One West Bank foreclosed on this home in August, 2010, but it looked like they let the former owner try to re-coup some of his $2,500,000 down payment - because he had it listed last summer for $5,200,000. But things didn't work out for him:
Here is the story about the former owner of the house - I don't know how his case turned out: http://ahharsfnews.com/2010/07/09/rancho-santa-fe-house-with-bonus-room-at-center-of-alleged-medical-marijuana-fraud-bust
The buyer got the bank to reduce the price by $100,000 after inspections (map). Final price was $1,050,000 for fixer on 2.31 acres that is walking distance to village:
You don't see too often - two quiet acres in the Rancho Santa Fe Covenant under $1,000,000. There were more defects to this property than were disclosed publicly:
Because of the BCS game, we have re-scheduled the Blog Talk Radio with Bill McBride of Calculated Risk to Tuesday, January 10th at 8pm. Join us with your questions and comments for Bill here at bubbleinfo.com!
From the wsj.com: Weight-loss guru Jenny Craig has sold her home near San Diego to her daughter and son-in-law for $6.1 million. It was listed for nearly $9 million last December. The 10,000-square-foot home sits on 3.4 acres in Rancho Santa Fe, about 30 miles north...
There aren't that many 2-acre parcels this close to the heart of the RSF village, so the walkability may have played a role in this sale. I think we'll see more liquidations of long-time owners throughout the region - expect to bring your tool box:
The Bancrofts are the former owners of the WSJ, and still own the Duke's old house in RSF too. This house has 10,651sf on 5.68 acres, listed for $6,995,000 (click here for map): http://www.sdlookup.com/MLS-110062313-6605_La_Valle_Plateada_Rancho_Santa_Fe_CA_92067
