On Aug. 15, Walters is auctioning his 21,000-square-foot home at 5425 Los Mirlitos in Rancho Santa Fe, an exclusive area north of San Diego. The place sits on nine acres and comes complete with a Dave Pelz-designed short-game practice area.
What makes it a gamble: Walters has agreed to sell his place to the highest bidder, ?without reserve.? In other words, there?s no bottom price. He listed it earlier with a traditional real estate firm for $20 million. If the highest bid on Aug. 15 is, say, a tenth of that, the buyer gets it for $2 million.
?I?m not concerned that?s going to happen,? says Walters, who teamed with Fredrik Jacobson to win the AT&T Pebble Beach Pro-Am in 2008. ?I paid $8.5 million for it three and a half years ago, right in the crunch of the recession. My wife, Susan, and I spent a little over $7 million in hard costs completely renovating it, with her doing all the work. This is probably the nicest house in the whole San Diego area.?
rest of article and pictures here
http://www.golfdigest.com/blogs/the-loop/2014/07/billy-walters-course-owner-and.html
What makes it a gamble: Walters has agreed to sell his place to the highest bidder, ?without reserve.? In other words, there?s no bottom price. He listed it earlier with a traditional real estate firm for $20 million. If the highest bid on Aug. 15 is, say, a tenth of that, the buyer gets it for $2 million.
?I?m not concerned that?s going to happen,? says Walters, who teamed with Fredrik Jacobson to win the AT&T Pebble Beach Pro-Am in 2008. ?I paid $8.5 million for it three and a half years ago, right in the crunch of the recession. My wife, Susan, and I spent a little over $7 million in hard costs completely renovating it, with her doing all the work. This is probably the nicest house in the whole San Diego area.?
rest of article and pictures here
http://www.golfdigest.com/blogs/the-loop/2014/07/billy-walters-course-owner-and.html
