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
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One of the islands that are most near Athens, is Hydra, renowned for its cosmopolitan lifestyle, its natural beauty, its supply of Greek Ministers, and of Greek Navy admirals.Many a celebrity can be seen in Hydra every summer, most of them proud owners of properties.We are very proud to say, that for the first time ever, the villa of one of the most famous Greek Patriots from the 1821 successful revolt of the Greeks against the Ottoman Empire, is on the market. The villa of the beloved and much admired and revered admiral Miaoulis, has been painstakingly restored to its original glory by the famous Greek architect Varangis. With dreamy, unobstructed views of the Hydra straits, this unique piece of history, built in 1808, is something not to be missed by those who can truly appreciate an one of a kind property when they see it. Agents please read Private Remarks
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.
The largest residential property South of Sunset Blvd in the entire Los Angeles basin. 33 magical acres, 8 horse stalls and turnout several acres level, a small 3 bedroom 2 bath ranch home. 600 feet frontage on Will Rogers' Beach with unobstructed Queen Neckless views, year round streams. This property is almost one mile long. Best suited for one large estate. Nothing compares.
Shadow Mountain is an enclave of 46 wonderful estates that enjoy 24 hour live-gated security just minutes from all that Pacific Palisades has to offer. This spectacular property was conceived and custom built to recreate a comfortable and lovely chateau from the south of France. Set on over an acre with stunning ocean, hillside and vineyard views, 16242 Shadow Mt. enjoys a huge flat yard, a wonderful custom paved pool and a great sports court. The owners/builders imported antique and reclaimed tile, stone and pavers from France and generously and creatively added these beautiful and timeless finishes throughout the house. The house is nearly 9,000 sq. ft. and has high ceilings, oversized doorframes, walls of French doors and gracious places to relax with family and friends or host huge gatherings.The kitchen has it all and is a true chef's paradise with Viking appliances, wonderful work surfaces and 2 large farm sinks. There is an oversized 3 car garage and an electric charging station
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Once in a lifetime, an estate of such distinction becomes available. A palatial Mediterranean minutes from the heart of Beverly Hills, Palazzo di Amore sits on a rare approx. 25 acre promontory with panoramic city-to-ocean views. The prestigious residence embodies both majesty and family. Outstanding amenities include: quarter-mile, tree-lined private drive, waterfall, luxuriant gardens, sparkling pools. Colonnaded dining room with wine tasting room, grand chef's kitchen, approx. 10,000-bottle temp controlled wine storage, large tasting room, unrivaled master suite, Moroccan retreat, Turkish-style spa. Guest house, gorgeous terraced acreage, producing vineyards, pool, spa, tennis court & pavilion, reflecting pool, fountain, state-of-the-art entertainment complex with stage, theater, ballroom, bowling alley. Entertain in true luxury and sophisticated beauty. Bring your most discerning clients to reimagine this majestic estate in all its cosmopolitan grandeur.
THE BEST FLAT ACRE IN BEL AIR !!!! Reduced to sell!!! From the welcoming splash of the fountain by the gated circular drive to the lushly landscaped backyard, this gracious residence offers abundant privacy and impeccable quality. On over one acre of flat land, its timeless beauty creates an ideal setting for peaceful living and indoor-outdoor entertaining. In the main house (5 bedrooms, 5 full, 2 half-baths, living, dining, island kitchen, family, office, breakfast, laundry), large rooms with parquet or tile floors and crown moldings look onto the yard's patio, pool and serene foliage. The family room invites parties with its built-in professional bar. The bedrooms, upstairs, include a master suite with all-marble bath and French doors. There are 4 fireplaces, 3 separate ensuite bedrooms in guest house, detached 3-car garage, 60-foot ionized pool, outdoor kitchen, and brick patio with fountain, portico and ample deck and lawn for lounging, dining and poolside entertaining.
One of the most impressive oceanfront estates on the Southern California coast, this nearly three acre gated seaside compound sits on a scenic beach and renown surfing spot. Located in guard-gated Cotton Point Estates, this residence contains a multitude of spacious rooms within its nearly 13,000 square feet of living area. The expansive parcel with 450’ of ocean frontage affords an eminently livable arrangement of these spaces that captures amazing garden, ocean and sunset views from every major room. Grand two story spaces with beamed ceilings and intricate brick + stone walls are situated to take in ocean views through bronze framed windows. Limestone floors, walnut millwork, and Venetian plaster complement the architecture and setting. The rustic motif creates a casual elegance perfect for living and entertaining in this seaside setting. Highlights include an enormous master suite with sitting room + private terrace, 3 bedroom guest house, sport court, 55’ oceanfront pool, event lawn, and a 9 car garage. The residence is surrounded by generous terraces, broad lawns and mature gardens set above the ocean. Designed without compromise, this offering includes every imaginable amenity in a setting that is private, spacious, and surrounded by ocean views.
Authentic Italian village encompassing the largest assemblage in Beverly Park. On over nine acres, accessed by its own street, this one-of-a-kind property took over seven year to create. Expansive gates open to a 30 car courtyard surrounded by 40 foot tall Canary Island palms and a setting worthy of the best Italian palazzo. Inside the mansion, approximately 20,000 square feet afford every possible amenity from high ceilings to large and formal gathering areas to small and intimate spaces. A four plus acre backyard offers views to a pool with pool house, two-story guesthouse, tennis court, two bedroom guest house and a walking/jogging trail that surrounds the estate. A separate lot comes with possibilities for expansion or separate development. This is one of the finest estates ever offered in Beverly Hills.
This 500 acre estate is surrounded by thousands of acres. Seeing the Main House “Kudu House”, the Guest House “Bunkhouse”, the Manager’s House, and the Event Center, you will soon realize that you are entering something uniquely special in this 29 room estate with a combined total of 17 bedrooms and 20 bathrooms. The Kudu House with expansive great room encompasses an inviting foyer with an incredible view of the property. Bunkhouse with beautifully decorated western theme to compliment the nearby event center. Manager’s residence is designed with the same quality and attention to luxurious detail as the main house and is a 3 bedroom,4 bath home. Here you will also find custom solid handpicked cabinetry, granite countertops and customer pecan flooring. This home is also environmentally controlled with radiant floor heating. A short drive or adventurous walk brings you to the custom yurt surrounded by woods in a perfect blend of form and function. With approximately 10,000 square feet, the Event Center is the perfect venue for parties, corporate meetings, or family gatherings. There is also a nearby barn which includes a “Tack and Tackle” room equipped for horseback riding and fly fishing enthusiasts, corral with 10 calving stalls, and an arena that has enabled the owners to host parties and corporate events and also the Canadian Professional Bull Riding Association.
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