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Our first office, in North County San Diego, is located in the heart of  Solana Beach's vibrant Design District.  With dozens of boutique shops, restaurants and even the world famous “Belly Up Bar” showcasing marque bands and solo acts from the US and around the world, it is a magnet, day and night, for locals and visitors alike. With great schools, a population of only 13,154, some of the finest beaches and weather in Southern California and easy access to downtown San Diego and Orange County, it is ideally located for anyone interested in the Southern California life style. 

 

Solana Beach is bound by the Pacific Ocean to the West, the Del Mar track and event center to the South, Rancho Santa Fe to the East and the urban beach town of Encinitas to the North.  Solana Beach offers, bluff top condominiums, golf course town homes, beach cottages and both contemporary and traditional homes with wonderful ocean and canyon views.  Solana Beach is home to professionals and people in San Diego's burgeoning bio-tech and medical industries as well as second home owners and empty nestors from the U.S and around the world.

Our advisors have deep local knowledge and experience in all of the communities located in North County San Diego from coastal Del Mar to Carlsbad and Oceanside and inland to Olivenhein and Rancho Santa Fe. Some of our advisors also specialize in investment properties in the greater San Diego area for discerning real estate buyers and sellers.  Each of our real estate advisors offer premium services and innovative thinking. In addition, because Engel & Völkers is a truly international firm with a global reach encompassing over 600 offices world wide, our clients are positioned to benefit from the current international real estate market where a potential buyer could be from our local market or a  neighborhood half a world away.  

 

We invite you to experience the higher standards we have developed to market our properties, our brand and ourselves with competence, exclusivity and passion.

 

Coming soon our new offices in Encintas, Carlsbad and Rancho Santa Fe.

 

Engel & Völkers Expands U.S. Presence with Addition of San Diego Brokerage

 

Evergreen Realty San Diego joins the luxury real estate brand’s global network as Engel & Völkers San Diego Ranch-Coast, bringing enhanced services and global exposure to the Southern California market

 

New York, NY (March 25, 2014) – Engel & Völkers, the leading international luxury real estate brand, today announced that Evergreen Realty in Solana Beach, California, is the newest addition to its North American network and will provide its global standard of high-end real estate service in the market as Engel & Völkers San Diego Ranch-Coast.  

 

Michael Hannon and Quentin Smith are the owners of Engel & Völkers San Diego Ranch-Coast. The new shop serves home sellers and buyers throughout North County San Diego, including the towns of Del Mar, Solana Beach, Rancho Santa Fe, Encinitas and Carlsbad.

 

“With Engel & Völkers San Diego Ranch-Coast, we are well positioned to serve clients in the area as well as the growing number of second home owners coming from throughout the U.S., Canada and Mexico,” said Anthony Hitt, chief executive officer of Engel & Völkers North America.

 

Executive vice president of Engel & Völkers North America, Tom Kunz, adds, “Michael and Quentin and their team represent well over 100 years of real estate industry experience. Their professionalism and high standards of service quality make them the ideal representatives of our brand in this market.”

 

Engel & Völkers San Diego Ranch-Coast will operate from its Solana Beach office location with plans to open future Engel & Völkers shops in Encinitas, Carlsbad and Rancho Santa Fe. Solana Beach and its neighboring communities in particular are enjoying a real estate renaissance due to the wide selection of beachfront, golf course and hillside homes and condominiums. With desirable neighborhoods, schools, easy access to downtown San Diego and Orange County and some of the most sought after beaches and weather in the world, they are ideally located for local, national and international buyers.

 

“We are extremely proud to be part of the Engel & Völkers brand because of their commitment to quality and their international prestige,” said Smith. “The marketing tools and technology platform, as well as the distinctive culture and luxury lifestyle that they offer is unlike anything we have seen in this market.”

 

This announcement from Engel & Völkers comes one month following the opening of its Engel & Völkers Las Vegas brokerage as the brand continues its expansion efforts throughout the U.S. and Canada. 

 

USA TODAY  - April 12, 2014

International homebuyers are attracted to the United States for a number of reasons. These include favorable housing prices, good weather, the country's relative economic stability and an attraction to America in general. As the housing market improved and home prices rebounded, the interest of foreign buyers in U.S. properties has soared.

Interest in U.S. property increased dramatically in a number of countries between 2009 and 2013. In all, interest in home buying, according to housing market firm RealtyTrac, increased by 95% or more in 10 countries, and at least doubled in nine of these nations. Interest in U.S. property by residents of the United Arab Emirates rose 352%, the most out of any country. Based on subscription data provided by RealtyTrac, these are the 10 countries where interest in buying American homes is on the rise.

Overseas buyers likely see value in the U.S. housing market. In an interview with 24/7 Wall St., Daren Blomquist, vice president of RealtyTrac, said, "The U.S. real estate market is coming off of a rough patch and entering recovery mode. And so international buyers see it as a great time to jump in and catch the U.S. market on the upswing." According to the Case-Shiller 20-City Composite Home Price Index, the U.S. housing market is just beginning to rebound from its lows set in March 2012.

While tepid growth may dissuade some potential homebuyers, these countries have many exceptionally wealthy residents. Three of these countries — Germany, the United Kingdom and China — each had more than 10,000 ultra high net worth residents last year and were in the top five countries globally in that measure. China's total number of ultra high net worth residents is even greater if the 3,180 ultra wealthy residents of Hong Kong are included.

Another key factor that drives many prospective homebuyers to consider the United States is common language. English-speaking countries accounted for 68% of international residents looking for homes in the U.S. Much of this interest came from U.S. neighbor Canada, which alone accounted for 45% of all international interest. The United Kingdom and Australia also each accounted for more than 10% of all interest, ranking second and third among all countries, respectively.

However, language does not explain the increased interest from countries such as the UAE and China, Blomquist noted. Additionally, much of the growth in foreign interest has come from European nations, including Switzerland and France. Six of the countries with the largest percentage increases in property seekers are located in Europe.

Another likely important factor in driving international interest in U.S. homeownership may be America's reputation as a relative safe haven for investors. For many buyers, Blomquist noted, the U.S. represents "the most stable country out there."

Concerns about the financial systems in Italy and China may contribute to demand for U.S. homes from those countries as well. Worries in China, Sweden, Canada, Switzerland and the U.K. about the local housing market may also be driving U.S. investment.

To determine the 10 countries where the interest in buying American homes is on the rise, 24/7 Wall St. reviewed subscriber data from RealtyTrac. We also reviewed figures on real (inflation-adjusted) GDP growth, population and other macroeconomic factors from the International Monetary Fund's (IMF) World Economic Outlook. Figures on the number of ultra high net worth individuals, defined as people worth $25 million or more, are from Wealth-X.

These are the countries racing to buy American homes.

10. Germany

> Growth in prospective homebuyers: 95.2%
> Share of int'l prospective buyers: 2.6% (7th highest)
> GDP per capita: $39,468 (18th highest)
> Ultra high net worth population: 17,820 (2nd highest)

Germans accounted for 2.6% of all of RealtyTrac's international homebuyers looking for U.S. property between 2009 and 2013. During that time, home searches rose by more than 95%. Contributing to Germans' ability to afford international property was the country's high number of ultra high net worth individuals last year of 17,820, second only to the United States. Despite the weakness of the eurozone economy and Germany's own slowing growth, no major eurozone country grew faster in 2013. However, interest in U.S. properties has tapered off recently, despite the euro's gains against the dollar. Between 2012 and 2013, the number of German prospective homebuyers to RealtyTrac rose by just 3.4%, less than most foreign nations during that time.

9. Sweden

> Growth in prospective homebuyers: 100.0%
> Share of int'l prospective buyers: 2.0% (9th highest)
> GDP per capita: $40,870 (14th highest)
> Ultra high net worth population: 1,070 (25th highest)

The number of Swedes interested in buying U.S. real estate doubled between 2009 and 2013. Much of this growth happened last year, when the number of Swedish home searches to RealtyTrac rose by 43%. Like many countries with many residents looking for homes in America, U.S. property may be considered an especially good investment, especially as their country's economy has been stagnant. Sweden's gross domestic product has grown less than 1% in each of the past two years. Additionally, many Swedes might find U.S. home prices more affordable. U.S. home prices remain below last decade's highs, while many market followers believe Swedish home prices are precariously high.

8. Canada

> Growth in prospective homebuyers: 107.7%
> Share of int'l prospective buyers: 45.0% (the highest)
> GDP per capita: $43,146 (9th highest)
> Ultra high net worth population: 4,980 (8th highest)

Canadians make up the largest share of international U.S. home-buying interest, accounting for 45% of total international RealtyTrac subscriptions between 2009 and 2013. The U.S. geographical proximity to Canada and the cultural similarities between the two nations may explain the interest of Canadian investors. The strength of the Canadian economy may have also given residents more opportunities to invest. Last year, the average Canadian household's net worth, the total value of all assets minus all debt, exceeded that of the average U.S. household. Residents may also find U.S. properties attractive because some consider Canada's housing market to be overvalued by some.

7. Australia

> Growth in prospective homebuyers: 121.9%
> Share of int'l prospective buyers: 11.0% (3rd highest)
> GDP per capita: $43,042 (10th highest)
> Ultra high net worth population: 3,405 (11th highest)

Australians accounted for 11% of all of RealtyTrac's international subscribers, third most after the United Kingdom and Canada. The country's strong economic growth — at least when compared to other major developed economies — likely contributed to the increased interest in buying U.S. property. Australia's economy grew by 3.7% in 2012 and an estimated 2.5% last year, according to the most recent IMF figures. By contrast, countries in the developed world grew by just 1.4% in 2012 and 1.3% in 2013. Despite recent declines, the Australian dollar has also gained considerably against the U.S. dollar in the past few years, also potentially contributing to the increased interest.

6. United Kingdom

> Growth in prospective homebuyers: 153.8%
> Share of int'l prospective buyers: 12.1% (2nd highest)
> GDP per capita: $37,299 (21st highest)
> Ultra high net worth population: 10,910 (4th highest)

U.K. interest in owning American property has jumped in recent years, including a 34.6% increase in the number of residents looking for property on RealtyTrac alone. Economic reasons could influence prospective homebuyers — residents may see U.S. homes as a safe or profitable investment. The U.K. government's Help to Buy program, which provides financial help to prospective homeowners in the U.K., has drawn controversy. Detractors of the program have expressed concerns that home prices in the U.K. could rise to unsustainable levels. According to a June 2013 study by the National Association of Realtors, U.K. residents primarily buy single-family homes in suburbs and resort towns in the United States.

5. Italy

> Growth in prospective homebuyers: 178.4%
> Share of int'l prospective buyers: 1.9% (10th highest)
> GDP per capita: $29,598 (34th highest)
> Ultra high net worth population: 2,075 (14th highest)

Italian interest in U.S. homes rose considerably in recent years. Residents looking for homes in the U.S. rose by 178% between 2009 and 2013, despite Italian GDP falling by 2.4% in 2012 and 1.8% last year. In fact, the faltering economy may encourage many Italians to consider U.S. property as a relatively good investment. Italy is also home to a number of extremely wealthy citizens with the resources to invest globally. As of last year, there were more than 2,000 ultra high net worth individuals in Italy — 14th most globally — despite the fact Italy's population totals an estimated 61 million, 24th most in the world.

4. France

> Growth in prospective homebuyers: 190.0%
> Share of int'l prospective buyers: 2.8% (6th highest)
> GDP per capita: $35,680 (24th highest)
> Ultra high net worth population: 4,490 (9th highest)

Interest in the United States from French residents has soared recently. Searches for homes on RealtyTrac from France nearly tripled from 2009 to 2013, and rose by nearly 60% last year alone. One reason for this may be that France had nearly 4,500 ultra high net worth residents as of last year, more than in all but eight other countries globally. However, France's economy has also flatlined in recent years, which can often prevent foreigners from buying U.S. property. Simultaneously, many observers and residents have criticized President Francois Hollande's socialist policy decisions and the resulting high taxes. A number of reports indicate that residents may be leaving the country due to high taxes and tough regulations.

3. Hong Kong and China

> Growth in prospective homebuyers: 254.2%
> Share of int'l prospective buyers: 4.1% (4th highest)
> GDP per capita: $52,687 (7th highest)
> Ultra high net worth population: 13,855 (4th highest)

China's residents are a major source of international interest in U.S. real estate. China and Hong Kong, collectively, accounted for 4.1% of all international searches on RealtyTrac, more than any other non-English speaking country. One factor that may contribute to this demand is the high number of ultra wealthy residents in mainland China and Hong Kong, where a total of 13,855 such individuals live — more than in all developed nations but the United States, Germany and Japan. In recent years, many wealthy Chinese citizens have considered, or expressed interest in, moving to the United States. Additionally, while China's economy remains one of the fastest growing in the world, concerns about slowing economic growth and rampant shadow banking activity in the country are considerable. A relatively wealthy population, and concerns about wealth protection, may encourage Chinese residents to consider U.S. property.

2. Switzerland

> Growth in prospective homebuyers: 269.7%
> Share of int'l prospective buyers: 2.1% (8th highest)
> GDP per capita: $45,999 (8th highest)
> Ultra high net worth population: 6,330 (7th highest)

The number of Swiss residents interested in U.S. property has risen dramatically in recent years. Only the United Arab Emirates had a larger increase in the number of prospective homebuyers than the small Alpine nation. Swiss residents accounted for 2% of all international searches despite a population of just roughly 8 million — smaller than New York City. Despite its size, Switzerland was also home to more than 6,300 ultra wealthy residents last year — more than all but a handful of countries. Also helping to make U.S. properties more appealing, or at least more affordable, is the considerable appreciation of the Swiss franc against the dollar over the past five years, up nearly 27% in that time.

1. United Arab Emirates

> Growth in prospective homebuyers: 352.2%
> Share of int'l prospective buyers: 1.1% (12th highest)
> GDP per capita: $29,877 (31st highest)
> Ultra high net worth population: 1,050 (26th highest)

While UAE residents accounted for just 1.1% of RealtyTrac's international searches, interest in U.S. property from the country has boomed. Between 2009 and 2013, the number of UAE subscribers rose by 352%, the largest percentage increase of any country. One reason may be the relatively high number of residents who can afford international property ownership. While the country has just 9 million residents, it had more than 1,000 ultra high net worth residents last year. Much of this wealth is likely connected to the country's oil industry. Roughly 40% of the emirates' GDP was tied to oil and natural gas output, according to OPEC, and oil prices have risen considerably in recent years.

24/7 Wall St. is a USA TODAY content partner offering financial news and commentary. Its content is produced independently of USA TODAY.

 
 

UT - Business - April 16, 2014

Home Sales off to a Slow Start

This inventory, low investor interest keep county market unexpectedly sluggish.

San Diego County's housing market is off to one of its slowest starts to peak buying season, which began in March.

Last month, 3,057 homes sold for a median $427,000, real eastate tracker DataQuick reported Tuesday. That's a boost in activity from February's 2,541 sales at median $410,000 but it was a nearly 20 percent drop from the sales in March 2013. Last month was also the slowest for March since 2009, toward the end of the Great Recession. March is generally the month in which activity in the housing market picks up, as weather improves and some families plan to move during the summer.

DataQuick analyst Andrew LePage said there are a variety of reasons for this year's slow start.

"The inventory of homes for sale remains thin in many markets. Investor purchases have fallen. The jump in home prices and mortgage rates over the past year has priced some people out of the market, while other would-be buyers struggle with credit hurdles," LePage said in a statement. "Also, some potential move-up buyers are holding back while they wiegh whether to abandon a pheonmenally low interest rate on their current mortgage in order to buy a differnt home."

jonahthan.horn@utsandiego.com

619. 293.1891

"What a change in weather! It was sleeting when I left St. Louis. Here, on the 23rd of February, pam trees leaves flutter in warm wind and sun."

- Charles Lindbergh, American Aviator

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Solana Beach, CA 92075

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