If walls could talk the San Clemente estate that once belonged to President Richard Nixon would tell of dignitaries, politicos and disgraced figures. The home, which was recently listed by current owner retired Allergan CEO Gavin S. Herbert for $75 million, was the very location Nixon retreated to after his resignation from office and was the spot of careful contemplation as one of the country’s most ambivalent public figures recovered from a devastatingly blow to his trusting image.
There’s really no question as to why Nixon chose this spot to decompress from one of the most stressful jobs in the world. The home is situated on 5.45 acres on a secluded coastal bluff at the southern end of San Clemente. Nixon dubbed the home La Casa Pacifica when he purchased it in 1969, but it became known as the Western White House after he was elected president.
Set behind private walls and fences, the property consists of a number of structures, including the 9,000-square-foot main residence. The premises also consists of a pavilion with a grand main room, bar, guest suite, a two-bedroom guest house, pool and pool terrace, lighted tennis court, gazebo on the bluff, vegetable and succulent gardens, a greenhouse, catering facility and no less than four staff residences.
A home with so many refined amenities and an esteemed owner is sure to attract dignitaries and celebrities. Nixon entertained 17 heads of state at the property before he sold it to Gavin S. Herbert in 1980. Since then, Herbert and his wife have worked to preserve the home as a historic property. In 2009 he entered into a 10-year preservation agreement which would allow the city of San Clemente to give him tax breaks on the property.
San Clemente Home Prices Rise With Listing
The city of San Clemente is no stranger to high-profile, luxury residences coming to the market, however with an initial asking price of $75 million the Western White House is definitely working to up the market value of the community. According to Altos Research, a California-based real estate analytics company, the median single-family home value is on the rise, having gained by over $100,000 since the beginning of the year. The current median value is $1,188,732.
While most luxury markets typically see more supply than home buyers San Clemente is showing a strong market for home sellers according to Altos’ unique indicator, the Market Action Index. This figure is showing an above-neutral value of 37.97, which means there are more buyers demanding homes in the community.
With demand on the rise the amount of time San Clemente homes are spending on the market is falling. Altos reports the average property in San Clemente has been on the market for about 119 days, which is down from this value’s peak just a few weeks ago at 131 days.
If you are interested in finding a luxury San Clemente home, please don’t hesitate to contact our team of property experts today.