Nation’s highest Property Sales Price Reported in La Jolla

Situated in the beautiful coastline of the Pacific Ocean, La Jolla is home for luxurious and expensive houses, which according to some reports has the world’s fifth highest property prices. According to Susana Corrigan of Prudential California Realty, the highest priced property sale in La Jolla Real Estate market since 2009 is an seaside house located at 5960 Camino de la Costa that was sold for $11,550,000 in August. That 6000 square-feet La Jolla home features a large ocean frontage as well as a huge yard making it quite exceptional.

Agreeing with Corrigan that it is the highest price of the year, Coldwell banker’s branch manager Jeff Nunn was of the view that the high priced sale indicates the fact that the La Jolla real estate market has recovered to some extent, when it is compared with the previous year. Yet, prices of some properties are artificially lowered by the vendors to make those properties more attractive to the increasing number of people who are looking for La Jolla houses for sale.
He further stated that another high priced property is on its way to hit market. That is the house next to the famous Bird Rock home in which MTV TV series “The real World” is being shot.

As agent Maria Weiss of Coldwell Banker Del Mar stated in the press release, they would wait until the filming of The Real World is completed to offer the house for sale. Irene McCann of Coldwell Banker La Jolla, who is sharing the listing with Weiss, explained the reason. A Lot of bright lights are being used by the film crew, because of which it is not possible to showcase the house and the area in a natural manner to the potential buyers.

Individuals interested in La Jolla homes for sale can also consider the Chelsea Avenue house which is priced at around $ 7.5 million. It features five bedrooms, seven and a half bathrooms, 90 feet ocean frontage as well as around 6,700 square feet living space .

Another house up for sale is the seaside house once owned by Roger Revelle better known as the founder of UCDS and the father of the global warming theory. It was previously priced at around $14 million, but Linda Marrone, Coldwell Banker La Jolla has relisted it in their La Jolla MLS for $12.5 million in order to make it more competitive in the current market where the prices of a lot of houses are lowered. Changes have been done to the paints and window coverings while the house was off the market and now it is totally in top form.

It was built in 1922 by Rex B. and Grace Scripps Clark, who was the founder of the Detroit Evening News and niece of Ellen Browning Scripps and Eliza Virginia Scripps, two well known philanthropists in La Jolla. Since then it was owned by Scripps family. Revelle is the husband of Grace Clark’s daughter Ellen, who moved to it in 1947 after the house, was deeded to his wife.

With La Jolla foreclosures too available at much lower prices, it is obvious that the real estate market is becoming more and more competitive in the coming months.