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?
NEW PRICE for Priceless Ranch! Just south of Morgan Hill, a few miles from Watsonville Road and on the Santa Clara Wine Trail is the turn off to Redwood Retreat Road and the way to Bates Ranch Vineyard. A 932 acre private haven that has been in the same family since the late 1950s, with a beautifully preserved William Wurster designed main house that watches over the park setting, surrounded by heritage oaks & serene gardens that greet you as you pull up the classic gravel drive. The award winning 22 acres of vineyards produce some of the best known and sought after Santa Cruz AVA wines. The opportunity to increase the vineyards, plant olive groves, & create a farm to table lifestyle is all there! Bring your horses, explore the trails, round up your own cattle . A number of optional settings await your new dream home. These private lands & vineyards await the next steward who values the private yet close location to enjoy as week-end retreat, summer place, a full-time ranch or retreat.
Approved plans for a 30,000+ sq. ft. modern Mediterranean home overlooking Beverly Hills. With plans designed to maximize light and views, the hillside architectural would fuse an entertainer's dream and a luxury retreat, from an expansive family and entertainment room to over 4,000 sq. ft. of covered patios, and even a wine tasting room with production capability and storage capacity for a world-class collection. Also outlined in the plans is a sumptuous private master suite with a private garden and pool. Revel in the beauty of the impeccable landscaping with olives, lemons, pomegranates, and avocados as well as legacy gardens. The dramatic motor court draws inspiration from the original Rudolph Valentino Estate. Formerly a retreat for the late socialite Doris Duke, the property also comes with an existing guest house and garage.
Prime Beverly Hills Flats East End Opportunity to Own a Fabulous Contemporary Designed by Architect Buff & Hensman with 5 Bedrooms and 6 Bathrooms. Front Yard Entrance Leading to a Charming Courtyard and Swimming Pool. High Ceiling in the Front Door , Downstairs Two Bedrooms Suites and Powder Room, Gorgeous Living Room and Kitchen with Central Island, Spacious Master Suite on the Second Floor with 2 Great Sizable Walk in Closets and Soak Tub. Attached 2 Car Garage in the Back Alley and Additional 4 Cars Parking Space in the Front. Fixer-Upper in Desirable Area. Excellent Investment Potential or You can Renovate this House of Your Dreams.
Majestic CA Traditional on over 1.7 acres (74,870 Sq Ft) of gorgeous grounds w/ grt pvcy in the very finest BW Park location. Set off the st behind gates w/ mature gardens, towering trees, circular drive, this gracious estate reminiscent of Pasadena's Tournament of Roses Hse has been painstakingly restored, remodeled & expanded w/ no detail overlooked or expense spared. Beau proportioned main house organized around a ctyd includes formal entry, generous LR, fam rm, cozy library, cook's kitch; & fab master ste w/ sit area, fP, pristine bath & lg fitted closet. 4 addl BR's in the main hse + upstairs plyrm, 2 laundry rms & mudrm. Set in the garden is an equally charming 2-sty gst hse w/ gym, full kitch, liv rm, office/bedrm & two bths. Expansive park-like grounds include terraces, outdr FP, fountain, rolling lawn & lg pl/spa. Extremely rare oppty. Note: The 1.7 acres/74,870 Sq Ft consists of 2 lots (12834 & 12846 Highwood) each over 37k sq ft, w/ 12846 Highwood being vacant/unimproved.
Welcome to this truly one-of-a-kind property, hidden within the rolling hills of Orange County. What makes us so confident of its unique nature? The property features 36,000 sq. ft. of living space, situated on 26 acres of land, including a spacious, sunlit courtyard. Panoramic views extend from Beverly Hills to Catalina Island down to Newport Beach. The expansive, beautiful, light-filled interiors artfully incorporate original Spanish mission architecture. Never worry for space with a separate guest house as well as numerous guest rooms with independent courtyard access, plus garage space for 15 vehicles. There is a large, formal interior dining area, a smaller dining room for more casual gatherings, an interior catering kitchen, as well as an exterior kitchen for easily accommodating the preparation of large meals. Throughout the property, you will find beautiful, meticulously-maintained gardens and landscaping. Among the many, a few other notable amenities are the custom pool and other water features, an enormous koi pond, and two elevators. Superb security arrangements include: a private, gated entrance within a gated community—effectively a “double gate,” exterior security camera system, 1,400 sq. ft. security garage, and a secure “panic room.” As you can see, this is a truly rare space, incorporating superb amenities capable of accommodating large numbers of people, ample light-filled space with expansive views, and excellent security arrangements.
Bespoke Beverly Hills estate is classic in design and contemporary in amenities. Every inch of this distinguished residence expresses both comfortable living and generous entertaining. Located just one minute from the Beverly Hills Hotel on about a third of an acre, the approx. 5500 Sqft. home is offered furnished. The open plan design features high ceilings, hickory and aged-limestone floors, custom cabinetry, and fine wood, tile, and marble craftsmanship. In the dramatic living room, a wall of glass doors folds away to reveal an outdoor covered patio/living room with a fireplace, and an adjacent office also opens to the back yard with patio, fire pit, and handsome landscaping. Additional features include formal dining room; spectacular chef's kitchen with center island, breakfast bar, and breakfast area; family room; and gorgeous bedroom suites at the top of a graceful curved staircase. The home has a huge gated motor court, covered parking for four cars, and room for a pool.
Panoramic Ocean & Mountain Views - Castillo Del Mar all redone in 2011. Contemporary Villa with over 6400 Sq ft. Five Bedrooms plus a detached ocean view, Recording studio that can be converted back to a guest house. This beautiful villa offers a Great Room with limestone floors, full bar, opening up to a gourmet island kitchen. First floor oversized master suite with fireplace, and huge walk-in closets. Ocean view Master bathroom with marble counters and floors, spa tub and steam shower. Adjacent is an ocean view bedroom with bath. Walnut floor staircase leading to the upper level Theater and Music room with state of the art sound systems. Two additional bedrooms and bathrooms with ocean and mountain views, ocean view office with wet bar. Elevator, lap pool with Jacuzzi/waterfall. Outside entertainment area off the pool with outside fireplace, kitchen with BBQ and 4 car garage w/ large motor court lush landscaping on over 1.5 acres. Smart house gated & private.
Nearly an acre and a half of unlimited potential in Prime Bel Air. Sweeping views from the ocean to Century City, this lot is a perfectly situated site for a future trophy property. The land's prestigious history includes being home to an American music icon and as the vineyard for the renowned Chartwell property. One of the most exclusive addresses in all of Bel Air and an opportunity that will never be seen again.
One-of-a-kind opportunity to own a 25-acre compound w/awe-inspiring ocean views,remarkable features & potential! Exquisite equestrian facilities w/9 state-of-the art stables w/Crestron cameras, showers for horses, tack room & lounge w/ocean views, full bath & changing area. Computerized arena w/turf-water springs (from Austria) to ensure optimal riding. Beautiful house steps from stables w/garage, laundry room, living flows to kitchen/dining, bath & picture windows welcoming floods of light. Unique water filtering/storing system thru 4 veins in canyon resulting in thousands of gallons to service property. 75,000 gallons are stored on the property in 4 tanks on a regular basis. Includes 15 acres of buildable land, flat area designated for helipad, horse trails, outage generator, main house w/ocean views, recently renovated guest cabin w/koi pond, tennis court, 2 gated entrances off PCH & more. A compound unlike any other & unique opportunity for horse-enthusiast, developers & more!
$1 MILLION REDUCTION IN PRICE! Built in 2008 & expanded in 2015, this 10,000 sq. ft. estate rests on 2 acres and blends design & form in a sophisticated, organic style. From the gated motor court approach, embark on an experience for all the senses! Breathtaking views, exquisite features, technology, solar & seamless interior/exterior living invites relaxation or recreation. The grand, architectural entry flows into a massive living area with 24 foot cedar ceilings, walls of glass & suspended fireplace, a double sized dining rm, art gallery, chef's kitchen and media/family gathering room. Soaring walls of stacked stone, water features & cedar ceilings flow throughout the estate. Main house features 3 bedroom suites in addition to the pool-side Master Retreat w/ 2 full spa baths, lg home office, wine vault & free form pool w/ grotto & swim up bar. Grounds offer a championship level tennis court w/ pavilion, Bocce court, sports court. Entertainment pavilion easily holds 200. FURNISHED!
An absolutely stunning residence located within the exclusive 24 hour Guard Gated community of Ritz Cove! Panoramic ocean and Catalina Island views from both levels of this outstanding residence! Only 3 homes from the private and gated beach access at the phenomenal Salt Creek World class beach. Approximately 5,850 sq ft with over a 13,000 sq ft building site. 5 bedrooms, 7 bathrooms inclusive of an outstanding detached Casita containing its own bath as well as its own access. This beautiful Tuscan architecture boasts gorgeous mahogany doors, windows and shutters, plastered walls, arched half-barrel ceilings, antique marble and paver floors, mahogany cabinetry, multiple lime stone fireplaces, and custom tile work throughout! Kitchen contains beautiful white marble counters with custom Italian tile back splash, a walk in pantry and butlers pantry! Formal dining and living rooms are very grand, open and spacious. Custom electric draperies! A very spacious master suite that contains both his and her closets, as well as a sauna located in the master bath! The ocean view deck off the master suite offers an incredible tranquil setting with indescribable views. The landscaping and hardscaping are absolutely wonderful and rear year contains a covered patio area as well as a beautiful pool, spa, barbecue area & fire pit. This custom residence has been meticulously cared for and its custom features and amenities are numerous! Walk to the Ritz, the Salt Creek Beach... this is a 10+!