Carlsbad Real Estate News and Views: California: Rancho Santa Fe

As a buyer or seller in the Rancho Santa Fe real estate market, having information about the current market conditions will enable you to make an informed decisionregarding what to do with regard to buying a home in Rancho Santa Fe, or selling your Rancho Santa Fe home. 

The Rancho Santa Fe real estate market is very localized, and the most expensive community, on average, in San Diego County, and knowing what is going on in the market with regard to inventory and sales is important for making a buying or selling decision. Finding comparables for determining price for either a listing or a purchase can sometimes be tricky. 

READ MORE:  Rancho Santa Fe - Luxury Home Buyer's Paradise in San Diego

Here is a summary of the Rancho Santa Fe real estate market for November 2009 based on information provided by the MLS (private sales are not included). These data are deemed reliable but are not guaranteed. 

The number of homes sold in Rancho Santa Fe in October increased over the previous month. As is common in expensive communities, the marketing time remains fairly high but dropped significantly across the board.

 As of the end of November there were 9 homes in the Rancho Santa Fe real estate market with a Contingent status (i.e., short sale and REO homes that had offers being reviewed by the lenders), 1 less than last month. Until approved these homes are considered active and, thus, are included in the Active statistics below.

As of November 2009 there were 345 Ranch Santa Fe homes for sale (94% of these are detached), a 6% decline from October (following a 3% from September). This represents an inventory of 8 months for attached homes (up about 1 month), but 28.9 months for detached homes at the current rate of sales (based on a 6-month period), which is, however, down from 30.9 months in October, which had dropped from September.     

Fewer Rancho Santa Fe homes came on the market in November, 29 as opposed to 43 in September, with 10 homes (down 37%) going pending during the same period. 

While higher end homes are selling in the Rancho Santa Fe real estate market (relative to their average price), all the sales thus far this year are under $10 million. There are currently 15 homes on the market in the $10 to $30 million range, some of which have been on the market more than 1 year and 2 for well more than 2 years.

READ MORE: How Important is Inventory when Buying or Selling? Very!! 

Data are based on information provided by the MLS for homes that went under contract in the last couple of months. If you would like more details about the Rancho Santa Fe real estate market with regard to current activity as well as the specific areas such as Fairbanks Ranch and the Covenant, please let me know. 

READ MORE:

Rancho Santa Fe Real Estate - Rancho Santa Fe Real Estate Market Report for October 2009

Ranch Santa Fe Real Estate Market Report for September 2009

 Rancho Santa Fe Real Estate Market Report for August 2009

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If I can provide more information about Rancho Santa Fe real estate and surrounding areas, or the housing market in general, or otherwise assist you in your homes search, please contact me by phone or text at (760) 840-1360 or email me at JDowler@remax.net.

All content copyright © 2009 Jeff Dowler "The California Relocation Dude" Carlsbad Homes and Real Estate Tidbits

As a buyer or seller in the Rancho Santa Fe real estate market, having information about the current market conditions will enable you to make an informed decision regarding what to do with regard to buying a home in Rancho Santa Fe, or selling your Rancho Santa Fe home. 

The Rancho Santa Fe real estate market is very localized, and the most expensive community, on average, in San Diego County, and knowing what is going on in the market with regard to inventory and sales is important for making a buying or selling decision. Finding comparables for determining price for either a listing or a purchase can sometimes be tricky. 

READ MORE:  Rancho Santa Fe - Luxury Residential Community in SouthernCalifornia

Here is a summary of the Rancho Santa Fe real estate market for October 2009 based on information provided by the MLS (private sales are not included). These data are deemed reliable but are not guaranteed. 

*Only 1 home sold so no average calculated nor change in average pricing.

The number of homes sold in Rancho Santa Fe in October was just slightly less than in the previous month. As is common in expensive communities, the marketing time remains fairly high and, in fact, rose substantially for homes sold in October. Two of the 11 detached homes sold were REOs. 50% of the homes sold in October were cash transactions.

 As of the end of October there were 10 homes in the Rancho Santa Fe real estate market with a Contingent status (i.e., short sale and REO homes that had offers being reviewed by the lenders), 2 more than last month. Until approved these homes are considered active and, thus, are included in the Active statistics below.

As of October 2009 there were 345 Ranch Santa Fe homes for sale (95% of these are detached), a 3% decline from September. This represents an inventory of 6.9 months for attached homes (down a couple of months), but 30.9 months for detached homes at the current rate of sales (based on a 6-month period), which is, however, down from 36 months in September. 

43 Rancho Santa Fe homes came on the market in October, about 1/3 more than in September, with 16 homes going pending during the same period, twice the number going pending last month. 

While higher end homes are selling in RSF (relative to their average price), all the sales thus far this year are under $10 million. There are currently 14 homes on the market in the $10 to $29 million range, some of which have been on the market more than 1 year and 2 for well more than 2 years.

READ MORE: How Important is Inventory when Buying or Selling? Very!! 

Data are based on information provided by the MLS for homes that went under contract in the last couple of months. If you would like more details about the Rancho Santa Fe real estate market with regard to current activity as well as the specific areas such as Fairbanks Ranch and the Covenant, please let me know. 

READ MORE:

Ranch Santa Fe Real Estate Market Report for September 2009

 Rancho Santa Fe Real Estate Market Report for August 2009

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     Subscribe in a reader

If I can provide more information about Rancho Santa Fe real estate and surrounding areas, or the housing market in general, or otherwise assist you in your homes search, please contact me by phone or text at (760) 840-1360 or email me at JDowler@remax.net.

All content copyright © 2009 Jeff Dowler "The California Relocation Dude" Carlsbad Homes and Real Estate Tidbits

As a buyer or seller in the Rancho Santa Fe real estate market, having information about the current market conditions will enable you to make an informed decision regarding what to do with regard to buying a home in Rancho Santa Fe, or selling your Rancho Santa Fe home. 

The Rancho Santa Fe real estate market is very localized, and the most expensive community, on average, in San Diego County, and knowing what is going on in the market with regard to inventory and sales is important for making a buying or selling decision. Finding comparables for determining price for either a listing or a purchase can sometimes be tricky. 

READ MORE:  Rancho Santa Fe - Luxury Residential Community in SouthernCalifornia

Here is a summary of the Rancho Santa Fe real estate market for September 2009 based on information provided by the MLS (private sales are not included). These data are deemed reliable but are not guaranteed. 

The number of homes sold in Rancho Santa Fe in September is the same as August. As is somewhat common in expensive communities, the marketing time remains fairly high, although lower than in many other areas in the US. Two of the detached home sales were REOs; of the attached properties both were distress sales - 1 REO and 1 short sale, both selling for under $650K.

As of the end of September there were 8 homes in the Rancho Santa Fe real estate market with a Contingent status (i.e., short sale and REO homes that had offers being reviewed by the lenders), with no change from August. Until approved these homes are considered active and, thus, are included in the Active statistics below.

As of September 2009 there were 354 Ranch Santa Fe homes for sale (94% of these are detached), a 5% decline from August. This represents an inventory of 11 months for attached homes (minor change), but 36 months for detached homes at the current rate of sales (based on a 6-month period), down 7months from August. 

36 Rancho Santa Fe homes came on the market in September, 33% fewer than in August, with 8 homes going pending during the same period, almost half the number going pending in August. 

While higher end homes are selling in RSF (relative to their average price), all the sales thus far this year are under $8 million. There are currently 15 homes on the market in the $10 to $35 million range, some of which have been on the market more than 1 year and several over 2 years.

READ MORE: How Important is Inventory when Buying or Selling? Very!! 

Data are based on information provided by the MLS for homes that went under contract in the last couple of months. If you would like more details about the Rancho Santa Fe real estate market with regard to current activity as well as the specific areas such as Fairbanks Ranch and the Covenant, please let me know. 

READ MORE: Rancho Santa Fe Real Estate Market Report for August 2009

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     Subscribe in a reader

If I can provide more information about Rancho Santa Fe real estate and surrounding areas, or the housing market in general, or otherwise assist you in your homes search, please contact me by phone or text at (760) 840-1360 or email me at JDowler@remax.net.

All content copyright © 2009 Jeff Dowler Carlsbad Homes and Real Estate Tidbits

As a buyer or seller in the Rancho Santa Fe real estate market, having information about the current market conditions will enable you to make an informed decision regarding what to do with regard to buying a home in Rancho Santa Fe, or selling your Rancho Santa Fe home. 

The Rancho Santa Fe real estate market is very localized, and the most expensive community, on average, in San Diego County, and knowing what is going on in the market with regard to inventory and sales is important for making a buying or selling decision. Finding comparables for determining price for either a listing or a purchase can sometimes be tricky. 

READ MORE:  Rancho Santa Fe - Luxury Home Buyers Paradise in San Diego

Here is a summary of the Rancho Santa Fe real estate market for August 2009 based on information provided by the MLS (private sales are not included). These data are deemed reliable but are not guaranteed. 

The number of homes sold in Rancho Santa Fe in August declined from July by 3. But because of the small number of homes sold, it would be unwise to draw any firm conclusions of the pricing or other trends. Similarly, while the average price for detached homes increased significantly, this average is impacted by sale of a home over $5 million. As is somewhat common in expensive communities, the marketing time remains fairly high, although in RSF it is lower than in many other areas in the US.

As of the end of August there were 8 homes in the Rancho Santa Fe real estate market with a Contingent status (i.e., short sale and REO homes that had offers being reviewed by the lenders). Until approved these homes are considered active and, thus, are included in the Active statistics below.

As of August 2009 there were 372 Ranch Santa Fe homes for sale (354 detached homes, and 18 attached homes). This represents an inventory of 10.8 months for attached homes, but 42 months (3.5 years) for detached homes at the current rate of sales (based on a 6-month period). 

54 Ranch Santa Fe homes came on the market in August (47 detached, 7 attached), with 15 homes going pending during the same period -14 detached and 1 attached. 

While high end homes are selling in RSF, all the sales thus far this year were under $8 million. There are currently 25 homes on the market in the $10 to $35 million range, some of which have been on the market more than 1 year and several over 2 years.

READ MORE: How Important is Inventory when Buying or Selling? Very!! 

Data are based on information provided by the MLS for homes that went under contract in the last couple of months. If you would like more details about the Rancho Santa Fe real estate market with regard to current activity as well as the specific areas such as Fairbanks Ranch and the Covenant, please let me know. 

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Subscribe in a reader

If I can provide more information about Rancho Santa Fe real estate and surrounding areas, or the housing market in general, or otherwise assist you in your homes search, please contact me by phone or text at (760) 840-1360 or email me at JDowler@remax.net.

All content copyright © 2009 Jeff Dowler Carlsbad Homes and Real Estate Tidbits

Controversy is brewing in Rancho Santa Fe, the most expensive community in San Diego County (median home price as of 12/31 07 was about $2.9 million) and one of the priciest in the US.

Seems the community, some of it that is (primarily the Rancho Santa Fe Covenant), is pushing for the area to become incorporated as a Town and to include 8 surrounding HOAs. This is a long process, perhaps 18 months to 2 years for review, and requires voter approval (25% must approve the petition, which is then forwarded with an application to the San Diego Local Area Formation Commission [LAFCO] for review, environmental studies, hearings, and ultimately a general election).

It costs money, too…about $500K, which will be forgiven if the incorporation does not get approved.

There are supposedly some advantages to being incorporated, which have to do with government, for one. Instead of San Diego County, Rancho Santa Fe would have its own government, and responsibility for the services that are currently maintained by the county. Other purported advantages, according to the Citizens to Protect the Ranch (CPR – cute, huh?) website who favor the change, include:

• Improvement of the roads and traffic management – making their own decision about roadways, speed bumps, speed limits and signage, and improving some of the area roads (to include sound deadening asphalt)
• Improvement of law enforcement and public safety – increase patrols, faster response time
• Protect the rural environment that currently exists and is so appealing about the community

There are presumably other benefits that tie into the use of taxes and related matters (see their website for more details).

Now I don’t live there so I am looking at this as an outsider, but what I find particularly interesting in who is to be included in this incorporation and who is not. Rancho Santa Fe is a very prestigious and expensive town, and people pay big bucks to live there. It IS buying location, location, location. Some areas have a reputation for being pricier than others, and perhaps more desirable – it’s all relative, though.

The areas to be included are the covenant (a large portion of the proposed town, including the village, which was originally established as the Rancho Santa Fe Protective Covenant by the Santa Fe Land Improvement Company and some local landowners in 1928) and 8 adjacent areas - South Pointe Farms, Stonebridge, Rancho Serena, Horseman’s Valley, Sun Valley, Hacienda Santa Fe, Rancho del Rio and The Summit.  The town would be about 6500 residents.

Now here’s the fun part. And if I were a resident in one of these excluded areas I might be a bit perturbed – they won’t be able to use the RSF address and their kids, unless in private schools, will go to neighboring schools. And access to current services will change. Hmm, wonder if folks are thinking about their potential property values declining. The areas to be excluded include Fairbanks Ranch (possible even more exclusive and prestigious, and pricey, than the Covenant so maybe it won’t make a difference), Cielo, The Bridges, The Crosby Estates, and Whispering Palms, areas that are now considered Rancho Santa Fe.

The other tidbit, as I understand, is that the voters (25% must approve the petition, remember?) are those in the areas to be incorporated; those in the area to be excluded have no say. Hmmm.

It will be interesting to see what happens, and if approved, what impact this might have on the excluded communities.

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If I can provide more information about this area or the housing market in general, or otherwise assist you in your homes search, please contact me by phone or text at (760) 840-1360
or email me at JDowler@remax.net.

Rancho Santa Fe home buyers seeking high-end homes on or near golf courses have a number of choices.

One of the more prestigious communities in Rancho Santa Fe is the gated subdivision of The Crosby at Rancho Santa Fe, anchored by the famed Crosby National Golf Course named after Bing Crosby, offering a wide range of homes with the casual architectural elegance defined by well-known area architect, Lillian Rice.

The Crosby at Rancho Santa Fe is located on the east side of Rancho Santa Fe, with a gate guarded entrance off Del Dios Highway, only 3 miles from Rancho Santa Fe Village (another entrance is south at the edge of the Del Sur/Santaluz complexes with easy access to the 15 freeway and La Jolla).

The land at The Crosby is in the Rancho Bernardo (92127) zip code, but the residents have a Rancho Santa Fe (92067) mailing address. Rolling hills, lakes, pastoral vistas, natural settings and open space, and, of course, the golf course, add to the beauty and desirability of this upscale neighborhood. The hilltop village of Cielo is on the other side of Del Dios Highway (despite the name, this is a rural 2-lane road).

Amenities are what you would expect of a prestigious golfing community. The well-known, limited membership Crosby Club offers an 18-hole golf course (par 70), pro shop, a driving range, fabulous dining with an executive chef (with 4 and 5 star hotel background), swimming pool, 4 tennis courts, banquet facilities, massage rooms, and a host of activities for residents year-round.

Rancho Santa Fe Village is just 3 miles away, with upscale shopping and fine dining (The Inn at Rancho Santa Fe, Delicias, Mille Fleur) and a popular annual art fair. Beaches are perhaps a 25 minute drive, and residents can enjoy thoroughbred racing at the Del Mar Race Track in Del Mar. South of The Crosby one has easy access to shopping malls and restaurants in the Carmel Valley area.

There are a number of private schools in the area (Horizon Prep, Digueno Country Day, Fairbanks Country Day, The Nativity School) as well as the fine Rancho Santa Fe Schools (grades K – 8).

Rancho Santa Fe homes at The Crosby provide a number of options. There are golf-frontage estate homes, golf course villas (semi-attached), estate lots and a number of homes located along the winding roads with views of the community and countryside.

There are brand new homes being built, recently completed homes, and a number of resale properties, offering buyers a range of options depending on budget. Entry level pricing is about $1.1 million (for the Laing Luxury Villas); available lots start in the low $1 millions. The Heritage (by Stonefield Development) has a model home available ($2.396 million for a 4300 SF 4 bedroom 3 bath home) as well as several homes under construction that are also for sale.

As of January 2008, there are 23 Rancho Santa Fe homes for sale in The Crosby listed in the MLS. Homes range in price from $1.399 million to $4.995 million, with 3140 SF up to about 8000 SF, and 4-5 bedrooms and 3.5 – 7 baths. Some homes are brand new and never lived in; both single story and two story homes are available, some directly on the fairways and most have views.

Privacy and security for this coveted community are a premium, so buyers need to be accompanied for visits to homes for sale but may tour the brand new models at The Heritage and Laing Luxury Villages.

Some street names are appealing, and unusual, and a few are also Bing-Crosby related – Road to Singapore, Road to Bali, Top o’ The Morning Way, White Christmas (a Bing Crosby classic movie), Going My Way, Blue Skies, Trade Winds, among others.

If you are seeking a sophisticated, high-end neighborhood in a pastoral setting with nearby golf, The Crosby at Rancho Santa Fe could be your next home. Or make it your second home, as many do.

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Start YOUR RANCHO SANTA FE HOMES SEARCH HERE (and other area communities in San Diego including Cardiff, Solana Beach, Del Mar, Encinitas, La Jolla, San Marcos, Oceanside and Carlsbad homes)

Visit CARLSBAD COMMUNITY REPORTS for profiles on communities, subdivisions and neighborhoods

All content copyright © 2007 Jeff Dowler Carlsbad Homes and Real Estate Tidbits

Forbes released its Most Expensive Zip Codes list and Rancho Santa Fe in San Diego County again is high on the list, coming out Number 3 (zip code 92067), dropping from # 2 last year (#1 Alpine in NJ and #2 Fisher Island – that’s in Ines Hegedus-Garcia’s territory BTW she has a great listing on Fisher Island if you are interested – are tied), with a median price of $2.58 million.

The list is based on sales prices from July 2006 to June 2007 collected by First American CoreLogic. Interestingly, when you look at MLS data for all of 2007, the median sales price of Rancho Santa Fe’s homes (detached) ended up at $2.9 million (up 15% over the year-end median for 2006).

The most expensive Rancho Santa Fe home sold in 2007, per the MLS, was $21.5 million, for cash.

And it was no big surprise that California boasts 291 of the country’s most expensive areas on the Forbes list.

There is no question that Rancho Santa Fe homes are pricey – currently there are 163 detached homes for sale, ranging in price from $1.15 to $29.9 million (that’s an average of $5.844 million) with 4 over $10 million. But there is no great rush really – inventory is about 15 months, and average time on market is about 131 days.

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Start YOUR RANCHO SANTA FE HOMES SEARCH HERE (and other area communities in San Diego including Cardiff, Solana Beach, Del Mar, Encinitas, La Jolla, San Marcos, Oceanside and Carlsbad homes)

Visit CARLSBAD COMMUNITY REPORTS for profiles on communities, subdivisions and neighborhoods

All content copyright © 2007 Jeff Dowler Carlsbad Homes and Real Estate Tidbits

Rancho Santa Fe (downtown, shown left), in San Diego's North County, is a bucolic and affluent residential community on rolling hills filled with Eucalyptus trees and orchards (years ago thousands of Eucalyptus trees were planted to be used for the railroad, but the wood turned out to not be appropriate).

Located about 5 miles inland from the ocean (adjacent to and east of Del Mar, Solana Beach and Encinitas) and perhaps 20 miles from San Diego, the Rancho Santa Fe real estate market offers the best of suburban living but at a hefty price.

The town is unincorporated and covers an area of approximately 6.9 square miles. If you are seeking a luxury home in the San Diego area that is over-the-top, you will likely find it here.

Rancho Santa Fe real estate offers many large luxury homes and private estates, a host of exclusive gated communities, and a style of sophisticated living found in other expensive communities such as Bel-Air, Beverly Hills, and Malibu....but a more rural and less pretentious one.

A recent Forbes poll named the Rancho Santa Fe real estate market as the second most expensive zip code in the US, and a drive through the area will readily show you why this is so.

Rancho Santa Fe homes are very large (most are more than 5,000 SF), lots are often measured in acres, and the privacy (which is highly coveted here) and exclusivity due to the many gated communities and properties contribute to the desirability and priciness. Many residents live here less than full-time, having one or more homes elsewhere in the country or the world; it is estimated that 30 - 40% of the homeowners only live here on a part-time basis.

Rancho Santa Fe homes are among the most expensive in Southern California (RSF Market Report, see other recent market reports below). Styles tend to be Tuscan, Spanish or Mediterranean, but you will find a host of contemporary and traditional properties as well as some architectural styles that are difficult to classify.

There is new construction, all of it custom, as well as more established properties. The town has strict guidelines regarding building, landscaping and exterior alterations.  

Many private homes are gated, and gated communities (with guards) are common - Del Rayo Estates, Fairbanks Ranch, The Bridges, The Rivers Estates, Del Mar Country Club, Cielo, The Farms, and The Crosby Estates are among these exclusive neighborhoods. (photo as left is of Rancho Santa Fe Inn)

The median price of a detached home in Rancho Santa Fe is now $2.5 million (average home price as of March 2007 was $3.343 million), and you will be hard pressed to find a detached home for less than $1.5 million, even a tear down. [as of April 24 there are 225 detached homes on the market, ranging from $1.1 million (only one at this price), then upwards from $1.575 million to $40 million; 14 attached homes are currently listed, from $475K to $1.8 million].

Attached Rancho Santa Fe homes are more affordable but the median price is still in the mid $700s (average price exceeds $800K) and there are a limited number of these types of properties. Many homes offer idyllic views of the surrounding countryside, and in some cases the ocean, several miles away, due to the hills. (some custom new construction shown at right)

If you are seeking a truly special luxury estate and money is no object, you will find it here. Got $10 million, $20 million or more to spend - not a problem. There are currently 20 homes on the market in excess of $10 million. If you are interested in a large equestrian property you will likely find several of these to choose from.

Don't expect to drive around and look at actual properties for sale - signs are not permitted, open houses are very rare, many neighborhoods are gated, and most sellers require that buyers be accompanied by the listing agent; for many higher end homes you will need to prove you are financially qualified to buy before you can preview the property. But the Internet will give you a great feel for what there is to buy in the Rancho Santa Fe real estate market, and is a great place to start if you are not yet working with an agent.

The Covenant is the original planned community in Rancho Santa Fe and includes the downtown commercial area. Much of the area was planned by Lillian Rice, a well known architect who has influenced the look and style of many of the homes and buildings in the area.

All residents have P.O. boxes rather than home mail delivery, and there are no street lights or sidewalks outside of the town area. Lots are at least 1 acre and prices tend to be higher in the Covenant than in other area of RSF. Most of the roads have Spanish names.

The other large area of RSF is Fairbanks Ranch, an unincorporated area (census-designated place or CDP) consisting of 2 gated communities.

Rancho Santa Fe is primarily a residential community but there are a couple of areas, including the town center, that offer a host of upscale shopping, fine dining, galleries and town offices. Mille Fleurs is an upscale dining establishment, located in the heart of RSF's downtown.

The Inn at Rancho Santa Fe also provides one with a great dining experience, indoors and out, in a quaint hotel (designed by well-known architect Lillian Rice) that also offers a range of lodging options (companies often host corporate events here).

Delicias is another highly-touted RSF restaurant, and the Rancho Valencia Resort also offers fine dining in their signature restaurant, Rancho Valencia Restaurant. The town has a wonderful art fair once a year in the center of town.

If golfing is high on your list, there are a number of private golf clubs in RSF, including the Rancho Santa Fe Golf Club, the Del Mar Country Club, Morgan Run, The Bridges, Fairbanks Ranch Country Club, and The Crosby.

The Del Mar Race Track is located just a few miles away, offering horse racing (in 2007, July 18 to September 5), concerts, the annual state fair, and a host of trade shows and other events (home expo, antiques fair, etc.). (photo at left is of annual street fair in September in RSF)

Children may attend the elementary and middle public schools, up to grade 8 or a number of private schools (The Horizon School, Nativity School, and the Diegueno Country School, among others.  Students in the higher grades attend the Encinitas Schools located just a few miles away.

If you are still in the exploratory stages of your house hunting, you may want to check out the community profiles on the other communities (which all offer high end homes) including Carlsbad (Aviara, La Costa, La Costa Greens, and Rancho Carrillo), as well as the coastal towns of Encinitas (Encinitas Ranch), Cardiff (the Composer and Walking Districts) and San Marcos (Lake San Marcos, San Elijo Hills), among others.

Please feel free to call me at (760) 840-1360 or email me at JDowler@remax.net if I can be of assistance or answer any questions.

MORE INFORMATION:

Fans of Coastal San Diego - a fun blog about living in the San Diego area

Relocation A to Z - everything you need to know about relocation to Carlsbad or elsewhere

First Time Buyer Central - for new AND experienced buyers

Click photo to link to my personal website