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?
Only 1 and a half hours from Los Angeles to Paradise! LAKEFRONT!The Ultimate Lake Arrowhead Lakefront! Not another like it. Surrounded by water on 3 sides. Custom Built. Presidential Master Bedroom Suite with 2 Fireplaces and Wet Bar. Entirely Separate Guest Wing within residence with 4 Bedrooms, 2 Baths, Grandscale Living/Game Room with Bar. Gentleman's Sports Bar and Lounge. Elevator. Grand Patio Area. Double Dock. Spa and Sauna. Separate 2 Bedroom Guest House. Total of 9 Bedrooms and 8 baths. 2 Garages. Wonderful Guest House as well.
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 bedrooms 2 bath ranch home. Blufftop frontage overlooking Will Rogers Beach with unobstructed Queen Necklace views, year round streams. Miles of trails. 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
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.
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.
BIG PRICE CHANGE...GREAT VALUE...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 49.56 Covenant acres. 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.
Located on sandy Malibu Colony beach, this stunning architectural four bedroom residence plus guest studio evokes the essence of Malibu sophistication on the beach. Gated for privacy, one enters into a large fully landscaped courtyard complete with a modern stone water feature leading to a large glass enclosed sky-lighted entry. The beautifully furnished dining and living area featuring retractable buffets, soaring ceilings, art walls, and ocean side wall of glass boast impressive ocean views. A private stairway takes you to the ocean view master bedroom and bath equipped with a glass privacy partition, skylights that allow you to look at the stars in bed as well as a sitting area and oceanfront patio. The spacious beachfront patio with pool, spa and umbrella topped tables is the ideal location for entertaining friends or a peaceful retreat for relaxing. The detached studio is complete for live in staff or visiting friends. Experience the perfect combination of luxury and location.
Spectacular Mid Century Contemporary Residence with stunning spaces and walls of glass overlooking world renowned Butterfly Beach. Absolutely sensational ocean and island views. Perfect location for enjoying Montecito, Wonderful Coast Village Road shops and dining, The Four Seasons Biltmore and The Coral Casino are a short stroll. Gated and Private. A truly remarkable Montecito property.
This enclave has everything - Premiere Location… Privacy…Stunning Views…Easy Access…Solitude…and so much more! Perfect parcel to build 2 separate homes, a compound or for the savvy investor. The ocean is the star of this oceanfront estate. Entering the gate of this private oasis, a secluded retreat is revealed in the lush, tranquil gardens and breathtaking shoreline. Astonishing 180 degree views include stunning vistas of Catalina and San Clemente Islands, tide pools, miles of coastline and ever-changing Pacific sunsets. Retained for decades by the same family, this offering is one of very few luxury oceanfront compounds still in existence in the Laguna Beach area. The offered property is comprised of No. 5 and No. 6 Rockledge Road and encompasses nearly half an acre of usable oceanfront and approximately 160 feet of breathtaking ocean frontage. No. 6 has 4 bedrooms, and a detached studio or guest house. No. 5 is an intimate bungalow perched high to revel in astounding views of the seaside. Located on a quiet road, the hideaway is still centrally located within the village of Laguna Beach and easily accessible to the village, Coast Highway, sandy Victoria Beach and the marine protected reserve that is Laguna Beach proper. Whether to be used as a primary residence or as a private retreat, offerings like No. 5 and No. 6 Rockledge Road are rare. Excellent location, privacy, magnificent views and story-book enchantment await its new owners