The market in Del Mar is one of the most competitive in San Diego County. But why is it so attractive, and what should a buyer or even a seller look out for?
With a population of just over 4,000, Del Mar offers an “urban-suburban” mix feel with some fantastic characteristics. As a small coastal town, there is a wide variety of beach activities throughout the year. It is ranked #3 in California for its highly rated schools. Del Mar is also home to the Del Mar Racetrack, attracting thousands of local and foreign tourists every year. And it’s restaurants and coffee shops are to die for!
But there is also a downside. The possibility of floods and other disasters caused by unpredictable coastal climate presents a continuously under observation challenge. As a possible buyer, you might consider how this may increase your insurance. Since insurance is based on risk, it is more likely that flood damage may occur, making insurance companies charge higher premiums to compensate for them.
Transportation infrastructure is also under threat, which has led SANDAG to conduct a $3 million study on relocating the rail line farther inland through the city to avoid the constant corrosion and maintenance on the rails. The city has been working on a climate change adaptation plan, but it doesn’t have any managed retreat strategy yet.
Del Mar presents many essential challenges to know about when deciding to buy or sell your home. As your agent, I will make sure we review all of this information so that you can make the best decision for you and your family.
As a buyer, when going into a competitive market like Del Mar, recall some of the tips for homebuyers! Get pre-approved for a home, work with a trusted agent, make a strong offer, and make sure the neighborhood itself feels right to you.
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