A place for residents of Marin County, CA and others to express their views regarding the real estate bubble and in particular the Marin real estate market
Thursday, November 30, 2006
I saw this over at Ben Jones' blog. Apparently, Agassi's Tiburon house finally sold for $20 million. Since the majority of Marin houses sell for a lot less than that, expect the Marin sales price average to bump up as a result but the median to be hardly affected. Don't be fooled.
The San Francisco Chronicle. “Retired tennis stars Andre Agassi and Steffi Graf finally have found a buyer for their Tiburon estate for $20 million, or about $3 million less than what they paid for it in 2001.”
“The property was put up for sale because Agassi and his family were using it infrequently and the tennis star’s financial advisers wanted him to dispose of it, said Bill Bullock, whose firm represents Agassi and Graf.”
“‘When they considered the annual cost of that property to sit there vacant, they decided that they needed a little inducement for the marketplace and they started reducing the price,’ Bullock said.”
“After initially listing the Agassi property at $24.5 million, the price was reduced several times before Agassi dropped it six months ago to $21 million. The tennis stars have branched out into real estate development and have invested in a condo hotel project in Idaho with Miami developer Bayview Financial.”
The contributors to this site may, from time to time, hold short (or long) positions in mentioned and related companies.