Nice video! I wonder if all the views from this curious group (including me) are making the buyers nervous. Hope so 
I will admit that even with the video, the layout is still a bit confusing to. Last week I went way back in Flickr to find the plans, but still not sure I understand it. Is there any family room place, or just the living room / great room on main floor?
No other family room on main floor. Small family room on top floor
I had my agent load the floor plans to MLS but they are attachments that only afents can access
Love the video and photos. So many nice photos of your gorgeous views. Hope your hopeful buyers hurry in getting their financing together before it’s snatched up by another lucky buyer!
I hope two buyers get their offers in at the same time…and have to up,the price to get the house!
In my part of ca Zillow pulls from Mls and that is one of the reason my client want me to put her property in Mls. Obviously the property I am selling for her is not a “house”.
It is just so very nice. I just love it.
The video is great! The house looks gorgeous! In the video the living room does look smaller (but by no means small).
If anyone’s interested, I could give my non-builder’s impression of a walk through of the house. Not enough time now but I can do it later tonight.
Would love to hear it, @Marilyn
Hi all, just wondering where the jumbo loan amount starts in the SD area? Also, when folks are “working with their banks,” do they need to come up with a full 20% down? And what income level do these buyers need to be in, if they are only putting 20% down? Haven’t bought a house in over 25 years, so don’t really know how it works nowadays–and never bought one in this price range. Thanks
The jumbo limit in San Diego is $580,750.
“Working with their banks” probably means getting a pre-approval letter, which these days is pretty much required by a lot of sellers for a serious offer.
Financing 80% of the full price at current rates would be about a $7600/month payment. That 's going to require an income in the $350K/year range.
$350K may not be enough. As I recall, the rule of thumb is 3x salary (at 5% rate), so that would require more than 20% downpayment and a $1M loan. Makes no sense to borrow more than $1M because, if I recall that correctly, that is the limit of a loan that can be used for mortgage interest tax deduction.
Well, if someone were to finance 80% of the list price for this house, their monthly payment would be $7,100. If that is 25% of their income, they would need to earn around $350K per year. (I haven’t taken into account any tax deductions for the mortgage interest.)
The rule of thumb is the common sense. 
USAA calculated our limit at about 4x income, assuming 20% down. The number would depend, however, on what other debt you have.
For us, a mortgage of 4x would have precluded colleges w/o big merit packages, and we’d be eating a lot of ramen!
If I were buying a house as fabulous as cb’s, I would want to make sure I have enough funds after the mortgage to decorate and to be able to entertain the way it should be done!
Not everything is driven by the tax implications.
Limiting the loan to $1mil requires you to come up with an extra $500K in the down payment, that’s a lot of money.
And anyway, no matter the size of the loan, you can deduct the interest on the first $1mil that you borrow. So even if you borrow $1.5mil, you still get some nice tax benefits.
Sure one can deduct interest on $1M out if whatever mortgage size. Unless one can get a good guaranteed % return on that extra $500k, it is best to pay down the debt. Google says jumbos are at 4.5% and higher now. Doubt that $500k can get that kind of return in bonds etc. any time soon.
You are assuming that our hypothetical buyer actually has an extra $500K available.
Our realtor said folks who buy $2+M homes usually pay cash. If they borrow anything, it is just conforming amounts. Things might be different in SD. I cannot imagine paying more than $3,000 a month for a house, property tax and all - no matter what the income is.