La Jolla real estate is a much sought after commodity. The area is recognized for its comfortable size - about 20 square miles, and with a population of about 35,000, has a multifaceted culture in a spectacular natural setting.
La Jolla is a one of a kind, world famous city and provides tremendous residential real estate value. In its July 2002 issue, the Robb Report designated La Jolla, the "jewel" of San Diego, as the best place to live in America. It is one of the wealthiest communities in the entire USA. Average property values are measured in the millions and real estate gets snapped up quickly. Home prices range from $900,000 to $12 million.
One of the most important investment decisions you will ever make will be your selection of real estate as a home or an investment. When purchased and managed properly, California real estate can be one of the safest and most profitable investments available today. For other useful information on the area click on the links below.
La Jolla Real Estate
Area Information
La Jolla Homes
Read this article or click on these links for other information.
In La Jolla you'll find small beach cottages and elaborate custom estates with up to five acres of land. Prices vary from street to street. View home sites are the norm in La Jolla. The wooded hillsides that rise to around 1000 feet above sea level offer many spectacular views with prices for these views costing 10% to 50% more. There is virtually no vacant land left to develop in La Jolla and the property values are high and getting higher. On occasion, older existing homes are being purchased, and then demolished to allow a brand new home to be erected on the site.
La Jolla was one of the earliest colonies in the San Diego area in the early 1800's. In 1886, Frank Terrill Botsford, referred to as the "father" of La Jolla, purchased the chaparral and sage covered land without realizing it would be very difficult to find a good, reliable source of drinking water. He decided to sell, and a public auction was held. The La Jolla land sold for what amounted to only $1.25 an acre ... land which would be more than $2 million an acre today!
There are many people who call La Jolla home, and there are many others who have a second or investment property in La Jolla. Investing in real estate can be part of a solid financial strategy. The most important considerations are:
1) Know the market...what is happening in the area and economy
2) Know how to analyze a property
3) Know your limits (dollar and risk wise)
If you're considering this prime area for your next home, please contact Hannon Properties. Click here to contact us.
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