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Solana Beach Real Estate
Solana Beach homes and Solana Beach Condos, by design...express style and distinction as it focuses on re-development and improvements, mixing the old with the new. More than 70% of Solana Beach was built in the last 20 years. Over 6,300 homes, the majority of which are single-family, grace the slopes of Solana Beach, many having exquisite ocean, mountain or greenbelt views. Large custom-built estates, quaint beach cottages and gated condominiums cover the oceanfront, most with direct beach access. The older neighborhoods begin East of the bluff with lots averaging 1/3 acre, many with spectacular ocean views. The most Eastern areas, adjacent to Del Mar and Rancho Santa Fe, are newer and many feature estate-sized lots. Prices for condominiums range from the high $450,000s to over $2 million, while single-family homes start in the $900,000 up to 3 million+. Most residents have lived in Solana Beach a long time, so there is a low turnover rate. Only a few new homes are built each year, while there is some remodeling and a few re-developments. With little land left for new construction, Solana Beach represents a superior place to live and invest in real estate.
Solana Beach General Facts
A quiet upscale community comprising four square miles and running along two miles of coastline, the city of Solana Beach is bordered on the South by Del Mar, East by Rancho Santa Fe and North by Cardiff. Incorporated in 1986, the city has a population of roughly 14,000 and is easily accessible from local Highway 101 and Interstate Highway 5. An eclectic assortment of offices, retail shops and restaurants line the coastal highway; antique shops, art galleries and boutiques fill South Cedros Ave.; while offices, restaurants and retail chains are strung along Lomas Santa Fe Drive, the main thoroughfare. Solana (Spanish for sunny) Beach boasts a mild year-round climate averaging 77o in summer and 62o in winter, with an average annual rainfall of 10 inches.
Solana Beach History
The area that is now Solana Beach began to develop in 1917 when Lake Hodges Dam was built. Launching the 12,000-acre Santa Fe Irrigation District in 1918 assured that the area from Rancho Santa Fe through Solana Beach would flourish and grow. In 1923 Colonel Ed Fletcher bought 140 acres of land with the help of the Santa Fe Railroad to develop what is now Solana Beach. The initial subdivision map of the town was filed on March 5, 1923 and featured the central plaza next to the ocean, which is still a central point of the community today. Except for the first years of the Great Depression, Solana Beach grew steadily. The post office was opened in 1923, a lifeguard service at the beach started in 1941, fire protection was established in 1949 and the first sewers were installed in 1950. In 1957, the California Department of Highways moved the interstate highway East to intersect Solana Beach.
Solana Beach Demographics
Solana Beach residents run the gamut from surfers and golfers to professionals and artists with a median household income of approximately $65,000 per year. A mix of old (coastal) and new (inland), the city hosts four beach parks, two community centers, two golf courses and its own community theater. Just 21 miles North of San Diego's international airport, Solana Beach is conveniently located for easy access to San Diego’s cultural and entertainment opportunities, such as the San Diego Zoo, Sea World and Seaport Village. Los Angeles is within two hours, as are the ski resorts of the San Bernardino Mountains. For those who prefer public transportation, the North County Transit System's inter-city bus service, as well as the Amtrak and Coaster commuter train, provide service to Solana Beach. Local children are afforded excellent educational opportunities through Solana Beach School District (with five elementary schools) for grades K-6 and San Dieguito Union High School District (one middle and one high school) for grades 7-12. In addition, several private and parochial schools such as Santa Fe Christian School are available.
Solana Beach Points of Interest and Events
City Hall located on Old Highway 101 also hosts an art gallery with new exhibits each month. It’s open to the public during business hours, and special receptions to meet the artist occur often. Recreational programs and activities are offered for all ages through the Boys & Girls Club and the two community centers: La Colonia Community Center and Fletcher Cove Community Center. After school enrichment program and summer camps for children are offered through the Community Services Department, and adult classes are available through the San Dieguito Adult Education Program. Annual holiday and special events include the Spring Egg Hunt, Fiesta del Sol and the Festival of Lights. Solana Beach offers well-supervised beaches for swimming and surfing at Fletcher Cove, with a fully staffed lifeguard station, restrooms and half-court basketball. Private golf and tennis facilities, as well as swimming and special events are available at Lomas Santa Fe Country Club, and the public is welcome at the Lomas Santa Fe Executive Golf Course. The Belly Up Tavern is a fixture on Cedros Ave. and is a well-known nightspot for live music and dancing throughout Southern California. The North Coast Repertory Theatre has also served locals and visitors for years, with exciting, top-notch live performances by local actors. The Amtrak Coaster rail station provides local as well as long-distance transportation options, and the Chamber's Visitor Information Center is conveniently located next to the train station. Each Sunday a local farmer's market is held in the parking lot at the corner of N. Cedros and Lomas Santa Fe Dr. The 100-acre San Dieguito Park on the Eastern edge of the city, offers baseball fields, picnic areas and hiking trails. Along the Northern border of Solana Beach is the San Elijo Lagoon and Nature Reserve where egrets, herons and other migratory birds can be viewed. The world-famous Del Mar Race Track and Fairgrounds borders the Southern tip of the city and features year round special events.
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Tax Considerations >Taxable Profits
If you are thinking of selling your home and your house has risen in value since you purchased it, or you have accumulated a lot of deferred profit from previous sales, the Taxpayer Relief Act passed in 1997 could be of tremendous value.
Prior to this law, when a homeowner moved to a smaller home, relocated to a less costly area, or made a decision to rent, they were left with unfavorable tax consequences. The old tax law allowed people who sold their homes to defer tax on any profit by buying a replacement home of at least equal value within two years. At age 55, they could permanently escape tax on up to $125,000 of profit, but any profit in excess of that amount was taxable unless a new home was bought.
The good news is that with homes sold after May 6, 1997, homeowners can make as much as $500,000 tax-free profits on the sale of a principal residence for joint filers or $250,000 for single filers. The $500,000 capital gains exclusion removed taxes as a consideration for most home sellers by giving them flexibility to trade up or down. It has also allowed homeowners to preserve the savings value of a home when they sell, provided they use the property as their principal residence for two of the prior five years prior to the sale.
Consult your tax advisor for your particular circumstance.
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| Q |
What acclaimed house built of stone, concrete, and glass is built over a waterfall?
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| A |
Fallingwater in Mill Run, PA, built by architect Frank Lloyd Wright, is one of the most-visited homes in the U.S.
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