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Message
re: The Pennington house off highland
Posted on 9/18/15 at 9:15 am to Maverick01
Posted on 9/18/15 at 9:15 am to Maverick01
quote:
Lol you just proved my goddamn point. Nobody is going to purchase that home for that inflated amount. The market doesn't support that list price, so it will just stagnate in the MLS system. Now please tell me how I'm not being logical again.
Anyone can pick portions of statements to quote and prove their point. Can you read?
0
Posted on 9/18/15 at 9:15 am to Maverick01
quote:
People have no motivation to actually sell, they are just listing it and if someone wants it bad enough great.
You missed this part.
Posted on 9/18/15 at 9:17 am to Maverick01
quote:
This is why I am in favor of an inheritance tax. People who don't earn their fortune see no value in keeping it.
Of the multitude of stupid shite I have read on the OT. This is far and away the dumbest, least thought out and juvenile statement ever. Congrats you moron.
Posted on 9/18/15 at 9:20 am to Maverick01
quote:
Maverick01
Posted on 9/18/15 at 9:20 am to EA6B
quote:
When you are worth several hundred million dollars with annual income from assets in the millions you can burn down a 18 million dollar house, never miss it and be just as wealthy the next month.
This.
Posted on 9/18/15 at 9:20 am to CanShakersDecayedNut
Against better judgement you can list your home for whatever you want to list your home for, but that still doesn't change the fact that homes in the Baton Rouge market aren't being sold for exorbitantly more than the actual property value. I'm still waiting for someone to find me a home that has sold recently in Baton Rouge for more than 35% of the actual value.
Posted on 9/18/15 at 9:22 am to Maverick01
quote:
I'm still waiting for someone to find me a home that has sold recently in Baton Rouge for more than 35% of the actual value.
What it sold for has nothing to do with what someone chooses to list it for.
Did you miss out on the listing? Why are you so concerned with this?
This post was edited on 9/18/15 at 9:24 am
Posted on 9/18/15 at 9:25 am to Maverick01
quote:
I'm still waiting for someone to find me a home that has sold recently in Baton Rouge for more than 35% of the actual value.
A house is worth what someone is willing to pay for it.
I'm not sure where you are getting the 35% number from.
First off, the sale price of the Pennington place was actually 1/3 of their original asking price. So if you want us to compare that, we would need to find a house that is 66% more than the 'actual value'
However, this is a moot point, as all of the smart people in this thread know for a fact that house would never have sold for anywhere near 18 million. It was an overblown price by the Pennington's to draw up attention on their house (which they did) for a property they didn't need to sell at the time. Then two years later, they sell it for a more reasonable 6 million, which I still think is the most a house has sold for in BTR.
Posted on 9/18/15 at 9:27 am to Maverick01
quote:Please define "actual value."
for more than 35% of the actual value.
Posted on 9/18/15 at 9:31 am to TigerRob20
I know it was listed for 18 million...people in here talk about how much of a loss they took selling the house...do we know what it cost when built?
Posted on 9/18/15 at 9:35 am to Maverick01
quote:
I get what you're saying, but we're not talking about a million or even two million dollar loss. The house was sold for 1/3 of what they paid for it? This is why I am in favor of an inheritance tax. People who don't earn their fortune see no value in keeping it.
They didn't pay 18 million for the house, they built the house themselves.
How much did they spend? Only they really know, but it had to be way more than the 6 million dollars it sold for.
And what does this have to do with an inheritance tax? Zero, zip nada.
The thing is when they decided to spend their money, buy the property, hire an architect, hire an interior decorator, hire a general contractor who hired a bunch of subcontractors, who all bought materials, and which stimulated the economy to a certain degree; this was a good thing.
Is it better for private individuals to pass what they already paid taxes on to their relations? Or is it best for the government to take a cut before it's passed on through?
BTW, this would be an interesting situation.
Say if this couple had suddenly passed away then their estate would have been taxed. The govt. would insist the house is valued well over 10 million dollars and the tax attorneys for the deceased couple might argue no way, we couldn't sell the house for that much.
Well thankfully that didn't happen, but we know a house that cost well over 10 million dollars to build only sold for 6 million dollars. So you can see, there are two sides to every story.
Posted on 9/18/15 at 9:42 am to TigerRob20
quote:
smart people in this thread know for a fact that house would never have sold for anywhere near 18 million
If you look at one of my previous post I specifically state that the house would never have been sold at the original asking price. I went on to further state that they would lose millions through price reductions. You think they listed the home for 18 million as a publicity stunt?! Please provide proof of that. Are you trying to purport that they didn't lose millions on the sell of this property, and that after the publicity frenzy died down they decided to accept an amount 12 million below ask because that was their intention all along? Just stfu. I'm done commenting lol. This site is full of half-wit inbred retards. Have a great day figs.
Posted on 9/18/15 at 9:42 am to Maverick01
quote:
homes in the Baton Rouge market aren't being sold for exorbitantly more than the actual property value.
The Arkley's, and the Turner's that Bobby McAlpine came in and designed.
Posted on 9/18/15 at 9:43 am to Maverick01
quote:
Against better judgement you can list your home for whatever you want to list your home for, but that still doesn't change the fact that homes in the Baton Rouge market aren't being sold for exorbitantly more than the actual property value. I'm still waiting for someone to find me a home that has sold recently in Baton Rouge for more than 35% of the actual value.
Had the pennington house been BOUGHT for 18 mill and then sold for 6 I could see why you're trying to use this "actual value" logic. But it didn't. They bought that property, they built a house, they sold the house. They took what they wanted to take for the house. You're trying to convince everyone they took a 12 million hit on the house. You want to believe the actual value of that house is 18 because that's what they had it listed for. I'm showing you people list houses at ridiculous prices all the time knowing that their actual "sell" price is nowhere near that.
How in the hell is someone going to show you a house that sold for over the actual value. You can't show that. What people are willing to pay is what sets the ACTUAL value. The market sets the actual value. That's how it works.
Posted on 9/18/15 at 9:45 am to Maverick01
quote:
You think they listed the home for 18 million as a publicity stunt?! Please provide proof of that.
OK, they accepted around 6 for it. How much more proof did you need?
Posted on 9/18/15 at 9:46 am to Maverick01
quote:
This site is full of half-wit inbred retards.
You were definitely able to prove this point.
This post was edited on 9/18/15 at 9:51 am
Posted on 9/18/15 at 9:47 am to OysterPoBoy
quote:
It's a write off for them.
They just write it off.
All these big companies they just write off everything.
do you even know what a write off is?
Posted on 9/18/15 at 9:48 am to Howyouluhdat
I can't believe someone is so thick that they think the asking price of this place was equal to the cost to build it.
So naturally they'd think that reducing the price actually costs something.
I think we have some 10 year olds posting without their parent's permission.
quote:
I went on to further state that they would lose millions through price reductions
So naturally they'd think that reducing the price actually costs something.
I think we have some 10 year olds posting without their parent's permission.
This post was edited on 9/18/15 at 9:53 am
Posted on 9/18/15 at 9:52 am to TigerRob20
quote:
You were definitely able to provide this point.
Provide or prove? You just keep proving me right. Continue posting. It's really becoming a feel good experience.
Nice edit you fricking idiot.
This post was edited on 9/18/15 at 9:54 am
Posted on 9/18/15 at 9:53 am to TigerRob20
When it first went on the market the story we heard is a relative had listed it and it was to win a competition among the realtors of who had mor $ in listings...I guess that was some bad inside info
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