Just Listed brings you the latest news and information from the Twin Cities-area commercial and residential real estate market and beyond from veteran reporters Jim Buchta and Janet Moore.

What you get for $100 million: A really big house in California.

Posted by: Jim Buchta under Buying Updated: March 31, 2011 - 2:55 PM

 

Photo courtesy Wall Street Journal

Photo courtesy Wall Street Journal

Though most of the housing market is still struggling, a Russian businessman paid $100 million for a California house with views of San Francisco Bay, the Wall Street Journal reported today. What does $100 million get you? A French chateau-style house with nearly 26,000 square feet, indoor and outdoor pools and a regulation-size ballroom. While such sales are clearly out of whack compared with the rest of the market, sales of upper-bracket houses during February were up 4 percent compared with last year, according to the National Association of Realtors. A similar trend is happening in the Twin Cities metro area, I wrote a bit about this issue last week.

 

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