It’s kinda like someone who spent 50k passionately customizing their 9 yr old Honda civic and then trying to sell it for 100k. This guy has too many emotions rolled into the price of this property.
Excellent analogy. I knew someone who did just that, not a Civic, but a nice car though. Spent a ton of cash on it and a few years later sold it for about a third of what he put into it
Doug Manchester the previous owner just sold another property in La Jolla ‘Foxhill Estate’ for $35m in April. He was also owner of the grand Del Mar resort. Now the Fairmont Grand Del Mar.
I was just in front of this on the beach an hour ago swimming with leopard sharks. I saw it staged a few weeks ago with all the lights on as the sunset. Quite impressive- not my style but impressive.
I was thinking the exact same thing as far as nit my style but still impressive. I'm more of a modern kind of guy but this house still looks pretty cool. Not worth the price tag lol but nice
@@erique_k French and Baroque styles will come back. The modern white looks appeals to the masses. It looks nice to most people now. The 1% is starting to get tired of the style, as a way of being different these palacial style homes can be worth it as a status symbol.
Aside from the architecture of the Sand Castle house, my main concern would be the stability of the ground it is placed upon, being seaside and on an elevation. A 100 million dollar home placed upon questionable foundations would be my main concern. I wonder if any engineering studies were done and are a part of the prospectus for this property?
So weird to me when such an expensive home is just accessible from a random street. Kind of a “come and get me” sign in my opinion. Yet wow what a beautiful home, can’t knock that.
I don’t think it is a tear down because the California Costal Comission won’t let you build that close to the water anymore. But it will have to be taken down to the studs and a team of really creative engineers will have to “open up the house“ without changing the floor plan because CCC has some really weird and lengthy permits once you change the floor plan. Maybe some rich Indian, Asian, or Middle East buyer wants it how it is now. It always pains me to see so much money go to waste on something that was never used.
I know that there’s a home in Del Mar that’s worth 55 million. I don’t believe any home in San Diego is worth over 80 million anywhere unless it’s on hundreds of acres
Love your work! I agree with most of your opinions on this EXCEPT Coronado is equal with LaJolla as far as location. Deason is 84 so waiting out for a buyer is classic senior mentality of living forever.
I think the seller will get what he is asking for - or more. Most likely, the buyer will be from the Middle East. If they are looking for gilded schmaltz on the ocean, this is it!
I live in Arizona close to you. Love all your videos. I look forward to them each week. You seem like a genuinely nice guy who provides entertaining and informative content. We share very similar tastes. I dislike this house even more than you do. The costs of homes in California in general are absurd, but this is an entire other level. But to be honest, does that price even really matter to a multi~billionaire? He could give it away and not really worry about it. The kitchen and exercise rooms are pathetic. I think the other house is much more esthetically pleasing. But everyone has their own tastes. That’s why Baskin Robbins has 31 flavors…. Keep making great content! BTW, did you finish your remodel?
@@johnswain7184 Cool hearing from another Arizona local! Thanks for your nice comment. And I agree with your thoughts. I did finish and sell that build. I’ve been meaning to do an update video on here but other priorities have gotten in the way lately.
Actually, I just flew back from Mexico, and I have seen beautiful homes in GDL- Guadalajara and P.V.-Puerto Vallarta. The condos in P.V. there are some on the beach and have a private beach for the tenants and their families. The high-rise condos have rooftop decks are nice with infinity pools looking over the bay. In GDL there are beautiful homes and very modern and the greenery there is nice. The pools at some of the homes for sale are just amazing. I give my props to the builders and designers there. Loved it in both cities.
Honestly, arguably the best part of the house's location is the water right in front of it. I live in sd and the cove in front of the house is an aquatic wildlife preserve with some of the best snorkeling in CA. Lots of leopard sharks and other cool fish, and green sea turtles every summer.
Regarding the kitchen, I agree it is less than I expected in a house that cost $60 million. However, the builder is a billionaire. He may very well have had live-in staff including a chef so he never expected to spend much time in the kitchen.. At a minimum, he probably hired caterers to do the cooking and serving for any party he threw. In any event, I agree that The Sand Castle will be viewed as a teardown among the community of buyers with such deep pockets. I also agree that it won't sell for $108 million.
Yes, very gaudy. Maybe, he’s pricing it high cause he’s knows it’s not gonna sell right away. He wants to be able to back down to what it’s really worth. Then the buyer thinks he’s getting a great deal. 🤷🏻♀️
I agree with everything you said about this one. There is not enough square footage for the ambitious style, and that lack of space makes the rooms really small for a castle. The dining room is the standout. The kitchen is not acceptable. I like the style of the office, but it's also too small. I bet the billionaire felt very cramped inside of this house.
More than likely it's listed at 108m to enable a tax write off of a lot of construction costs. I'm sure he would have paid the build costs via a corporation. As for the kitchen. It's not like he's making his own pancakes. It probably was an afterthought. Rich people have different priorities and unless you think like them you can't understand them.
its overpriced yes, your example at the end cements the point cleanly. i think the outside is rly quite nice, feature wise, with the hedge in front and making the best out of the cliff face in the back.
The Sand Castle is overpriced- your arguments are spot-on. Plus the kitchen and gym do look dated and pedestrian/out of place with the rest of the home’s “cozy but opulent” vibe. But I prefer the more imaginative, romantic, modernized baroque architectural style of the Sand Castle vs any of those clichéd, cookie-cutter BORING AF contemporary cubey cribs that look like cold, sterile office buildings infested with tacky, unimaginative douchebag rappers and tech bros 🙄🙄🙄
The place looks like it's going to end up in the ocean. I don't know why anybody would build on the cliff in California with earthquakes and the erosion in that state doesn't make sense
These home "replicas" have consistently struggled in any market. Finding a buyer will be as challenging as finding a needle in a haystack-tough one in my opinion not even talking about the price.
Great coverage of the property, I agree with every point, ugly, heavy, overpriced and I wonder what Costal Commission has to say about no access to the beach here, not to mention the recent sea levels and storms might me eroding the whole water front.
If the interior were completely redecorated with modern furniture and finishes it could look amazing on the inside. The outside should have that balustrade torn down and replaced with glass and remove some of the over the top stylistic features. Then I would like to live there. For $25M.
Bleeeccchh… that will make it look like every other boxy contemporary CA crib…such a cold, robotic, sterile aesthetic suited for people lacking any depth of imagination, creativity or emotion 🙄🙄🙄
you're spot on 1 it's ghastly and that's being kind. both the owner and agent are greedy. the best thing about this property is the front hedge wall on spindrift.
The exterior looks like a hot mess in my opinion. There is nothing remotely like Versailles in this home. The only thing i liked was the hedge wall blocking the view of the home from the street. That kitchen is the size of a kitchen for a 3 to 5000 sq ft house and the layout is almost unworkable. A caterer would turn tail and run if he had to fix dinner for 30 in that kitchen. I cannot imagine anyone is going to want this place for that price or any other price for that matter. Im with you it will either be a tear down or a total gut job renovation. Sad.
If this property were in Beverly Hills, or Malibu, or even Newport Beach, it might get closer to that asking price, but San Diego, and no water access? Even in these areas I don't think it merits that price tag. I also think it's a home that comes with a lot of risks being on a cliff, but it is a beautifully thought out home, except that absolutely horrible kitchen!? WHY!?👍✌🗽New sub, HAPPY NEW YEAR to You & Yours!✨🎼🎊🎶🎉🎵🎆
Man, as a french parisian Guy, i Can tell you straight UP, there's NOTHING french, from that house, NOTHING...thé dude got scamed from thé designer ...😂😂😂
Are we ignoring the fact that it’s… FALLING IN THE OCEAN! Give it 2 years, it will be on the news for a totally different reason. Then you will get a really big discount lol
The contemporary house you compared in the video is not nearly the same land value ... and never will be. It's the biggest most expensive house in a so so neighborhood
My guess is while out on his boat, word on the ocean is that the tides are rising. Waterfront properties have become a liability. Sell. Sell. Sell...... That's just my 2 cents.
Yeah you can already see that the ocean is becoming a liability at 5:49. If this house was entirely on a cliff like some other houses on the California coast it would be a easy sell, but everyone knows this house is about to lose the lower part of it in a few years
This house is so gaudy and horribly appointed, no idea who would pay 100+ for what would need to be an entire remodel Edit: after watching the video, I agree..this is a tear down and I would much rather live in Coronado instead of La Jolla aka the Scottsdale of SD (douche city)
Definitely overpriced just for the sake of it, I don't think they're really expecting an offer anywhere around this price point. I'm not familiar with the market and style of La Jolla, but I do know there are some people who would appreciate this style and finishes. I'm personally not a fan of this style, but it's well-executed.
This is my favorite real estate news channel
That means a lot!
fax
Scott is the best at breaking down interesting real estate topics!
Arvin is better @@industrialize
Im saying it sells for less than 50 mil.
When its easy to find out the guy spend 60mil building it a year ago, no one is paying over 100 for that! he would be lucky to get his money back.
It’s kinda like someone who spent 50k passionately customizing their 9 yr old Honda civic and then trying to sell it for 100k. This guy has too many emotions rolled into the price of this property.
🎯
Excellent analogy. I knew someone who did just that, not a Civic, but a nice car though. Spent a ton of cash on it and a few years later sold it for about a third of what he put into it
A think people put dos enormous prices for cloud.
I really like that giant Bush wall along the street, so much better than a concrete wall.
Me too. You don’t see much of that out here in AZ. Everything dies in the summer 😢
@@Real.Estate.Report You could do an amazing oleander hedge in AZ. The less you water them the more they bloom. Insane plant for AZ
@@ArisAlexiou that’s true the oleanders do pretty well
Doug Manchester the previous owner just sold another property in La Jolla ‘Foxhill Estate’ for $35m in April. He was also owner of the grand Del Mar resort. Now the Fairmont Grand Del Mar.
I was just in front of this on the beach an hour ago swimming with leopard sharks. I saw it staged a few weeks ago with all the lights on as the sunset. Quite impressive- not my style but impressive.
Wow that’s awesome!
I was thinking the exact same thing as far as nit my style but still impressive. I'm more of a modern kind of guy but this house still looks pretty cool. Not worth the price tag lol but nice
Tear down for sure! Buyer pool for this kind of "Mansion" is so small, if he gets over 30 million i would be surprised!
Saudis would love it.
Keep in mind that with this property you're primarily paying for the location.
@@Libertaro-i2ubut it isn't even a absolut prime location.
lol that litter box comment was fire
F.Y.I. Haitian Staff eat cat!
@@JamesMiller-lq5rd goof ball
10 bedrooms. 17 bathrooms. 1 giant litter box.
@ 🥹😅🤣
The kitchen is so brutal 🤣
The palace is truly amazing!
The style is beautiful and timeless especially to older people who are billionaires.
Definitely a timeless style.
Maybe the Saudis.
@@erique_k French and Baroque styles will come back. The modern white looks appeals to the masses. It looks nice to most people now. The 1% is starting to get tired of the style, as a way of being different these palacial style homes can be worth it as a status symbol.
Aside from the architecture of the Sand Castle house, my main concern would be the stability of the ground it is placed upon, being seaside and on an elevation. A 100 million dollar home placed upon questionable foundations would be my main concern. I wonder if any engineering studies were done and are a part of the prospectus for this property?
Yes, isn’t there an old saying about the dangers of building castles in the sand?
The way you put everything in perspective is great !! I honestly would go for the 37m property..
Thank you, glad you’re enjoying the videos!
So weird to me when such an expensive home is just accessible from a random street. Kind of a “come and get me” sign in my opinion. Yet wow what a beautiful home, can’t knock that.
At least it's private from the street.
I don’t think it is a tear down because the California Costal Comission won’t let you build that close to the water anymore. But it will have to be taken down to the studs and a team of really creative engineers will have to “open up the house“ without changing the floor plan because CCC has some really weird and lengthy permits once you change the floor plan. Maybe some rich Indian, Asian, or Middle East buyer wants it how it is now. It always pains me to see so much money go to waste on something that was never used.
It’s epic looking thooo
I know that there’s a home in Del Mar that’s worth 55 million. I don’t believe any home in San Diego is worth over 80 million anywhere unless it’s on hundreds of acres
I live here and the house doesn't really fit the theme of style of homes here in SD
Seems that way to me too
Hence the hedge screening the property.
@@BillyLapTop This hedge is possibly the best part of it...
@@einatblackrose The hedge does have a great reveal when looking into the driveway.
Love your work! I agree with most of your opinions on this EXCEPT Coronado is equal with LaJolla as far as location. Deason is 84 so waiting out for a buyer is classic senior mentality of living forever.
8:25 30 miles north or 9.9 miles?
I think he meant to say 30 minutes
I think the seller will get what he is asking for - or more. Most likely, the buyer will be from the Middle East. If they are looking for gilded schmaltz on the ocean, this is it!
I live in Arizona close to you. Love all your videos. I look forward to them each week. You seem like a genuinely nice guy who provides entertaining and informative content. We share very similar tastes. I dislike this house even more than you do. The costs of homes in California in general are absurd, but this is an entire other level. But to be honest, does that price even really matter to a multi~billionaire? He could give it away and not really worry about it. The kitchen and exercise rooms are pathetic. I think the other house is much more esthetically pleasing. But everyone has their own tastes. That’s why Baskin Robbins has 31 flavors….
Keep making great content! BTW, did you finish your remodel?
@@johnswain7184 Cool hearing from another Arizona local! Thanks for your nice comment. And I agree with your thoughts. I did finish and sell that build. I’ve been meaning to do an update video on here but other priorities have gotten in the way lately.
Actually, I just flew back from Mexico, and I have seen beautiful homes in GDL- Guadalajara and P.V.-Puerto Vallarta. The condos in P.V. there are some on the beach and have a private beach for the tenants and their families. The high-rise condos have rooftop decks are nice with infinity pools looking over the bay. In GDL there are beautiful homes and very modern and the greenery there is nice. The pools at some of the homes for sale are just amazing. I give my props to the builders and designers there. Loved it in both cities.
Honestly, arguably the best part of the house's location is the water right in front of it. I live in sd and the cove in front of the house is an aquatic wildlife preserve with some of the best snorkeling in CA. Lots of leopard sharks and other cool fish, and green sea turtles every summer.
Regarding the kitchen, I agree it is less than I expected in a house that cost $60 million. However, the builder is a billionaire. He may very well have had live-in staff including a chef so he never expected to spend much time in the kitchen.. At a minimum, he probably hired caterers to do the cooking and serving for any party he threw. In any event, I agree that The Sand Castle will be viewed as a teardown among the community of buyers with such deep pockets. I also agree that it won't sell for $108 million.
It is a Door Dash, Uber Eats kind of home.
I agree with all your comments and observations.
Some of the arches in the architecture of The Sandcastle is giving me “Cher Malibu Compound” vibes.
it's very gaudy but i would take it off his hands for 1 million.
Just one little earthquake away from ...
Yes, very gaudy. Maybe, he’s pricing it high cause he’s knows it’s not gonna sell right away. He wants to be able to back down to what it’s really worth. Then the buyer thinks he’s getting a great deal. 🤷🏻♀️
@@juliebaird9946 you might be right
Why the additional 8 million in the price tag? Why not just $100 million ?
Good question… here’s my guess…. He wants to net $100 million even. If it sells for $108 million, the $8 million covers commissions and closing costs.
Commissions, I see people do it all the time even on residential listings
@@johnnyarellano7653 might have significant meaning
Attract Asian buyers, 8 is lucky
Because some people are so poor all they have is money
I agree with everything you said about this one. There is not enough square footage for the ambitious style, and that lack of space makes the rooms really small for a castle. The dining room is the standout. The kitchen is not acceptable. I like the style of the office, but it's also too small. I bet the billionaire felt very cramped inside of this house.
A comp would be the next door neighbor for $20m which is also a tear down. 1890 Spindrift.
That's money baby.
The house is beautiful looking at least the interior
More than likely it's listed at 108m to enable a tax write off of a lot of construction costs. I'm sure he would have paid the build costs via a corporation.
As for the kitchen. It's not like he's making his own pancakes. It probably was an afterthought.
Rich people have different priorities and unless you think like them you can't understand them.
count me as another who much prefers the 3 The Point property for 1/3 the price
You did! And we agree! We think alike.
Rich people call it "a ripper" lol
It’s a great place for old people.
Every time I hear a rich person say they designed it to look like Versailles, I gag! It just screams tacky trump tower.🤢🤮
Yes do Arvin type videos
its overpriced yes, your example at the end cements the point cleanly. i think the outside is rly quite nice, feature wise, with the hedge in front and making the best out of the cliff face in the back.
Ah, the absurdity of life. Amazing!!!!!!
😂😂😂😂😂
Brass plaque at the street entrance says...
(Spoiler?)
Villa Pelagia.
I like that better than Sand Castle.
No Giant Water Slide?
The Sand Castle is overpriced- your arguments are spot-on. Plus the kitchen and gym do look dated and pedestrian/out of place with the rest of the home’s “cozy but opulent” vibe. But I prefer the more imaginative, romantic, modernized baroque architectural style of the Sand Castle vs any of those clichéd, cookie-cutter BORING AF contemporary cubey cribs that look like cold, sterile office buildings infested with tacky, unimaginative douchebag rappers and tech bros 🙄🙄🙄
When are we getting an update on your build?
The place looks like it's going to end up in the ocean. I don't know why anybody would build on the cliff in California with earthquakes and the erosion in that state doesn't make sense
La Jolla is one of the most beautiful areas in San Diego County! 100% better than Coronado!
Peter Griffin would say... It insists upon itself.
These home "replicas" have consistently struggled in any market. Finding a buyer will be as challenging as finding a needle in a haystack-tough one in my opinion not even talking about the price.
Great coverage of the property, I agree with every point, ugly, heavy, overpriced and I wonder what Costal Commission has to say about no access to the beach here, not to mention the recent sea levels and storms might me eroding the whole water front.
I think the house is pretty nice but he's not getting $100 million or anywhere near that...
Security would be a huge issue for me. Anyone passing on the beach or street, for a house of that price.
Interesting mansion. I'm not a huge fan of the kitchen or the work out room really.
If the interior were completely redecorated with modern furniture and finishes it could look amazing on the inside. The outside should have that balustrade torn down and replaced with glass and remove some of the over the top stylistic features. Then I would like to live there. For $25M.
Bleeeccchh… that will make it look like every other boxy contemporary CA crib…such a cold, robotic, sterile aesthetic suited for people lacking any depth of imagination, creativity or emotion 🙄🙄🙄
You'd rather be in Coronado than La Jolla?.. Do you know SD?
I'd pay 108 mil just for that amazing hedge! I mean, if I had it....🤷♂
no idea how he got coastal commission to clear this
I think we all know it’s not going to sell anywhere near the asking price, if at all
If they keep it at that price it will sit on the market just like that Rancho horse estate.
you're spot on 1 it's ghastly and that's being kind. both the owner and agent are greedy. the best thing about this property is the front hedge wall on spindrift.
Wow, it stands out like a sore thumb. The story sort of reminds me of the megamansions (tm)) being sold with NFTs.
McMansion to the core!
fantastic house but built on a cliff overlooking the ocean. what could go wrong there!
The extra weight of the house on the cliff may be enough to send the house sliding into the sea. Then you have the world's largest house boat!
The exterior looks like a hot mess in my opinion. There is nothing remotely like Versailles in this home. The only thing i liked was the hedge wall blocking the view of the home from the street. That kitchen is the size of a kitchen for a 3 to 5000 sq ft house and the layout is almost unworkable. A caterer would turn tail and run if he had to fix dinner for 30 in that kitchen. I cannot imagine anyone is going to want this place for that price or any other price for that matter. Im with you it will either be a tear down or a total gut job renovation. Sad.
The more I watch these videos the more it looks like the chap that bought the one got a bargain.
Nuvo Winchester mystery House, the mystery is the price
It looks as if he lost interest in it, long before it was finished.
If this property were in Beverly Hills, or Malibu, or even Newport Beach, it might get closer to that asking price, but San Diego, and no water access? Even in these areas I don't think it merits that price tag. I also think it's a home that comes with a lot of risks being on a cliff, but it is a beautifully thought out home, except that absolutely horrible kitchen!? WHY!?👍✌🗽New sub, HAPPY NEW YEAR to You & Yours!✨🎼🎊🎶🎉🎵🎆
Is that the street right in front of the home 😂.
@@josephjohnson2387 yep
A middle eastern buyer might like the style, but it’s nowhere near enough square footage for that demographic.
*Given this mammoth "architectural abortion," the case can almost be made **_The Darwin Awards_** were named after Mr. Deason.* 🐒🏆
The owner is worth 8 BILLION, thanks for sharing your opinion, but really doesn't care!
Hopefully that cliff doesn't collapse.
Man, as a french parisian Guy, i Can tell you straight UP, there's NOTHING french, from that house, NOTHING...thé dude got scamed from thé designer ...😂😂😂
like La Jolla but not at this price where is my private island
Looks like Brady bunch furniture!
Are we ignoring the fact that it’s… FALLING IN THE OCEAN! Give it 2 years, it will be on the news for a totally different reason. Then you will get a really big discount lol
nothing like a bunch of columns in your way to block the view.
Don't think you know San Diego very well if you say "I know I'd rather live here than La Jolla."
The contemporary house you compared in the video is not nearly the same land value ... and never will be. It's the biggest most expensive house in a so so neighborhood
My guess is while out on his boat, word on the ocean is that the tides are rising. Waterfront properties have become a liability. Sell. Sell. Sell...... That's just my 2 cents.
Yeah you can already see that the ocean is becoming a liability at 5:49. If this house was entirely on a cliff like some other houses on the California coast it would be a easy sell, but everyone knows this house is about to lose the lower part of it in a few years
Get ready for the brutal take but: if i wanna go to disney land its much cheaper.
The Black Marble is hideous. I seriously don't know how you can see that and think class.
$4-5k sf max
Build for $60 millions and try to sell for $108 millions. I see why he wanted to sell. $48 milions reasons. I'll offer $50 milions. I love the style.
This house is so gaudy and horribly appointed, no idea who would pay 100+ for what would need to be an entire remodel
Edit: after watching the video, I agree..this is a tear down and I would much rather live in Coronado instead of La Jolla aka the Scottsdale of SD (douche city)
Just finished and Selling... OMG must be Global Warming?
tsunami and say goodbye to that
He’ll settle for 75 million lol
the Razor house is better
Definitely overpriced just for the sake of it, I don't think they're really expecting an offer anywhere around this price point.
I'm not familiar with the market and style of La Jolla, but I do know there are some people who would appreciate this style and finishes.
I'm personally not a fan of this style, but it's well-executed.
I'll take it for 1$
Sold!
@@Real.Estate.Report Love your videos ❤
TACKY
Dude, why are you so lazy put the spec of the mansion on description?
It would feel wrong to be in that bar without a Scotch and cigar in your hand
I will live in 37 mill house
This house is horrible. Total "goo-gaw" finishing. Exterior is so-so and the views are great. I like the custom sand in the giant litter box!
How come you didn’t me the obvious, it’s going to wash away
I mean this respectfully and earnestly - I think you could pull of the shaved head with facial hair look
Sand Castle is $22 mil all day... tear down it is