Foreclosed Mansion in Georgia Is a Peach
Foreclosed mansions like this one don't come along every day. It's yours for $16.75 million, which may sound like a lot -- but not when you consider that its original value was around $50 million. Deidre Woollard of our sister site Luxist.com reports on the li'l ole Georgia estate that could be yours, or maybe an ultrarich friend's, for a fraction of its original home price.
Last month wementioned that Le Reve, the once $50 million estate for sale in Forsyth County, Georgia was in foreclosure. It has now had yet another price cut down to a new low of $16.75 million. Real estate agent Troy Stowe put it bluntly in a piece on WSOC-TV,saying "now, our new strategy is, the house needs to go." Thenew listingtrumpets the fact that the home has been reduced by $32 million as well as indicating that the home is now bank owned.
La Reve was the home of Hubert and Norma Humphrey who designed their lavish seven-bedroom home with a private bowling alley, its own golf course, a massage room and a huge movie theater that is a replica of Atlanta's Fox Theatre.