There are 28 houses for sale in Rancho Santa Fe, 92067 between $7 and $30 million. There has only been one sale this year over $7 million, which was $7.8 million and you can see it here: http://www.previewfirst.com/mls/video/18745
Here’s one of the 28 for sale, and just what everyone needs – a 15,235sf new house on 5.44 acres in the Covenant…..with its own cabernet sauvignon vineyard:
Wonder what WF’s holding cost is for electric, water and landscape? Hopefully they will quickly find someone with big bucks who does not mind living down in that canyon.
Hi Jim
It may be a little off topic, but I wonder what happened actually to the trammel crow bluwater-crossing condo project near the poinsettia coaster station. Did they sell something & is pricing more reasonable ? An update would be cool (if it fits into your schedule of course 🙂 )
I had an idea what to do with the place, but that line of business isn’t legal in California.
However, if it were in Nevada… 😉
Wells Fargo paid property taxes on this house of $114,576.58 last year. The Governator thanks you.
A $15 million dollar spec house in RSF? How many possible buyers could there be in any given year; single digits maybe???
It is a very nice looking home, so someone will probably get a deal.
The home theater didn’t look that large, maybe it was the lighting.
The owner will get a workout just walking around the place.
What a great property. Crazy to hear the story of its history.
I did a double take / rewind on the giant chess board… ???
Very snazzy, but way too many stairs. You’d also need full-time cleaning and landscaping crews just to keep up with it! Holy smokes, that’s a lot of work!
Cost to built this monster is likely $5mm+ for construction/plans/landscape/sitework/permits (excluding interest and project overhead).
Thus, if they get the price down into the +/-$6mm range someone will be doing nicely and willing to put up with the wierd levels/stairs.
At $6mm you are getting the land for apx $1mm which is pretty good in the Covenant.
If I lived in that house, I’d never visit some of those rooms. I’d need a map to keep reminding me.
“It may be a little off topic, but I wonder what happened actually to the trammel crow bluwater-crossing condo project near the poinsettia coaster station. Did they sell something & is pricing more reasonable ?”
I’ve been loosely following this project for several years. Toured a few of the units, signed up for opening and sales info., etc. Trammel Crow has basically mothballed the project regarding sales. I received an email from one of the real estate agents sitting open house many months ago that all sales has been suspended. A lower price strategy was never attempted, but in the course of talking to one of the agents they did say they would entertain offers, but I don’t believe anyone negotiated any low ball sales. I don’t think any units ever closed, or very few ever did and were perhaps limited to the townhome section elevated over the exclusive retail sales units. A brief google search produced results suggesting they have gone the rental route with units going from $1925 – 3175 monthly (without and with the ground floor retail space). Personally, I liked the general concept, but there were things they could have done much better – general site/unit orientation, parking, storage, outdoor private space, community space, general security, etc.
I am currntly at a new job were we have 3 people working out of one (large) house (until office space is finsihed being built out)
But I can see how one (maybe a two man trading firm etc) could buy this sort of house and work from home. Have a couple employees come there to work.
I imagine this is probably a pretty common set up (like what I am doing now). It actually works out pretty well.
LM, are you in residential construction/remodeling?
Wow! Thanks for the tour. I agree that the kitchen seems small for such a large house. And even the outdoor kitchen with BBQ seems small for hosting a mid size party (i.e. 50 guests).
Sol, thank you very much for the in depth info.
To be honest I am really curious what their exit strategy will look like.