What to expect on multi-million dollar home sales?

[Chris Ellis]

I am working with a client on a project where the A.R.V. is expected to be around $30 million. I love optimism but he is expecting to be able to sell the property very quickly. I'm expecting it to be on the market for quite some time. It is a single residence. I think the market for that grand of scale has declined a little bit. What are your thoughts?

[Jay Hinrichs]

@Paul Leason  agreed  unless its like the top of the pop in PHX ... you never know with those monster homes. back in 04 I bought a mansion from a basketball player NBA  that was 3/4 done..

in Portland OR>. and our market pretty much peaks at 6 million or so for river front..

we finished it I listed it and sold it first day for 5 million cash..  well turns out my needle in the haystack buyer just got the golden parachute from Precision die cast (retired CEO) he had been eyeballing it the whole time we were remodeling it.. we did a 1.5 million in finish work.. so you can imagine the quality and he wanted that home.. first day on market boom sold... and like any red blooded American broker day it closed I bought an airplane  LOL>.