Erin Wright, Y! Local
When the housing market crashed to earth with a resounding thud, one person's misfortune became another person's gain, as homes flooded the market at drastically reduced prices. Owners of top-dollar mansions also found themselves steeply slashing prices as their well-appointed estates lingered on the market.
But there's a contrary view that cautions against turning things into a fire sale. Rather, if a sprawling estate truly is that special, and there are buyers with serious interest in snapping up a trophy home, surely they can unearth another million or two, right?
Forbes.com decided to do a little digging on just how many mansion owners were following that philosophy. Culling data from listing sites like Trulia.com, Zillow.com and Realtor.com, and with a little help from Sotheby's International Realty, Prudential Douglas Elliman and the Corcoran Group, writers were able to track upscale homes where the ante's been upped. The hike sometimesRead More »from Bold NYC-area sellers boost the price on top-end mansions