The big-ticket sales were concentrated in the South Bay, Peninsula and San Francisco, where companies such as Google and Facebook were sending waves of newly minted millionaires out searching for their dream homes, which were in short supply. Bidding wars pushed high prices even higher.
Mercury News has the latest stats for lux properties in SF/Silicon Valley, and it's getting mind boggling. $1M dollars don't get you much round these parts.
In Today's Episode of Crazy Things Rich White People Do: $2M Mansion in Marin Burns to The Ground The Day of Tenant Eviction! Arson or Coincidence?!
Let's Celebrate Judge Judy's New $10M Beverly Hills Mansion: Watch Her Cut This Landlord Who Claims Tenant Makes Whoopie Too Loud! LOL!
All The Glitz & Glam Can't Save Versace Mansion Embroiled in Legal Problems! Price Cut from $125M to $75M!
R.I.P. Marty of Madagascar!...This Is Real Photo of $3.4M Atlanta Mansion...Boy, This Stager Has Got ISSUES!!
Check out this fantabulous Beaux-Art mansion in San Francisco's exclusive neighborhood Presidio Terrace. And by exclusive, we mean class-ist, folks. LOL. It's super gated to block us proletariat riff-raff out! They used to be racist there too! Ain't no place for a working class gaysian like me. More pix and info at Huff Post!
Home to California Senator Dianne Feinstein before she decamped for Pacific Heights in 2006, Presidio Terrace is infamous for its long-invalidated race restrictions. "There is only one spot in San Francisco where only Caucasians are permitted to buy or lease real estate or where they may reside," read an early 20th Century advertisement about the neighborhood. "That place is Presidio Terrace."
Facebook COO Sheryl Sandberg, Google Desktop's Steve Lawrence & Danis Dayanov of Talkatone/LinkedIn ALL paid a small fortune to buy a house in Silicon Valley, only to demolish it and build a new home! Gadgets or property, them tech nerds will always love shiny new things!
After lingering on the market since 2010, this overly gaudy, er decorated, Bel Air Mansion in California finally slashed its price from $40m to $25M. Some ppl are just slow learners!
Check out American Supermodel and activist Maggie Rizer's simply fabulous home as showcased by Refinery29. A far cry from the hustle & bustle from her NYC modeling days, she now lives in San Francisco East Bay, hoity toity town of Diablo. Average income is well over $200,000/yr. Girlfriend married up!
Uh oh! The listing for 2845 Broadway at $38,500,000 was suddenly ripped from the MLS! Rumor has it the most expensive home in SF ( currently owned by the Sperlings) is actually (and finally!) under contract. 2845 Broadway was purchased for $32Min 2002, remodeling the 17,500 sq ft main home & 6,000 sq ft guest house soared over $20M...and it's not even finished! It will set back a buyer another $8-16 million to complete the build.
Per SocketSite, "Originally listed for $65,000,000 in 2006, if the sale of 2845 Broadway closes within 14 percent of its most recent list price it will be the most expensive home ever sold in San Francisco, relegating 2840 Broadway to the penultimate position at $33,000,000."
Please send me tips if you know any details about the deal or buyers!!
This Florida couple have set out to build the tackiest, er I mean, largest house in the good ol' US of A! A knock - off of the Palace of Versailles, the 90,000 sq ft property will also feature movie theater, bowling alley, a skating rink, a gym and a wine cellar with room for 20,000 bottles. Unfortch, they still have $30M worth of work left to do and are only 2/3 done! This classic /cliched story of over-leveraging yourself to chase the American Dream is captured in a new documentary that debuted at Sundance!
The average size of a newly built home rose 4% last year, according to just-released data from the Census bureau, cited on MSNBC. When people are struggling, job market stinks, and home prices languishing, how can this be?!
Apparently, rich folk are behind this. According to the National Association of Home Builders, last year rich people bought bigger and more luxurious homes. That skewed the numbers...because most of us peons are renting or downsizing!
I've blogged repeated about my anti-McMansion sentiments. (I'm pro small space living) And here's empirical proof that McMansions are indeed going the way of the dinosaurs, from Trulia and The Atlantic. It's not just the economy, it's also cultural values shifting. People increasingly are downsizing by choice. Paring down to live simpler lives. The cost of utilities to support a McMansion are sky high! Plus, landscaping & maintenance will kill you! Not to mention you'll spend a fortune on gas driving out to the vapid house in the boonies. Your social life is another casualty of McMansion living. You think you have this fabulous palatial space to entertain, but none of your city friends make the trek out to visit.
What do you think? Can we retire the McMansion? Or will it make a comeback?
Yes, the McRib has made its triumphant return to America, but let's not forget another Mc whose glory days are gone. The Mighty McMansion.
One of my favorite websites Gawker ("Today's Gossip is Tomorrow's News") posted an obituary for the McMansion. Once a symbol of American decadence and excess, the McMansion is now nothing more than brothels, pot farms or remnant of faux suburban paradise.
According to the Wall St Journal, buyers are finally realizing they don't freakin' need a room for every single purpose. It's like the kitchen. How many darn kitchen appliances do you really need!? Some people's kitchens cabinets are stuff to the max with tools. And it's just for the sake of having them...not using them. Buyers see now that rooms can be multi-purpose (gee, that's a novel idea!). This explains why I'm seeing a new design trend: open flexible floor plans where the common area & kitchen blend together.
Like I always say, "It is not Down Sizing, It is Right Sizing!"
PS: Check out this spot-on blog McMansion Makeover. Hilarious stuff!
As Seen On