Real estate scoping - Del Mar? (San Diego, Corona: house prices, purchase, income)

[Tenzo]

Spent last week in SD looking at real estate.

Downtown might be nice if you are in your lower 20's.
Coronado reminds me of disneyland. Overdeveloped and all tourists.
Liberty Station? well, at least you can get to the airport quickly.
La Jolla? That place is hurting. I'd say about 25% of the stores are in trouble and it's way to sterile and full of old people.
Solano Beach; what beach? it's all cliffs.
Del Mar. <DING> We have a winner.

West Del Mar (west of 5 and then west of the canyon) seems like a nice place. Any inside comments?

[Tenzo]

Oh yeah, Information about us.

Will put down about $500K on a place. Looking to spend up to $1M
Wife is a doc and will make $250K, I'm an IT geek and make betweer $120K - $200.
Though, I'd rather just retire in a couple of years.

I'm 48 she is 41. No kids, one fluffy dog who works for disney.

[kettlepot]

Yes, Del Mar is very nice. It has an active though small business area along Pacific Coast Highway. Your budget is realistic for house prices. Gotta give you kudos for coming into the area with realistic expectations. Some people move to San Diego/California thinking they are going to get an ocean view mansion for 500k.

There is one particular part of Del Mar that is supposedly not quite as nice as the other areas. Unfortunately, I don't know for sure where this area is, just be on the look out for it. Perhaps other posters, or people you meet on the street will tell you where it is. Realtors may not be able to tell you for legal liability reasons.

[Tenzo]

We are coming from Chicago (by way of 4 years in Philly and 3 years in Columbus)
Single family homes in Chicago start at 800K.

So lets see, Chicago ..... Del Mar.................. Chicago.... Del Mar.
(Anyone want to bet which one I pick

Only plus for Chicago is that there is no city income tax and state income tax is a flat 3%.
Plus property tax reates are less and on a lessor base. I could retire in Chicago. Del Mar I gotta work.

[kettlepot]

No city income taxes in Del Mar, or I believe in any city within California. I believe cities in CA were never given the authority to levy income taxes. Of course you and your wife will be in the top marginal state tax bracket, 9.3% (9.55% - temporary surtax).

Real Estate taxes in California are controlled by Prop 13. Taxes should run 1.2% of purchase price per year. 1% is your basic real estate tax, plus there will be some bond financing and some small miscellaneous fees to equal 1.2%. California real estate tax rates are actually low, however, the base on which they are levied is very high.

[Tenzo]

It's 2% here in Columbus Ohio on a $460K place. (plus a 2.5% city wage tax on top of the state tax)
So it looks like taxes won't be that big a problem.

How many people say that when moving to CA?

So where is this 'tech triangle' I keep hearing about?

[bloom]

Is that your fluffy pooch with Hannah M
? What's his/her income contribution?

[Tenzo]

yeah. He was also in Doctor Dolittle 4 - Tail to the chief (Direct to DVD)
About 2 months ago we did Chicago with Jennifer Anniston.

His normal gig is going to hospitals and seeing kids.

His income usually pays for a one week vacation for him and us wherever we go.
In Chicago they put him up at the four seasons and we got to stay with him. http://tenzo.org/photo8.htm
So mainly the novelty pays more than the money.

It's also a way to explain to the realtor why I bring a dog to the open houses.



Del Mar seemed to be very Dog Friendly. Which was a consideration also.
La Jolla wasn't that dog friendly

[NoTimeToTalk]

Thanks for the info.

[bloom]

Originally Posted by Tenzo

yeah. He was also in Doctor Dolittle 4 - Tail to the chief (Direct to DVD)
About 2 months ago we did Chicago with Jennifer Anniston.

His normal gig is going to hospitals and seeing kids.

His income usually pays for a one week vacation for him and us wherever we go.
In Chicago they put him up at the four seasons and we got to stay with him. Photo Gallery #8
So mainly the novelty pays more than the money.

It's also a way to explain to the realtor why I bring a dog to the open houses.



Del Mar seemed to be very Dog Friendly. Which was a consideration also.
La Jolla wasn't that dog friendly

That is cool, and you seem to have the right attitude: non-exploitive, responsible, fun, entrepreneurial, good vacations, celebrity work