The national media continues to do a dis-service to the perspective home buyers of San Diego County. There is only one rule that applies universally to real estate values … LOCATION, LOCATION, LOCATION!

This past week we have seen headlines scream at us that the sky is falling and the world is coming to an end. The National Association of Realtors announced that sales of existing homes plummeted nationally 27.2% in July. Buried deep in that press release the San Diego Association of Realtors reported existing home sales were down 13% in San Diego County.

Yes, 13% is a large drop, but in a County where the Federal Tax Credit for buying a home ended in May and the State Tax Credit for buying your first home ended in June, a drop of 13% was not unexpected. The fact is many home buyers accelerated their purchases this year to take advantage of those tax credit offerings!

Another national press release announced that the average price for the sale of an existing home was up 0.7% over the last 12 months. Claiming that the momentum from earlier this year was dead and that home prices had topped out.

Again, buried in that press release, RealtyTrac said San Diego County experienced a 4.6% increase in home prices during the past year. While fewer people may be buying homes (see discussion above regarding the tax credit incentive), they are paying more for their homes. And, those homes are increasing in value better than the rate of inflation or the rate on your savings account from any bank today!

And, finally, another national press release did highlight some positive news. This press release found that the home loan failure rate (including default notices, scheduled auctions and bank repossessions) had decreased by 10%. While the press release did not editorialize the benefits of this drop in the home loan failure rate, it did acknowledge that the reduction was a good sign.

Again, buried in the back of this press release, the numbers for San Diego County were a bit more improved. Home loan failure rates in San Diego County were found to be down 37% from July of 2009! That is an amazing factor and shows a very strong move by the home loan holders in San Diego County back towards stability and confidence in their home ownership financially.

So, let’s review the only rule that truly applies to real estate investment anywhere in the world … LOCATION, LOCATION, LOCATION! Can you guess where the smart buyers are putting their money in real estate today? Do you think it is on a national basis or right here, in San Diego County?

Well, you are right, But, I also would guess that you would not have come to that conclusion if you only read the headlines. Dig deeper, be a smart consumer!

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“There’s much to celebrate right now at Cordova,” said Lora Heramb, vice president of sales and marketing for Brookfield Homes. “The neighborhood’s private recreation center is complete, including pool and spa, and buyers may take advantage of numerous incentives, including the California state new home tax credit, low interest rates, new phase pricing and builder incentives.”

According to Brookfield Homes, the attached home neighborhood offers homes with prices reduced as much as $12,000 for homes scheduled for completion in October. In addition, the builder is offering a $10,000 credit that may be used toward closing costs and/or upgrades. These specials may be used in addition to the California tax credit now available.

Cordova offers six townhome floor plans. The two-story homes have three or four bedrooms, 2.5 or three baths and a feature that is unique to most new attached homes, side-by-side two-car garages with direct access into each townhome. Some homes offer yards. For more information about Cordova at Windingwalk in Chula Vista, call 866-780-2303.
Windingwalk residents have two private recreation centers available. WindingOaks Recreation Center offers upscale amenities such as a resort-style play pool, a Junior Olympic lap swimming pool, a spa and locker rooms with restrooms and showers. WindingOaks also offers a fully equipped gym, conference/meeting room, grassy play areas, a covered outdoor pavilion with exterior fireplace and barbecue, and a wedding garden featuring a wide lawn and covered gazebo.

Also open exclusively to Windingwalk residents and their guests is the WindingTrails Recreation Center featuring a competitive-sized swimming pool, wading pool, spa, basketball courts, children’s play equipment, picnic pavilions, and a wide-open lawn area. A spacious courtyard with fireplace, multi-purpose entertainment room and large gourmet catering kitchen are ideally suited for special gatherings.

The master-planned community of Windingwalk features numerous outstanding community amenities. Among the newest highlights is the Marketplace, a 9-acre retail center featuring a Vons grocery store, In N Out Burger, Oggi’s Pizza, Achieote Mexican restaurant, Wells Fargo, Bank of America, Happy Nails Salon, Kelleher Cleaners, Keddington Optometry, and more. The mixed-use center is also planned to include 43 work-loft spaces on the second story.

When completed, the master-planned community of Windingwalk will include approximately 2,300 residences, community facilities, a public park, retail elements, office space, and elementary, junior high and high schools.

Just west of Windingwalk is the Otay Ranch Town Center, with popular retail stores, many dining options and entertainment, including the AMC Otay Ranch 12 movie theaters.

Brookfield San Diego Builders, Inc. builds homes throughout San Diego and Riverside counties. Brookfield currently is building in the master-planned communities of The Foothills in Carlsbad, Windingwalk in Chula Vista, The Estates at StoneBridge east of Scripps Ranch in San Diego and Old Creek Ranch in San Marcos.  For more information about Brookfield communities and to learn about the company’s signature construction differences, visit www.brookfieldsd.com.

The original structure built in the 1960s was re-designed by domusstudio architecture to integrate with the church’s recently completed Lilian Rice-style sanctuary.  The Kids Village incorporates new energy-efficient windows and lighting and mechanical systems, while reinforcing a fun learning environment. Bright colors blend with more traditional building materials found in the Spanish-style architecture.

“The new Kids Village is an efficient use of our church resources designed to address the Christian education needs of our church, especially Sunday school classes,” said the Rev. Dr. Jack Baca, Senior Pastor. “An old building has been transformed into a fun, welcoming space.”

Built by ROEL Construction Company, the $675,000 remodel has five classrooms, plus a workroom and a new nursery, serving as the church’s Sunday school for nursery through grade-school children. The toddler room includes a child’s-height entrance door and a low round view window that make the arrival and departure of children fun and memorable.

“The old building was totally gutted to the studs, then we added insulation, new windows, a new roof and new walls that better reconfigure the space to meet the church’s needs,” said domusstudio architecture Associate David Keitel. “For example, the nursery room is much closer to the sanctuary now. This makes it easier for parents dropping off children before services and psychologically keeps them close.”

The new education building represents another phase of the master plan by domusstudio architecture. A place of worship for over 50 years, The Village Community Presbyterian Church began reconstruction in September 2008 when demolition crews arrived. The two-story, 25,420-square-foot main sanctuary and administration building was completed in early April.

The church also added a new roof to The Village Nursery School and a new playground for children ages 5 to 12.

A longtime pillar in the Rancho Santa Fe area, the Village Community Presbyterian Church was founded in 1956 and currently has more than 1,200 members in its congregation.  Recognized for its adult and youth ministries and music programs, the church also has a state licensed preschool program for children ages 2 to 5 years.

Founded in 1986 as Dominy + Associates Architects, the award winning domusstudio architecture specializes in religious facilities, fire stations, libraries, educational buildings, senior housing and custom residential projects.  The studio strives to enhance the lives of people through architecture, interiors, planning and service. For more information, visit www.domusstudio.com.

“We enjoy the trails every day,” said Jenn Fieldhack, a resident of Del Sur since 2007. She and her husband, Jeff, like to hike with their dog, Butkus. Jeff is a former pro tennis player whose hobby is participating in Iron Man competitions.

“We love to get out and explore new trails,” Jenn continued.” “It’s so beautiful, so nicely preserved. We often see owls and hawks and coyotes. Butkus loves it.”

Located within hiking distance of Black Mountain, Del Sur (www.DelSurLiving.com) and its numerous amenities are well suited to residents’ active lifestyles. In addition to 1,000 acres of preserved open space and some 18 miles of trails shared with its sister community, Santaluz, Del Sur has four neighborhood parks completed and four more planned.

Old Stonefield Park, now under construction at Del Sur, will offer new trail access to residents. The park will have an enclosed children’s play area with swings and is scheduled to open in the first quarter of 2011. Kristen Glen Park is also under construction and will feature a solar-heated lap pool, hot tub and stone and grass labyrinth.

“Del Sur’s parks, open space and trails are consistently referenced by homeowners as among the top reasons they love living here,” said Bill Ostrem, president and CEO of Black Mountain Ranch LLC, developer of the Del Sur. The smart-growth master-planned community is just north of SR56 in the city of San Diego.

Four new communities are now selling at Del Sur including two neighborhoods by Shea Homes San Diego, one from Standard Pacific Homes and one from William Lyon Homes. Twelve model homes are available for viewing.  For more information, visit www.DelSurLiving.com.

Del Sur has a strong environmental ethic, which is evident throughout its residential neighborhoods, within its construction practices and in its recreational amenities, including18 miles of hiking trails spread out over 1,800 acres of dedicated open space. Recognized by local civic, planning and environmental groups for its environmentally conscious design and “smart growth” principles, the pedestrian-friendly community of Del Sur eventually will have 2,500 homes.

Three homes sold at Maderia at Del Sur by Shea Homes, three homes sold at Pasado at Del Sur by William Lyon Homes, and one home sold at Bridgewalk at Del Sur by Standard Pacific Homes. To date this year, 99 homes have sold at the community celebrating sustainability and green building practices.

“Construction activity is increasing to meet demand created by sales at Del Sur,” said Bill Ostrem, president and CEO of Black Mountain Ranch LLC, developer of Del Sur (www.DelSurLiving.com). “We look forward to meeting new neighbors as the community continues to grow.”

Since opening in 2006, Del Sur has sold approximately 600 homes spanning the spectrum from entry-level attached homes to large-lot single-family detached residences.  Located within the highly regarded Poway school system, Del Sur residents enjoy convenient access to the new Del Sur Elementary and Del Norte High schools.

New home neighborhoods now selling at Del Sur include:

•  Madeira by Shea Homes San Diego offers single-family homes from the low $500,000s. The five floor plans have three to five bedrooms, 2.5 to 3.5 baths and two car garages. Madeira homes span approximately 1,779 to 2,415 square feet.

•  Bridgewalk by Standard Pacific Homes offers single-family detached homes from approximately 1,702 to 1,969 square feet. The two-story residences have three to four bedrooms, 2.5 baths and two-car garage plus work space. Prices range from the high $400,000s.

•  Pasado by William Lyon Homes offers single-family detached homes priced from the low $500,000s. Spanning approximately 2,047 to 2,360 square feet, the two-story floor plans have three to four bedrooms, 2.5 to three baths and two-car garages.

More than a dozen model homes are open for tours.  For more information, visit www.DelSurLiving.com.

Del Sur has a strong environmental ethic, which is evident throughout its residential neighborhoods, within its construction practices and in its recreational amenities, including18 miles of hiking trails spread out over 1,800 acres of dedicated open space. Recognized by local civic, planning and environmental groups for its environmentally conscious design and “smart growth” principles, the pedestrian-friendly community of Del Sur eventually will have 2,500 homes.

For additional information, visit the Del Sur Ranch House, 15455 Paseo Del Sur, in San Diego. The Ranch House is open from noon to 4 p.m. Sunday through Friday and 10 a.m. to 4 p.m. Saturday. Information also is available by calling 858-48194200 or visiting www.DelSurLiving.com.

Funded by Proposition 1C, the program incentivizes innovative land use planning and green building strategies and awards $1.35 million to the City of San Diego to advance the work in The Village. The Village was selected with twelve other projects throughout the state.

“This project is a perfect example of using thoughtful planning to create places where people can live and thrive in a way that also protects the environment,” said San Diego Mayor Jerry Sanders.

Under the HCD’s Catalyst Projects for California Sustainable Strategies Pilot Program, the “Catalyst Project” designation encourages sustainable communities and tests innovative strategies to increase affordable housing supply, employment opportunities and transportation choices that reflect community values, preserve and expand open space and parkland, conserve water and habitat, and achieve targets for reduction of greenhouse gas emissions. Catalyst Projects also display commitment to federal planning priorities of the Department of Transportation, Housing and Urban Development, and the Environmental Protection Agency’s Partnership for Sustainable Communities.

One of the country’s most innovative neighborhood revitalization projects, The Village at Market Creek is the resident-led, driven, and owned development project in the Diamond Neighborhoods of southeastern San Diego.  When complete, The Village will transform approximately 60 acres of blighted, under-utilized properties into a vibrant, livable community that is projected to create more than 1,000 jobs, 1,000 quality affordable housing units, 645,000 sq. ft. of new commercial space, and at least 400,000 sq. ft. of green open space and parks.  The Village, which is being designed to meet the highest standards for energy efficiency, will include enhanced pedestrian trails along restored segments of Chollas Creek and enhanced walkability throughout the neighborhood.  This integrated network of residential, commercial and cultural projects is being built on the unified, multicultural strength of the surrounding neighborhoods towards the creation of a true cultural village.

Plans for The Village were developed through a partnership between community residents, local and national funding partners, and the Jacobs Center for Neighborhood Innovation, a non-profit neighborhood strengthening organization which is committed to resident ownership of the planning, process, and assets of community change.  To date, this partnership has produced a vibrant retail and cultural hub, called Market Creek Plaza, and the Joe & Vi Jacobs Center, a community gathering place; expanded the Elementary Institute of Science, an educational resource for local youth; renovated the BRYCO Business Park; and restored 3,000 linear feet of Chollas Creek wetlands.

“Receiving the prestigious Catalyst Project designation provides a huge boost in our work to bring quality, affordable homes into The Village to meet the needs of this community,” said Jennifer Vanica, President & CEO of the Jacobs Center for Neighborhood Innovation.  “What makes our project different—and truly sustainable—is that the work is being planned, implemented and owned by residents who are revitalizing their neighborhood.  We are thrilled that the State has recognized the incredible work residents have undertaken and are supporting their vision for this community.”

The Catalyst Projects for California Sustainable Strategies Pilot Program is a partnership between HCD, Caltrans, the California Department of Conservation, the Governor’s Office of Planning and Research, the California Air Resources Board, the California Housing Finance Agency, the California Infrastructure Bank, the California Energy Commission, the California Department of Public Health, the California Environmental Protection Agency, the California Department of Forestry and Fire Projection, and the California Department of Parks and Recreation.

“When State departments work together, California is a leader in sustainability strategies,” said HCD Director Lynn Jacobs.

To learn more about The Village at Market Creek, visit www.thevillageatmarketcreek.com.

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The Jacobs Center for Neighborhood Innovation is a non-profit foundation that operates on the premise that residents must own and drive the change that takes place in their community for it to be meaningful and long-lasting. JCNI explores new pathways to change through entrepreneurial relationships, hands-on training, and the creative investment of resources.

A nationally known problem resolution firm specializing in distressed real estate and court-appointed receiverships, DWC (www.douglaswilson.com) is charged to preserve and protect the property and oversee the disposition of the land.

“This is a landmark location, in the heart of Malibu on Pacific Coast Highway, fewer than 300 feet from the ocean,” said Douglas Wilson, CEO of Douglas Wilson Companies.

Based in San Diego, Calif., Douglas Wilson Companies operates six offices around the United States, including Washington, D.C., Las Vegas, Miami, Orlando and San Francisco. To date, the company has provided problem resolution for more than 600 projects involving assets valued in excess of $12 billion.

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ABOUT DOUGLAS WILSON COMPANIES

Founded in 1989, Douglas Wilson Companies is one of the largest firms of its kind, providing a wide range of specialized business and real estate services to law firms, state and federal courts, corporations, partnerships, pension funds, REITS, financial institutions and property owners nationwide. Services include workout and problem resolution, forensic accounting and litigation support, joint venture investments and development, small business support, brokerage, asset management, crisis/force majeure response, entitlement and construction

St Rose Of Lima Education Courtyard

The Bishop’s 6 p.m. blessing will follow the 5 p.m. Saturday vigil Mass at St. Rose of Lima, located at H Street and Third Avenue in Chula Vista’s Third Avenue Village. Tours will be given during the day on Sunday, Aug. 29, when the parish also plans a dinner for parishioners in the courtyard of the new building to celebrate the annual Feast Day of Saint Rose of Lima.

Completed in time for school to start Sept. 7, the nearly 24,000-square-foot De Flores Center is one of the first phases in the church’s master plan. The education building will house school and religious education programs and is designed to be an efficient response to the parameters of the property, parish requirements and the urban location.

“The Education Center has been an amazing project,” said David Pfeifer, AIA, principal at domusstudio architecture, a 24-year-old San Diego firm specializing in liturgical and religious structures in Southern California. St. Rose of Lima is among its 40 or so active church clients.

“It’s incredible how much building we could fit onto the tight footprint of this site,” Pfeifer continued. “By pushing the building to the perimeter of the property, we have created a more efficient use of space for a very popular church.  We have created safe, quiet places for gathering that were severely lacking on the campus before the project had begun.”

Jim Fisher, Construction Manager for Erickson-Hall, said: “Construction of a building within three inches of the lot lines at a busy downtown location with equally busy school and Parish activity has been a challenge. The whole construction team has worked very hard to make it all come together, and the City of Chula Vista has been a very helpful partner in the process.”

Located on fewer than four acres in the heart of downtown Chula Vista, St. Rose of Lima has nearly 6,000 registered parish families, one of the largest parishes in the Roman Catholic Diocese of San Diego. The new education center building has 10 classrooms, two additional preschool classrooms, an enlarged science classroom, computer classroom, and library. Teacher support areas are located adjacent to each classroom for ease of resource material preparation.

According to Deacon Greg Smyth, the construction coordinator for the parish: “After many years of planning, we are very pleased with the final product.  Our new education center could never have been built without the team effort that was forged by Erickson-Hall, domusstudio, and our parish leadership.  This team approach spilled over to the many subcontractors working on the job and resulted in a first-class outcome.  In particular, Bruce Swanson of Erickson-Hall and David Pfeifer of domusstudio were key players in making it all come together.”

The building accommodates kindergarten through eighth-grade parish school functions as well as continuing parish religious education programs for all age groups including adults.

“It was very important to the church that we design the education center not just for schoolchildren, but also for ongoing religious education,” Pfeifer said.

To more efficiently serve a dual purpose, Pfeifer designed custom cabinetry in each of the classrooms. Through the collaborate teamwork of domusstudio, Erickson-Hall, Troxell and Mission Valley Cabinets, the result was custom casework “teaching walls.” The teaching walls include fully electronic Starboards with built in projectors as well as sliding white boards with ample storage behind to provide a unique and functional teaching environment.  These innovative “teaching walls” are an example of the approach domusstudio architecture brings to its clients.

“We listened to what the leadership of St. Rose said they wanted – an efficient use of space for church and school, resource rooms for teachers, the newest technologies in education – and we created and built a building to meet those needs.” Pfeifer said.

The building reveals additional architectural innovations as well. For example, all the ground-floor windows of the school are placed higher than standard, so that students and teachers have the benefit of daylight but are not visible to passers-by on the street. The building itself is two to five feet higher than the sidewalk for additional privacy.

With the walls of the education center as few as three inches from the sidewalk, domusstudio architecture’s Pfeifer said privacy and noise control were primary concerns.

“We designed an attractive street edge, according to the City of Chula Vista’s downtown urban design guidelines, and we also made sure the school building was safe, secure and private,” Pfeifer explained. “The walls are insulated, with sound deadening and resilient channels, and all the street-level windows are tinted, laminated and dual-glazed.”

The education center is the first of three phases in St. Rose of Lima’s master plan. Located at the northwest corner of the property, the building’s large entry courtyard eventually will also provide access to a new two-story parish hall. The final phase at St. Rose of Lima will bring a new 1,500-seat church building.

“The vision of the master plan is to create a vital, service-oriented church campus in a downtown environment,” said Pfeifer. “And every step of the way will be implemented without interfering with any existing church or school function.”

In addition to the architecture and planning services by domusstudio architecture, Erickson-Hall Construction Co. provided design assistance and construction services. The Escondido-based company’s safety record and extensive experience with school projects was critical to the challenge of building in the midst of ongoing church and school activity.

Martin & Libby Structural Engineers, T*Squared Mechanical, Electrical Engineers, Rick Engineering and DPA Landscape Architects also contributed services to the project. St. Rose parishioners provided discounted materials and services for the project’s structural steel, stone veneer, masonry, pavers and stucco.

Founded in 1986 as Dominy + Associates Architects, domusstudio architecture strives to enhance the lives of people through architecture, interiors, planning and service. The 24-year-old award-winning architectural design firm specializing in religious facilities, fire stations, educational buildings, senior housing and custom residential projects. For more information about its projects and services, call 619-692-9393 or visit www.domusstudio.com.

Erickson-Hall Construction Co. committed to building safe and healthy communities since 1998 specializes in religious facilities, educational buildings and fire stations, For more information about its projects and services, call 760-796-7700 or visit www.ericksonhall.com.

“Demand continues to be strong at Madeira at Del Sur,” said Vanessa Linn, vice president of sales and marketing for Shea Homes. “Of the 36 homes released so far this year, 32 are sold. Homebuyers are responding to the outstanding Del Sur community amenities, the innovative Maderia floor plans and the opportunity to customize their new home. Favorable market conditions, including low interest rates, also play a part in the success of the neighborhood.”

Select homesites in the new phase overlook one of Del Sur’s many neighborhood parks, which is now under construction. Kristen Glen Park will include a lap pool and hot tub, as well as a grass and stone labyrinth.

The seven homes released for sale are in Phase 4B and 5A of the single-family home neighborhood and are priced from the mid $500,000s. Move-ins are anticipated in spring. Call 858-832-1309 for more information.

Spanning approximately 1,779 to 2,415 square feet, Madeira at Del Sur’s six floor plans have two and three stories, three to five bedrooms, 2.5 to 3.5 bathrooms and two-car garages. The homes are enhanced for outdoor living and entertaining by spacious courtyards or patios. The floor plans feature great rooms adjacent to gourmet island kitchens and family-sized dining rooms. Select Madeira homes will incorporate roof-integrated solar electric panels. Blending seamlessly with the roof tiles, and adding value and functionality, the solar panels reduce energy expenses.

Del Sur has a strong environmental ethic, which is evident throughout its residential neighborhoods, within its construction practices and in its recreational amenities, including eight proposed private parks and 18 miles of hiking trails spread out over 1,800 acres of dedicated open space.  All of the parks are designed to be energy efficient, with solar-heated pools, and attractive landscaping featuring drought-resistant plantings that use only reclaimed water.  Cost savings from these conservation efforts are passed along to residents. The pedestrian-friendly community of Del Sur will have an eventual 2,500 homes.

Shea Homes (http://www.SheaHomes.com) offers new homes ranging from affordably priced condominiums and townhomes to traditional single-family detached homes and magnificent luxury residences.

About Shea Homes

Shea Homes, an independent member of the Shea family of companies, is among San Diego County’s biggest homebuilders. The Shea family of companies is investing in the future of children and communities across America by sponsoring a multi-faceted literacy awareness program that urges parents to “Read With Your Child 15 Minutes a Day.” For more information, please visit the company’s website at http://www.SheaHomes.com.

Shea Homes San Diego is located at 9990 Mesa Rim Road in San Diego. To contact Shea Homes, please call 858-526-6500.

“With an extensive list of incentives and upgrades offered at Serenity, and with two additional homes recently sold, the opportunity to purchase a home in this neighborhood is flying by,” said Lora Heramb, vice president of sales and marketing for Brookfield Homes. “People are realizing these deals won’t last much longer.”

With pool-sized homesites averaging 12,000 to 20,000 square feet, and with a prime setting in the Poway top-ranked school district, Serenity offers the luxury of space, privacy, and location.

Serenity’s spacious executive-style residences feature three distinct two-story floor plans ranging from 4,040 to 4,759 square feet with five or six bedrooms and 4.5 baths, and up to 4 car spaces in the garage.  Prices range from $899,000.

Homes at Serenity offer a wide range of choices, such as an office, private retreat, morning room, bonus room, six-foot soaking tubs and ladies’ vanity.  Outdoor courtyards are included in the Plan 1 and 3 homes. Optional wine storage space, and a downstairs living suite are among the options available on some plans.

To contact the Serenity sales office, call 888-572-5861 or visit www.brookfieldsd.com.

Located just east of Scripps Ranch in San Diego, The Estates at StoneBridge is highlighted by gracious neighborhoods and the wide-open spaces of neighboring Mission Trails Regional Park. The semi-rural environment is complemented by proximity to all the necessary day-to-day conveniences, as well as arts, culture, recreation and the numerous other aspects of a well-balanced and efficient life.

The Estates at StoneBridge includes a large neighborhood park, which has ball fields, play equipment, picnic tables and a restroom facility. Another neighborhood park is planned. The community also features an extensive network of trails and a community gathering area.

Brookfield San Diego Builders, Inc. builds homes throughout San Diego and Riverside counties. Brookfield currently is building in the master-planned communities of The Foothills in Carlsbad, Windingwalk in Chula Vista, The Estates at StoneBridge east of Scripps Ranch in San Diego, Old Creek Ranch in San Marcos and Morningstar Ranch in Winchester.  For more information about Brookfield communities and to learn about the company’s signature construction differences, visit www.brookfieldsd.com.