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Lake Tahoe Home with Vanishing Garage Lists for $50 Million

Tom Gonzales is an internet millionaire that built his large Lake Tahoe estate based on where he would put all of his toys. Tom has nearly 400 cars in his valuable collection with some of the most unique storage compartments ever.

So Where Do All of the Cars Go?

He came up with the brilliant idea of building a spacious, underground parking area that has enough room to fit all of his extensive car collection and his plethora of motorcycles.The coolest part about the this underground parking lot is the way that the vehicles get there. Tom had a custom built aircraft elevator installed to lower his cars to the garage. If someone didn’t tell you, you wouldn’t even recognize the elevator as it’s decorated with actual plants, trees, rocks and other shrubbery. Pretty awesome right?

The Carriage House is what Tom likes to call his three bedroom home which unlike the garage is above ground. This is only one home included in this massive 4 home estate which is going on the market for $50,000,000. Tom is not opposed to selling the 4 homes separately and the asking price for the Carriage House is about $9,000,000.

The entire estate goes by the name of the Sierra Star and plenty of beautiful scenery near Lake Tahoe. This lake is known nationwide as one of the most alluring landscapes.

The Sierra Star in Detail

This country property is well known for it’s snow and is home to many preeminent ski resorts. The entire estate covers over 4 acres of land with over 300 feet of lake front to enjoy. If you like life in the outdoors, you would love this property and the many amenities it has to offer. With two piers, a beach bungalow, a waterfall, and over 300 feet of lake front property, what more could you ask for.

This massive estate was once where the entire family would gather but after the family downsized, Tom hasn’t has much use for all of this land.

The Business Behind it all

Commerce One was a once an eCommerce software company that was founded by Tom Gonzalez and his son. The company was dissolved and claimed bankruptcy in 2004 and now Tom is active in land development.

Tom is willing to sell all of the properties separately if the estate is not purchased in whole. The main house which has 7 bedrooms has an asking price of roughly $15,000,000, the 5 bedroom home has an asking price of about $9,000,000, and the land along the lake’s shore is going for nearly $10,000,000.

If you’re in the market for a beautiful luxury estate and have about $50,000,000 to spare, this lavish country abode may be worth the investment.

For a video of this amazing property Click Here.

Former NBA Star Sells $4 Million Estate

Former NBA star of the San Antonio Spurs, Bruce Bowen is selling his amazing 13,500 sq ft property located in San Antonio for $4 Million.  The home has 9 bedrooms and 9 baths, and there are plenty of things to do in the spacious Mediterranean-style home.  The home also has 2 kitchens, an elevator, separate guest home, tennis courts and spa.  There is also an 8-car garage for all the sports cars you will want.

Bowen retired from the NBA in 2009 and is selling the home for a smaller residence, although location is not known at this time.  The home is expected to sell close to the asking price because of its amenities and location.   Many former NBA stars and owners have purchased elaborate estates in Texas.  The Owner of the NBA’s Orlando Magic is also reportedly selling an expensive $25 Million in Florida estate as well.

Secrets to Getting Multiple Offer on Your Home

Contrary to popular belief, the housing market has really began to surge nationwide. Local newspapers throughout major cities have also noticed and reported the increase in the market. The percentage of real estate listings that are selling at or higher than the asking bid has grown more than ever over the last few years.

Despite this recent incline in the housing market, there are many that are still holding out for their “big deal”. Then there are those who’ve been forced to leave their homes due to foreclosure and have been working hard to become homeowners again.

Although there is an incline in the percentage of homes being sold, there are some common similarities shared between homes that are receiving multiple bids which you can follow to receive the same results.

Make sure the home is stages and ready to go

When you’re preparing your home for a showing to potential buyers, it should be cleaned from top to bottom and presentable. Make sure that the decorations complement the selling points of the home and that you attempt to make your home look like an excerpt from your favorite decor store. One common rule of thumb is to keep the home looking and smelling like a model home that no one lives in. Think about the competition in the market and what you can do to set your home apart from the others for sale.

Just think about how long your competitors have been preparing for a showing and much cleaning or preparation that you’d expect to be done to a house you were viewing with intentions to purchase. There are even services that specialize in cleaning and staging homes for viewings from potential buyers. Put some thought into the benefits these services may provide when contemplating staging the home yourself.

Competitive Rates attract Viewers!

When looking to list a home that receives multiple listings, keep in mind that competitive pricing may be one of the most important aspects. You’d be surprised to know that there are some homeowners list their homes for lower amounts than they’re actually worth in order to stand out from the masses. To some this may seem like you’re selling yourself short but in actuality you are on the road to increasing the amount of potential buyers who come to visit your property.

Value speaks for itself which is why much more people are likely to react to your listing if you are willing to offer rates that provide value to the buyers. The real estate market is a numbers game just like many other markets which means that the more potential buyers you get to view the home, the more likely you are to find a true buyer.

Keep your Home Accessible for Showings

If you were in the market for a home and you were continuously running into scheduling complications, how many times would try and reschedule until you found another home to see?

Making your home easily accessible by keeping your schedule open or scheduling specific times for showings will help you to attain multiple bids on your listings. Make sure that you are keeping up with phone calls, messages, and scheduling meetings in order to reach as many potential buyers as you can.

There is still competition in the real estate market which is why you should take the necessary steps to make sure that you receive multiple offers. By making sure that the home is extremely tidy and ready to present, offering competitive rates, and making yourself readily available for showings, you’re bound to receive multiple offers on your home.

Foreclosure Wave May Not Come As Predicted

Many experts have long predicted that a new wave of foreclosures would occur when banks were permitted to proceed with foreclosures in 2012.  Many foreclosures had been stalled due to various legal challenges that questioned whether banks had property filed legal paperwork required to foreclose on real estate.  Since reaching agreement with the U.S. Government and various states, banks have proceeded to foreclose on many homes, however statistics show otherwise.

According to the Wall Street Journal, new foreclosure filings were down over 30% compared to the same period last year.  Delinquent mortgages are down over 10% from last year.  Is it the end of foreclosures? Probably not, but more banks and homeowners are working out creative solutions to avoid foreclosure.  The Wall Street Journal reports much of the change in activity is due to the $25 Billion mortgage servicing settlement the feds reached with banks in February.  The settlement requires that $17 Billion be used to keep homeowners in their homes, including $10 Billion to write down loan balances.

While lenders continue to sort through their portfolios of non-performing mortgages, many delinquent homeowners are finding that banks are anxious to work out solutions that include short sales, loan modifications and forbearance, as well as mortgage balance write-downs.   The new settlement is expected to allow banks to work out solutions that do not involve foreclosure.  The resulting effect on the real estate market remains uncertain, but most certainly it will mean that foreclosures will “drip” onto the market, rather than come in a big wave.  The result should be a continued stabilization of real estate values.  Most realtors are predicting a slight gain in most real estate markets in 2012.