Rancho Santa Fe Real Estate

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Rancho Santa Fe real estate is in great demand! Residents of this area often refer to their community as "The Ranch." Large home sites are the norm in Rancho Santa Fe with most properties ranging from two to four acres each. Home prices range from $900,000 to about $12 million. It is one of the ten wealthiest communities in the entire USA.

Despite this wealth, the area has a low profile and privacy is a prized feature.

Rancho Santa Fe Real Estate
Rancho Santa Fe Homes
Area Information

The market in Rancho Santa Fe is very active, and properties are continuing to increase in value in 2004. There are some brand new developments in the area, including Crosby Estates. When purchased and managed properly, Rancho Santa Fe real estate can be one of the safest and most solid investments available and one of the most important investment decisions you will ever make.

Rancho Santa Fe is a rather exclusive area, but property hasn't always been as valuable as it is today. In 1906 the Santa Fe Railway, purchased the entire ancestral grant of the Osunas people, a local indian tribe. The local news heading in the San Diego Union, August 17, 1906 -"Santa Fe Buys San Dieguito Big Ranch Consisting of 8650 Acres Sold for $100,000. Eucalyptus trees will Be Planted for Railroad Ties." The price paid worked out to about $11 per acre. From 1923-1929 large parcels of land were sold for citrus and avocado groves. Homes were constructed, many on hilltops with fabulous views of the mountains, ocean and valleys. Building and landscaping requirements were a part of the purchase contract in the early years.

In 1927 a non-profit association was formed. The Rancho Santa Fe Association’s purpose was to administer the Protective Covenant that seeks to insure the "preservation, maintenance, development, and improvement of property owners and in conformance with the general community plan." The "Covenant" as it is known helps to maintain the character of all developments in the Covenant lands area. Land today goes from about $900,000 per acre in a 1-2 acre parcel to about $600,000 per acre in a 10 acre parcel.

Some agents say it's nearly impossible to get anything in the Ranch for less than $1 million. The larger properties in the area over $4 million are less liquid and may take more time to sell, but that matters little to their owners, and the properties do continue to appreciate in value. It always takes longer to sell multimillion-dollar homes because there are fewer customers in the $4 million-and-up category. Still, sales in the Ranch have been steady for several years and there is no signal of a downturn – just anecdotal evidence that higher priced homes are remaining on the market for long periods.

Many people ask how they can be confident they are paying a fair price for a given area property. A home is worth what someone will pay for it. Everything else is an estimate of value. To determine a property's value, most people turn to either an appraisal or a comparative market analysis. An appraisal is a certified appraiser's estimate of amenities, energy efficiency, the quality of the of the value of a home at a given point in time. To make their determination, appraisers consider square footage, construction quality, design, floor plan, neighborhood and availability of transportation, shopping and schools. Appraisers also take lot size, topography, view and landscaping into account. A comparative market analysis is an informal estimate of market value, based on comparable sales in the neighborhood, performed by an agent or broker. You can do your own cost comparison by looking up recent sales of comparable properties in public records. These records are available at local recorder's or assessor's offices, through private companies or on the Internet.

Any increase in home value depends upon the same factors: quality of the neighborhood, growth in the local housing market (very local) and the state of the overall economy.

It's an exciting time in the San Diego housing market. With a reputation for integrity and service since 1914, The Willis Allen Company would welcome the opportunity to help you find the home of your dreams. For further information, please call us at 858.459.4033. Our knowledgeable and professional team of sales associates are supported from six strategically located branch offices throughout San Diego County.

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