Monday, August 1, 2011

More Money than Brains?

There are many things that make south Texas a great place to live, including the friendly people, abundant rodeos, beautiful sunshine all year long, and most importantly...the cheesy goodness of our enchiladas. 
All those good things aside, there is another shining example of what makes San Antonio really great, and that's the affordable housing.  According to recent market analysis, the median home price in our great city is $122,055.  Compare that with the median home price in America--a whopping  $221,800--and the difference is pretty staggering.  Now for another statistic--a home in California recently sold for $85 million.  That's right--I said $85 MILLION dollars.

The home I'm referring to is the Spelling Manor, and what's more--it was purchased by 22 year old Petra Ecclestone, heir to the Formula 1 auto racing fortune. And that's not all.  The price she paid is a whopping $65 million below asking price.  If that little bit of information didn't make you choke on that gooey enchilada, then you must not be eating one at the moment. 

At 123 Rooms and 56,500 square feet, this is the largest home in Los Angeles county (...which makes one wonder--are there really bigger houses in OTHER counties?).  The accomodations include a screening room, gym, several rooms for wrapping presents, a bowling alley, four two-car garages, a tennis court,  pool and an ENTIRE FLOOR OF CLOSETS. 

This amazing piece of real estate news begs some questions for many people.  How do people get that much money?  Does anyone really NEED that much house?   How do you fill a house that large?  But mostly...what is she thinking?

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