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  #1  
Old 09-25-2007, 08:31 PM
Tom Woolford Tom Woolford is offline
 
Join Date: Nov 2005
Location: Nature Coast
State: Florida
Professional Status: Certified Residential Appraiser
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Default More Money than Good Sense

A 16 MILLION tear down

http://www.thebostonchannel.com/spor...69/detail.html
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  #2  
Old 09-26-2007, 07:50 PM
Mike Boyd Mike Boyd is offline
 
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Location: Santa Rosa, CA
State: California
Professional Status: Retired Appraiser
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Beautiful older home/mansion. Too bad it's gotta go.
  #3  
Old 09-26-2007, 09:16 PM
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David Wimpelberg David Wimpelberg is offline
 
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Location: Hamptons, NY
State: New York
Professional Status: Certified General Appraiser
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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  
Old 09-26-2007, 11:37 PM
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Lee in L.A. Lee in L.A. is offline
 
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Way too much money for one guy.
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  #5  
Old 09-27-2007, 10:51 AM
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seattle98116 seattle98116 is offline
 
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Location: Seattle
State: Washington
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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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