Who Wants to Buy the Most Expensive House in America?

THE NEW YORK TIMES:

“Let’s say you’re a super-wealthy single dude who just sold your company,” said Nile Niami. “You’ve just moved to L.A. and you don’t know anybody, so you hire someone to fill your house with partyers. You want everyone to know who you are, but you don’t want to talk to anybody. So you go sit in your V.I.P. room.”

Mr. Niami was giving a tour, and, unlike most home tours, this one started in the nightclub. It will have multiple bars, its own coat room and LED ceilings playing images of moving clouds. Beyond the floor-to-ceiling glass walls there is a swimming pool, along with panoramic views stretching to downtown Los Angeles and Century City.

The home is entering its fifth year of development. When finished this spring, it will be one of the largest private homes in America — 100,000 square feet — and, at an asking price of $500 million, will bill itself as the most expensive as well.

 Read more at the NY Times

 

Don Martin, a 33 year veteran real estate broker and firm owner, helps people save many thousands of dollars selling their own houses and using the MLS for peak exposure. Details of that process here. He is the author of sixteen books, and has been called the most prolific real estate professional in the country today. Follow his real estate blog here and his writing blog here.  His Amazon page is here.

FSBO Homeseller Mistakes to Avoid

There are things you can do to help sell your house, and there are things you can do to submarine your sale.

Biggest-Home-Seller-Mistakes-322x375

I work primarily with owners selling their own houses, and sometimes, if these sellers are not especially careful,  this sector can be inclined toward one or more of these items.

Overpriced Home

The Overpriced Home comes along with its two little brothers,  Unwilling to Negotiate, and Won’t make Repairs.  Their family tree is that of Over-valued opinion of my Own house.   Shoppers know that house means important things to you, the seller, but they are looking at how it will fit on them and their lifestyle.  It might take some fitting and tailoring here and there.

The sellers know that bannister has gotten looser over the years.  They have gotten used to it over time.  They know not to lean on it.  A repair would involve complete removal and reinstallation of the whole section, and if the buyer wants that , they can do it, but we’re OK with it as it is.

These sellers may be unwilling to make that repair and unwilling to cut the buyers a price break so they can fix it.  To them, their house is pretty much perfect.

At this point, the crazy aunt comes in.  Crazy Aunt Showing Ability has lots of activities.  She works, of course, but there’s also tennis lessons, piano lessons, football practice, bridge club, and the book club to consider.

Value of Your House

This may be the time for you to realistically and brutally look at your opinion of the value of your house and the value of your spare time.  Selling your own house is not always fun.  It’s almost never convenient.  But if you are grounded in reality and common sense, you will find it to be a rewarding process both psychologically and financially.

But if you are not motivated enough to sell to realize that your house may not be more special than the hundreds of other houses for sale, or that your time is not more special than that of the people you are hoping will want to buy your home,  then you may not be cut out to do this.  Selling your own home is hard work!

That’s why it pays so well!


Don Martin, a 33 year veteran real estate broker and firm owner, helps people save many thousands of dollars selling their own houses and using the MLS for peak exposure. Details of that process here. He is the author of sixteen books, and has been called the most prolific real estate professional in the country today. Follow his real estate blog here and his writing blog here.  His Amazon page is here.