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?
Ideally perched atop 33 acres, the most spectacular contemporary house ever constructed in the prestigious Rancho Santa Fe Covenant is introduced to the market. 7 years in the making this organic modern masterpiece delights the senses with all rooms open to walls of glass framing the stunning mountain and valley vista views. At 22,500 sq ft the estate offers ample space including 6+ over-sized bedrooms containing a dedicated master wing with panoramic views and his and hers everything. (see supplement) [Supplement]: The gourmet kitchen is ideal for any entertaining situation yet maintains a warmth and good feel for such a large room. Not surprising, the house is completely self-sufficient with solar panels fully powering the home and amenities, resulting in little to zero cost on the electricity bill. State of the art smart home features simplify life and allow instantaneous remote access. Gallery gardens with exotic plants and flowers imported from the regions of South America, South Africa and Australia surround pool and water features designed with seamless integration between the home and landscape that creates tranquility and evoke moments of contemplation and happiness. Surrounding citrus orchards and flora communities have created a habitat for the indigenous butterflies, bees and humming birds. Healthy living and fun are anchored between a cricket lawn, putting green, professional grade sports court and private stadium style tennis court.
The romance and elegance of the French countryside are alive and well at this extraordinary white shuttered Provencal estate situated on over one-half acre in the exclusive golf preserve of Shady Canyon. In this private cul-de-sac, find panoramic views of the golf course, canyon, and night lights. Entertaining options abound for optimal indoor-outdoor living centered round fireplaces, private spa, pool, courtyards, and of course, stunning views. Two levels of luxury living encompass six bedrooms, six baths, and powder room in approximately 7,000 square feet. The spacious gourmet kitchen offers plenty of room to create culinary masterpieces. The great room blends into the kitchen, with picturesque golf course vistas. Sophistication and comfort join together in the amazing dining room, with its stone walls, barrel ceiling, and custom-built wine racks. A temperature-controlled wine room is close to hand to ensure the ultimate in accessible entertaining. The great room includes a full-service bar and seating area that opens seamlessly to an outdoor covered loggia, fireplace, and spa. French doors escort you to he grounds of the estate, which feature a plethora of places to relax and enjoy the beautiful scenery. To view floor plan please see listing supplements.
This “Once in a Lifetime Flintridge Estate features every amenity possible! This magnificent home is a unique blend of Spanish Colonial Revival & Art Deco architecture. The design, a collaborative design by L.G. Sherer & Pasadena architect, Cyril Bennett, was built by L.G. Sherer, and completed in 1929. The home of over 13,000 square feet, has been meticulously redesigned and remodeled extensively by both the previous & current Owners. There are two APN's totaling approx. 1.18 acres of meticulous landscaping, including numerous outdoor water features, fountains, koi pond, pool, spa, lanai, views & entertainment areas. This unparalleled home is ready for the discriminating purchaser desiring a property ready for entertaining. Between '99 and 2003, a total renovation and expansion was done, including an approximately 5000 sf addition comprised of the master bedroom, family room, pub, theatre, gym, sauna, bath & lanai. Current Owners ('06 to present) have taken the property to yet another level! They have done extensive remodeling, including the gourmet kitchen with custom cabinetry & reproduction Batchelder tile (2010) & the most spectacular Master Bath/dressing area (2018) w/ custom designed tile, THG fixtures & onyx counters. Completely remodeled pool/spa w/custom painted tile (2017). TOO many amenities to list: Lovely attached one bedroom guest apartment w/separate entry, Savant system, Lutron system, 4 car detached garage with motor court. #http://www.607foxwood.com
Arguably one of the most coveted properties within the quaint village setting of Newport Beach’s Peninsula Point this estate epitomizes Southern California Coastal living at its finest. Enter the private gated motor court with four car garage equipped with work shop, laundry, service bathroom and golf cart storage. Located directly above the garage find a fully detached apartment with living, full kitchen, bedroom, bathroom all surround by balconies and outdoor living space. Approaching the main residence you follow through the open air colonnade with large lawn to your left and swimming pool to your right. Once through the main residence front entry your eye takes you through the grand hallway past the 75 foot dock to Newport Harbor and the Fashion Island Skyline in the backdrop. Boasting 7 bedroom suites and 9 baths in total the property offers all the finest finishes and appointments one could ask for. Amenities include but are not limited to, executive office, billiards room, chef’s kitchen with breakfast nook adorned with premium appliances, multiple open air courtyards, fireplaces throughout, balconies, gym, subterranean theater, upper level observation deck with views from the harbor past the jetty’s to sunsets over the Pacific. The formal and informal bay facing living rooms open to heated loggias, sprawling lawn, BBQ, deck and dock and year round views of Newport Harbor.
GRAND 8BR/6BA PLUS 2 HALF BATH ESTATE COMPLETELY REMODELED WITH A MODERN INTERIOR EXCEPT FOR THE FOUNDATION & SOME INTERIOR & EXTERIOR WALL AND STUDS. TECH SMART HOME WITH WI-FI CONTROLS FOR LIGHTING, SECURITY, AND MORE! POOL FORMAL DINING & FAMILY ROOMS, TENNIS COURT, BALLROOM AND MUCH, MUCH MORE!
Exclusive must-see listing! Impeccably maintained 1.73ac+/- Tudor-style estate constructed with 19th century detail craftsmanship. The expansive 10,510sf+/- home and 1,800sf basement includes 6bds/8full & 4 half ba plus 2bd/1.5ba guest house has undergone multi-year renovation & extensively modernized/updated! The gated property offers many distinguishing & custom architectural features including beautiful antique oak flooring, paneled walls, lead glass doors, marble fireplaces, detailed crown moldings. cherry wood library, English pub,4500 bottle wine cellar, safe room, finished attic, addtl upstairs family room, 2 staircases, extensive outdoor lighting & sound, professional landscaping w/formal gardens w/ four season color & fruit trees, swimming pool & spa, 2 large terraces, rear service alley.Near 101 & 280 freeways, SFO & San Francisco. Adjacent 0.687ac +/- lot (65 Bridge Rd) is also for sale. Adjacent lot only available for sale after property (119 Bridge) has been sold.
This 11,375 SqFt lot in Old Palo Alto represents a tremendous opportunity to build the home of your dreams in the most sought after neighborhood in Palo Alto. Located on the west side of Bryant near Coleridge, this lot is proximate to the best Palo Alto has to offer in terms of community amenities, schools, and shopping. Frontage is 65 feet, wider than standard.
DAR SAHRA'' A palatial milieu sits along the Gold Coast of The Vintage Club. Once in a lifetime a person comes across a home that is the most fabulous and unique piece of art and structural design. It is here at The Vintage Club in Indian Wells. This exciting and exquisite mansion that took three and a half years to build by Gerry Langlois Construction under the watchful eye of Beverly Hills architect, Bob Ray Offenhauser and decorator, John Cottrell. Through the years of purchasing furnishings abroad, the rooms of this home are a study of magnificent taste. From the marble floors throughout to the gorgeous gold tiled dome with Italian Murano Alabaster chandelier that greets at the entry. From the entry and beyond you will see Mother of Pearl estate armoires and mirrors. Left of the entry hall is an interior atrium with reflection pool and a custom designed stain glass ceiling. Hand-carved arches surround the rooms that have custom made furniture upholstered luxurious silk.
Welcome to Montecito paradise. This estate boasts 43,000 sqft of luxury living on 20 acres with mountain and ocean views. This grand Mediterranean-style mansion features 7 bedrooms, 9 bathrooms, formal dining room, gourmet kitchen, breakfast room, family room, library, 5,000-bottle wine cellar and tasting room, 15-seat movie theater, gym, spa, lounge, a disco/ballroom that can accommodate 200 people, and a separate guest wing. Complementing the main house are two 2-bedrooms guest suites, a club house, a pool house, a helicopter hangar, and a 4 car garage plus external parking for up to 100 cars. The beautiful grounds feature private polo field, swimming pool, horse stable, a helipad, putting green, driving range, duck ponds, and many more. This one of a kind compound is truly world class.
Outstanding opportunity for new construction. Approximately 5 acres. Can be sub-divided into 2 parcels; for possible third parcel, buyer to check with the town of Los Altos Hills. MDA: 69,939 square feet. MFA: 28,677 square feet. LUF: 4.8. Seasonal creek bridge entrance leads up to the knolltop position with sweeping western hill views. Existing home and detached studio. One-half mile to Highway 280 for access to Silicon Valley or San Francisco tech centers. 3.5 miles to the Los Altos Village and to California Avenue in Palo Alto for shopping and dining. Excellent Palo Alto schools: Nixon Elementary, Fletcher Middle, Gunn High.
A mansion of your dream to be built on two lots (Home not yet built) One of the very few remaining premium gated cul-de-sac custom home lots, Renaissance Estates is ready for you to build a mansion of your dreams. This plan has balcony with the courtyard you can see the amazing views of the Mt. Baldy and Cleveland National Forest as well as the views of the city is located slightly above the smog level. This truly is the best remaining lot for luxury and privacy in a rare form. Other plans considered Architectural Styles: Mediterranean (Italian Villa/Italianate), Tuscan, Andalusian, and Santa Barbara. Build your dream home in this very posh, secluded private community. You will absolutely fall in love with this community. Come check it out! No Mello Roos!
Located on a rare 1.43 acre lot (per county) in the prestigious Circus Club area of West Atherton, this incredible and private parcel offers endless possibilities for architectural creativity and a grand, custom-built estate. With access from two different directions, your dream home can accommodate a flexible orientation with a formal facade and a separate motor court entrance. This property is undeniably one of the best opportunities to enter this world-renowned community, nestled in the epicenter of Silicon Valleys technological hub. In this prime location, youll be mere moments away from Menlo Circus Club, esteemed Menlo School and Sacred Heart Schools, vibrant downtown Menlo Park, and esteemed Sand hill Road venture capitalists. Visit www.226Park.com for a virtual tour!