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?
The most coveted estate within the the prestigious Sherwood Country Club. Newly remodeled, this Colonial Revival is situated on a 6.5 acre promontory. Enter through the gated entry and arrive at a circular motor court with stunning 360 degree panoramic views of the Santa Monica Mountains and Lake Sherwood. Designed by renowned architect Richard Landry, the 13,000 square foot residence includes 6 beds, 8 baths, and 2 guest houses. Exquisite, elegant craftsmanship is apparent in every room, with no detail overlooked. Amenities include a master suite with sitting room and dual baths, screening room, fitness facility, billiards room, office, championship tennis court, outdoor entertainment area, wood burning pizza oven, wood and gas barbecue, and formal gardens.
Fremont Place: a park-like gated community in Hancock Park, home to celebrities, government officials & entrepreneurs. An elegant entrance of cast concrete columns greets residents. Set back from the street & surrounded by mature landscaping for utmost privacy. Step inside to a stunning 2-story entry; continue to the formal living room w/dramatic double height wood beamed ceilings & large fireplace. A gorgeous sunroom overlooks a lush courtyard & fountain. Grand 2-story ballroom doubles as a home theater. A lavish dining room w/coffered ceiling is perfect for dinner parties. Main level also includes a gourmet chef's kitchen w/walk in pantry, breakfast room & guest suite. Second level includes a screening lounge, primary suite w/large walk in closet, spa like bathroom & custom blue themed guest suite. Includes detached guesthouse, gym, loggia, outdoor dining, pool & spa. This is truly a one of a kind estate that can't be duplicated. A rare chance to own a piece of Hollywood history.
Beautifully re-imagined Mediterranean Revival, located on one of the most notable streets in Los Feliz. Meticulously restored and seamlessly expanded, this exquisite home blends original period details with todays modern amenities. The entry level includes a grand 2-story foyer, step-down living room, wood-paneled study, extraordinary kitchen with breakfast bar and banquet, media room, dining room, and powder bath. The 2nd level features a 900 sq ft master suite with expansive city views, vaulted ceilings and exposed beams, a separate sitting room with a dual fireplace, luxurious bathroom, walk-in closet, and private patio. Also included upstairs is an alcove reading area, 3 spacious bedrooms and Ann Sacks tiled bathrooms. The property goes on to include a large, detached guest house/ workspace with kitchen, bathroom, and unobstructed views. Separate cabana/gym with a pool bath. Landscaped grounds, sprawling backyard, pool, built-in BBQ, outdoor lounge and fireplace. A true must-see!
One of Point Dume's finest homes! A rare opportunity to own a spectacular compound with a beach key. This enclosed 1.2-acre lot boasts a large main home, pool/spa, 3-bed detached guest house, tennis court, chicken coop, flourishing gardens, and deeded Riviera II beach rights. The main home features 6 beds, 6 baths and epitomizes the casual elegance Malibu is renowned for. Luxury finishes include high wood-beamed ceilings, a chef's kitchen with a breakfast bar, study, and living spaces that seamlessly flow into the dining area and out onto ocean-view decks. Upstairs, the master suite enjoys beautiful coastline views and includes a balcony, multi-room walk-in closet, and luxurious bath. Lush lawns and flagstone paths effortlessly lead from the pool/spa to firepits, a secret garden, and tennis court. The guest house is uncommonly large with 3 beds and 2 baths. It retains total privacy with its own gate, driveway, enclosed backyard, and a bonus room that overlooks the tennis court.
Oceanfront lifestyle with beautiful coastline and open ocean views. Local architect Charlie Rose designed the sprawling single-level residence offering a nice separation of space and an open concept floorplan showcasing the ocean views, high ceilings, and overall volume of the home. The floorplan offers a nice transition from the open areas into large bedroom suites. Banks of picture windows and skylights bring in natural light throughout. The kitchen is outfitted with all the state-of-the-art appliances, stone counters, and ocean views. The private stone covered patio offers you an extended entertaining area and an indoor-outdoor flow to the residence. Make your appointment to see Wild Cat.
Situated on an elevated oceanfront bluff in midtown Manhattan Beach, this home enjoys panoramic whitewater ocean views from Palos Verdes to Malibu. Highly desirable location within an easy 10 block walk of the shops, restaurants and nightlife in downtown Manhattan Beach. Whimsical and modern in style, this one is not more of the same old stuff! Distinctively designed by Giorgio Dazzan and Associates, the home is a blend of curvilinear shapes and sleek finish detail that create interest and intrigue throughout. Four bedrooms with private baths and a large office area. An indoor Pool and Spa on the Strand level are visible through glass floor panels in the Great Room. A Sauna, Steam Room and Spa Bath compliment the Pool area. Curved walls of SwitchLite glass face the central courtyard, flooding the interiors with natural light. Finishes include distinctive stone and tile work throughout. Italian Rimadesio opaque glass interior doors. A Crestron Home Control System, Lighting Control System, Radiant Heat and Dual Zone air conditioning are also integrated. Prepare to be wowed - this is a wonderful home.
Epic. Elegant. Sophisticated*Rare opportunity to unquestionably own the best modern estate property in the Silicon Valley*To be completed in 2021*This custom estate is over 6,600 SQFT w/ approved plans, possibility to build a detached guest house & an infinity edged pool*Located on one of the most sought after Silicon Valley neighborhoods in Willow Glen & close to the new Google Campus*This estate will exceed your expectations & and is truly an entertainers dream home*This estate was designed by Maurice Camargo, a most renowned modern architect who is consistently creative & original*This home includes an enormous bonus room/home theater/in law quarters, wine cellar, white oak hardwood floors, top appliances, full pocket doors, 3000+ SQFT of outdoor living view decks, three car garage w/ epoxy floors, multiple built ins, and wet bar*Open light filled floor plan includes two master suites*Lap pool, spa, bonus room, home gym, home theater, Chef's kitchen, & located in complete privacy!!