It is a classic story of David versus Goliath—the real estate edition. Only this time, David, a 600-square-foot Seattle home, may not emerge the victor, as the hours tick down to the end of an auction that will leave the structure’s future uncertain.
From a week ago:
SeattlePI.com reported that although five interested bidders were at the King County Administration Building on Friday morning, ultimately no one placed a bid, prompting the house to return to its beneficiary who owes just less than $186,000 on the property.
Bidders explained any purchaser of the property would have had to assume the first deed of trust, which would have amounted to an additional $300,000 on top of the opening minimum bid of $216,270.70, SeattlePI.com added.
The 2000s saw a tidal wave of corporate scandals in which some of the world’s top business titans moved out of their palatial homes, ritzy ski lodges and vast ranches and checked into prison cells.
Enron, Tyco, WorldCom, Bernard L. Madoff Investment Securities—in these cases, executives bilked investors of billions through accounting fraud, conspiracy and insider trading. And part of the proceeds went into real estate.
What became of their mansions? We reached out to case lawyers, county tax offices, real-estate agents, new owners and the fallen executives themselves to ask what became of the properties caught up in the scandals.
A new restaurant due to open in the US is claimed to be the largest in the country to be built using shipping containers. The Smoky Park Supper Club in Asheville, North Carolina, is constructed from 19 containers and was built by shipping container construction firm SG Blocks.
They think they could have built it in 1.5 days, but they took their time and did it in three days instead – here is the time-lapse construction in 45 seconds:
Architects are taking rammed-earth home design far beyond the dirt-plain adobe look—creating walls that are almost sculptural in their complexity and scale.
It took 300 tons of decomposed granite to build the 72-foot-long rammed-earth wall that forms the spine of Linda Low’s 7,800-square-foot home in Scottsdale, Ariz. Light from a narrow, 110-foot-long skylight—diffused by reflective silver-leaf panels—plays on the wall, which sparkles with bits of mica. “At any time of the day, I can look at it and see something different—and it’s never the same any day,” said Ms. Low, 72, who built the house on 10 acres with her husband, Mickey. “It gives me a sense of tranquility.”
Ms. Low estimates that they spent close to $2 million on the 1997 compound—designed by architect Eddie Jones and rammed-earth builder Quentin Branch.
She recently put the house on the market, but then took it off—after turning down an offer that was more than double the cost to build, she said. “I just decided I’m not selling—I love this house too much,” she said.
Perched above the beach at the edge of the tree line, this vacation home allows the dramatic Oregon Coast to take center stage. The design maintains sightlines from the sheltered forest to the open coastline with a minimal structure of glass and steel. Atop the two-story, transparent box, the copper-clad green roof is an elevated slab of native ferns and grasses.
Romney, whose last presidential bid was hampered by his image of excessive privilege and insensitivity, may recognize the trouble his real estate holdings could cause in another campaign.
He is taking steps to shed some of his property, including retaining a broker who is currently showing the La Jolla home to potential buyers, according to a Romney aide. The aide would not disclose the asking price or explain why the former Massachusetts governor and his wife, Ann, want to sell the home after more than four years of city permitting, hearings, and construction.
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