Coldwell Banker West | Home Simplicity Magazine, January 2022

J A N U A RY 2 0 2 2

homeofthe

month spanish revival MISSION HILLS HOME 4246 Trias Street

Living

LARGE THIS WINTER Is an Ideal Time to Sell Your Home

Guiding You

HOME

CONTENTS 4-14

GLOBAL LUXURY

8-11

HOME OF THE MONTH

16-19

LIVING LARGE

20

BOULEVARD

20

CHULA VISTA

20

EASTLAKE

20-21

EL CAJON

21

JAMUL

21

LAKESIDE

21-22

PACIFIC BEACH

22

POWAY

22-23

SAN DIEGO

23

SAN MARCOS

23

SPRING VALLEY

24-25

THIS WINTER IS AN IDEAL TIME TO SELL YOUR HOME

Information current as of 12/29/2021

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C H U L A V IS TA 3056 VINEYARD WAY

5 BR | 4.5 BA | 4,755 ESF $2,450,000 MLS# PTP2106589

CHUL A VI S TA

3229 VIA PONTE TRESA

5 BR | 4.5 BA | 3,579 ESF $1,999,900 - $2,299,900* MLS# PTP2108496

C H U L A V IS TA

821 SHADOW RIDGE PLACE 5 BR | 4.5 BA | 3,483 ESF $1,599,900 - $1,700,000* MLS# PTP2108057

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* Seller will entertain offers within the listed range.

C H U L A V IS TA 192 MINOT AVENUE

2 HOMES, 7 BR / 4 BA TOTAL $1,100,000 - $1,200,000* MLS# PTP2106131

CHUL A VI S TA 898 FIFTH AVENUE

3 BR | 2 BA | 1,204 ESF $680,000 - $710,000* MLS# PTP2108450

C O R O N A D O C AY S 1 THE POINT

4 BR | 4 FULL, 2 HALF BA | 6,451 ESF $7,499,000 - $7,999,000* MLS# 210001616

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EL CAJON

10831 QUAIL CANYON

4 BR | 3.5 BA | 3,254 ESF $1,550,000 MLS# PTP2107958

JAMUL

13715 SAGE MOUNTAIN LANE #2 5 BR | 3 BA | 3,900 ESF $1,200,000 MLS# PTP2106778

L A J O L L A - B IRD ROCK 5639 DOLPHIN PLACE

4 BR | 4 FULL, 2 HALF BA | 5,375 ESF $5,995,000 MLS# 210030270

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M IS S IO N H IL L S 4246 TRIAS

3 BR | 3 BA | 2,295 ESF $2,299,000 MLS# 210028611

MISSI ON H I L L S

3833 KETTNER BOULEVARD 2 BR | 1 BA | 744 ESF $1,200,000 MLS# 210029597

N O R T H PA R K 2657 BOUNDARY

4 BR | 3 BA | 3,510 ESF $1,999,000 MLS# PTP2108094

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S PA N I S H R E V I VA L MISSION HILLS HOME 4246 Trias Street San Diego, CA 92103 8

homeofthe

month

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The home features rich architectural details inside and out, with seamless modern features to meet your everyday needs.

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4 2 4 6 T R I AS ST R E E T SAN DIEGO, CA 92103 3+ Bedrooms, 3 Bathrooms, 2,295 ESF, Listed at $2,299,000

Welcome home to this Spanish Revival corner lot home

the views. End the night on the spacious rooftop deck

in one of San Diego’s most sought-after neighborhoods:

with views of Mt. Soledad, the harbor, Point Loma,

Mission Hills. Featuring elegant architectural details,

Mexico, and beyond. The yard is largely landscaped

three bedrooms, and three full baths. The fourth

with drought-resistant plants complementing the

bedroom, now used as a den, leads to a bathroom

home beautifully. Mission Hills is most revered due to

shared with another bedroom. The classic formal dining

its many magnificent properties, charming layout, and

room and chef’s kitchen offers a terrace and living room

its convenience to downtown, the beaches, airport,

nearby, perfect for entertaining guests and soaking in

schools, and freeways.

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PA C IF IC B E A C H 1672 MISSOURI STREET

4 UNITS, 11 BR / 9 BA TOTAL $3,491,888 MLS# NDP2112717

PACI F I C BE A C H 826 EMERALD STREET

4 UNITS, 12 BR / 8+ BA TOTAL $4,875,600 MLS# NDP2112721

PA C IF IC B E A C H 818 EMERALD STREET

4 UNITS, 12 BR / 8+ BA TOTAL $4,875,600 MLS# NDP2112720

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* Seller will entertain offers within the listed range.

RAMONA

23831 OAK MEADOW DRIVE 3 BR | 3 BA | 1,808 ESF $639,000 - $679,000* MLS# PTP2108193

S AN DIEG O

6379 CAMINO LARGO

5 BR | 3 BA | 2,731 ESF $1,460,000 MLS# 210033505

S A N D IE G O - C L A IR E M O N T

3825 MOUNT EVEREST BOULEVARD 3 BR | 2 BA | 1,196 ESF $785,000 MLS# PTP2108568

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S P R IN G VA L L E Y 713 PARKBROOK STREET 3 BR | 1 BA | 1,056 ESF $664,999 MLS# PTP2107972

W I L DO MAR

35662 BOVARD STREET

6 BR | 5.5 BA | 4,473 ESF $778,000 MLS# PTP2106657

Whatever your dream home may be, we'll help you find it.

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NMLS# 231073

Point Mortgage Corporation – Licensed by the California Department of Financial Protection and Innovation.

4130876.

H OLicense# ME SIM PLICITY MAGAZINE Corporate address: 2421 Fenton St., Suite A, Chula Vista, CA 91914. NMLS# 231073. Copyright © 2022. All rights reserved.

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Living

S

upersized homes in the suburbs and highmaintenance compounds fell out of favor as people embraced lock-and-leave lifestyles.

Then came the pandemic. People were confined to their homes with their families 24/7.

Work, school, entertainment, fitness and everything else now had to take place under one roof. Travel plans were shelved.

Less was definitely not more in 2020. Affluent buyers wanted space — larger houses with more rooms, more amenities, more security. Mega mansions, large gated estates and family compounds, which previously sat on the market for years, were suddenly selling.

According to “The Report,” recently released by the Coldwell Banker Global Luxury® program and The Institute of Luxury Home Marketing, the number of sales of homes over 5,000 square feet jumped 17% from 2019 to 2020. There was also an 8% drop in average days on market. Nearly 55% of Coldwell Banker Global Luxury specialists said that more square footage was the top amenity that flipped in demand from 2019 to 2020.

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LA

“Homes farther from the city center were extremely difficult to sell, and now they’re in the best market they’ve ever seen,” remarks Nathan Zeder of Coldwell Banker Realty in Coral Gables, Florida. “The suburbs had been very slow and rocketed up after June 2020.”

None of these developments surprise Sonia Hirt, a professor in Landscape Architecture and Planning at the College of Environment + Design, University of Georgia, who has studied the relationship between public health and architecture, urban planning, and suburbanization during the 19th and 20th centuries.

“Once the ramifications of the pandemic became clear, it was not surprising to see an interest in larger homes,” she says. “If the pandemic goes on for long enough and is deep enough, then I think people’s preferences for larger homes could shift for the long-term.”

How did space make such a rousing comeback? And does its renewed appeal signal a new era for luxury housing?

Desperately Seeking Space Agents who worked the suburbs in 2020 were inundated with requests for larger homes with amenities such as multiple offices and outdoor recreation spaces. Frank

ARGE Isoldi of Coldwell Banker Realty in Westfield, New Jersey, recalls one Westfield property that had a pool, lit tennis court and pond. “Normally, it would have taken a bit of time to find the right buyer,” he says. “But the first buyer who looked at the home purchased it.

Properties like this are now in high demand.” Homes with pools or outdoor entertaining spaces also sold quickly in Hinsdale and the western suburbs of Chicago.

“We represented many buyers with two or more kids who accelerated their move to Hinsdale,” says Dawn McKenna of Coldwell Banker Realty in Illinois. “They were planning to move to Hinsdale eventually , but the pandemic bumped up their timeline.”

Properties with acreage were also desirable, even if they needed extensive remodeling work. Tim Allen of Coldwell Banker Realty in Carmel-by-the-Sea/ Junipero points to a nearly $3.5 million sale located in a remote area in the Santa Lucia Mountains, just south of Carmel. “Despite the house being in dated condition, the property had plenty of acreage and expansive views,” he recalls. “It had been on the market five years ago and was almost never shown, due to its age and remote location. It was put back on market in August and received an offer in 30 days. The buyer wanted views and isolation.” On the East Coast, Michele Flood of Coldwell Banker Realty in Rye, New

York, recounts a sale involving a waterfront property with an older and smaller home that generated a bidding war between two buyers, one of whom wanted to reunite the house with its original adjacent property next door. “The price kept escalating,” she says.

Compounds, Mega Estates and Escape Houses “Buyers, straight across the board, are buying compounds,” proclaims Tim Smith of Coldwell Banker Realty in Newport Beach. “They want to live, work and play estates.”

Smith recalls three such Orange County properties that sold in 2020: a multi-structure residence on an acre in Laguna Beach that had been on the market for years, a mega estate on nearly an acre in Newport Coast, and a bayfront mega estate where they brought the buyer off-market. Smith sees the theme continuing into the next decade, since a new California law passed to address the housing shortage now prevents developers from combining two lots and building across property lines.

“Double lots and compounds are becoming more scarce, with a higher demand,” he says.

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One mega estate he sold last year off-market — a Newport Coast 18,000-square-foot stunner on two lots, with a 12-car garage, theater, gym, sauna, office and pool — set the record for the highest-priced sale in Orange County’s history, he says. “It has been a paradigm shift, where consumers are reallocating more funds to where they are living now, instead of waiting for their dream home,” he explains.

And that dream home must now serve multiple functions.

Eddie Reay, COO and partner of Southern California luxury general contractor and developer Dugally Oberfeld Inc., says home offices are “now a critical necessity that must be much more functional,” he says, while creating children’s learning spaces “with technology seamlessly incorporated,” was another necessity introduced last year. “Outdoor entertainment spaces are more desirable than ever” so homeowners “can connect with those they care about versus going to restaurants and public spaces.”

Tennis courts, bocci ball and sport courts also grew in popularity.

Many of Dugally Oberfeld’s affluent clients want to create a “vacation at home” experience. “Because of the recent rules on confinement and limitations on travel, our clients are trying to create sources of relaxation, entertainment and wellness within their home,” says Reay. “Oftentimes, we hear they want their home to feel like a luxury hotel.”

The desire to be surrounded by amenities and a resort-like atmosphere also manifested in searches for “escape houses” or vacation homes within driving distance to one’s primary residence last year. “The desert has become the Hamptons of Los Angeles and Orange County,” says Reay. The other trend to emerge in lands-strapped California is people purchasing multiple lots in different locations and building 18

multiple houses. “That’s going to be the substitute in the near future,” predicts Smith. “Especially with the new ADU law, which allows a primary and secondary accessory unit to be built on almost any lot to help out with the housing shortage, we’re going to see more accessory dwellings.”

Aspen, the Epicenter No other market illustrates the insatiable demand for space than Aspen and the Roaring Fork Valley. The Rocky Mountain region was one of the year’s hottest resort destinations. According to the Aspen/Glenwood MLS for Pitkin, Eagle and Garfield counties, nine properties over 100 acres sold last year, compared to just three in 2019. Sold properties between 35 and 100 acres also increased 93% from 2019 to 2020. Among these sales, the average price per acre and price per sale increased 40% and 45%, respectively.

“As people shifted their lifestyles, they embraced Aspen as a four-season destination for its schools, cultural amenities and outdoor space,” says Carrie Wells, a veteran Aspen real estate agent who earned the No. 1 ranking in sales volume within the entire Coldwell Banker network for 2020. “For many of my clients, it was an eye-opening experience to be in Aspen during the off-season, typically April through June. We had such great weather that people were hiking and biking, and they even discovered skinning, or uphill skiing. It was so popular that all the equipment sold out in local stores!”.

Wells points to several sizable 2020 sales. A contemporary seven-bedroom, new-construction home designed by Ro Rockett Design, perched on an acre on Red Mountain with 10,000+ square feet and views from Independence Pass to Mt. Sopris, sold for $31.8 million in late summer. The sale price was a record for the year, and she represented both the seller and buyer in the transaction. The other notable sale was a $29.6 million contemporary mountain home

with private river frontage, six bedrooms and 10,626 square feet on Willoughby Way, one of the most desirable streets in Aspen.

“Last year, we saw a shift from what was previously popular,” she notes. “Before the pandemic, everyone wanted to be in the center of the action, where they could walk everywhere and had slightly smaller square footages.

Now, people want more outdoor space and private outdoor amenities with land around them, a few miles from the Core.”

Reay predicts two groups of homeowners will emerge from the pandemic: “A lot of people will forget what has happened, and a lot of people will be traumatized when it comes to being in confined spaces.”

Only time will tell what the future holds for luxury housing, but the lessons of 2020 will not soon fade.

Heightened demand for these types of properties, coupled with a lack of inventory, also drove buyers to take swift action. Wells recounts how an owner of a prime West Aspen home situated along the Aspen Golf Club called her on a Saturday morning and said, “We’re thinking of selling.” Wells toured the property that afternoon, taking photos and videos to share with a potential buyer she already had in mind. The buyer flew into Aspen the next day, and the two parties inked out a deal before the home ever made it to the MLS. “It was the highest price-per-square-foot in the neighborhood,” she says.

The Big Picture While space will likely continue to power the luxury real estate market through 2021, it remains to be seen whether the trend has staying power. Smith is bullish: “I think we’re going to see vulnerabilities with this pandemic and future pandemics. I don’t see the search for space as a short-lived trend. This is going to be something that people will continue to want over the next decade.”

Others are less sure. A majority of Luxury Property Specialists surveyed for “The Report” expected buyers to eventually revert to wanting homes with smaller footprints in five years. Suburbanization trends also tend to be cyclical. Hirt points to various pandemics in the late 19th and early 20th centuries, which accelerated growth of some of the nation’s early suburbs. Once the viral illnesses got under control, “the paradigm shifted and the focus turned back toward density,” she notes.

Source: Living Large (2021). Coldwell Banker Global Luxury Blog. https://blog.coldwellbankerluxury.com/living-large/

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BOU L E VA R D

EASTLAKE

2567 LIVE OAK TRAIL 1 BR | 1 BA | 500 ESF $325,000 MLS# PTP2108115

764 EASTSHORE TERRACE #147 1 BR | 1.5 BA | 669 ESF $390,000 - $399,000* MLS# PTP2107163

CHU L A V I S TA

EL C AJON

121 ORANGE AVENUE #29 3 BR | 2 BA | 1,493 ESF $212,500 - $250,000* MLS# PTP2108213

1782 NARANCA AVENUE 3 BR | 2 BA | 1,919 ESF $799,000 MLS# PTP2108604

EASTLAKE

EL C AJON

773 BROOKSTONE ROAD #304 2 BR | 2 BA | 956 ESF $500,000 MLS# PTP2108353

13604 AVENIDA DEL CHARRO 4 BR | 2 BA | 1,421 ESF $699,000 MLS# PTP2107910 * Seller will entertain offers within the listed range.

E L CA J O N

JAM U L

12044 ROYAL ROAD #122 3 BR | 2 BA | 1,296 ESF $220,000 MLS# 210033536

18582 BEE CANYON ROAD 3 BR | 2 BA | 900 ESF $349,900 MLS# PTP2106558

E L CA J O N

LAKESIDE

255 E BRADLEY AVENUE #70 2 BR | 2 BA | 944 ESF $124,999 - $144,999* MLS# PTP2108505

11949 RIVERSIDE DRIVE #83 2 BR | 2 BA | 1,368 ESF $170,000 MLS# 210032209

J A MU L

PAC IFIC BEAC H

17869 LYONS VALLEY ROAD 2 BR | 1 BA | 704 ESF $450,000 MLS# 210026252

1760 DIAMOND STREET 10 UNITS, 26 BR / 23 BA TOTAL $8,519,000 MLS# NDP2112718 HOME SIMPLICITY MAGAZINE

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22

PA CI F I C B E ACH

SAN D IEGO

2050 GARNET AVENUE 8 UNITS, 26 BR / 17+ BA TOTAL $7,527,600 MLS# NDP2112719

1185 30TH STREET 4 BR | 2.5 BA | 1,110 ESF $859,000 MLS# PTP2107211

PO WAY

SAN D IEGO

13207 HOLLY TREE LANE 3 BR | 2.5 BA | 1,368 ESF $599,000 - $629,000* MLS# PTP2108595

4300 NEWTON AVENUE #43 4 BR | 2.5 BA | 1,936 ESF $639,900 - $649,900* MLS# PTP2108590

SA N D I E G O

SAN D IEGO

6752 SOLITA AVENUE 10 UNITS, 30 BR / 20 BA TOTAL $4,250,000 MLS# NDP2112716

3340 DEL SOL #195 2 BR | 2 BA | 1,440 ESF $98,500 MLS# PTP2107468 * Seller will entertain offers within the listed range.

SA N D I E G O - DE L CE R R O

SAN M ARC OS

4966 WARING ROAD, UNIT C 2 BR | 2.5 BA | 1,296 ESF $484,500 MLS# 210032326

901 MIRA LAGO WAY 4 BR | 2.5 BA | 2,186 ESF $649,000 MLS# 210031581

SA N D I E G O - E NCANT O

SAN M ARC OS

6720 PALO ALTO LANE 3 BR | 2 BA | 1,102 ESF $649,000 MLS# 210033892

964 MIRA LAGO WAY 3 BR | 2.5 BA | 1,725 ESF $574,000 MLS# 210031582

SA N D I E G O - OTAY ME SA

SPRIN G VALLEY

2950 IRIS AVE SPACE #8 3 BR | 2 BA | 940 ESF $155,000 MLS# PTP2105949

1115 GRAND AVENUE 3 BR | 2 BA | 1,680 ESF $674,000 MLS# PTP2107821 HOME SIMPLICITY MAGAZINE

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This Winter Is an Ideal Time to

SELL YOUR HOME

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The market remains hot, but it’s still important to make sure your property appeals to buyers before listing.

Check out a few easy steps you can take to help your home stand out and sell quickly.

By ALICE GARWOOD

If you’re thinking about listing your home in 2022, there’s no reason to wait until the spring, as low housing inventory and high demand continue in many parts of the country. Winter typically has been a slow time for real estate sales in most parts of the country, but as we kick off the new year, serious buyers likely will pick up where they left off in 2021, facing stiff competition for properties that are selling quickly and for high prices.

Despite the hot market, it’s still important to make sure your property appeals to buyers before listing. Here are a few easy steps you can take to make sure your home stands out.

Sort through holiday decorations. Make the

dreaded annual ritual of taking down decorations more productive by using it to begin clearing out unwanted items as well. Before stuffing all your trimmings into plastic bins, take stock of everything you have – lights, ornaments, wreaths, figurines – then toss or donate those you no longer want.

Boost curb appeal. You get only one chance to make a positive first impression. To make the exterior enticing, paint the front door, pressurewash the driveway and patios, clean out gutters, trim shrubs and trees, and add greenery and fresh flowers to your entryway and front porch.

Deep clean. A spotless house

will show buyers your property is well taken care of. Clean from top to bottom, including windows, window treatments, ceiling fans, baseboards, countertops, cabinets, flooring and appliances.

Repaint in neutral colors. A fresh coat of paint can make the interior feel new. To appeal to a broader audience, choose warm neutral colors, such as beige, tan, gold or gray.

These easy steps will make your property stand out, appeal to more buyers and sell quickly.

Source: https://blog.coldwellbanker.com/this-winter-is-an-idealtime-to-sell-your-home

Declutter and depersonalize. Decluttering is

the key to making your house appear more spacious.

Go through each room and decide which pieces of furniture and other things to keep, donate or put in storage, and remove family photos and personal knickknacks.

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GREAT FUTURE IS IN GOOD CHARITY.

Find out how you can help by visiting

cbwgives.com 26

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GUIDING YOU HOME | SINCE 1906 coldwellbankerwesthomes.com ©2022 Coldwell Banker Real Estate LLC. All Rights Reserved. Coldwell Banker® and the Coldwell Banker Logo are registered service marks owned by Coldwell Banker Real Estate LLC. Coldwell Banker Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each office is independently owned and operated. DRE #01481919

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