Crazy La Jolla priced house

[Eugene]

Now realistically, how many Brazilian businessmen can afford to give a million bucks to the U.S. government for the right to buy a $2m house in La Jolla? And wouldn’t those businessmen prefer a Mediterranean country? I’m not sure about immigration restrictions, but Italian or Portuguese real estate can’t be more expensive than La Jolla.

[Eugene]

Now realistically, how many Brazilian businessmen can afford to give a million bucks to the U.S. government for the right to buy a $2m house in La Jolla? And wouldn’t those businessmen prefer a Mediterranean country? I’m not sure about immigration restrictions, but Italian or Portuguese real estate can’t be more expensive than La Jolla.

[SD Realtor]

PK it is simply a commentary of out of touch sellers. It also is likely that they are having thier stubborn position cemented by the listing agent. It would not surprise me if they had several agents tell them the same thing. This is what it is and while it is unfortunate, it will not be remedied until sellers get through the denial phase which they are certainly sitting in now. Don’t sweat it… you have time on your side and eventually the home will sell or it will not and they will reprice.

SD Realtor

[SD Realtor]

PK it is simply a commentary of out of touch sellers. It also is likely that they are having thier stubborn position cemented by the listing agent. It would not surprise me if they had several agents tell them the same thing. This is what it is and while it is unfortunate, it will not be remedied until sellers get through the denial phase which they are certainly sitting in now. Don’t sweat it… you have time on your side and eventually the home will sell or it will not and they will reprice.

SD Realtor

[bsrsharma]

esmith: they don’t have to pay money to US government. They have to just structure the transaction such that it looks like an investment in US. There are companies that specialize in that. Like for e.g. set up a REIT that buys the house etc.. La Jolla is also nearer to South America than Mediterranean. Many South Americans own property in Miami. San Diego is well suited to become a western equivalent.

[bsrsharma]

esmith: they don’t have to pay money to US government. They have to just structure the transaction such that it looks like an investment in US. There are companies that specialize in that. Like for e.g. set up a REIT that buys the house etc.. La Jolla is also nearer to South America than Mediterranean. Many South Americans own property in Miami. San Diego is well suited to become a western equivalent.

[pk92108]

Thanks…..I was close to putting an offer in on the place in 2006, but the new remodel is just plain aweful with hideous bright red and light blue wallpaper..And the furniture looks like a bordello right out of New Orleans..(not that i would know personally…)
The story is someone bought the place then had to relocate, but it has the “staged” feel of a spec home with a near- sighted interior decorator..I would have to rip everything down to just feel comfortable….

I will just follow the price and see what happens…

[pk92108]

Thanks…..I was close to putting an offer in on the place in 2006, but the new remodel is just plain aweful with hideous bright red and light blue wallpaper..And the furniture looks like a bordello right out of New Orleans..(not that i would know personally…)
The story is someone bought the place then had to relocate, but it has the “staged” feel of a spec home with a near- sighted interior decorator..I would have to rip everything down to just feel comfortable….

I will just follow the price and see what happens…

[Anonymous]

Well, the house is still listed. Now down to $1,980,000. I actually like the decor, but there’s no way I’d pay over $1.2 for that size house.

[Anonymous]

Well, the house is still listed. Now down to $1,980,000. I actually like the decor, but there’s no way I’d pay over $1.2 for that size house.

[Anonymous]

Well, the house is still listed. Now down to $1,980,000. I actually like the decor, but there’s no way I’d pay over $1.2 for that size house.

[Anonymous]

Well, the house is still listed. Now down to $1,980,000. I actually like the decor, but there’s no way I’d pay over $1.2 for that size house.

[Anonymous]

Well, the house is still listed. Now down to $1,980,000. I actually like the decor, but there’s no way I’d pay over $1.2 for that size house.

[jpinpb]

Well, it’s priced close to 2006 price and in several months dropped half a mil. That’s not bad. Chasing down the market. Probably would’ve sold for 1.9 back in October.

I’ll post the same chart that I posted on the other LJ thread.

[img_assist|nid=8149|title=LJ Sales chart|desc=|link=node|align=left|width=100|height=72]

[jpinpb]

Well, it’s priced close to 2006 price and in several months dropped half a mil. That’s not bad. Chasing down the market. Probably would’ve sold for 1.9 back in October.

I’ll post the same chart that I posted on the other LJ thread.

[img_assist|nid=8149|title=LJ Sales chart|desc=|link=node|align=left|width=100|height=72]

[Author]

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