes in VP are 50 – 75 % lower than Golden Hills and northern SD neighborhoods with comparable views.

I just mapped the downtown commute from a friend’s address in Paradise Hills to Petco Park, came up as a 15 minute drive. On friend’s street, there is a new KB Homes development starting at $650k.

Here’s one fixer view home in VP. The views from the area would be better seen in person:
https://www.realtor.com/realestateandhomes-detail/5526-Encina-Dr_San-Diego_CA_92114_M21715-94832#photo15

I’m not an agent. Just giving opinions.

[OROG]

My prediction is (jaws will drop), it’ll be the region of East Chula Vista, Otay Ranch, Eastlake, and the border area which is part of the City of San Diego including Brown Field. The missing requirement is a University, but Chula Vista has acquired 375 acres for a University and Innovation District.

The infrastucture in East Chula is great and MTS is expanding services to link downtown SD, East Chula and the Otay port of entry: http://www.keepsandiegomoving.com/SouthBayRapid_Home/south_bay_rapid1.aspx

Also, for added appeal: http://www.sandiegouniontribune.com/business/tourism/sd-fi-chula-convention-20170620-story.html

SD is getting some consideration for Amazon’s expansion: http://www.nbcsandiego.com/news/local/Amazon-Signs-Lease-For-New-Office-in–444475563.html

[Author]

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