The renowned community of La Costa is known around the world due to its world class resorts. The area became a part of the city of Carlsbad in 1972 and ever since that time has provided a whole host of visitors to some of the most expansive views, of lush canyons, rolling hills and the great Pacific Ocean. The real estate market is in a healthy condition and there are lots of people who are looking to invest in the real estate market of La Costa.
The History of La Costa
La Costa came into being in the year 1965, when incidentally a partner of the famous Desert Inn Hotel, located in Las Vegas, bought a total of 3,500 acres of land. That person played a major hand in the construction of the La Costa real estate, and established the Rancho La Costa Inn, which included 90 rooms for accommodation. The site also included a Spa and later onwards a further 2,000 acres were purchased as the Inn started to develop and grow in size.
Nowadays, people both rich and famous, come to visit the famous La Costa Resort and Spa community, and in 1987, a Japanese company known as Sports Shinko bought the Resort for a record price. They then sold it off after 14 years to a California resort hotel group at a loss. The group then sold the Resort to Goldman Sachs, which is affiliated to Whitehall Street in 2007, and bought it back in 2010. Now it is finally gathering momentum again after the real estate market crash and further plans are underway to restore the Resort to its former greatness again.
The Lifestyle of La Costa
The La Costa Resort and Spa underwent a major uplift in 2007, which cost around $150 million in renovations. That has transformed the Resort, with the addition of 2 PGA championship 18-hole golf courses, 23 tennis courts, 3 swimming pools, 1 movie theatre, 3 lounges and excellent restaurants. The upgrades on the amenities really added the shine back to the resort and a further 14,000 square feet were added to the Resort as well.
There are plenty of magnificent neighborhoods in La Costa, which provide private real estate options, condominiums, apartments and luxury homes galore. There are even some older condominiums and homes on the market, with new homes being developed on the vast expanses of vacant land available in the area.
Located on the hills of La Costa are the Estates of La Costa, which provide spectacular views of the Pacific Ocean. There are luxury homes on sale, which have been custom built and the average price of a home ranges from $1.5 million onwards. Considering the fact that the homes are built on sites ranging from 0.5 acre to 2 acres, with homes being 3,000 to 5,000 square foot in size, it is a fairly decent priced market. There are excellent schooling options in the city as well, with lots of top quality colleges, and schools for younger and older children.
The Real Estate Market in La Costa
There have been tons of activities in the real estate market, when it comes to the La Costa community, with their being a 4 % increase in the home price median. This means that the market is heading in a healthy direction, and statistics suggest that there has been an annual appreciation of the prices of around 6%-8%. The price per square foot of homes in the community actually decreased by around 3.4%, which suggests that there will be plenty of good property values being listed in the near future.
The real estate market in La Costa is expected to remain highly competitive and in favor of the home buyers in the near future. This means that there are lots of great options for real estate investment in the community, and if you were looking for a chance to invest, then now is the best time for that!