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Sunday, October 01, 2006
This Old House  So real estate is leveling off, huh? You'd never guess it at the upper edge of the spectrum. A smattering of homes here in the US have broken the $100 million mark. That's a 1, with 8 zeros, 2 commas, and a decimal point with 2 more zeroes behind it. 8 zeroes... for a house... 10 if you count the small change... Seems my humble abode just became a lot more humble, but then, my last name isn't Trump. Yep, you got it, The Donald was first to break the triple digit ceiling, listing his home in Palm Beach at $125 big ones. It's the beach front 'cottage' pictured above. Want the clincher? This property isn't the most expensive on the market. A little hideaway in Aspen is going for $135 mil. The owner? Prince Bandar, of Saudi Arabia. It cost how much to fill your car last time? Third on the list [yes, there are three] is Joel Horowitz, who sells you those Tommy Hilfinger goods. His weekend getaway in Lake Tahoe [you have to get away from the grind] will set you back an even $100 million. If you think homes like that are just a bit out of reach for us mere mortals, well you're probably right, but I had to find out just how much it would cost, so out comes the mortgage calculator. If I sold the house, the cars, the cats, and the barbeque grill, I'd still fall a little short on the down payment, so it's late night TV to the rescue. Let's do one of those 'no money down' deals. Lake Tahoe Mortgage amount - $100,000,000.00 Interest rate - 6% Monthly payment - $599,551.00 Palm Beach Mortgage amount - $125,000,000.00 Interest rate - 6% Monthly payment - $749,438.00 Aspen Mortgage amount - $135,000,000.00 Interest rate - 6% Monthly payment - $809,393.00 Eight hundred grand a month. That sounds a bit steep, especially when you tack on pool and lawn maintenance, so it's back to the search engines again. Lets' see... let's see.. oh yeh, this sounds better... *Camp sites - rural West Virgina* Link: Associated Press  Technorati Tags: Real estate - Trump - Bandar - Hilfinger Del.icio.us Tags: Real estate - Trump - Bandar - Hilfinger Reprinted from Exit 4 Blogger News Network is advertiser-supported, and your visits to our advertisers help BNN to meet its expenses. Help keep us afloat! posted by John Pangia at 9:05 AM |
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