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Posted by on Jan 5, 2009 in Local Flavor | 16 comments | Print Print

Carlsbad Oceanfront for $20M

This 3:44 minute video is a brief tour of downtown Carlsbad on the way to see a house for sale at $20,000,000 – if you want to buy it, call me!!:

Links to stuff mentioned in video:

Jerry Buss, owner of the Los Angeles Lakers: Lakers’ Website
Carlsbad-By-The-Sea Retirement Community: Link
$20 million house website: Link to Photos
Army & Navy Academy: Link to Website

16 Comments

  1. The website for the $20M home sucks, but the place sure does look nice. Maybe not $20M, but very nice. While there are still people around with lots of money, the rich don’t stay rich by making bad financial decisions. (There are always professional athletes though.) :)

  2. A fool and his money are soon parted.

  3. That seems pretty ridiculous to me.I could think of a lot better ways to invest 20 million bucks.No wonder people are leaving california.

  4. It’s been said that a house is not a home. This one says that in spades. “Sterile” is the word that comes to mind from the photos.

  5. I would recommend having them check for crabs when doing the termite inspection.
    Nice Crib!

  6. What a bargain!

  7. If it doesn’t sell and they decide to part it out, I might be interested in the kitchen cabinets.

  8. Ummm “want” to buy? No concern about “able” to buy?.

    My only thought is why not Oxnard Shores for 1/8th the price?

    I can get you a dozen of these for $2-3 million.

  9. If you look at the sales histories of the coastal listings on the market right now, it looks like a swarm of specuvestors hit the coast a couple of years ago and some are now trying to get double or triple what they paid **at the peak of the market.** Others are asking a mere $400K+ “profit” after holding the property for a year or two in a down market. I get the feeling very few of these specuvestors will be able to hold on for much longer. Might be a few good deals in the next couple of years as these high-end flippers get washed out — and there are LOTS of them.

  10. My guess is that still doesn’t mean I’ll get a shot at those cabinets…

  11. I’m not sure that $10M+ oceanfront properties react like the rest of the market. Despite all the crap that the NAR regularly spouts, they really aren’t making any more oceanfront land. On the other hand, from my vast experience of the filthy rich (ahem) I suspect they keep a higher than usual fraction of their wealth in financial securities, and we all know how those have done recently.

  12. Couldn’t you buy a country for 20 million?Lets put it into simpler terms.I could buy ~ 200 homes for cash in az right now.something seems a little out of whack here.

  13. How to price your CA oceanfront “estate”
    1) Throw dart.
    2) Multiply the resulting number by three (‘cuz it’s lucky)
    3) Add 6 zeros.

  14. Tex,

    Funny!

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