About Encinitas

Encinitas (zip code 92024) is located on the Pacific coast bracketed by the Batiquitos Lagoon to the north and the San Elijo Lagoon to the south. In 2010 the population was 59,518.

Encinitas consists of five areas:

• Old Encinitas: a small beachside area featuring a mix of businesses and housing styles. The Encinitas welcome arch is located here. Old Encinitas is split from New Encinitas by a low coastal ridge.
• New Encinitas: a newer region which featuring golf courses, many shopping centers, and composed of larger tract homes.
• Olivenhain: a semi-rural region in eastern Encinitas, composed of mostly single family homes and an active 4-H Club.
• Leucadia: an older community of the city. Leucadia features tree lined streets and boulevards. The community features art galleries, unusual stores, and restaurants, along with single family homes.
• Cardiff-by-the-Sea  Encinitas' southernmost oceanfront community, which features streets named after British cities and classical composers.

Encinitas takes its name from "Encina Canada" Spanish for "Hills of Live Oaks." rule. English spiritualists named their settlement Leucadia after one of the Greek Isles. The name means "Isle of Paradise" or "Place of Shelter." In 1907 the population was just 22. In 1909, J. Frank Cullen bought a large piece of land in San Elijo, named his town in 1914, calling it "Cardiff-by-the-Sea," after Cardiff, Wales. The Olivenhain" area of Encinitas was established in 1884 by a small group of German immigrants. The City of Encinitas is made up of five communities each with its own distinctive character. "Historic Encinitas" fills the Highway 101 Corridor that parallels the beautiful beaches and ocean. "New Encinitas" centers on El Camino Real ("The Kings Highway" founded by the early missionaries from Spain). "Cardiff-by-the-Sea" is made up of quaint homes dotting the hillsides overlooking the sea. "Leucadia" is famous for its giant eucalyptus trees that line the main thoroughfare on the Coast Highway. "Olivenhain" (which means "olive grove" in German) boasts plenty of open horse country, pastures, and a rural way of life.

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Bank Owned Homes in Encinitas

Let us help you purchase a bank owned home and rebate you 25% of our commission (subject to bank approval) on homes selling for $400K or more.  If you are ready to jump and financially qualified we can help steer you through the bank rapids to potentially the home of your dreams at a bargain price and receive $1000's in a rebate.

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Short Sales in Encinitas

We can help you purchase a short sale home.  However, please bear in mind this can become a very complex time consuming process that can takes many months and still lead to disappointment.  In many cases a short sale home must be bought "as is" with minimal warranties.  Many normal sale homes are priced aggressively and you may find one that meets your needs at a great price that will be far easier to purchase.  We can rebate 25% of of our commission on a normal sale over $400K in value and this will help you cover closing costs.  We are experts in finding the right homes for clients in North County San Diego and can negotiate the very best price for you and help you cover those closing costs.

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Current Market Trends in Encinitas

The spreadsheets below track two key metrics to help determine the state of the housing market in Encinitas zip codes. One metric measure what percentage of homes are "distressed". These are homes where the home owner is having difficulty paying of the loan. In an extreme case the home becomes bank owned and is a bank sale but in many cases a bank will allow for a short sale where the home is sold and only part of the loan is paid off with the proceeds thus falling short of the full loan amount. We have a distressed home expert on our team to help you navigate this complex area if unfortunately you are in this predicament.  As distressed homes are typically sold below market value the higher the percentage of distressed homes in an area the more likely home prices will remain depressed.  A high inventory of homes for sale relative to how many homes are sold is another key factor. The spreadsheet below calculates the distressed home % and then also calculates how many months it will take to sell off the current inventory of homes for sales.  Please refer to the active column for how many homes are for sale in a given month.  High inventory and high % of distressed homes have plagued the USA home market for the last few years but not all areas are the same. Not only do zip codes vary but developments and even streets in an area can buck a negative trend. When we develop an analysis of your home you may wish to sell or purchase we take into account all these factors and more.  Please email us or call us more information.

All statistics quoted below were derived from Sandicor's MLS data and used with their kind permission.  Information on bank and short sales is based on how agents code their MLS information and may not always be 100% accurate.  However, the overall trends indicate should be meaningful.  The information here is owned by our brokerage office is provided to help homeowners and buyers understand their specific local market conditions.  Use by other parties requires our written approval.

ZIP 92024 Market Trend Summary

A good start to the year with just 10% homes sold distressed and this was the third month in a row with low numbers.  There are 118 homes for sale (all stats on our web sites are for detached homes) with four bank owned homes and 15 short sales. That mix may push the distressed sales up a little but Encinitas remains a very positive situation.

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