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The Most Expensive Home In America

Posted by: Christian Madera

8 July 2007 - 5:00am

If you are a billionaire in the market for a second (or third) house in Aspen, Colorado, the $135 million Hala Ranch might be for you.

At $135 million, Hala, just northwest of downtown Aspen, is the most expensive single-family residential property in the nation on the market...a 95-acre estate built in 1991 for the family of Prince Bandar bin Sultan, the former ambassador to the United States from Saudi Arabia and the home’s only (occasional) occupant."

"Selling it mostly consists of saying no...In the marketing of Hala, which means “Welcome” in Arabic, nonbillionaires need not apply."

"At 56,000 square feet, Hala is bigger than the White House, with a staff of 12. It has 15 bedrooms, 16 baths, a private barbershop and beauty salon just off the master suite and enough space for a party of 450 people. Many of the rooms are huge, with banks of windows overlooking the Aspen valley and the mountains beyond."

Full Story: A $135 Million Home, but if You Have to Ask...
Source: The New York Times, July 2, 2007
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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?"
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