This is a market that sometimes brings out the creative forces in real estate. And more and more, real estate exchanges are making lots of sense in the luxury real estate market.
Earlier this evening, I had an interesting conversation with a Sotheby’s real estate agent in Northern California.
It seems he is interested in exchanging his exquisite 104 acre property just outside Carmel for a luxury home in Rancho Santa Fe, just outside San Diego. His acreage offers 380 organic citrus trees that supply local restaurants, two greenhouses that produce basil for Whole Foods markets, Zinfandel grape vines that go you-know-where, and a number of fat and field-fed Angus cattle. He also has plans for an exquisite Tuscan villa that might be built for $1.5 million.
He is seeking to move to Southern California, and to Rancho Santa Fe in particular. And knowing that Rancho Santa Fe property owners love privacy, space and quiet, he thought that perhaps an easy and compatible exchange might be accomplished.
The numbers are certainly workable. He owes less than $800,000 on this parcel, in which he has invested nearly $3 million. He is seeking a Rancho Santa Fe home valued at $1.5 to $2.8 million–and may or may not be accomplishing the transaction via a 1031 exchange.
Quite simply, Northern California landowner wishes to relocate to Rancho Santa Fe and figures that some homeowner there would love the opportunity to exchange properties with him.
Makes sense to me.
So, if you have a Rancho Santa Fe home and have dreams of a bucolic life outside Carmel and California’s premier wine country, please let me know and I’ll arrange for a proper introduction. Just give us a call at 877-818-81979 or 760-402-9101.
And if you have an unusual luxury home exchange proposal of any sort, we’d also like to hear from you!
