The most expensive house for sale in the United states just got a little cheaper. The sprawling Bel-Air estate featured in the opening credits of the classic television series The Beverly Hillbillies, was discounted last week bringing its current asking price to $195 million. That’s a $50 million price cut from the $245 million price tag when it went up for sale in October 2018 and $95 million less than when the property was announced was first brought on the market in August 2017.
The property includes 10.3 acres of land and a 25,000-square foot mansion inspired by French Neoclassical design. Features include a ballroom, wine cellar, parking for 40 cars and a 75-foot pool. It was previously owned by the late Univision billionaire A. Jerrold Perenchio.
The home was constructed in 1933 and features stunning views of Los Angeles and the Pacific Ocean. With a requisite 20 percent down, mortgage payments would shake out to be about $920,000 per month.
Meanwhile, conforming no-point 30-year fixed mortgage rates are averaging 3.875 percent and 15-year rates are near 3.375 percent.
Do you have a question for Real Estate & Mortgage Analyst Mehran Aram? Submit your queries about a home purchase, refinance, or reverse mortgage via Aramco.Biz, social media (#AramcoReport), or over the phone at (866) 381-8888 and your questions may be featured in an upcoming article.