The Reality of Water in Northern San Diego County

Northern San Diego County has prepared for both the current and future drought situations. 
The region has been hard at work for the past decade diversifying its water supply in order to reduce 
reliance on imported supplies.  Water agencies have planned for Northern San Diego County’s needs through times of drought, economic expansion, and population growth.

Where do our current water supplies come from?

While each individual local water agency in the county has a slighty different water supply portfolio, in 
general, the supplies in the region for Fiscal Year 2016 will come from:

64% from the Colorado River via Metropolitan Water District, water transfer agreement with 
the Imperial Irrigation District, and lining of the Coachella and All American Canals.

19% from the State Water Project comes from Northern California, also known as the Bay-Delta

17% from local supplies

 

Rebates

These rebates are provided through SoCal Water$mart, a region-wide program that offers rebates for devices that 
improve water use efficiency at residential properties. Funding is limited and available on a first-come, first-served basis. 
Visit SoCalWaterSmart.com for more information.

 

Carlsbad Seawater Desalination

Construction is more than 90% complete on the Carlsbad Desalination Project, which includes the nation’s largest, most 
technologically advanced and energy-efficient seawater desalination plant, a 10-mile long pipeline and 
improvements to Water Authority facilites for distributing desalinated water throughout San Diego County.

The Carlsbad Desalination conveyance pipeline, a 54-inch water delivery pipeline that will travel eastward from the 
seawater desalination plant through Carlsbad, Vista and San Marcos to the San Diego County Water 
Authority’s Second Aqueduct connection facility in San Marcos.

The $1 billion project is expected to produce drinking water for the San Diego region in fall 2015, providing a major new 
drought-proof water supply that will meet about 7 to 10 percent of the county’s water demands. To keep the public 
informed about the progress of construction, regular construction updates on the timing and potential 
detours and closures will be posted on the project website at www.carlsbad-desal.com.
With San Marcos leading the way in water conservation in Northern San Diego 
now is the perfect time buy!  

It is a seller's market

The National Association of Realtors says on average, properties were on the market for 40 days, the third-shortest time since the association began tracking such date in May 2011.

Giving sellers more good news is the Association Pending Home Sales Index, which reports that pending sales in May were at their highest level in nine years and at a good price. Lawrence Yun, the national organization's chief economist, said in a statement that in May, 40 percent of homes nationwide were sold at or above the asking price.

California, Texas and Oregon were among the states that had properties sold within a month. Maine, New Hampshire and Alabama were among the one that saw the longest period, more than 90 days.  In May, San Diego homes were purchased on average within 36 days, according to the Greater San Diego Association of Realtors. 

 

Written By Tehran Aram, Real Estate and Mortgage Analyst

California Prop 60 And 90 Information

Transfer your CA property tax base with Prop 60 and 90?

The idea of settling in San Diego attracts many who are retired or considering retirement–especially if they are California residents who qualify for Prop 60 or 90. Hardly a week goes by without someone seeking retirement relocation to San Diego and if they currently live in California, these propositions might certainly influence home buying decisions.

Are you over 55?

You may be eligible for property tax relief using California Proposition 60 and Proposition 90, which allows age-eligible homeowners to sell their principle residence or purchase (or construct) replacement residences of equal or lesser value. The goal is to provide an incentive for residents (age 55+) of certain California counties to sell their residence and move into equal or less expensive homes without having to pay more in property taxes.

What are the differences between Prop 60 and Prop 90?

Proposition 60 relates to transfers of base year values between properties located within the same county. Proposition 90 relates to transfers of base year values from an original property in one county to a replacement property in another county within California. For a transfer to be eligible under Proposition 90, the county in which the replacement property is located must have adopted an ordinance that allows such transfers. Currently, the following eight counties have passed ordinances authorizing these intercounty transfers:

Alameda  Los Angeles  San Diego  Santa Clara
El Dorado  Orange  San Mateo Ventura

This list may change at any given time. Please call your county assessor’s office to check if your county has passed such an ordinance.

What Next?

If you qualify, you must file an application with your local Assessor who will determine if the transaction qualifies. This is a one-time only benefit and must be filed within a prescribed time period. You should verify that your current home and its replacement qualify before making your move. You will also need to contact the Assessor’s office to obtain a claim form for either Prop 60 or 90.

For additional information, we recomment you visit  State of California, Board of Equalization

Tips for Finding the Right Rental Property

If you like the idea of investing in something you can touch and feel, buying a rental property can be an attractive option. The key, experts say, is purchasing the right place up front. Here are some tips on locating a good rental and sizing it up.


Buy in a desirable location. Good schools, low crime rates and nearby amenities like parks and shopping all matter in a real estate search. Some experts suggest limiting your search to properties near your home (say, a 20-minute drive) so you can keep ties with tenants and respond quickly in case of emergencies. Wherever you search, look into local vacancy rates and rental prices for comparable properties, and ask whether any new apartment buildings are in the works.
Consider landlord laws. Being a landlord means being up to speed on all applicable laws, from federal fair housing laws to local ordinances that may dictate regulations like minimum square footage or ceiling height for bedrooms. If you're buying into an association, consider those rules as well. Many condos, for instance, cap the number of units that can be rented at any given time.


Total your expenses. Think beyond the mortgage. Tally up real estate taxes, association fees, the cost of finding tenants, and your insurance and maintenance outlays. Save about one to three percent of the value of your rental property for upkeep each year. The goal, of course, is finding a property where the rent exceeds your costs, but you'll still need a plan for carrying the expenses yourself in the event of a vacancy.


Inspect the property. If you're the DIY type, then by all means, consider a fixer-upper. Otherwise, look for a newer or recently renovated property that won't take too much effort to maintain. A home inspector can help identify structural or safety issues and may help you assess the condition of related factors too -- for instance, when the condo unit is in great shape, but the building roof needs repair. A detailed inspection can save you an extra outlay of cash down the road.