Former Texas Ranger Rafael Palmeiro’s Swanky Second Home in Pebble Beach: Asking $10,500,000

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There’s Rafael Palmeiro asking for extra time to try and get his $40 million in debts settled. And here’s the Pebble Beach house he says will help him cover the interest payments on those debts if only he could sell it. It’s 1531 Riata Road and I went right by it this August when I was at Concours. Really great part of Pebble, too. Like the best vintage homes in Pebble and Carmel, it’s a 1920’s classic Mediterranean villa with pool on 1.65 forested acres above the Lodge at Pebble Beach with views of Carmel Bay. Talk about a honeypot of a location, but I still think he’s priced too high.

Originally priced at $12 million, sources tell me he snagged it for $8.5 back in 2008 and California prices are back to 2003 levels. Get real, Rafael. Still, the home is more than 6700 square feet with a guest house, exquisite wine cellar, pool and 3 car garage. Listed it July 1, 2011. (I wonder if he leases it out? That guest house would be a kick to stay in, and that might help pay some bills.) The home has six bedrooms, eight and a half baths, great kitchen with two ovens, two refrigerators, two dishwashers. The floors are hardwood and marble, and this home is just what Pebble Beach is all about: relax, enjoy, entertain. Surprisingly, it does not have air conditioning but then you never really need AC in Pebble Beach. This is where Texans go to escape the heat. Someone told me today, you know you’ve arrived when you have a home in Napa.

Well no, actually, I think you know you’ve arrived when you have a home in Pebble Beach.

Or for me, Carmel will do.

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Candy Evans

A real estate muckraker, Candy Evans is one of the nation’s leading real estate reporters. She is also the North Texas real estate editor for Forbes.com, CultureMap Dallas, Modern Luxury Dallas, & the Katy Trail Weekly. Candy has written for Joel Kotkin’s The New Geography, Inman Real Estate News, plus a host of national sites. Constantly breaking celebrity real estate news, she scooped former president George W. Bush's Dallas home in 2008. She is the founder and publisher of her signature CandysDirt.com, and SecondShelters.com, devoted to the vacation home market. Her verticals have won many awards, including Best Blog by the venerable National Association of Real Estate Editors, one of the nation’s oldest and most prestigious journalism associations. Candy holds an active Texas real estate license but does not sell. She is on the Board of Directors of Braemar Hotels & Resorts (BHR).

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