The original list price in October 2008 was $15,900,000, but they had lowered it all the way down to $11,900,000 towards the end of 2009, and marked it contingent. I guess the bank didn’t like the package? Wells Fargo foreclosed last week, opening bid was $9,977,334:
Fifteen million “in the hole.”
In more ways than one! 🙂
How does one proceed to buy a property that’s much more expensive than a typical house? Does that class of property have its own class of real estate agents?
Agents deserve a $600,000 – $900,000 commission because it requires more effort & walking to show such a large house.
I saw a Home builder here in Aliso Viejo breaking up the development into micro phases ( 4 to 8 units per phase) to make it appear the demand are high with limited units and choices. The buyers are suckers paying those high price .
Does that class of property have its own class of real estate agents?
Yes, but the expenses are much higher too. Do you know what plastic surgery costs these days…?
But seriously, the other high-end REOs have been handled the same as condos in Oceanside; vacant lockbox – which is the way it should be.
Maximum access = better chance of selling for top dollar.
Yep, if I had that kind of money, I could live in a very nice house on the beach (although not as big). I’d rather do that than to live in a former quarry .
And that is a good question. When you are talking over 1/2 mil in commissions, how do RE agents handle those? I’ve seen listings in RSF listed by girls who look like they are fresh out of college.
Remember market time when looking at commissions. YOu may work for 2-3 years to get that 1 commission with a lot of cost along the way and maybe lose the listing during the process.
Would you rather sell 20 homes at $1mm each on the coast or risk it all on 1 $20mm listing….
And yes, why do you think hot girls out of college get listings from old timers in RSF, etc????????? If you were just listing high that no agent could get it sold, wouldn’t you rather have a nice short skirt coming around trying to make you happy and keep the listing???
It seems to me that Laura Barry & Company always have the big bombers. Take a look at the properties they have…nothing but the best. I look at their website a lot….because they have the top properties…the best of the best.
If you have a $50,000,000 listing right on the beach in Del Mar….I’ll say you’re doing something right.
“Property Description:
The “Hope Diamond” of estates! Spectacular half acre mansion on the Sand. This unique property was designed by famed architect Bob Ray Offenhauser for the founder of Architectural Digest-Colleen Knapp. The visual result is breathtaking. 5 full bedroom suites, media room, antique imported French fire mantels recently added, 500 year old windows from France, totally upgraded by current owner. Detached guest area with full kitchenette, gym/full workout room, authentic and grand gourmet kitchen…”
My favorite RSF property though is Rancho Los Arboles….16337 Los Arboles, 92067. Check out that house….that’s one of a kind.
The Barrys just seem to have all the big time properties…check out their ‘sold’ page….damn.
Was that a Sylvester home???
That is a nice house on Rancho Los Arboles….our house was sold by Barry Estates….
Yes it was. The home is beautiful. Although it’s set down in that valley, there is a lot of sun. It’s also quite unique in terms design.
The house and grounds are beautiful…but the floor plan is strange. There are too many levels….you get lost. But after a while, you get used to it and you begin to love it. It even has an elevator.
You do get a vineyard with a ‘wine’ house and the pool is spectacular. The theater is HUGE….I got to watch 15 minutes of Sponge Bob in there and it was unbelievable! The lot if huge….you can put anything you want down there.
I think the only thing that’s holding it up is the odd floor plan….it is strange. I hate the typical layout that is so emblematic of the RSF bubble….and while this one is actually original…it’s kinda strange.
Now let’s look at what Laura and her family has been selling.
2010: $15,000,000 (buyer & seller!)….$9,995,000…..$7,995,000…..$5,995,000 and about 5 others in the $3-4million range and some others below that.
2009: $21,500,000 (Del Mar)….$17,500,000 (Del Mar)…..$13,900,000 (La Jolla I believe)….$11,900,000 (RSF)…..$10,000,000 (Tuscan Estates, RSF)…..$10,000,000 (Roxbury Estates)….$10,000,000 (Rancho ocean view)….$7,995,000 (RSF)….another $7,995,000….and TEN sales under $5,000,000 with many in the $3-4M range.
2008: $19,900,000 (Rancho)….$16,900,000 (Golf course, RSF)…$15,900,000 (Del Mar Ocean)….$15,900,000 (Roxbury Estates….buyer & seller)….$13,995,000 (RSF)…$11,000,000 (RSF) and then a bunch under $10,000,000.
You get the picture. This family just makes a killing.
How are they so successful? You should check out some of their properties they’ve sold….in the words of Jim the Realtor….BIG BEAUTIFUL BOMBERS….haha.
Can we stop promoting other realtors here please?
“Rancho Los Arboles” is by far my favorite property in Rancho Santa Fe….well maybe it’s tied with four other ones that I love…haha.
Anyway, check out the VIDEO virtual tour! It’s a dream.
http://barryestates.com/Featured_Listings.html
I’m sorry, you can delete it if you want. I wasn’t promoting other realtors, or at least I didn’t mean to. I don’t have the kind of cash to buy their properties, haha.
I was just wondering why they get all the really expensive properties. Just my only personal curiosity.
I’m also curious why “Jonathan Mann” gets all the great deals at the trustee sale? Can you explain that? What does he do differently?
And believe me Jim, when it comes time for this 21 year old to buy a house or when I convince my parents to buy a house in Olivenhain/RSF and to sell their Leucadia house….you’ll be the first person we’ll call.
Just my personal curiosity…that’s all.
The taxes on that Del Mar house will be $50,000 per month (and rising) from now until eternity… literally.
Which is good, cuz my kid’s in that school district.
Feel free to delete my comment, Jim.
Fifty… THOUSAND?!? Per MONTH?!?
Eek!
Whats with the football goal posts around 1:49-1:50 and at the end. Charger kicker or??
Is that a yellow goal post in the yard?