Just Listed! 11965 Ericas Way Eucalyptus Hills

11965 Ericas Way Eucalyptus Hills

Welcome to Eucalyptus Hills! This custom built home has dream views and over 2 acres of useable land. Zoned for animals you can have your own chick coop, goats, or even horses here! The home features upgraded kitchen with new granite counters, stainless steel appliances, custom tile back splash, and new cabinets. The kitchen flows into the living room for ease of entertaining. Living room features stone fireplace, 60in Pioneer Kuro Plasma with surround, two double doors to the back yard and big windows to take full advantage of the views.  The master bedroom has a walk-in closet, attached bathroom suit, and double doors to the back yard. Eucalyptus Hills is known for its views of mountains, san vicente dam, and out door activities. San Vicente Dam is only 7 miles away. 

Click here for more info!

4 Reasons To Stay Invested In U.S. Housing

The stock market’s wild ride over the last couple of months may have introduced a measure of uncertainty into the investment outlook for some sectors of the global economy. However, U.S. housing was not one of them. 

America’s housing market is continuing to grow faster than the economy overall. We are seeing a number of opportunities and remain constructive on the sector. Here are four reasons why:




1. Strong job growth and consumer confidence: The U.S. economy has added roughly 3 million private sector jobs over the past year. This includes more than 750,000 new jobs in the 25- to 34-year-old cohort, an important segment for first-time buyers, a rate that is near a 15-year high. A pickup in wage growth is likely given the improvement in the labor market; the unemployment rate declined by 2.4% in the past two years to reach 5.1%. We expect more jobs and higher incomes will lead to rising consumer confidence and demand for homes, even in the face of modestly higher mortgage rates.




2. Low inventories and rising pent-up demand: Both the absolute level of inventory of new and existing homes (now 2.5 million units total) and inventory as a percentage of households (now 1.6%) are at or near 15-year lows. Over the past year, 1.5 million new households have formed; that compares with less than 1.2 million new housing units. In addition, over 30% of 18- to 34-year-olds are living at home. What does this mean? A lot of pent-up demand, and if it picks up, as we expect, housing starts will likely rise toward 1.5 million units (or higher) in the next two to three years. Simply put, with residential investment spending at 3.3% of GDP, the U.S. has been significantly under-building relative to long-term demand (the 55-year average is 4.5% of GDP – see Figure 1).

3. Willingness to lend and expanding demand for credit: Banks are finally lending again! In reviewing second quarter 2015 earnings details, we noticed that mortgage origination growth at all four of the largest U.S. banks rose by double digits. At the same time banks are increasing their willingness to lend, households are becoming more confident and many are now in a position to re-lever: Consumer debt service ratios are near 35-year lows. Importantly, a significant number of previously foreclosed homeowners could become eligible to buy a home over the next five years. As such, the demand and supply of credit is likely to pick up, which should support the U.S. housing market.




4. Relative affordability: At this juncture, owning a house is incredibly cheap – both from a historical affordability perspective and relative to the cost of renting (see Figure 2). Although some have expressed concerns rising rates will reduce affordability, keep in mind that it would take a two percentage point rise in mortgage rates to go back to the long-term average. A very modest pickup in mortgage rates, which are currently under 4%, can be handled by an economy adding 3 million jobs in the private sector alone, in our view.

How to take advantage of current trends

In many regions across the country, there is a significant shortage of housing inventory relative to job creation. In Orange County, California, for example, job growth is overwhelming housing inventory by a ratio of five to one. Our view based on the most recent data is that home ownership is cyclical: As housing prices rise, people become more confident, credit becomes more available. The most recent data on housing starts suggests a shift toward single family home construction. Home builder sentiment is at the highest level it’s been since November 2005. We expect companies tied to housing will see earnings growth much higher than the markets overall.

Investors seeking to capitalize on these trends should stay overweight U.S. housing and housing-related sectors. We continue to see value in select companies in areas such as building materials, home improvement, title insurance, homebuilding, banks and specialty finance companies as well as in non-agency mortgage-backed securities(MBS).

The Cheapest And Most Expensive San Diego Neighborhoods for Rent

San Diego rent prices continued to steadily increase across multiple bedroom types this September. The city maintained its place as the 11th most expensive market in the US to rent, inching ever closer to 10th place Seattle. One bedroom median rents jumped 2% to $1,540 alone last month, and are now up 7.7% in the past trailing year, while two bedrooms were also up 2.4% to $2,100.

Such increases have put San Diego ahead of Portland, Denver, and Philadelphia in our latest October National Rent Report, which details rent trends across the 50 largest cities in the United States.

Looking at the map above, the most expensive San Diego areas to rent this fall include Coronado ($2,600), East Village ($2,170), and Little Italy ($2,040). More affordable finds in the $900-$1,200 range can be seen in areas such as Oak Park, Burlingame, and El Cerrito.

If you’re interested in seeing how San Diego stacks up to the rest of the United States, view our National Rent Report for October, which analyzes over 1 million active listings available in the prior month.

To keep up to date with rent changes across the country, like or follow us on Facebook, Twitter, or Pinterest. In the market for a new place? Search over 2,350 San Diego apartments on Zumper.

2015 Real Estate Review

Last year was a great year for Real Estate in San Diego and 2016 is just going to get better. In 2015 San Diego sold $15,105,240,866. Thats right 15 BILLION! The average home sale was $675,004 and average day on market was 40. (this is only the detached housing market) The biggest home sale was 7007 country club drive La Jolla listed for $19,800,000 and selling for $17,000,000 cash!

6266 Camino De La Costa - On the market for $15,500,000 selling in 

6 days for $14,300,000 cash! 

6102 Camino De La Costa - On the market for $12,500,000 selling in 

330 days for $12,450,000 cash!

9046 La Jolla Shores Lane - On the market for $13,599,000 selling in 

49 days for $12,000,000 Cash!

341 Sea Ridge - On the market for $12,500,000 selling in 

1 day for $11,500,000 Cash!

310 Dunmore Drive - On the market for $12,980,000 selling in 

21 days $11,400,000 Cash!

15651 Puerta Del Sol - On the market for $36,000,000 selling in 

42 days for $11,200,000 Cash!

3006 SANDY LANE - On the market for $12,995,000 selling in 

133 days for $11,000,000 Cash!

17025 Sobre Los Cerros - On the market for $10,250,000 selling in 

158 days for $9,300,000 Cash!

2611 Crown Crest Lane - On the market for $9,200,000 selling in 

1 day for $9,000,000 Cash!

Call cory today for more info on any of these properties. Also if your looking to

buy or sell call me 760-707-6021 corywilcoxre@gmail.com

MILLION-DOLLAR HOME SALES UP AGAIN IN THE GOLDEN STATE

MILLION-DOLLAR HOME SALES UP AGAIN IN THE GOLDEN STATE Source: DQNews La Jolla, CA.—-The number of California homes that sold for a million dollars or more rose to its highest level in seven years last quarter, the result of rising home prices and an improving economy. The luxury market’s high end continues to do best, with record sales above the $2 million mark, a real estate information service reported. A total of 12,826 homes sold for a million dollars or more during the April-through-June period. That was up 60.4 percent from 7,994 during this year’s first quarter, and up 9.1 percent from 11,758 in second-quarter 2013. Last quarter’s $1 million-plus sales were the highest for any quarter since 13,681 homes sold for $1 million or more in second-quarter 2007, according to CoreLogic DataQuick. The all-time high was third-quarter 2005, when 15,898 Golden State homes sold for a million dollars or more. The nine-county San Francisco Bay Area stood out last quarter: The 5,734 sales there of $1 million or more represented an all-time high. The previous peak was 5,699 in second-quarter 2005. While statewide $1 million-plus home sales rose 9.1 percent year-over-year in the second quarter, total sales across all price categories fell 7.4 percent. Two of the main reasons for the increase in $1 million-plus sales are increased demand, and robust price appreciation that over the past year has pushed more homes up over the million-dollar threshold. “It’s always fascinating to watch this part of the real estate market. It behaves differently, responds to its own set of criteria. These buyers, especially those in the multi-million-dollar market, are less likely to agonize over credit scores, income and job security, down payments and mortgage interest rates,” said Andrew LePage, CoreLogic DataQuick analyst. “While we can only speculate, it seems self-evident that luxury home buyers have substantial assets, and they’re constantly evaluating where to park those assets. Right now it’s interesting that there appears to be enough inventory to meet the demand for luxury homes. That’s not always the case in many mid-priced and lower-cost housing markets, where demand continues to outweigh supply,” LePage said. A total of 265 homes sold for more than $5 million last quarter, an all-time high. In the $4-$5 million range, a record 213 homes sold. In the $3-$4 million range, 469 homes sold, also a record. In the $2-$3 million range, 1,595 homes sold, another high. In the $1-$2 million range, 8,381 sold last quarter, still behind the record 9,885 sold in second-quarter 2005. There were 1,923 sales where the price was unavailable, but where it could be determined that the price exceeded $1 million because of the size of the mortgage. San Diego-based DataQuick was acquired in March by Irvine-based CoreLogic, a leading global property information, analytics and data-enabled services provider. CoreLogic DataQuick monitors real estate activity nationwide and provides information to consumers, educational institutions, public agencies, lending institutions, title companies and industry analysts. The million-dollar transactions include home sales where it could be determined from public records that there was a buyer, a seller, that money changed hands, and that there was a legal transfer of property ownership. Not included were property swaps, sales of multiple lots, sales where no price or loan amount was available, teardowns, and large farm or ranch properties. Sales to companies and trusts were included. Last quarter 3,882 of the homes that sold for $1 million or more were purchased with cash. In the luxury market, the higher the price, the more frequently cash was used. Of those who did finance their purchase last quarter, the median down payment was 30.0 percent of the purchase price. The lending institutions most willing to provide mortgage financing for homes that sold for $1 million-plus were Wells Fargo, Union Bank and Bank of America. The most expensive confirmed purchase last quarter was a 11,637-square-foot, 4-bedroom, 6-bathroom Westwood mansion built in 1931 which sold for $45,000,000 in May. The largest was a 16,840 sq.ft. 6-bedroom, 13-bathroom mansion in Indian Wells that sold for $4.5 million. In some communities virtually all home sales were in the million-dollar category. Among them: Hillsborough, Rancho Santa Fe, Atherton and Los Altos. Newly-built homes accounted for 8.8 percent of last quarter’s $1 million-plus sales. Condo sales made up 10.1 percent. Most $1 million-plus condos were sold in Los Angeles, San Francisco and San Diego counties. The median-sized $1 million-plus home was 2,400 sq.ft. with 4 bedrooms and 3 bathrooms. The median price paid per square foot for all million-dollar homes last quarter was $729, up 7.6 percent from $678 in second-quarter 2013. For the overall California market, the square-foot median was $226 last quarter, up 13.0 percent from $200 in second-quarter 2013, CoreLogic DataQuick reported. There are 8.85 million houses and condos in California. Of those, 277,666 are assessed for more than a million dollars by county assessor offices, CoreLogic DataQuick reported. To view the ranking of cities by the number of million-dollar home sales, please visit DQNews.com.

25 years later, 'Home Alone' house is unrecognizable

The '90s blockbuster hits "Home Alone" and "Home Alone 2" are synonymous with the holiday season, which is unofficially underway.

That red brick house, located at 671 Lincoln Ave., in Winnetka, Illinois, is easily recognizable on TV screens decades later, but what about behind closed doors?

The four-bedroom, four-bathroom mini-mansion was sold in 2012 for $1.595 million and has been significantly remodeled throughout the years.

The green tile kitchen countertops and floor-to-ceiling floral wallpaper are a thing of the past.

From the master bedroom to the kitchen where Kevin McCallister realized he was "home alone," several rooms bear no resemblance to the originals that so many of us came to know.

Here's a look inside, then and now:

THE INFAMOUS STAIR CASE

THEN:

NOW:

THE KITCHEN WHERE KEVIN REALIZED HE WAS "HOME ALONE"

THEN:

NOW:

THE MASTER BEDROOM

THEN:

NOW:

AND WHO COULD FORGET...

The Little Nero's pizza boy!

Have you watched "Home Alone" this season? Tell us what your all-time favorite holiday movie is!

Oh, and the statue out front that the pizza boy from Little Nero's kept knocking over with his car? Just a prop.

La Jolla Farms

La Jolla Farms: Where Billionaires Meet Surfers

In San Diego's La Jolla Farms, owners like Ron Burkle and former litigator Bill Lerach share a coastline with college kids and sports enthusiasts

When Bill Lerach's wife wanted to move from north San Diego's spacious Rancho Santa Fe area to the posh but relatively cramped La Jolla, he worried they couldn't find the land to accommodate his gardening habit—Mr. Lerach's primary occupation since he was released from prison, three years ago. 

BILLIONAIRE'S BLUFF

The home of investor Ron Burkle sits on a bluff overlooking La Jolla Farms. 

They found a solution in 2005 in La Jolla Farms, a small but open area perched on an ocean-side bluff that overlooks a nude beach and the Pacific Ocean. Mr. Lerach's $26 million, Italian-style home sits on six heavily gardened acres that end at a seaside cliff. 

"La Jolla Farms became a perfect compromise," says Mr. Lerach, the securities litigator who, after a long career trying corporate-fraud cases, was disbarred after serving time for a felony conviction on charges of obstruction of justice. 

The Farms, among the most expensive areas in San Diego, is an enclave within an enclave of greater La Jolla. It isn't as well-known as the seaside La Jolla Village, and the roughly 100 homes there, while boasting some of the best views on earth, don't have any beachfront. What they do have is land: The lots range from around 1 to 7 acres. And as Mr. Lerach notes, there are some advantages to not having beachfront. "Nobody can get up from below," he says. 

On a recent morning Mr. Lerach greeted guests in a sweatshirt and boat shoes. His hands were flecked with his own dry blood (from a gardening injury) and he had a pair of plastic garden ties in his back pocket. He said the Farms area, with its mild climate and plentiful sun, is a gardener's dream. He does most of his work on the property's ocean-facing side. He and his wife tend to a crowded jungle that includes California native plants, berries and herbs, and a rowed vegetable garden with cabbage, tomatoes and eggplant.

With the area's miles of beaches and water come views of whales, dolphins and surfers. It's a perfect place to search for the "green flash," an elusive burst of light that rises over the ocean at sunset. Paragliders regularly fly over the property on their descent to the beach below. 

Some people gripe, Mr. Lerach says, "but I find it entertaining."

La Jolla Farms sits a few miles from downtown La Jolla, up a winding hill. In contrast to the collection of boutiques and restaurants in the village, the Farms is adjacent to a small city of dorms, labs and office buildings that belong to the University of California, San Diego, and affiliated research institutions. La Jolla Village has a Ralph Lauren store. La Jolla Farms has a Ralphs supermarket in a nearby shopping center. 

The result is that the Farms, though it has its share of visitors, has a less touristy, more residential feel than La Jolla proper. The lots, developed mostly in the 1940s and 1950s, are a mixed bag architecturally, ranging from modern contemporary to Spanish colonial. The area has almost no architectural guidelines or constraints, so people build whatever they want, says Cory Wilcox, a real-estate agent with Keller Williams. 

The fact that the area isn't well-known outside of San Diego may be contributing to a lag in prices. Homes in the Farms area have been selling for roughly $845 per square foot, through there is some variation depending on the view and acreage. That is down from around $1,500 per square foot in the real-estate heyday from 2004 to 2007, according to Mr. Dickinson. 

San Diego hasn't attracted many foreign investors, he says, because the area doesn't have the global reputation of say, Los Angeles, about two hours to the north. Also, the city's small downtown airport has a relative handful of international flights. 

"In a way, we're on sale," says Mr. Dickinson. "We're missing out on that customer." 

The Farms has all the marks of a wealthy neighborhood: gated homes, dense shrubbery and a private security force that roams the circle in green-and-white cars. But unlike most wealthy neighborhoods, the area also plays host to an eclectic band of outside traffic. The university is a few hundred yards away, and students amble through the Farms daily on a windy path leading to a vantage point called "the cliffs," where they watch sunsets.

Surfers also make frequent stops. When the waves are good, they use La Jolla Farms Road as a de facto parking lot on their way to the beach. And while residents get keys that allow them to drive down an access road to the water, it's an open secret that the best-networked surfers have secured keys of their own. 

Alex Zha, a freshman at the university, takes study breaks there. "It's a pretty big change of scenery" from the campus, Mr. Zha says, who walks to the Farms about once a month to chill out and take in the view. 

Mr. Zha's view from the cliffs one recent afternoon included not just waves but a sprawling Mediterranean-style home belonging to Ron Burkle, the Los Angeles investor and billionaire who now spends most of his time in London. The home, surrounded by palm trees and panoramic views of the ocean, is used mostly for entertaining, a spokesman for Mr. Burkle says. The investor paid $16 million for the property when the house was still unfinished but has since had offers for more than $60 million, the spokesman adds. 

Other Farms residents include Ted Waitt, founder of Gateway Inc., and Roger Tsien, a Nobel laureate and UCSD chemistry professor. 

Mr. Lerach's home is full of African art and statutes he has collected, along with pots and pots of plants that have helpful placards to identify them. The home is a popular stop on local garden tours.

He says he and his wife host charity events, including for "Just in Time," an organization that helps children transition from foster care to the real world. He also estimates he has hosted a dozen weddings on the property. 

Touring the home, Mr. Lerach doled out trivia about World War II and blueberries. The house contains remnants of his legal career, such as a caricature of a bald man's head on a platter—a vanquished legal opponent. 

Mr. Lerach was sentenced in 2008 to two years in prison and paid an $8 million penalty after pleading guilty to obstruction of justice in connection with alleged kickbacks paid by his former law firm to clients. He says he served about 16 months. He was later disbarred by the state of California. 

"I'm completely satisfied in the life I now live, and I'm proud of the work we did," he says. 

The home also has reminders of Mr. Lerach's native Pittsburgh, including a sooty fountain from his hometown left by a previous owner. Just beyond the gated driveway is an aviary with African and South American birds. He has two toucans, named Badass and Badasser, and mynah birds he is teaching to speak Pittsburgh slang. Right now, they're working on "yinz."