Monday, October 4, 2010

Some Wealthy Sellers Refuse to Drop Prices

Some of the nation’s wealthiest home sellers are simply refusing to cut the prices on their mansions. Here’s a sampling:

· Suzanne Saperstein, ex-wife of Metro Networks founder David Saperstein, is holding fast to her price of $125 million for "Fleur de Lys," a 41,000-square-foot, mansion near Beverly Hills.

· Tommy Hilfiger co-founder Joel Horowitz, who has been asking $100 million for his 210-acre estate in Zephyr Cove, Nev., since July 2006, says, "I feel the property is worth every penny — and probably then some."

· Former New York Giants running back Tucker Frederickson has been asking for $50 million for a 5,000-acre cattle-and-shooting ranch in Florida since 2008.

Some sellers say they just have to find the right buyer. Others insist that replicating their property would be impossible at the current prices, so they are just waiting for reality to set in.

Source: The Wall Street Journal, Juliet Chung (10/01/2010)