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Monday, January 5th, 2009 at 9:13 AM

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

Posted on Monday, January 5th, 2009 at 9:13 AM in Local Flavor | 16 Comments » | Print Print You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Reader Comments: 16 Responses

  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.) :)

    Kwaping | January 5th, 2009 at 9:47 am

  2. A fool and his money are soon parted.

    Chuck Ponzi | January 5th, 2009 at 10:31 am

  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.

    arizonadude | January 5th, 2009 at 11:35 am

  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.

    Downturn | January 5th, 2009 at 12:03 pm

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

    OCVulture | January 5th, 2009 at 12:21 pm

  6. What a bargain!

    shadash | January 5th, 2009 at 12:26 pm

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

    GeneK | January 5th, 2009 at 12:47 pm

  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.

    Rob Dawg | January 5th, 2009 at 1:55 pm

  9. Jim, Here’s a $50M property that trumps your little $20M property.

    Maybe you can sell ‘em both?

    http://www.sdlookup.com/MLS-090000670-2928_Camino_Del_Mar_Del_Mar_Ca_92014

    SD_Coastal | January 5th, 2009 at 3:12 pm

  10. 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.

    CA renter | January 5th, 2009 at 3:33 pm

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

    GeneK | January 5th, 2009 at 3:41 pm

  12. The Del Mar $50M sold for $10,850,000 cash in May 1999. I think that’s a 361% return!

    361/10 years = 36% appreciation per year.

    A Carlsbad oceanfront owner told me once that his house has doubled in value every seven years, so I guess that’s about the same.

    I like Steve Finley’s house better, and only $21,500,000:

    http://www.sdlookup.com/MLS-080055149-2502_Ocean_Front_Del_Mar_Ca_92014

    Jim the Realtor | January 5th, 2009 at 5:36 pm

  13. 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.

    Dwip | January 5th, 2009 at 6:00 pm

  14. 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.

    arizonadude | January 5th, 2009 at 6:08 pm

  15. 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.

    Tex | January 6th, 2009 at 1:41 am

  16. Tex,

    Funny!

    JAP | January 6th, 2009 at 10:33 pm

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