Higher-End Isn’t As Hot

by | Dec 30, 2012 | Bubbleinfo TV, Del Mar | 6 comments

While the talking heads of the media will point to the increased median sales price and declare that “prices are going up”; all you have to do is look at some of the tonier parts of town to find contrasting data.

For instance, how about Old Del Mar:

6 Comments

  1. Another Investor
    Another Investor on December 31, 2012 at 7:11 am

    That is one of the most poorly laid out houses I have ever seen. Small rooms, odd angles, and most of the bedrooms in the basement. The decor is appalling, or should I say “taste specific.” I don’t think it will sell unless a big discount for a complete redo is baked in.

  2. Jim the Realtor
    Jim the Realtor on December 31, 2012 at 12:41 pm

    It’s ‘custom’.

    They paid $3.6 in Jan, 2006.

  3. profhoff
    profhoff on December 31, 2012 at 12:55 pm

    I’m inclined to agree with “Another Investor.” The house looks a bit creepy, it will not be cheap to redo the kitchen so it’s less “custom” and the basement is just a deal-killer in that price point.

    Plus, how long will that sliver of ocean view last? Someone could build something to block it, right?

    The location is awesome, but for $2.5+ million, I think people expect more than just square footage.

  4. Baudelier
    Baudelier on December 31, 2012 at 11:28 pm

    I like the house and, I don’t think it would be too hard to remove the umm, unique decor choices of the previous owner.

    Refinishing the kitchen cabinets is a straight forward process that, speaking from personal experience, even a novice do-it-yourselfer could handle.

    As for the master bath wallpaper, well, changing that is tedious but, also strait forward.

    I will give you that the price is pretty steep and, I would have recommended to the owner that changing the kitchen cabinet and master bath wallpaper to a more neutral finish would help sell the property.

  5. Susie
    Susie on January 1, 2013 at 1:08 pm

    The location is amazing! You can hear the waves! But that’s all I liked about it.

    I don’t disagree with you often, JtR, but without a huge price drop, I don’t think it’s gonna sell. Let’s see who’s right on this particular home. I’m guessing it will go for $1.995 million…

  6. Jim the Realtor
    Jim the Realtor on January 1, 2013 at 9:14 pm

    But $2.5 million is starter-home entry level for this neighborhood.

    P.S. The 5 br/6 ba 7,304 sf Del Mar Castle built in 1926 on 2 acres across the street was sold by Tony R in 1998 for $2,100,000. It was on the market for six months, on the value-range $2.5 to $3.4.

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