Americas $50 Million Homes

When brokers and sellers establish an asking cost for a home in the double-digit millions, internal genuine estate census data meant roughly nothing. Instead of relying on metrics similar to "comparables," the industry tenure for likewise allocated homes that have not long ago sole circuitously (these prize homes typically have none), brokers find a cost that signals to the chosen customer that a home deserves their millions, but doesnt exam their credulity. Most contend that the honeyed symbol is right around $50 million. Thats because a series of properties on the oppulance marketplace are clustered around that cost point (about 3 dozen homes in in between $45 million and $55 million are for sale publicly, according to the National Association of Realtors). fdcWincolComputeStyle(); fdcWincolComputeListpos("feature_with_art"); OAS_query = "?template=story_feature_with_art";var alertsList = { "alerts":[{"type":"keywords","key":"Real Estate","value":"Real Estate"},{"type":"keywords","key":"Billionaires","value":"Billionaires"},{"type":"keywords","key":"Ranch","value":"Ranch"},{"type":"keywords","key":"Luxury","value":"Luxury"}]}; firstHTML(); OAS_AD("BigBanner"); secondHTML(); OAS_AD(centBan); thirdHTML(); showHMenu(fdcchannel); OAS_AD("StoryLogo"); Pricey Properties Americas $50 Million Homes Francesca Levy,03.18.10, 06:25 PM EDTMany of the countrys majority intemperate properties have forsaken in cost to captivate buyers. Photos: Americas $50 Million Homes When brokers and sellers establish an asking cost for a home in the double-digit millions, internal genuine estate census data meant roughly nothing. Instead of relying on metrics similar to "comparables," the industry tenure for likewise allocated homes that have not long ago sole circuitously (these prize homes typically have none), brokers find a cost that signals to the chosen customer that a home deserves their millions, but doesnt exam their credulity. Most contend that the honeyed symbol is right around $50 million. Thats because a series of properties on the oppulance marketplace are clustered around that cost point (about 3 dozen homes in in between $45 million and $55 million are for sale publicly, according to the National Association of Realtors). emailprintreprintnewslettercommentssharedel.icio.usDigg It!yahooFacebookTwitterRedditrssforbes:http://www.forbes.com/2010/03/18/million-dollar-homes-lifestyle-real-estate-homes.html?partner=yahoobuzzThe cost became some-more hackneyed after the Harkness Mansion, a limestone townhouse on New Yorks Upper East Side, surpassed a mystic threshold, offered for a jot down $53 million in 2006. "We thought the $50 million symbol would never be broken," says Paula Del Nunzio of Brown Harris Stevens. But the Harkness sale pennyless it in New York. Photos: Americas $50 Million HomesTo proceed or surpass this benchmark, a home has to be irreplaceable; devotedly attached upgrades and acres of land alone arent enough. Properties similar to this typically lay explain to an disdainful location: a cherished turning point travel with restrictions on new building, entrance to healthy wonders that cant be recreated on an additional tract of land, or an inimitable--not only enviable--view.,,2010/03/18/million-dollar-homes-lifestyle-real-estate-homes.htmlThese homes have some-more than your customary oppulance kitchens and kitted-out master baths; probably all of them underline outbuildings similar to pool houses, staff quarters, stables and spas. No underline is as well decadent at this cost point: The $50 million properties on the marketplace underline aviaries, swan-equipped ponds and operative olive farms. Recreational diversions go over a pool and tennis court: Cross-country ski courses, trout-fishing ponds, bocce round courts and acres of manicured lawns attend with the main houses."Its a small star of people that can take these assets," says William Fandel, attorney for Peaks Real Estate Sothebys International Realty. "So monument of place is a pushing force.".methodBox {background-color:#d6e8ed;padding:2px 10px;border:1px plain #666;}.methodBox p {font-size:12px !important;line-height:16px !important;}Like this story? Become a fan of ForbesLife on Facebook and find others similar to it. Or follow us on Twitter forbeslife.
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