North County Business News: End of the Recession?

One of the biggest drains on this recession has been falling home prices and the lack of new homes being built. Been odd in Encinitas lately though as there's been a few small developments popping up. Is it the end of the recession? I'm no expert (well, an expert surfer maybe) but it's better than seeing boarded up homes and foreclosure signs. Here's what I've seen lately:

 

1. Seaside Highlands
Another former small tract of land built into 18 homes (aren't all the neighborhoods of Encinitas small plots of land with a dozen or so homes?). These look to be pretty big in size (around 3k-4k square feet) and big in price (high $900's to low millions). Reasonable though as a new 4,000 square foot home a mile from the beach is the going rate for north county.

 

Here's some specs on the homes:

• Single Family Homes in Encinitas, CA
• Approx. 2,750 to 4,650 sq. ft.
• 3 to 5 Bedrooms | 2.5 to 4.5 Baths | 2 to 4 Space Garage
• Priced from the low $1,000,000's            

The map below shows the location just off Encinitas Blvd. down Balour drive. Close to the beach, shopping, schools, etc. Not a bad location. Check them out here at Seaside Highlands.

 

2. Encinitas Bungalows

Another funny little tract of land- this time off Requeza just east of the 5 freeway and Encinitas Highlands (see below). Their website says there will be 9 homes on this site.

The specs on the home are:

• range from approximately 1,747 to 2,199 square feet
• offer three architectural styles
• features include 3-4 Bedrooms, Gourmet Kitchens, Flex Spaces, Oversized Secondary Bedrooms, and Energy Efficient Features.

Not much more information on these homes. Considering the semi-new 'Beach Street' homes next door are selling for the mid $500's and are almost the same size, I'd assume the Bungalows would be the same price- unless the lots were bigger. Check out the info at Encinitas Bungalows.
3. Beacons Leucadia

This place should be called La Espcial Norte West as it sits directly behind their parking lot. The person who gets the house right next door is going to have the delicious aroma of Corona's, chips, and carne every night. It's definitely worth the million dollar price tag. AND you can walk to Beacon's. Bonus! And of course- it's another little plot of land where greenhouses used to stand and now 10 homes are going up.

Here's the lowdown from the builder:

• 10 elegantly appointed, single family residences
• West of highway 101, off Daphne Street in Leucadia
• 1,930 to 3,150 square feet
• 3 to 4 bedrooms
• From the $900's

Not a bad price considering you're west of Highway 101, within walking distance to the beach, and you can stumble down to Surfy Surfy to grab some wax. Awesome! I'm assuming though your 'backyard' is the beach and the lots are maxed out by the size of the house. No complaints. Check out more info at Beacons Leucadia.

 

4. Seaside (not to be confused with Seaside Highlands above)

Another 'original' surf name for a home development in Encinitas. If the developers need help naming their new homes after local surf spots, I suggest Traps, Suckouts, or Barneys. I can just hear the conversations at Union right now- "So where do you live? Encinitas Ranch. Cool. Where do you live? Suckouts. Suckouts?! Is the place built on an indian burial ground or something?" Trust me- they'll sell like hotcakes.

Anyway, this development (of 10 homes- what did you expect, 100?) has been a long time coming and was in a bit of drama due to the recession. I don't remember the whole story but the original developer ran out of funding, blah blah blah and the really cool homes withing walking distance of Ponto sat for a couple years.

Well Shea Homes has picked up the deeds and are finishing them. Someone is getting a steal on these as they're around 3,200 to 4,800 square feet and starting in the low millions. That's a deal considering the Ponto redevelopment plan will bring some life to the area, you're across the street from the lagoon, and you can get a quick surf at Ponto in the morning. Once the recession turns around, your low $1 mil investment will be worth it.

Here's the official mumbo jumbo from Shea:
"Seaside is a small enclave of ten beach inspired semi-custom homes, located in north San Diego County in the coastal community of Leucadia, just west of Interstate 5 in the City of Encinitas. Located near South Ponto Beach, Seaside consists of semi-custom single-family homes, on oversized lots. The prime location just blocks from the shore allows for easy beach access as well as access to the quaint coastal communities of downtown Encinitas, Carlsbad and Solana Beach. Homeowners will enjoy a truly unique coastal lifestyle. Pricing will start in the Low $1 Millions."    

For more information, click on Seaside here.             

5. Eaton Beach Estates

Here's yet another former greenhouse lot turned into a dozen homes- just kidding- only 5 this time. And it's not actually homes- but rather third of an acre lots. And it's practically next door to Seaside.

Their website (check it here at Eston Beach Estates) list each lot around a third of an acre for $750k each. Not sure what it costs to build a house these days, but I'm assuming something in the 2500 square foot range may be $750k? If so, you're looking at a house for $1.5k, walking distance to Ponto

 

6. And last but not least...
What the heck is with that massive empty lot on the corner of Ashbury and N. Vulcan in north Leucadia- just east of the train tracks?!

That place has been quiet for at least 5-7 years. And the weird thing is that it's been graded for homes but nothing has moved. And that was BEFORE the recession.

It's in a prime location, the property looks like it's a big lot so you can fit a lot of homes on there (maybe 25?) and the lots could be 10k square feet. My math is probably way off, but regardless, I'm surprised no one developer has snatched it up yet. Maybe the development was called Suckouts and it's built on an Indian burial ground. Who knows.