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| Best Practices: Real Estate |
Landed Class
Elizabeth Harris
02/01/2007
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And, of course, bad taste seems to have the opposite
effect. In the fall of 2006, Duggan showed a client a 12,217-square-foot,
medieval-style home built on the Barton Creek golf course in Austin. The
prospective buyer admired the custom stonework, knights-in-armor standing in
Gothic archways and elaborate wrought-iron torches, but declined to make an
offer on the $9.75 million house. Duggan was not surprised. “There are only so
many people who want to live in a medieval castle,” she says.
After the
hibiscus-and-parrots wallpaper cost them $40,000, the former Naples
homeowners are making more subtle decorative choices in their new residence in
North Carolina, Jones says. “It’s come up every time they’ve made a decision
about ‘what are we going to do.’ It’s amusing,” she says. “They’re not theme
people, but there’s no question that their home in Florida had a Florida appeal,
and their home in North Carolina will have a little more of a mountain lodge
appeal. We’ve laughed about what they should do—and not do.”
High-End Homework
When investing in high-end real estate, experts advise individuals to take these
steps:- Gather sales data from the past 12 to 24 months for homes in
your desired neighborhood.
- Research the neighborhood’s history; look for past
environmental issues and learn any local lore about the desired
property.
- Assess the quality of the property’s raw land; look for lots that
are large for the area.
- Seek private, unique locations.
Illustration by Edwin Fotheringham.
Elizabeth Harris is a staff writer for Worth.
Additional Information
 Best Practices: Real Estate: Landed Class: All Dressed Up
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