Posted on 10/10/2023 6:28:03 AM PDT by grundle
Judge Arthur Engoron found... the Palm Beach County tax appraiser's valuations, which ranged from $18 million to $37 million.
“Ludicrous,” agent Liza Pulitzer said about the judge citing the county’s tax appraisal as a benchmark. Homes a tenth the size of Mar-a-Lago on tiny inland lots sell for that in the Town of Palm Beach, a wealthy island enclave.
“The entire real estate community felt it was a joke when they saw that figure,” said Pulitzer, who works for the firm Brown Harris Stevens.
“That thing would get snapped up for hundreds and hundreds of millions of dollars,” said Rob Thomson, owner of Waterfront Properties and a Mar-a-Lago member. “There is zero chance that it’s going to sell for $40 million or $50 million.”
Pulitzer said the rock-bottom price for Mar-a-Lago would be $300 million. Thomson said at least $600 million. If uber-billionaires got into a bidding war, they said, a sale of a billion dollars or more would be possible.
The much smaller Palm Beach compound once owned by the Kennedy political dynasty sold for $70 million three years ago.
The county gives Mar-a-Lago its current value for taxation of $37 million based on its annual net operating income as a club and not on its resale value as a home or its reconstruction cost.
(Excerpt) Read more at abcnews.go.com ...
Enrogon moonlights as a real estate agent. ROTFL!
No one knows more about real estate in PB County than Rob Thompson, and he is dead on accurate here.
It would bring closer to a billion than the value that the corrupt judge put on it.
The value is whatever someone is willing to pay for it.
Banks don't even take it into consideration in making a loan.
And banks don't give a damn about how Trump values Mar-a-Lago or any other property either. They'll get their own appraisal from an independent professional.
That judge just lit the fuse on the housing bubble bomb.
What a marroon.
Even the Associated Pressitudes and ABC Spews can’t get lipstick on this pig.
The case is probably the worst of all the political prosecutions and is destined to fail.
Uhmm... IF we still have a country that follows the rule of law.
But, but...but...well...Trump!
Oh, the humanity! Save the children! Orange man bad!
</sarcasm>
When I get home from the cities, I consider my home priceless.
Exactly. And the owner can put whatever price he wants for it on it.
“It would bring closer to a billion than the value that the corrupt judge put on it.”
So judge pedo-face is much further on the wrong side of the property value than Trump could possibly be.
New York is a freak show.
“The value is whatever someone is willing to pay for it.”
Or willing to lend against it.
To take the assessed value of an extremely valuable piece of real estate in a prime location is ludicrous.
And of course any bank lending to Trump was completely aware of the assessed value and knew that it was a completely unrealistic number.
Considering the banks made their own assessments, I’m sure their assessments were many multiples higher, and the judge was fully aware of that.
It’s the judge who committed fraud because he engaged in a complete act of dishonesty by citing that number.
I sense this is going to turn into a pretty big mess if banks are told by the gov’t what values exist, or don’t exist.
Why says the Yankees are worth $7.1-billion? How can you say the Dallas Cowboys are worth $9.2-billion?
It’s the bank’s option....to accept a value or to walk away.
Is the government making moves to confiscate Trump properties?
Telling someone that your asset is worth a gazillion dollars is not fraud if that someone isn't going to make a financial decision based on that information.
Another fake crime the corrupt DOJ is using to harass a political foe.
Exactly. Basic rule of economics.
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