More Money than Good Sense

Discussion in 'The Watercooler' started by Tom Woolford, Sep 25, 2007.

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  1. Tom Woolford

    Tom Woolford Elite Member

    11
    Nov 20, 2005
    Professional Status:
    Certified Residential Appraiser
    State:
    Florida
  2. Mike Boyd

    Mike Boyd Elite Member

    0
    Jan 18, 2002
    Professional Status:
    Retired Appraiser
    State:
    California
    Beautiful older home/mansion. Too bad it's gotta go.
     
  3. David Wimpelberg

    David Wimpelberg Moderator Staff Member Moderator

    18
    Mar 30, 2005
    Professional Status:
    Certified General Appraiser
    State:
    New York
    We have plenty of examples here. The largest example I can think of is Lucille Robert's old house; it was a brick mansion well over 10,000 sq.ft. that was bulldozed. Another example is a 10,000 sq.ft., $10,000,000 oceanfront sale (and that was years ago, prices have gone up several times since then) that had the wrecking ball going through the home as I was trying to take a picture.

    The homes that were located on the $103,000,000 sale were donated, otherwise they would have been bulldozed.

    Basically, the dwelling has to be of a quality and design that conforms to the market standards. If not, it gets bulldozed; size doesn't matter.
     
  4. Lee in L.A.

    Lee in L.A. Elite Member

    20
    Jan 24, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    Way too much money for one guy. :leeann:
     
  5. seattle98116

    seattle98116 Junior Member

    0
    Apr 19, 2007
    Professional Status:
    Certified General Appraiser
    State:
    Washington
    Happens in the Seattle area all the time too...some guys cashes in remaining stock options and wants a property, but not necessarily the house that is there...he/she wants to make a "splash" with their new monster dwelling.
    Justin
     
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