Snake Charm
In Jackson, Wyo., Ross Perot Jr., son of the Texas billionaire, is in talks to purchase a 1,300-acre ranch that straddles the Snake River. If the purchase goes through, it could be the highest-priced land deal in the state's history. Mr. Perot, 45 years old, is the executive chairman of Perot Systems, a technology consulting concern, and also serves as chairman of Hillwood, a Dallas-based real-estate development company he owns. He is making the purchase through Hillwood, and it's expected to close in the next few days, says company spokesman David Hicks. He declined to estimate a purchase price.
The company plans to split about half of the area into 35- and 50-acre residential parcels, while about 600 acres will remain active for cattle ranching, according to Mr. Hicks. The Mead family, whose forebears homesteaded the land more than 100 years ago, put the ranch -- surrounded by national forest and with views of the Grand Tetons -- on the market last year at $110 million. Though the state doesn't require that the price of all property deals be disclosed, brokers in the area say the highest previous sales have been in the $60 million-$70 million range. The Mead family couldn't be reached to comment.
The Jackson area, whose residents include actor Harrison Ford, Vice President Dick Cheney and World Bank President Jim Wolfensohn, saw a cooling in its high-end real-estate market when the 1990s faded, according to David E. Viehman, of Jackson Hole Real Estate & Appraisal. But overall home sales rose 21% in the first six months of 2004 from a year earlier, the firm says, while deals involving properties costing more than $1 million rose 45%.
Selling by the Book
The Oscar-winning screenwriter and novelist Sidney Sheldon put his Holmby Hills, Calif., home on the market in August for $23 million. Mr. Sheldon, 87, moved into the 12-bedroom, 22,000-square-foot estate in 1978, after his best-selling novel "Bloodline" was published. The two-story home, built in the 1930s, sits on just over three acres of land. It has a tennis court, guest house, pool, 24-seat theater, Japanese garden with waterfalls and a 20-car garage. In the home's office, Mr. Sheldon penned many of his novels, including the recently released "Are You Afraid of the Dark?" Delphine Mann, who's handling the sale for Coldwell Banker of Beverly Hills, estimates Mr. Sheldon paid about $5 million for the home. He and his wife will eventually relocate to the couple's Palm Springs, Calif., home while they search for smaller accommodations near the ocean, Ms. Mann says. Mr. Sheldon wasn't available to comment.
Around a Market in 80 Days
A property in the $25 million-plus range rarely sells in 80 days, but that's what happened to an eight-acre, five-bedroom estate near Greenwich, Conn., a suburban community about 30 miles northeast of Manhattan. The sale for $45 million highlights the strength of the Northeast's market. Horse-racing devotee Henryk de Kwiatkowski, who died in March 2003, had owned the home, though the seller was Palgrave Investments SA, records show. TP Holdings LP, a financial-services company whose chairman is Thomas Petterfy, bought the estate, according to records. Neither Palgrave, Mr. Petterfy nor his company could be reached to comment. David Oglivy of David Ogilvy & Associates handled the sale of the estate, whose asking price had been $53 million. The property sits in the gated community of Conyers Farm, a 1,500-acre enclave with 96 homes. Four guest houses and a 22-stall stable surround the main residence.
Home View / The Ideal Agent
What do homeowners (and home-seekers) want from their real-estate agents? "Prompt responsiveness" is most important, said 43% of 702 people replying to survey questions on the Realestate.com Web site. A broker's ability to really listen to clients' needs came next, with 23% of respondents citing that as most important. Market expertise, listed as most important by 15% of respondents, and agents' ability to use Web, e-mail and digital-photo technology -- cited by 13% -- were ranked next. Finally, 6% said having an agent with negotiating expertise was most important to them.
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