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Januray 16th, 2025
Happy Thursday
The devastating fires sweeping through LA have me at a loss for words. While San Diego has been spared so far, the complete absence of rainfall scares me... We should all stay alert and prepared.
I'm getting lots of questions: Will the fires impact our SD real estate market?
Short answer:
Not the sales market. But rentals, yes.
Long Answer:
I helped clients secure a luxury short-term rental in Del Mar at the beginning of last week. Days later, after the contracts were signed and the $ was in, the agent texted me:
Thousands have been displaced from their homes. Being so close to LA, most of us here have connections up there, and quite a few people have made their way down to San Diego looking for temporary solutions.
Just this past weekend, I met someone from the Palisades at my open house in Rancho Santa Fe. Though he managed to defend his house and it didn't burn down, he and his family are staying at their second home in Del Mar. The really scary part?
Even those whose homes survived can't go back.
The whole area is toxic - especially with all those older homes built with lead paint and asbestos going up in flames. When those materials burn... it creates an incredibly hazardous situation. It's truly heartbreaking.
Tragically, the fires have deeply impacted many in our Compass community, with some losing their homes and others facing significant challenges. To help, we are raising funds through Compass Cares to provide assistance and relief to those affected. If you’re able to, please click here to donate and consider sharing this fundraiser with those looking to help.
Here are 3 properties, 2 RE news updates, and 1 thought from me + a market snapshot.
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New listings, pendings & sales are still climbing. We will continue to see market activity pick up.
Median Prices This Week
3 Properties to check out
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709 Puebla St
Encinitas, CA 92024
$1,490,000
This is the lowest priced single family detached home in Encinitas. It's also a distressed sale. Great location. House will need some work.
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1737 S Pacific St
Oceanside, CA 92054
$5,495,000
People are still sleeping on Oceanside! If you haven't been in a while, drive up and check it out. There are some great restaurants (highly recommend a Tanners Burger) if this house was Oceanfront in Encinitas... it would be 3x the price. see the next:
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1376 S Coast Highway 101
Encinitas, CA 92024
$14,995,000
Perched above Swamis, the views don't get better than this. Can you imagine waking up, working out, cold plunging & warming up in the sanua every day there? $ cant buy....
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The reported number is over 12,000. Unimaginable. Initial estimates are in excess of $250 BILLION in damages.
There are always pros & cons. Rent vs Buy. The renter population in the U.S. has reached a new high of over 45 million households, making up more than one-third of all households.
The Aspen Institute reveals a massive wealth gap: homeowners boast a median net worth of $396,500, while renters sit at $10,400.
It doesn't always make sense to buy, and in some cases it is smarter to rent.
Do you know someone on the fence? We have great tools/ tips that can help them decide either way.
1 Tip or Thought
Document Everything Before you need it
Record a detailed video walkthrough of your home today - it could be invaluable later. Here’s why:
- Walk through every room with your phone or camera, recording a clear video
- Point out and describe valuable items, including electronics, jewelry, art, and family heirlooms
- Open closets, drawers, and storage areas to document their contents
- Capture unique features of expensive items
- Store the video securely in cloud storage and share access with your family
Documentation is essential whether you RENT OR OWN. Most rental agreements require renters insurance, and this video evidence can make an enormous difference if you ever need to file a claim.
The devastating LA fires remind us that disasters can strike without warning. I hope you’ll never need this documentation, but having it ready can save tremendous stress and frustration during an already difficult time.
My heart goes out to those affected by the LA fires. The losses underscore why we all need to take these precautions. If you haven’t documented your home yet, please do it today - and share this advice with loved ones so they can protect themselves too.
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Check out the January Calendar of events here.
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DISCLAIMER: Due to recent changes by California Association of Realtors, and the SDMLS Clear Cooperation Policy (the “Policy”), Brokers are limited in their ability to share off-market properties. It is the intent of this letter to be in compliance with the Policy. For this reason, Talechia & Associates can only share such property information with clients of Talechia & Associates. If you would like more information on our properties that are not publicized in the MLS, and becoming a client of Compass, please contact Josh (858) 585-0309 or Talechia (858) 229-2181
Compass is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. License Number 01991628, 01527235, 01527365. All material presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to the accuracy of any description. All measurements and square footage are approximate. If your property is currently listed for sale this is not a solicitation.
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