A renovated missile silo on the market? The largest house in the United States under construction? Celebs flipping million dollar real estate property like they were selling stocks? These are just some of the highlights of the wild housing market that we have seen this summer. Instead of analyzing mortgage rates and government housing policies, let’s take a look at unique real estate that has captured the market’s amazement over the past few months.
During the Cold War, several missile bases were built underground and scattered throughout the country. Decades later, these massive silos have been decommissioned are being sold off as private residences. In Lewis, N.Y., one of these missile silos in being sold for $750,000, which could be a steal for a property that extends 185 feet into the ground. The “house” (above left) has everything that a normal one does, including a kitchen, bathrooms, and a living area, as well as protection from noise, extreme weather, and of course, any potential nuclear disasters. If you have deep pockets and an imagination for home design, this could be a piece of real estate worth investing in.
Got $100 million to blow? If so, you could consider purchasing a home in Orlando, FL that sizes up at a mere 90,000-square-feet. Construction on this colossal residence dubbed “Versailles” (pictured on the right) ceased during the recession four years ago, but the owners have decided to restart their project that will eventually contain 13 bedrooms and 23 bathrooms. The house will also feature two movie theaters, a bowling alley, a roller rink, multiple pools, and 10 kitchens! While this mega-home was listed in 2009 for a whopping one hundred million dollars, owner David Siegel says he plans to make Versailles his permanent abode, but could be swayed “only for a lot of money.” Let the bidding begin!
Not only can real estate take on multiple intriguing forms, it could also prove to be a wise investment, as evidenced by the purchasing history of notable celebrities. Take Bruce Willis for example, who bought a Beverly Hills property in 2004 for $9 million. After several additions and letting the house appreciate in value for almost a decade, the one-acre mansion is now being listed for $22 million, a 144 percent price increase! Willis is no stranger to the real estate game either, as he holds a few properties in Idaho and New York that he is attempting to sell for large profits. Apparently, Mr. Willis possesses more skills than just his acting prowess.
Another popular celeb that enjoys playing the real estate game is Ellen DeGeneres, who has been said to buy property “as if it were designer shoes.” This includes her most recent purchase, a $26.5 million ocean view estate in Montecito, CA. DeGeneres is a huge fan of interior design, which gives her plenty of incentive to take on new projects and sell the old ones annually. The Montecito acquisition has now opened up a spot on the market for DeGeneres’ horse ranch, which is being listed at approximately $13 million. This savvy talk show host really knows how to move some real estate!
If you have any of your own crazy real estate stories, we would love to hear them! Post on our Facebook page at https://www.facebook.com/AdvantageTitleCompany to share your interesting experiences and possibly win a prize for your efforts. Also, visit http://www.nbcnews.com/id/8874568/ for more cool real estate information.