It's No Joke: Real Estate Bargains in Rancho Santa Fe

It may be hard to consider any Rancho Santa Fe (92067) real estate a bargain, when single family Rancho Santa Fe homes start at $1.15 million and currently peak at $29.9 million.

Moreover, only 16 of the current 167 active listings in RSF are priced under $2 million.

Hardly the bargain bin of real estate.

Rancho Santa Fe, nestled in the eucalyptus groves of North San Diego County, is perennially listed as one of the wealthiest zip codes (92067) in the nation, and is generally seen as being almost bullet proof when it comes to market downturns.

Still, with some diligent searching, we have bumped into a few notable buys:

• A 3220 square foot Del Rayo Downs home in Rancho Santa Fe was purchased for $1.74 million on 3/14/2006. It is vacant, in lovely condition and has been reduced to $1.395. The owner will even consider a trade.
• A gated, private and single story Mediterranean estate with over 5000 square feet on one acre just closed escrow at $2.1 million. It needed TLC, but the lots and bones were probably worth the total price. Located just outside Fairbanks Ranch.
• A 19.4-acre gated Covenant estate was listed at $29.5 million last August and closed escrow at a paltry $21 million last month. It was reportedly a cash sale.
• A Notice of Default has been filed against a lovely and very spacious 3-bedroom Rancho Santa Fe condo that has recently been reduced to around $1.2 million. I am already calling clients on this one.
• Another Rancho Santa Fe townhome was reportedly purchased for $1.675 million in the summer of 2005. It is now on the market at a value range of $1.3 to $1.4 million, has assumable financing, and guaranteed golf membership in the Rancho Santa Fe Golf Club .

Click to continue reading about Rancho Santa Fe real estate bargains.

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