Real People Making Real Money in Real Estate

Real Estate Windfall

August 6th, 2010 at 8:20 pm

Dean Gardens, Atlanta's Pink Elephant Mansion Finally Sells: 15 Years On the Market

Dean Gardens, Atlanta's pink elephant mansion has finally sold after being on the market for a whooping fifteen years.

The Pepto Bismal Pink colored manse sold finally with a $25 million price slash.  The house will be demolished soon.

It's 32,000 square feet of, well, unique decorating. The nursery  actually looks somewhat sinister to me.  Kind of reminds me of an old department store here in Nashville where they had carousel horses floating all over the place.

Reasons for selling?

"The operating expenses far exceeded my expectations," says home seller Larry Dean.

Yep, some real estate investments are like that.

Read more about Atlanta's Pink Elephant 

Enhanced by Zemanta

Popularity: 4% [?]

Be Sociable, Share!
Blog Traffic Exchange Related Websites
  • LaSalle MansionUsing A Real Estate Broker? This is a Money Mavens Network post, the first of many to come. This time, a number of the Mavens will be writing on the topic of using a Real Estate broker to sell your house. (We've not seen each others' posts before publishing, so any similarities are purely from......
  • blog traffic exchangeA New Wave of Distressed Sales & Foreclosures Due to BP Oil Spill? Not surprisingly, headlines like "The Worst Oil Spill in U.S. History" and "Sunbathers in Gas Masks" are doing substantial damage to the balance sheets of tourism dependent oceanfront resorts and small business real estate investors in the Gulf Coast. As one oceanfront real estate developer states: There is no real......
  • Real Estate Bubble example - Overpriced and Cheap Credit loan condo -- sold for $150,000 in 2006, short sale in 2010 for $65,000Vulture Investors Love the Real Estate Bubble & the 50% Plus Discounts For vulture investors, the real estate bubble is about to become an all you can invest eat buffet. As a vulture investor myself, I'm finally beginning to see some additional capitulation in sellers (and bank owned REOs) lowering their asking price to meet lower demand. Case in point: a 3BR/2BA......
  • houseReal Estate Investments - Good Idea or Bad Idea? Right now, if there was a market that had bad news written all over it, it would be real estate. The housing crisis has made investors jumpy, the economy appears to be tanking and home values are plummeting across the country. Would you believe that this is actually a good......
  • Bubble burstsHow to Spot an Investment Bubble Did your investments get slammed because you bought at the top of the market only to curse them all the way down? Were you feeling anxiety because you listened to friends talk about flipping condos for a quick profit and felt like you were going to be left out?  Did......

You must be logged in to post a comment.