I think Tranquility is the biggest house in Washoe County, for sale or not, at 38,000SF. It is listed for a cool $100,000,000. My calculator seriously doesn’t have enough digits on it to run $/SF calcs for the property, so I guess I’m probably not in the buyer pool. So what is the second biggest SFR in Washoe? I think I’ve found it, but I’ve been surprised before by properties just lurking in the background.
Ground Rules: Outbuildings, pool houses, and garages don’t count. I’ll accept finished basement areas from the Assessor’s site as SF.
So who else has their owns personall little cities disguises as SFRs? What are the biggest homes in Washoe?
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Larry Ellison (CEO Oracle) just bought and tore down three houses on Lakeshore Blvd in Incline Village near the Hyatt. He is building a massive compound, not sure on the square footage, though.
Yeah, I was wondering why Larry didn’t just make a cash offer on Tranquility and be environmental friendly (no new construction). It’s not like he’s hurting for cash anytime soon!
The property I’m judging you against is tracked as 29,086 SF plus 4376 SF finished basement, plus 3691 garage area. Can you find it?
mike is a socialist…
prohibiting free speech..
perhaps you should start a blog in cuba mike?
rather make that N. Korea!
Well, here we have evidence that the high-end real estate market hasn’t collapsed as much as we’d thought. This house hasn’t gone down in price by even a single penny in the over two years it’s been on the market. It was priced at $100M then, and it’s $100M today.
How could we possibly doubt how well real estate holds its value? Of course, a price that actually generates a sale is quite another matter
The only reason I remember this house so well from a couple of years ago is not because I made the list for a private showing (haha), but because I had a bet with someone over the top end that house prices had reached. My friend had clearly “misremembered” an outrageously high home price, and this listing helped me prove the point.
Gary’s comment, though tounge in cheek, raises an interesting thought. How long do you keep a listing like this without a price reduction? 2 years? 5 years? 10 years? At what point is the reasonable conclusion that the property is not seriously for sale?
We see every now and then how some movie star or mega athlete has dropped $5 million off the asking price, and that’s usually on a property that was listed for “only” $25 million or so.
I suggest that the property is not seriously for sale right now. It’s been on the market at least 2.5 years with no price reduction. The percent of the world’s population who could buy at this price as an individual is probably 0.0001%. After all, accoring to Forbes magazine, there are now only 793 billionaires in the world. There are a few thousand other people who have $500 million. No doubt some corporations “could” purchase it, but this is hardly the economic environment to spend $100 million on an executive getaway.
It just dawned on me… what’s the perfect word to describe a place where you can be completely free from the constant intrusions of potential buyers, those annoying people who are always looking around and disturbing your serene state of mind?
It’s a place known as “Tranquility,” the ultimate buyer-free zone where a Realtor can be alone with her thoughts. And if you listen very closely, you might be able to hear the faint strains of organ music coming from the nearby chapel, “Our Lady of Perpetual Listings.”
All in good fun
Hey Mike, I’m a bit curious. What would the RPTT be on $100,000,000?
If this place would sell, maybe Washoe County could solve it’s budget problems.
I believe the RPTT is about $4 per $1000 of value, no?
OK, I thought it was going to be that monster up on Skyline. But the biggest SFR I can find (other then Tranquility) is 555 Riverdale Circle in Verdi. 29,086 SF + 4376 finished basement. The Assessor rates this as a 3 bedroom, 8.5 bath home. Perfect for entertaining!
Simple - $2,631.579 Per SF
How do I find recent PSF data for Montreux?
Nobody shoots a 28 gauge any more, do they?
Junkie, there is probably someone out there that tracks Montreux. Hopefully they will speak up and make your life easy.
If not go the the Assessor’s site at http://www.co.washoe.nv.us/assessor. To the left of Joshua’s head shot, click on “Sales Information” then download 2009 YTD. Most, if not all, of Montreux is in Book 148 (APNs are Book-Block-Lot format), so the parcel numbers will start with 148. Dates, sales prices, subdivision and SF are all listed, so break out your calculator. If you are good at Excel, the data is highly searchable. Note that it can take a few week for sales to show up in the assessor’s data base, but it’s the best we’ve got.
Other fun Books - 11 will get you Palladio, Riverwalk and Montage. 12 will bring up GSR. 7 is the Belvedere. 232 is most of Somersett. 234 is Sierra Canyon, and a bit of the Village. 25 is Smithridge Park. 38 is Verdi and Mogul. 164 is Damonte Ranch. Anything in the 500 series is up North.
Is that geeky enough for you? Good luck, and report back with what you find out.
Thanks Green,
I have found that prices are all over the board. I am getting an average of $276/SF. What do you guys think as far as the long term price stability? I know the $300K+ home market is looking bleak but wondering if anyone has some insight in Montreux specifically.
Also, it looks like the associations are $225/quarter. Anyone know what the other cost breakdowns are?
Love the blog,
Junkie
Palladio is at $247/SF…
Correction: Montreux HOA fees are $250/mo.
the newer listings on joy lake road area are
500K+ compared to a sub 400K to low 400k sales recently
quite a disparity (galena woods near montreux)
interesting to see how this resolves
How come they didn’t take the home’s pictures with their cell phone camera like the quality real estate agents do?
Is it true that banks could care less if you make a CASH offer on a short sale?
I ask this because I did just that.. offering 160k for a property listed at 180k. 3 weeks later still no word, they did have a BPO ordered 2 weeks ago..
Should I just walk? Tired of waiting.. for nothing it seems!
*correction*
the listed price was 176k not 180k.
Joe, I found it depends on who you are dealing with. Going thru US Bank (trustee) or a strictly mortgage company (EMC Mortgage for one) then cash talks. Banks (Wells Fargo especially) will take a contingency on a loan for 1,000 more than a cash offer - I know, they did it twice to me!
I’m thinking the bailout money went mostly to the big banks and they most likely are holding out for the last dime and can afford to wait a while.
It takes a lot of gall for Derrick AKA Big Baby, joe smoe, and others (did he mean schmo?) to ask this board for advice, given the disrespect he has shown the site owners and those of us who post comments.
cousin ITT save your breath!
if you want to continue calling me out then I will ping this server untill the cows come home.
The time has come to ban Derrick from the blog. He adds nothing, just stops here to provoke and insult everyone.
Anyone opposed? No? Good. Do it for the blog, Guy or Mike.
Tranquility is in Douglas County, not Washoe… it is between Zephyr Cove and Stateline, NV.