Rancho Santa Fe Blog

Fantastic Rental Opportunity In Rancho Santa Fe

2009-06-18T13:31:00.000-07:00

For Lease in Cielo in Rancho Santa Fe

$5500/month, 4 bedrooms plus detached guest casita. 3 car garage, clean, bright & open floorplan. Views to forever!
Owner prefers 1 year lease. Pets negotiable.

Call Danielle for more details:
858-759-6502

Real Estate Summary for Rancho Santa Fe

2009-03-12T10:17:00.000-07:00

The median sales price for homes in ZIP code 92067 in Rancho Santa Fe from Dec 08 to Feb 09 was $1,700,000 based on 8 sales. Compared to the same period one year ago, the median sales price increased 4.6%, or $75,000, and the number of sales increased 100%.

Average price per square foot for homes in 92067 was $512, a decrease of 4.7% compared to the same period last year.

There are currently 272 resale and new homes in ZIP code 92067 on Trulia, including 1 open house, as well as 17 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in 92067 was $3,885,831 for the week ending Mar 04, which represents a decrease of 0.9%, or $33,574, compared to the prior week.

Popular ZIP codes in Rancho Santa Fe include 92067 and 92091, with average listing prices of $3,885,831 and $4,456,477.

2009 Real Estate Outlook-On A National Level

2009-02-04T21:31:00.000-08:00

Real Estate Outlook: What's in Store for 2009?

What will the new year bring for housing and real estate? It's easy to look at all the negative economic news in the headlines and say - there's no sign that 2009 is going to be any better than 2008.

But here's a different perspective to consider from one of the country's veteran financial analysts -- Richard Bove of Ladenburg Thalmann, an investment banking company.

In a research report issued late in December, Bove said he sees a positive dynamic taking shape in the current cycle. The government has intervened aggressively in the markets to push interest rates down -- most notably in the home mortgage sector.

Though it takes awhile for low-cost money to begin having its effect, Bove said he expects "housing prices to stabilize and/or rise (in 2009) after a likely boom in mortgage refinancings as rates fall and loan applications increase."

Add in the expected massive economic stimulus package being put together on Capitol Hill with the incoming Obama administration -- and there's a good chance we're going to see a gradual transformation of the downward cycle into a slow rebound over the coming several quarters.

Already there are positive signs of the turnaround Bove predicts:

Mortgage applications are off the charts, mainly for refis but also to buy houses at affordable prices.

Rates continue to hover at 50-year lows - five percent and even four and three quarters percent for 30-year mortgages, and still lower for 15 and 20 year mortgage terms.

Plus we're all paying a lot less at the gas pump, and sharply discounted prices for retail goods and autos.

And guess what? Americans are actually SAVING again, the national savings rate took a nearly three percent jump last month. That might sound small, but it's hugely important if it is the start of a trend.

There are also some signs that housing prices are stabilizing in some parts of the country. The latest monthly Federal Housing Finance Agency index found home prices UP by six-tenths of a percent in the Mountain states and UP by two tenths of a percent in New England.

You can ridicule small regional gains as statistically irrelevant, but here's an economic proposal to you for the New Year: Keep your eyes open for the small positive signs that are accumulating out there … because all downcycles tail off and come to an end.

The smartest players in real estate -- consumers and the industry - will make the most of the positives -- low-cost money, low prices, stabilizing local markets -- and thrive in the new year. Written by Kenneth R. Harney

What is 'IN" for 2009?

2009-01-18T11:16:00.000-08:00

What is "IN" for 2009?

Sidelined home buyers. Family or lifestyle additions or changes made in buyers households in the last three years are forcing those waiting out the market transition to finally get off the fence and say, it's time for our family to buy the new home that suits our new needs.

Home uplifts. Not a big renovation, but some new finishes that can visually holdover stay-put home sellers. Not a gut rehab to the studs new kitchen, but new flooring, countertops and appliances.

Collaborative home pricing. The old days of home sellers configuring a homes price are out. What's new is that the seller with their agent look at closed comparables, set a price, then the buyer and their agent agree or disagree, but in the end, a mortgage lender and their appraiser will set the price, as they are assuming the most risk in the transaction.

Balanced reporting by real estate and personal finance journalists. Consumers learned in 2008 that the 'doom and gloom' residential real estate market headlines don't apply to all markets. What's been lost in the foreclosure hype is that there are still stories of homes selling in short market times (in as little as 3 days), homes selling at full price and some selling with multiple contracts on the table. Existing home sales will be 5.02 million versus 5.652 million for 2007, a decrease of just over eleven percent, considerably less that the recent correction in the U.S. stock market, plus a realistic view that over five million people purchased a home despite the headlines in 2008.

Creative home seller financing. Exhausted home sellers are turning to self-financing to move properties. Installment sale contracts and lease to own are the most popular and effective ways for sellers to begin to receive income from a property that has languished on the market in 2008.

Property tax appeals. With home prices dropping, many savvy home owners are appealing their property taxes. This is especially attractive to those looking to sell their home in 2009. With a competitive marketplace, those with the most realistic taxes are more likely to offer buyers an overall lower expense in home ownership.

2009 San Diego Real Estate Forecast

2009-01-10T22:22:00.000-08:00

In looking ahead to 2009, the San Diego Residential Real Estate market appears to be ready to shake off the doldrums of 2007 and 2008. While we probably shouldn’t expect to see 20% appreciation again, there are signs indicating a stabilization of the market and a preparation for a “return to normalcy”. What does this mean?

Let’s take a look at some of the factors that impact residential real estate in San Diego and their current trends.

Resale inventories are down dramatically. Existing home owners are responding to today’s market realities. If a home owner needs to sell, they are pricing to achieve a sale in this down market. If a homeowner does not need to sell, they are not putting their home on the market to “see what happens”. The MLS listings for November 2008 were 15,529. There were 20,599 in November of 2007. That’s a 25% decrease.

New home inventories are down dramatically as well. Builders have slowed down the building of spec homes and are re-creating their product for today’s cost conscious market. There has been over 2 years of continuous declines in new home inventories with levels that are off more than 60% since the beginning of 2006.

Total home sales are up significantly. Total home sales in October 2008 were 3,600. That is the highest monthly total since December of 2006!

Sales of foreclosures exceed additional homes being foreclosed on a monthly basis. We are selling foreclosed homes faster than we are adding them to the inventory.

Interest rates are at historic lows. Countrywide announced a 30 year fixed Jumbo loan in the mid 5% range.

A new administration takes the reigns this month, optimism is rising. Change is what the buzz is about and change is happening. A honeymoon period usually follows a new presidential inauguration and with control of the House and Senate, there is a real chance for the Democrats to push forward economic legislation to reverse the course of this recession.

Job loses are mounting, but focused on trade and construction jobs. With stimulus packages in the offing, most of which focus on infrastructure and other forms of “construction”, there is a good chance to get America back to work building things. That helps construction numbers and it helps the supporting industries of construction.

Prices are still falling, but at a much lower rate of decrease. The overall market median price is flat, but the reality is that resales have finally made the pricing adjustment necessary and the rate of decline fell for resale homes is down.

Consumer confidence is low. But, investor confidence in real estate is growing daily. Evidence shows many banks are receiving 3+ offers on foreclosed homes over the original asking price. While the consumer is worried about their job and their existing mortgage payment, bottom priced resale homes are getting snapped up and quickly.

What does all this mean? What it means to me is 2009 will be the “bottom” of the recession for the San Diego real estate market.

Prices will stabilize.
Absorptions will increase.
Confidence will begin to return.
Mortgage rates will remain very low.
Government incentives will be applied to strengthen values. Jobs in construction will return through stimulus packages, which in turn will halt the job loses in other sectors.
Inventories will remain low for both new homes and resales. Total sales will continue to increase.
Notices of Default and Foreclosures will decrease.
Lenders will find a balance for qualifying criteria and loan products will stabilize.
Demand will return and supply will be limited.
The real estate industry will stabilize and we will prepare for better days in 2010 and ahead.
I am also an optimist! What do you think?

Rancho Santa Fe Association 2008-2009 Assessment Rate

2008-10-29T16:14:00.000-07:00

The Rancho Santa Fe Association board finalized and approved the assessment rate for 2008-2009 at its Oct. 16 meeting.Approved at 14 cents per $100 of assessed valuation per the San Diego County Assessor’s roll, 11 cents of the 14 cents will be applied to General Services and 3 cents will go towards Open Space.The rate was originally presented by Chief Financial Officer Steve Comstock at the Finance Committee’s June 5 meeting with the RSF Association, during which they approved the 2008-2009 fiscal operating budget. Per the July 1, 2008 edition of the San Diego County Assessor’s roll, the total valuation for all Covenant properties is $4,155 billion. The total assessed valuation represents a 5.22 percent increase over last year’s valuation of $3,949 billion (that increase is slightly lower than the approximate 6.5 percent initially projected). President Lois Jones thanked Comstock for his “astute” managing of the budget. The assessment rate will be mailed to the membership by Nov. 1. Also approved at the meeting were the audited financial statements for 2007-2008, presented by Comstock and Ron Mitchell, a partner with the Association’s auditing form of ATK, LLP.Director Bill Beckman expressed his “tremendous confidence in the accuracy of the audit.” Association members will receive a copy of the financial statements by Nov. 1.

Quite A Day On Wall Street!

2008-09-15T16:16:00.000-07:00

September 15, 2008

Wall Street is reeling today after The Bank of America announced that it will buy Merrill Lynch, the largest US brokerage company, for $29 per share or close to $50 billion. The proposed share sale price represents a 70% premium over last Friday's closing price of $17.05 for Merrill stock. In other dramatic news, Lehman Brothers has been forced to declare Chapter 11 bankruptcy after failing to arrange a rescue attempt to save the company. Lehman is holding an estimated $60 billion in toxic real estate holdings.Global Stock market plunged overnight that has led stocks here in the US to plummet at the open of trading. The Dow Jones Industrial Average has fallen more that 300 points. Oil prices are also moving lower this morning as Lt. Sweet Crude is down more that $4 at $96/barrel. The fallout continues as AIG, the world's largest insurance company, announced it is restructuring its assets and is seeking to raise an additional $40 billion in capital to avoid a credit rating downgrade. There is speculation AIG will need to borrow directly from the Fed. To make this process easier, the Fed announced last night it is expanding the types of collateral financial institutions can pledge to obtain emergency loans.In an effort to avoid an international meltdown, the Federal Reserve and a global consortium comprised of Bank of America, Barclays, Citibank, Credit Suisse, Deutsche Bank, Goldman Sachs, JP Morgan, Merrill Lynch, Morgan Stanley and UBS agreed to provide $7 billion each to create a $70 billion pool of emergency funds to lend to distressed financial companies. According to the banking group, the newly created capital pool is designed "to help enhance liquidity and mitigate the unprecedented volatility and other challenges affecting global equity and debt markets."

Rates for Loans under 697,500 have fallen dramatically in the last couple of days from this news but the jumbo rates have been unaffected.

Finally...A Positive Story On San Diego Housing

2008-09-08T08:42:00.000-07:00

A Housing Flip-Flop

Local market now most 'undervalued' in state, study finds
By Roger Showley
UNION-TRIBUNE STAFF WRITER
September 5, 2008

San Diego, which three years ago had one of the most overvalued housing markets in the country, is now the most undervalued in California, the economic and financial analysis company Global Insight reported yesterday.
The market has improved because housing prices have fallen about 32 percent from their peak, while incomes have continued to increase.
“A metro area like San Diego has, in a sense, fallen too much,” said James Diffley, who directs Global Insight's regional services group.
But he cautioned that prices could drop an additional 10 percent over the next year before they level out and start climbing again by 2010. Diffley cited the continued influx of foreclosures on the market, the weak economy, and tougher lending standards that will make it difficult for buyers to get mortgages.
On the other hand, Southern California benefits from a strong export market and is not as depressed economically as some other regions of the country.
“You still have a huge amount of properties for sale,” Diffley said. “That's going to depress prices further, regardless of what you think about the (area's economic) fundamentals.”
Global Insight, a Massachusetts company that conducts economic and financial analysis and forecasting, has more than 3,800 clients in 14 countries.
Drawing on data from National City Corp. in Cleveland, Global Insight said San Diego single-family resale housing, which had a median price of $349,300 in the second quarter, was 17.2 percent undervalued, based on household income and prices. In the second quarter of 2005, single-family housing, then with a median price of $505,900, was 39.1 percent overvalued.
In national terms, San Diego ranked as the 29th most-overvalued market in 2005 and, most recently, the 33rd most-undervalued in the ranking of 330 metro areas.
The rankings are based on price-to-income ratios, mortgage rates and historical trends in each metro area. An area is deemed undervalued when the value is at least 15 percent under the fair value and deemed extremely overvalued when it is at least 35 percent over the fair value.
Esmael Adibi, director of the A. Gary Anderson Center for Economic Research at Chapman University in Orange, said he agreed with some of Global Insight's findings. But, he said, the outlook is clouded by the prospect of more troubled home loans and tighter underwriting standards by lenders.
“There's still downward pressure on prices, in spite of improvements in affordability,” Adibi said.
He predicted Southern California's economic outlook remains cloudy because of the housing downturn.
“We benefited disproportionately from construction spending and the mortgage industry,” Adibi said. “Now, they are the two industries that are the weakest and, consequently, we are disproportionately hit harder.”
The Global Insight analysis noted that San Diego's last housing downturn lasted 27 quarters, from 1990 to 1997. Prices, which were overvalued by 19 percent in the fourth quarter of 1989, dropped a total of 14 percent.
This time, prices have dropped much faster in a much shorter period, but the timing of the upturn isn't clear.
“So many things have to fall in place,” Adibi said, “and I don't think they will all fall in place in the very near future, in 2009.”
W. Erik Bruvold, president and chief executive of the San Diego Institute for Policy Research, said the current economic downturn is so different from the past that it is difficult to predict the outcome.
But the strength of San Diego's non-real-estate economy should bode well for a quick housing upturn once it happens, he said.
“Our future, in a lot of ways, looks like the Bay Area's within the coastal hills,” Bruvold said. “We have no vacant land; it's all infill (for future housing development), and people still want a detached home with a yard and kids.”
Norm Miller, academic programs director at the University of San Diego's Burnham-Moores Center for Real Estate, discounted Global Insight's undervaluation findings as virtually meaningless for San Diego. Miller said the prices are based on low-priced foreclosed homes, which are dominating the market.
And in high-priced areas such as San Diego, buyers typically pay more of their income or draw more from their assets to buy than in other areas.
MDA DataQuick previously reported that nearly 41 percent of all resales in July involved foreclosures, while the number of foreclosures topped 2,000 for the first time, three times the figure of July 2007.
Miller agreed that prices will drop further, probably an additional 5 percent, and that a recovery is six to 18 months away.
“We're still softening and going to soften until more of the inventory and shadow inventory – which is expired listings that didn't sell – come back on the market (and sell), and that takes a while,” he said.
Miller said a forecast he developed for Los Angeles probably holds true for San Diego – with prices bottoming out in the second quarter of 2009 and increasing starting in 2010.
Global Insight said Los Angeles was 5.2 percent overvalued in the second quarter, virtually the same as 5.3 percent in Riverside-San Bernardino.
The San Francisco Bay area, with an undervaluation of 15.9 percent, was the only other California market to be considered undervalued in the Global Insight analysis. Orange County had an undervaluation of 12.4 percent.
Among all metro areas, Atlantic City, N.J., with a median price of $258,900, had the most overvaluation at 51.6 percent. Houston, with a median of $122,300, had the most undervaluation at 34.4 percent.
Global Insight said prices nationwide dropped less in the second quarter than in the first, while only six markets, primarily in the Northwest, were judged extremely overvalued, down from 51 in 2005.
“Nevertheless, real estate markets are not ready to recover,” Global Insight said. “The building and financing excesses of the boom years have yet to be worked off. There remains a huge inventory of unsold homes on the market, with foreclosures adding more daily.”

Rancho Days 2008 Is Right Around The Corner

2008-08-19T08:02:00.000-07:00

Summer may be coming to a close, but autumn promises lots of fun here in Rancho Santa Fe! Beginning Sept. 20 through the 27th, the week-long tradition of Rancho Days celebrates the rich life and history of this unique community. Celebrating the 80th Anniversary of Historic Rancho Santa Fe, this year’s line up of events promises to be better than ever!

New RSF Wireless System To Launch Soon

2008-06-29T16:50:00.000-07:00

Workers are completing construction of a new wireless communications system expected to improve both cell phone reception and broadband Internet access in the Rancho Santa Fe area.
ExteNet Systems is building the new wireless system under an agreement with the Rancho Santa Fe Association. The Association board was told at its Thursday, June 19, meeting that the new system is expected to be up and running by August.

Spring Is Here!

2008-04-29T07:32:00.000-07:00

Thanks to all the rain this last winter, the Ranch is GORGEOUS! The flowers are blooming, trees are sensational and the grass on the golf course is emerald green.

With Spring comes change and the Ranch is undergoing a cosmetic facelift of sorts. Here is an excerpt from the Rancho Santa Fe Review...

County lays out RSF road maintenance plans

By Ian S. PortAssistant Editor

The county of San Diego plans to make nearly $5 million in improvements to Rancho Santa Fe roads over the next four years, according to a tentative schedule of local road projects that was recently released.
The document lays out the order in which the county plans to fix potholes and upgrade road surfaces over the next few years, but is not final. Rancho Santa Fe Association officials say they might lobby the county to change the order of certain projects in order to get the most worn roads improved first.
Resurfacing is scheduled for parts of El Mirador, El Vuelo, EL Vuelo del Este, El Zorro Vista and others this year, and new sealing is planned for a long list of roads that includes Avenida De Acacias and Via De Santa Fe. The full list is available from the RSF Association.
“We know the roads a little bit better than they do — first hand,” said Association Manager Pete Smith. “They look at it from a much higher elevation than we do.”
Smith wouldn’t say which Covenant roads he thought needed the most work, but said the Association would consult RSF Patrol Chief Matt Wellhouser and Director of Facilities Dick Brockett in deciding which roads to ask the county to fix first.
He said some of the older roads — parts of which are nearly three decades old, according to the county list — would need more than simply patching and resurfacing to be able to handle today’s heavier cars and SUVs.
The county spent nearly $3.5 million sealing and resurfacing roads in the Covenant from 2003 to 2007, according to the RSF Association, and several of those projects included smooth and quiet — but more expensive — rubberized asphalt.
Planning Director Ivan Holler said the Association would ask the county to use the long-lasting asphalt often on new projects, and may try to work a deal where the HOA covers the upfront cost difference.“I would think that’d be very easy to do,” Holler said

The Biggest Stories In Rancho Santa Fe in 2007

2008-01-12T13:10:00.000-08:00

1. Witch Creek Blaze Nearly Claims RSF Village.

Thousands of residents evacuated the Rancho Santa Fe area at the ring of a reverse -911 call on the morning of Oct. 22, urged to get out of the way of a massive, Santa Ana fueled Witch Fire that would claim over 55 structures, most of them private homes, before residents were allowed to return. A decisive moment came late that night, when walls of fire howled perilously close to the Rancho Santa Fe Village after demolishing dozens of homes to the east. Fire crews took a stand in the area along Via De Santa Fe and Camino Selva and by pointing their fire hoses straight into the air, saved the local commercial district from the storm of wind-whipped ember and flame. When all the flames were out and residents returned, the outpouring of gratitude was immense. The gratitude and giving continues to this day.

2. School District Finds Light at End of a Long Tunnel.

In a banner year for the Rancho Santa Fe School District, trustees and a superintendent saw one overcrowding solution suddenly vanish, only to come together on another direction before the end of the year. Plans to purchase a 28- acre site at Calzada Del Bosque and Via De La Valle for a district wide middle school were announced in early April, with the district hoping to earn the support of 55 percent of voters for what would have been a $60 million school bond. But the school's plans disintegrated almost overnight after the Rancho Santa Fe Review broke news in early August that a local resident and noted horse breeder, Larry Mabee, had purchased the Calzada site for a horse ranch. School officials were despondent, and some residents were angry. Results in an October based survey showed that most residents favored a long-discussed plan to vastly renovate the R. Roger Rowe campus, trustees and Superintendent Lindy Delaney decided to push for a $34 million bond in 2008 to do just that. Though the bond may pass in 2008, it is 2007 that will be remembered for putting the district on its current trajectory.

3. Traffic Troubles or Trifles?
While work quietly continued on the Rancho Santa Fe Association's plan to install three roundabouts at the north end of the village, some residents urged the HOA to take more immediate steps-adding fuel to an issue that burned in the minds of residents all year ling. The RSFA'S Road and Traffic Committee asked the Association in July for $30,000 to study traffic along Paseo Delicias, including the possibility of installing temporary stoplights at the three intersections planned to eventually have roundabouts. While most residents wanted the signals temporarily- as a minor panacea to the problem of cut-through commuters speeding down residential streets-a few residents,at least, said they wouldn't mind of the signals became a permanent feature. But the RSF Association Board of Directors, as well as many residents, balked at the idea of giving up in the area's long-fought aversion to traffic signals. Eventually, the request for a traffic study was denied. But as the slow process of preparing for roundabouts continues, another year of cross-country pressure on local Rancho Santa Fe roads has residents more exasperated than ever.

4. Mixed Reviews for Mixed-Use Development.
It may be called "The Lillian", but local residents didn't savor the original version of a proposed residential and commercial project like they do the creations of the woman who gave the Rancho its signature style. At least not at first- the architecturally detailed proposal earned biting criticisms for the audiences at a meeting in July to announce it. The Spanish Colonial style proposal for the corner of Avenida De Acacias and El Tordo, if approved, would be a major commercial and residential addition to the village.

5. Village Planning And Problems.
While the Association toiled away on preparations to implement its Village Master Plan-major work will begin in 2008-the owners of the gas station in the village saw an initial victory in their legal battle with the HOA, claiming they owed funds for years of improper zoning of their property. A judge ruled in August that the property, on which a gas station was built in the 1960's, should be zoned entirely for commercial use. The Association , arguing that the board of directors never officially granted permission for the gas station, has considered half the property zoned for residential use only. It plans to appeal the judge's ruling after two more issues in the case.

Here's To A Great 2008!

2008-01-03T07:47:00.001-08:00

Happy New Year!

Could this be the year for a BIG change for the Ranch?

Here is an article from the RSF Review worth reading:

By Ian S. PortAssistant Editor

A long-stewing question that has divided the Rancho Santa Fe community in the past will return to center stage in 2008, when a group of residents will ask local voters to sign petitions on an issue that could change the area forever: Should Rancho Santa Fe incorporate into a town?
A group of local activists, including Dick Chandler and Marion Dodson, have been preparing a campaign to convince voters that the answer to that question is yes. Their group, which calls itself Citizens to Protect the Ranch, argues that incorporation would provide more local control over development issues, better law enforcement and more responsive local government — while potentially saving Covenant residents money on their homeowners association dues.
“Things are not as good as they could be and should be,” said Dick Chandler, a major proponent of the incorporation effort. “The quality of life is not what it was 25 years ago. The traffic problem was not what it is today, the streets were in better condition, there wasn’t the urban encroachment that’s filled in around us. People sooner or later are going to decide that they want to control their own destiny.”
Chandler and CPR have been working with the Local Agency Formation Commission (LAFCO) on preliminary studies to determine the boundaries of the town, which would include all of the Covenant, as well as communities between it and Encinitas. The Rancho Del Rio and Hacienda Santa Fe developments would be included along with several other areas.
But all the major gated communities — Fairbanks Ranch, The Bridges, Cielo and the Crosby — would lie outside of the boundaries of the proposed town. The southeastern edge would run along the San Dieguito river, and the northern edge would fall along Escondido creek west of the Bridges development. The town would be bordered on the west by Solana Beach and Encinitas, and on the south by San Diego.
To put incorporation on a ballot and get LAFCO to formally approve any boundaries, CPR will have to get signatures from 25 percent of the voters in the proposed town or 25 percent of the landowners who own at least 25 percent of the property in the area. The group has six months from the planned start of the petition drive in January to accomplish this.
Chandler said they plan to argue that a town could fund a higher level of service with less cost to citizens by capturing property tax revenues that now go to the county, and with a 5.5 percent utility users tax that would cost most residents about $30 per month.
With those revenues, he said, a town could fund a police department of 15 uniformed officers and five dispatchers that would always have two officers on patrol. He says a local police force could dramatically improve response times over the County Sheriff, which can take as long as 43 minutes to respond to some low-priority calls.
He also argues that Rancho Santa Fe experiences a very high level of burglaries compared to other towns of it size and demographics — something he says a local police force could change.
“The best service we could have would be a local police department that would have a five or six minute response time,” proponent Marion Dodson said.
The CPR group also says that local government would do a better job of limiting development in the area, helping to preserve local property values.
“Counties have a pro-development bias,” he said. “Counties are for increasing development, increasing their tax base … towns guard their open space zealously and are sort of anti-development.”
Though many are happy with the level of services Rancho Santa Fe currently receives from the county, Chandler and the CPR group argue that the interests of the two bodies are inherently in conflict, and that incorporation would strengthen the Ranch position in the future.
He worries that the county will eventually push for the widening of the county through-fares that traverse the community, and that open spaces now taken for granted will disappear as high land prices drive more development.
“You go fast forward 25 or 50 years and now Chino’s is gone and the Sahm property’s been sold off, the reservoir has got homes on it. One by one, the open spaces will disappear,” Chandler said.
In documentation on its Web site, CPR says that though voters would have to approve a utility user’s tax, their ultimate financial burden would decrease because of services now performed (for Covenant residents) by the Association that would become redundant under incorporation. They predict possibly 40 to 60 percent reductions in Association dues.
Chandler said CPR will begins its petition drive likely in January, and that it will be handled through home meetings and volunteers — not paid signature gatherers.The RSF Association is not currently taking a position on the proposal, according to Manager Pete Smith. The RSF Association paid for several incorporation studies in the 1990s but abandoned the effort when it became clear that the boundaries of an incorporated Rancho Santa Fe would include other neighborhoods and homeowners associations.
The incorporation effort — which has simmered since a vote for it failed in 1987 — is likely to generate a hefty amount of controversy, especially among residents who are satisfied with the area’s current relationship with the county.
“I don’t think it’s in the best interest of the members of the Covenant,” said resident — and a former Association board president — Bill Hinchy, a strong critic of past incorporation efforts. “If you want to talk about land use control, can you think of any place in California or anywhere that has more control than the Art Jury and the Covenant over how land is used? I can’t. I can’t think of any benefits.”
Proponents of incorporation admit they will see hardened opposition to the idea, but they say they’re ready with good arguments.
“If they had visited even one or two of the towns I’ve visited [in researching incorporation], they would have a completely different opinion,” Chandler said of incorporation critics. “If we don’t do this now, 25 or 50 years from now it will happen. It’s going to happen.

November News

2007-11-19T22:21:00.000-08:00

Life is back to normal in Rancho Santa Fe. The Village is active, folks are going on with life.

Those that sadly lost their homes are settling into rental properties or staying with relatives or friends and going about the process of deciding to rebuild.

Now the holidays are upon us! Thanksgiving is just days away and then Christmas right around the corner. The gorgeous lights will adorn the village and the residents will decorate their homes in grand manor.

Check out the RSF Community Events link for details on the goings-on in the Ranch for the holiday season.

The Rancho Santa Fe Fire October 2007

2007-10-25T17:24:00.000-07:00

EXCLUSIVE REPORT ON THE RANCHO SANTA FE FIRE

October 25, 2007.Access into Rancho Santa Fe has been granted to residents only.

From a first hand visual perspective I saw the aftermath of the worst fire in San Diego history. Here are the details of what I saw.

On the northeast side of Rancho Santa Fe at the community of Cielo, the fire blackened the west side of the mountain. The fire was burning on both sides of Del Dios highway, dangerously close to homes in Cielo. At the east side of the Crosby Estates, the fire was stopped just a few feet from the Crosby fence line. No homes were lost in The Crosby Estates. At this time a total of 27 homes were either lost of damaged by the fire in the Covenant.

Heading west into the Covenant, the fire swept through the east side of a 250 acre private parcel.

On the west side of Cielo and to the southeast of The Bridges the fire destroyed one home. In the community of Rancho Del Rio and to the east a total of 16 homes were either damaged or destroyed. Reports from the RSF Fire district note that no homes were lost in Cielo, The Bridges, The Groves, Las Villas or Hacienda Santa Fe.
Within the village of Rancho Santa Fe on the small cul-de-sac street of Camino Selva, three homes were lost. All three were next door to one another.

As I drove into the west side of the Covenant the area was quiet and it appeared that the fire had not reached this section of the Ranch.

7 homes were either damaged or destroyed in the community of Fairbanks Ranch.

Our firefighters did a magnificent job of saving our town from what could have been a much greater disaster.

Per the Rancho Santa Fe Fire Departments website:

UPDATED WILDFIRE INFORMATION! 10/25/07, 11:20 a.m. -- We are repopulating the entire Rancho Santa Fe Fire Protection District effective 11:30 a.m. WITH THE EXCEPTION OF:
The community of DEL DIOS DEL DIOS HIGHWAY (East of Calle Ambiente) And LIMITED ACCESS to residents only (with proof of ID) to the streets of:
Las Colinas El Mirador La Valle Plateada El Vuelo Zumaque El Sicomoro
My thoughts are with all the people who lost their homes in all of San Diego County and to everyone that has survived this tragedy.
For more details on the Rancho Santa Fe fire please visit the Rancho Santa Fe Fire District website at www.rsf-fire.org.

The communities of Santaluz and Del Sur did not suffer any loss of homes in the Witch Creek fire.

News From The Rancho Santa Fe Review

2007-10-18T16:05:00.000-07:00

One of our local papers, the Rancho Santa Fe Review offers information on community activities and local information.

The town has been diligently on the new school project and here are some of the latest details on the progress per the "Review"

From an article by RichardBurdge the RSF School board president:

"After much discussion the board felt it was important to gauge public support for possible alternatives being considered to relieve overcrowding and improve school facilities. A written survey has been mailed to all registered voters in the district and will be asking for voter preference on the the following alternatives:
* A Rowe campus renovation in the range of $30-$34 million. This option maintains the Rowe school on its existing 9-acre property.
* A Rowe campus renovation and expansion in the range $39-$43 million. This option includes the above scenario and provides money to acquire adjacent land to the Rowe campus as it becomes available.
* The purchase of the Quantum property( located on Del Dios Hwy. and El Camino Del Norte) and construction of a district wide 5-8 upper school for approx. $60 million.
* The purchase of the Quantum property as land only purchase for $12-$16 million.
* A policy option of sending all district wide 7th and 8th graders to the Earl Warren Middle School.
rict's upcoming decision about palcing one of the alernatives on a bond ballot in 2008.

A few articles from the Rancho Santa Fe Review

2007-09-04T10:13:00.000-07:00

There is always something going on in the Ranch.
But, the Ranch residents will not forego their strong position to retain our small town feeling.
As for the school...we are moving along. Seems like the Calzada Del Bosque/Via De La Valle site is no longer in the running....

Lilian proposal will downsize in response to concerns
By Ian S. PortAssistant Editor
A major mixed-use development proposed for a corner in the Rancho Santa Fe village will be significantly reduced in size, after local residents and officials raised numerous concerns at the development’s introduction to the public last month.
Hopes suddenly dashed, school district pauses to consider next move
The Rancho Santa Fe School District spent months of effort and more than $140,000 preparing a bond effort for a long-awaited second school site, only to find out Aug. 7 that their choice property had been quietly purchased by a local resident and horse breeder.

Rancho Santa Fe Events Link

2007-07-30T12:19:00.000-07:00

Check out the link on my home page at http://www.ranchosantafehomes4sale.com/ titled " Read About Rancho Santa Fe Community Events" to find out what is happening in the Ranch!

RANCH DAYS IS COMING!

September 23-29, 2007

Local organizations will host a variety of events during this week-long celebration of Rancho Santa Fe's history. A schedule of events will be distributed at the 4th of July Parade and Picnic along with the famous Rancho Days T-shirts! Look for the display near the BBQ Picnic, sponsored by the Community Center and the RSF Golf Club.

Email me for details at dshort@coldwellbanker.com

Wells Fargo Housing Update

2007-07-20T22:44:00.000-07:00

The Fed Delivers a Sobering View on the Housing Outlook and the Dow Hits 14,000!
Stock investors hit the "Buy, Buy, Buy!" button all throughout Bernanke’s Humphrey Hawkins testimony, in a fashion that would make Jim Cramer proud; this despite a more sobering view on the most likely path of the U.S. economy from the Fed. The Fed lowered its central tendency forecast for real GDP by a half a percentage point on the high end for 2007 and by a quarter percentage point for 2008. Is the equity market in denial and bound to correct? It certainly appears that way at the time of this writing, or is the equity market finally looking past the housing malaise? Not only did the Fed lower its outlook for the economy for 2007 and 2008, Bernanke sounded less sanguine about the state of the housing market and the potential spillovers into consumer spending than he did as recently as May.
The June increase in mortgage rates and the move to tighten mortgage lending standards and end abuse lending practices, is bound to hold back housing demand for a time, delaying the much anticipated bottoming of the housing market. June brought a decidedly weaker view of the housing market than we have seen in some time. The National Association of Realtors pending home sales declined 3.5 percent in May. This is highly correlated with actual existing home sales activity one to two months ahead. The commerce department reported that residential building permits dropped 7.5%, to 1.406 million units in June, suggesting another move down in housing starts in the months ahead. The NAHB/Wells Fargo housing market index fell to a 16 year low of 24 in July, and builders reported less buyer traffic and anticipate somewhat weaker sales ahead. Mortgage delinquencies and foreclosures are still rising rapidly in most parts of the country, adding to the nation’s already-bloated housing inventories. Existing home inventories had moderated in the 4Q of last year, but over the last five months have been trending steadily higher once again. The housing market is still mired in a world of hurt, and if Jim Cramer were writing this, he’d be hitting the "House of Pain!" button.
It’s hard to overlook the fact that housing market is embarking on another leg down. It’s like the roller coaster at your favorite amusement park. The first drop is a doozy and you’re not sure if there’s even a bottom. This is where the housing market was in the second half of last year, when residential building was contracting at a 20 percent annualized clip every quarter. Then the coaster reaches a temporary bottom and even begins to rise a bit again, and everyone breathes a sigh of relief. This is where the housing market was in the November 2006 to March 2007 period, only to be flung lower once again. The second drop tends to be a complete surprise, but is not nearly as scary and large as the initial drop. This is what is happening today. Acknowledging the recent spat of disappointing reports surrounding the housing market, we have modestly lowered our forecast for housing starts over the next two quarters. We now expect housing starts to bottom in the first quarter of 2008, instead of the second quarter of 2007. This is likely to trim a tenth or two off of consumer spending and GDP growth all else being equal. It also raises once again the question of whether the U.S. consumer can hold down their lunch as the housing market roller coaster carries on its merry way. We still think they can, and that is the silver lining here.
Unless the housing market downturn leads to a material increase in the unemployment rate, the impact on spending will remain rather limited. This isn’t to say there will be no impact. Already in parts of California, like in San Diego, where housing prices trebled and reliance on ARM’s hit 70 percent of total originations for a time, we are already seeing measurable job losses in construction that has single-handily brought the local economy to a standstill, and may now be holding back consumer spending and retail employment. Other parts of the country are likely to see a similar pattern develop to varying degrees in the months ahead. Yet on average, the U.S. economy will muddle through this adjustment period. The national unemployment rate is expected to only rise by two-tenths of a percentage point over the next year and a half, and real income growth already at high levels for this expansion could improve further if inflation finally moderates. Perhaps this is what the equity market is cheering about. No matter what regulatory hurdles are erected on mortgage lending, or how many hedge funds heavily leveraged on MBS go belly up, the macroeconomic impacts on the economy are likely to be smaller than they were last year and will diminish further over time. Every month the housing market weakness continues, brings us one month closer to the end of the adjustment. I’m still a strong buyer of equities and the U.S. economy at these levels.
INFORMATION IN THIS REPORT IS THE PERSONAL VIEW OF THE WRITER, NOT NECESSARILY REFLECTING WELLS FARGO & CO. IT IS FOR YOUR PERSONAL USE. THE WRITER DOES NOT REPRESENT THAT IT IS ACCURATE OR COMPLETE. NOTHING IS GUARANTEED.

Welcome To Rancho Santa Fe Blog!

2007-07-18T08:37:00.000-07:00

This is the first posting of the Rancho Santa Fe blog. Stop by to find out about current events, news in the Ranch, new projects, town activities and more!

How is Rancho Santa Fe? Gorgeous...every single day!

Stay tuned for more information and details.