Ever wonder what happens to properties with overly optimistic sellers? This is a fine example of what not to do.
Michael Jackson's Neverland is a 2,700-acre property which boasts a French Normandy-style 12,598-square-foot main residence, two guest houses, a lake, a 50-seat movie theatre, a tennis court, a 14-foot lagoon-style pool, a barn, and a Disney-themed train station.
It was originally listed for $100 million in 2015 and discounted to $67 million two years later.
It has been rebranded as Sycamore Valley Ranch and was recently re-introduced to the market at $31 million, less than half its previous asking price!
This property has been on the market for four years despite millions of dollars in renovations, price cuts, and a new name. It's an amazing property as you can see from the Zillow ad. But was it worth $100 million? No. $67 million? No. $31 million? We'll see. Meanwhile, the bills keep coming.
Moral of the story? Price your home for the market. Pikes Peak Home Team can help you do that - give us a call - we'll get it sold, not just listed.