In the last post I talked about the $23,000,000 listing in Raleigh that was reduced to $12,000,000 in January.  Even at $12M it’s still the most expensive listing in the Triangle MLS. But there are markets where that’s run of the mill. The picture here is of an estate in Lake Tahoe that is listed for $100,000,000. I follow a couple of other blogs on luxury homes in other areas of the country and I saw this on one of those. If you are interested in who buys this kind of home I can recommend a book recently published by Robert Frank entitled Richistan:A Journey Through the American Wealth Boom and the Lives of the New Rich. By and large this blog won’t address the fraction of 1% of families with the resources to buy this kind of property but I did find it interesting how the writer described it because it provides an illustration of how “post-boom” listing agent/marketing directors must do a better job of positioning all properties, but especially luxury properties.

The blog author begins, “I… have a special appreciation for mountains and mountain lakes. Among other mountain attractions, it’s the regularity of seasons, the deep blue water, the towering pines, and the snow pack that accumulates each winter.

It is easy to imagine such natural beauty.

Now, imagine a 210-acre mountain estate in Lake Tahoe …with its own serene private lake and an updated, 70-year-old, 38,000 square foot mansion complex.”

She does mention the 9 bedrooms and the 18 bathrooms and a list of other amenities, but how’s this for atmospherics,

“Included is:       

I actually believe that this type of copy would be a little over the top for your average $1M home in the Triangle even if you could make the claims. However, we should agree that marketing fine homes is not just selling bricks and mortar. All three of these points produce very vivid images appealing to multiple senses (Ahhh…, Breathe deeply…, Shhh….)

You also don’t see a Wal-Mart-ish  dropping of that last million to $99,000,000 to keep it at seven digits. In fact, I wouldn’t be surprised if hitting that 8 digit level wasn’t part of the strategy to sell the home. $100M almost certainly wasn’t derived from an appraisal. One reason to buy this kind of property is to show that you can…if you have to ask the price, you can’t afford it.

The call to action at the end of the post suggests the same sentiment. It isn’t “call me if you would enjoy living in a great home near Lake Tahoe.” It’s “If this is a property that might suit your portfolio…an appointment with knowledgeable representation can be arranged.” This suggests not so much an investment as an addition to your portfolio of homes.

This kind of language is a little too pretentious for my taste but the point is that the same copy that would work well in Hope Valley Farms just might not be appropriate for Hope Valley. If you think this is stating the obvious you don’t see as much home marketing material as I do.