So far, Barry Bonds’ attempt to sell his grandiose mansion in Beverly Hills at his asking price of $25 million has been a shutout. Market 1 … Bonds 0.
The house has lingered on the market since being listed last January, prompting the former MLB slugger to lower the price by $1.5 million, which is a 6% reduction. Mr. Bonds bought the 17,000-square-foot residence for $8.7 million in 2002. However, significant upgrades were made to the property by the former leftfielder of the San Francisco Giants (and the Pittsburgh Pirates).
Is it possible that he is asking too much for it? Even with the recent price reduction to $23.5 million, the current price is still more than 170% over what he originally paid for it. While real estate experts and financial analysts quibble over price versus market conditions versus celebrity clout, perhaps the real reason Barry is having trouble selling his marvelous mansion is simple, occurs frequently, and is often overlooked.
The advertising copy written by Realtor.com stinks.
…. Bonds’ enormous mansion is one of his finest home runs, which is saying something considering he hit 762 bombs over the course of his career. Beyond its sheer size — Bonds expanded the compound-estate by 5,500 square feet after buying it — the Hall of Fame property is flush in the finer things of life.
Are we wrong?