Many top executives at large investment banking firms will be depositing some jumbo bonuses by the end of this month–and I can’t help but wonder if San Diego real estate and luxury home sales will also get a boost from this largesse.
Despite an overall bonus decrease of 10% due to months of multibillion-dollar bank write-downs and a spreading credit crisis, many will be pocketing some still-sizeable sums.
Depending on which firm they work for and the position held, some of these Wall Street and corporate bonuses can range anywhere from up to $2 million to $50 million.
Real estate prices this year have dropped and where else should these high earners invest their bonuses?
According to Forbes, some of these bonus recipients may also be rookies as well as first time homebuyers looking in the $5 to 6 million range. For top executives, the bonuses will be substantially more and potentially leading them towards the $20,000,000 home range.
Some rich real estate markets such as Manhattan, San Diego, the Silicon Valley area, Los Angeles and other top markets, just might see an increase of sales come the end of the year. Interest is already brewing in a number of these luxury markets.
In the coastal San Diego real estate market for example, Rancho Santa Fe, Del Mar, La Jolla, Carmel Valley, Coronado, Solana Beach, Cardiff, Encinitas, Carlbad and downtown San Diego (all coastal) offer some of the finest luxury homes in San Diego County. Inventory levels are also attractive for these flush buyers, which should make the home shopping experience even more fun.
At the other end of the country, many bonus-rich buyers will be shopping properties in Manhattan including townhomes overlooking Central Park, which have asking prices at $50,000,000 or more. These executives might not be able to pay cash for one of these properties, but can rest assured that large down payments will be coming from a secure source.
Of course the purchase of one of these homes will depend on the size of the bonus. But for some just starting out in the business, a nice condo in a great location would work very nicely–and San Diego might be just the ticket.
Heres wishing fat bonuses to all!
For additional information call Scott or Roberta Murphy at either 760-942-9100 or call/text at 760-613-6190
Curious about most expensive homes in Rancho Santa Fe, Del Mar, La Jolla and other fine communities?
Variance granted 150060590. A spectacular and rare 16.5 acre all usable parcel in Rancho Santa Fe. Stunning views of the mountains, 8 separate parcels, on a non-covenant island surrounded by covenant properties. Lots of possibilities...large estate, family compound or development opportunity.
Marvelous 5 Star estate in Rancho Del Lago. Lake views, tennis court, 2 guest houses, orchard all set on 4 glorious acres in ultra private gated community. Grand and gracious, this estate has been elegantly renovated with the finest of designer custom finishes and appointments. Ideal of extended family with a magnificent master suite plus 3 bedroom suites and sitting area on one wing, and additional bedrooms on the opposite wing. The separate guest house and additional pool house welcome...(Supplement)
Remarkable 190+acre property in Bonsall, equestrian area close to San Diego, offers sophisticated farm living without isolation. Gardens, 3 ponds & lawns surround owner's 4 bedroom/4 bath hacienda w/pool. Enjoy mountain vistas across alfalfa fields, horse paddocks,+citrus/avocado groves. Amenities include extensive indoor tennis pavilion, separate 3/bd guest house, large equip dwelling facilities, + a separate managers residence w/pool. Gated & private w/character and country beauty. Exceptional property!
Privately situated one of the most premier view sites in all of Rancho Santa Fe, no expense was spared in creating this Wallace Cunningham custom designed 5BR Estate. As a crucial element in his designs, light was brilliantly incorporated to define, fragment and animate space. The Great Room is stunning with walls of glass opening on both sides: overlooking the stunning view beyond the zero edge pool on one side and the entertaining courtyard on the opposite side...see suppplement
Opportunity knocks on the Bayfront! Prominently positioned on 100 feet of prime bay frontage in the coveted La Playa area of Point Loma, this exceptionally private residence rests upon a spacious, corner lot surrounded by beautiful landscaping. The expansive floor plan boasts 5 en suite bedrooms, 7 baths, his & hers offices, and a bonus room. Large living areas open onto a generous pool patio providing the perfect environment to dine al fresco while enjoying exquisite panoramas of the yacht-filled marina.
Nothing quite compares to the allure of this magnificent bayfront tennis estate. Gated, with rolling lawns and park-like grounds, it offers beauty in every direction. The views are stunning, both day & night, of a million points of light on the water, Shelter Island & the City of San Diego. Priced below the most recent appraisals, it has the Mills Act designation which provides significant tax savings. Comprised of 2 legal parcels. Main house parcel can be purchased separately from tennis court parcel.
3701 Ocean Front Walk is a 6 Bedroom/5.5 Bath tri-level single family residence under construction on a corner lot that will contain approximately 4351 square feet of interior living space. This will be a very high-end structure with major emphasis being placed on creating unobstructed views that will take full advantage of major view corridors. **SEE SUPPLEMENT**
Amazing opportunity to own a trophy property!! Coronado's most remarkable water front estate, named SEASHORE has the most ocean frontage of any Coronado home with approx 250' along Ocean Blvd!! Designed by the famous San Diego architect, William Hebbard, this grand mansion with its stately rooms and gardens, takes advantage of spectacular beach views!! Unique opportunity to own an extraordinary estate on the ocean front. Combined lots total approx. 25,000 sf.
EXTRAORDINARY LIVING... This single level contemporary Mediterranean sits on a premiere, 2 Acre elevated site overlooking the legendary Rancho Santa Fe Golf Course 13th Fairway, the Lake and the Bridge to the Green. Almost brand new, used as a second home. This Covenant jewel is just the right size. Open floor plan bathed in natural light, using finest materials and design. Detached Guest House, Detached entertaining Loggia w/Summer Kitchen. Luxury living for formal and informal entertaining...Sup.
Del Dios Ranch presents an outstanding opportunity to acquire one of the most expansive tracts in coveted Rancho Santa Fe, California. Located in this affluent community, the property comprises some 61.24 acres (Covenant and non-Covenant). The residence itself is a magnificent redwood, glass, and marble structure, with foundations and framework of poured-in-place concrete commanding 360-degree views from its private hilltop location.
Thomas Jakway custom designed Mediterranean inspired Estate in the Covenant of RSF. Resting upon an elevated 5.99 acres w/ enchanting koi ponds, water falls, citrus groves, olive trees, massive, open & flat grass area, resort-style pool with cabana & entertainment area. This 11,325 sqft sprawling single level offers 6 bedrooms, 9 baths, grand office, hobby room, plus a detached Casita with Pool Cabana and bath, and a 9-car motor court. Cross the bridgeâ¦ pass the lionsâ¦ your castle awaitsâ¦
World Class Equestrian Property. Exquisite 24 stall barn with every amenity for horses and riders. Spacious 3 bd apartment and 7 groom's dormitories. Separate 1,800 sf owner's suite w/kitchen, 2 baths, wine cellar, office. Truly exceptional grounds include a large jumping area, dressage arena, grass field, paddocks, hay/storage bldg, plentiful parking & impeccable landscaping.Feels like private park. Overlooks adjacent preserve. Ideal RSF Covenant location near trails. Coastal breezes, easy access.