World's Largest Real Estate Sale

    Who says it's a bad real estate market?   The French press is reporting that a mysterious Russian billionaire has broken a world record for the most expensive real estate purchase ever. 

   The "Villa Leopolda" a Belle Apoque mansion on the Cote d'Azur has reportedly sold for $750 million.  Negotiations went on for months for this property, formerly owned by King Leopold II of Belgium and sold by the widow of a Lebanese banker.

   I'm not sure that it's a good thing to be the guy that just set a new worlds record for paying the most ever for a house.  I have to wonder if he had a Buyers Broker or if he tried to do this himself (probably why it took so long).  Obviously he didn't have a good CMA (comparative market analysis) since there can't be any comps.  I hope he got the chandeliers thrown in and didn't forget to ask for a septic inspection, the plumbing in those old homes is usually pretty bad. A good Buyers Broker may have saved him from holding this dubious distinction!

   I love the quote from a local real estate agent as reported in The Nice Martin newspaper; "at this price tag,...we are beyond reality".

Jim Cosgrove

Comments

[Mindy Allen]

Hi Jim, Your blog is wonderful!!! It looks great and I like the way it's set up!

[Jim]

Thanks, Mindy. Hope you can stop by often!

[real estate in philippines]

Villa Leopolda was very wonderful.
Hmmmm, that's another way of looking at it. Great views.

-Filicity-

[philippine real estate]

I've been visiting your site for some time now. This is the first time I would leave a comment. I love this blog post! So true.

-megan-

[condo for sale Philippines]

Nice quote I love it. "at this price tag,...we are beyond reality".

Mitch