Outrageous Real Estate

Published on February 3rd, 2015

Outrageous Real Estate Transactions

Since acquiring a home can involve a large amount of paperwork, as well as credit approval, it is often considered a time-consuming endeavor. In most cases, real estate transactions are relatively ordinary, but occasionally, intriguing property deals occur. This is when things really get interesting for mortgage companies…

Buying New York City’s Narrowest House

In 2013, the Big Apple’s slimmest home sold for $3.25 million. The home is just 9 ½ feet wide and 42-feet long. George Gund IV purchased the home for its historical value: According to reports, poet Edna St. Vincent Millay, John Barrymore, and Margaret Mead have all stayed in this slender residence.

Buying an Island

Billionaire Larry Ellison didn’t have to worry about home mortgage approval when he bought 98 percent of the Hawaiian island of Lanai in 2012. After completing the real estate transaction, the billionaire presented his strategy to modify the island into a sustainable, ecological operation. He intends to bring solar power to Lanai as well as electric cars. Mr. Ellison also plans to transform ocean water into fresh water to help establish and irrigate organic farms.

Buying a Farm

In late 2012, Stan Kroenke, owner of the St. Louis Rams, purchased a working ranch in Montana. The spread includes 123,000 acres of land and stretches across three of the state’s counties. William and Desiree Moore, the Kelley-Moore Paint Company’s founders, originally owned the Broken O Ranch. Today, it is one of the largest agricultural outfits in the region.

Buying a Mansion

It’s unlikely that the French billionaire who bought the most expensive home ever sold in Los Angeles County needed a home mortgage to receive the keys to the mansion. The 12-bedroom Fleur de Lys manor was purchased for $102 million. It features an enormous movie theater, pool, and tennis courts.

You may not have millions of dollars to buy a luxury mansion, but there’s no need to settle. Homeownership gives you freedom and space. In your home, you can make changes that suit your lifestyle and make your space feel like a million bucks. You can also pay it off and obtain freedom from loan payments. When you acquire a home loan, you are participating in what most people consider an important part of the American dream. When you’re ready to start moving towards the American dream of home ownership, our Housing Buzz Team can help point you in the right direction.

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