The Most Expensive Home In The U.S.

22 July 2006 - 7:00am

The home of a Saudi prince outside of Vail is on the market for $135 million, highest real estate price in U.S. history, and possibly the world.

$135 million is the asking price for the palatial compound of Prince Bandar bin Sultan bin Abdul Aziz outside Aspen. "Bandar is the former Saudi Arabian ambassador to the United States. His 90-acre Starwood property includes a nearly 56,000-square-foot mansion and several smaller homes and buildings."

"The price tag trumps Donald Trump, who had the previous highest offering on the national market, $125 million for a beachfront home in Florida..."

The mansion is larger than the White House and has 16 bathrooms, 15 bedrooms, a racquetball court and a snowmelt driveway.

...Bandar's main home needed special review from Pitkin County before it was approved in the late 1980s, remembered Cindy Houben, community development director. The maximum number of bedrooms allowed at the time was five, she said. Bandar was "allowed to have a lot more."

Source: Vail Daily, July 12, 2006
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The decision to abandon a property is a symptom of the loss of confidence. And while abandonment certainly affects confidence among surrounding homeowners, the most important question to answer is not "how do we deal with abandoned properties?" but "what is the most cost-effective way to restore market confidence, and how do abandoned properties fit into that picture?"