housing market: Spelling Mansion Sells for $85 Million — But What Is It Really Worth?
- 07/18/11 03:29 AM
What makes a home worth what it’s worth? If you’re the person buying an $85 million mansion, that question is probably currently running through your mind over and over again. Today it was announced that The Manor, a world-famous palatial estate built by entertainment moguls Aaron and Candy Spelling, just sold for a mind-blowing $85 million. That’s 134 million Brazilian reals. Or 3.8 billion Indian rupees. Or…well, you get the idea. Hearing that a house – which, at the end of the day, is just a hollow box where people eat, live, and sleep – is somehow worth $85 million makes many of us … (1 comments)
housing market: Mold and Unseen Terrors In Your Foreclosure? It’s More Likely Than You Think
- 07/18/11 03:26 AM
The foreclosure market brings with it many concerns – foreclosure filing rates, processing delays, robo- signing, home prices, etc. – all associated with what goes on outside the home up on the auction block. One concern, though, may involve something that goes on inside the home – mold. That’s right – mold may be a significant problem in many foreclosures today, a new issue that investors and homebuyers should understand. NPR recently reported that as many as half of the foreclosed homes on the market today may be affected by mold, which can result in health complications in the home’s occupants. The main reason for … (1 comments)
As anyone knows, the real estate market has been in a continual slump since 2007, when the historic real estate bubble popped. Since then, prices have plummeted dramatically, from a peak median home price of $262,600 in March, 2007 to $222,600 in May, 2011 – a fall of 15% over the past four years. Unemployment has also remained stubbornly high – around or above 9% for the past 28 months. Plus, foreclosure rates have flooded the market with a historically-high inventory of unsold homes that continues to depress home values and force distressed property owners into economic hardship. In … (1 comments)
What makes a home worth what it’s worth?
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