fbpx

Del Mar Sale

Yesterday we closed escrow on our sale of 12911 Biscayne Cove in Del Mar!

I suggested our initial list price of $1,495,000, based on these recent sales:

The Barbados sale was off-market so we don’t know if that was high or low, so I didn’t use as a price gauge.

Though a list price in the low-to-mid $1,400,000s might have been more appropriate, there weren’t any other houses for sale nearby that were priced lower so I’m going to push it and see what happens over the first few days. We had a parade of buyers – 32 showings in the first 17 days on the market – yet no offers.

Originally I thought we’d see a steady flow of retirees flocking to this one-story home, but 31 of the 32 showings were to young families. Del Mar schools are the best, and while the 1,518sf was mentioned in the listing, I think the lack of other homes in this price range caused these buyers to check it out just to see if they could find a way to fit in a smaller home.

After 11 days on market, the 2,542sf Boquita house listed on the range $1,300,000 – $1,399,000, which crushed my chances of getting more. We lowered our price to $1,388,000 a few days later to stay in the game, and after a couple of weeks, we found a single guy to buy it for $1,344,000.

I found great joy in finding out that the seller had read bubbleinfo in the beginning, and it was one of the reasons why he left Michigan before the crash.  Now he and his lovely bride are off to Boise, Idaho to be near the grandkids!

https://www.zillow.com/homedetails/12911-Biscayne-Cv-Del-Mar-CA-92014/16765774_zpid/

Del Mar Heights Update

For those of us who were pushing hard to find the bottom of the retail range in Del Mar’s 92014 zip code, this was the listing that toppled over everyone’s dominoes.

This house is six doors down from the one I sold earlier this year for $2,157,000, so the value-range pricing of $1,300,000 – $1,399,000 seemed extremely aggressive at the time. Heck, when they listed, I had a 1,518sf active listing over the crest of the hill with freeway noise priced at $1,495,000!

I expected the house to be a disaster, but it looked like the typical old funky Del Mar Heights professor home that were sprinkled throughout the area.  When this was built in 1977, it was probably a fine example of a custom design of the era.

It did close for $1,475,000:

Del Mar One-Story With View

Our new listing of a gorgeous one-story home west of the I-5 freeway in Del Mar!

This is the primary residence of a long-time custom-home builder, and it shows!  There are several high-end finishes throughout the home, including the craftsman front door, deluxe custom kitchen with breakfast bar, hardwood floors, and a terrific master bath bathed in natural light!  Custom fireplace, dual-pane windows, and interior laundry room too. Enjoy the 8,600sf lot with sparkling pool, herb garden and pano easterly views day and night – wow!

12911 Biscayne Cove, Del Mar 92014

3br/2ba, 1,518sf  YB: 1972

LP = $1,495,000.  (we represent the sellers)

https://www.zillow.com/homedetails/12911-Biscayne-Cv-Del-Mar-CA-92014/16765774_zpid/

Del Mar Estate Wrap-Up

At the time of this auction in 2010, it seemed unbelievable that anyone would pay $4 million (plus 10% fee) for any lot – and these auctioneers couldn’t convince anyone else to get close.

But in the end, Mr. Palmer got the last laugh when his 10-year odyssey ended last month with the sale of the 6,580sf home he built here for $18,000,000 cash:

https://www.realtor.com/realestateandhomes-detail/2160-Balboa-Ave_Del-Mar_CA_92014_M19991-23463

Bill Hits The Beach

The six-bedroom home spans about 5,800 square feet, according to the listing. It has a 10-person Jacuzzi overlooking a fire pit, a long oceanfront deck, limestone flooring, and a swimming pool.

Mr. Gates, one of the world’s richest people and the co-founder of Microsoft, has been in the public eye recently due to his early warnings about the global pandemic. This purchase adds to the couple’s already sprawling real estate portfolio, although Mr. Gates has historically treated his compound in Medina, Wash., as his primary home. In 2014, he also bought weight-loss guru Jenny Craig’s Rancho Santa Fe, Calif., equestrian estate for $18 million.

Link to Listing

Pin It on Pinterest