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views Luxe Outlook Expanding residential horizons in San Diego S an Diego County started the year off with a median home price of about $304,000—a decrease of nearly nine percent from December. But in America’s Finest (and perhaps most scenic) City, the abundant coastal and mountain terrain gives home buyers a chance to elevate their options, choosing from a vast inventory of stunning views. According to Realtor Seth O’Byrne of Troop Real Estate, a view can increase the value of a home or condo by as much as 20 to 30 percent, depending on its “wow factor” and scarcity. In La Jolla, appraisers estimate that a view can add $100,000 to $150,000 to a home’s value, he says. “If you can see breaking waves, sand and rocks, the view could be worth $500K,” O’Byrne says. “Peek-a-boo views on condos or townhomes could be worth as little as $10k, in some cases. “At a high-rise downtown, if every unit in a stack is identical from the second floor to the 20th floor (and) has the same view, the value to each unit is dramatically decreased.” Residential mortgage banker Craig Sewing, host of the KCBQ radio show REAL Talk, offers a more moderate estimate. He says a view will historically add about 10 percent to a home’s value, though many variables are involved. “It’s all about the comps,” Sewing says, meaning that the price one neighbor’s house sells for can have a direct and sometimes significant impact on the sales price of other homes in the vicinity. While jaw-dropping views come at a cost, average home values in neighborhoods with prime views have decreased considerably, making the time ripe to give these domestic overlooks a second glance. “There are FEWER than 400 resale condos available downtown, and that’s the lowest number in the last seven or eight years. If it’s under $350,000, there are multiple offers right away.” Sautéing is a scenic affair in the kitchen of Al and Janet Johnstone’s rotating home. —Real Estate Broker Joe Marcotte of Downtown Condo Showroom 40 pacificsandiego.com { March 2011}
Taking Turns Rotating home a labor of love for retired phone company exec and wife T hings have been looking up—and around—since Al Johnstone and wife, Janet, completed their rotating home atop Mt. Helix in 2004. The East County home, perhaps the only in the world that can make continuous 360-degree rotations, cost the couple about $1 million, though they received many material donations generated by the initial interest in their project. It took the couple three years to finish the home, with Al serving as architect and Janet as interior designer. “You can see the Coronado Bridge all the way around to Steel Canyon Golf Course (in Jamul),” Al says. “We can see the ocean, Point Loma, Downtown San Diego, Mt. Soledad, Catalina and San Clemente Island. So, yeah, it’s a great view.” Though most rotating bars and restaurants, such as Seattle’s Space Needle, have plumbing and electrical in a stationary, central core, the Johnstone’s rotating second story uses patented flexible plumbing and wiring. “In a house, you need to have plumbing and gas, Internet and HDTV in the rotating portion, so I had to go in and invent what I call the swivels that would allow that to take place,” Al says. He has patented 45 items related to his home technology and says he has an investor interested in building a high-rise in which each floor would rotate independently. “We have formed a company, 360 Technology,” Johnstone says. “If the economy ever turns around, hopefully somebody will build one.” Mt. Helix Stats: 4 bedrooms, 5,100 square feet Elevation: about 1,280 feet Rotation cycle: fastest, 33 minutes; slowest, 24 hours Year completed: 2004 Listing price: Not for sale Investment: About $1 million AvG. NEIGHBORHOOD home value: $425,000 (up from $390,500 last year) Rotating Mt. Helix home pacificsandiego.com 41
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Page 47 and 48: GROWING TREND The benefits of organ
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Page 53 and 54: D I N I N G O U T what’s cooking
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Page 67 and 68: groove Hedi Slimane b a r t e n d e
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