pecos river ranch

11 Biggest Luxury Home Price Drops 2010

Filed under: Estates

Some believe that the Great Recession hasn't been an equal opportunity devastater. While we can all agree that it has shot a cannonball through what was once the middle class, not everyone thinks that the uber-rich have experienced their fair share of the misery. Here are some examples that might prove otherwise.

1) Albemarle House, an elegant mansion located in Virginia's Blud Ridge Mountains, came on the market in 2009 at $100 million. In a blink, the price was slashed to $48 million and now it sits listed at $24 million -- a $76 million or 76% price cut. Think that didn't hurt?

The home is near Thomas Jefferson's Monticello and James Monroe's Ash Lawn-Highland. The 25,000-square-foot main house has 45 rooms and includes a theater, card room, library, and Islamic gallery that features an antique Syrian fountain. There is a pool, pool house, log cabin, greenhouse and a number of staff cottages. The grounds are large enough to install an 18-hold golf course -- which Arnold Palmer has already conveniently designed.

Sotheby's has already auctioned off the artwork and furniture, bringing in $15.2 million and the owner's jewelry fetched another $5 million.

Who are the poor souls behind this financial disintegration?
Patricia Kluge and her husband Bill Moses opened the 907-acre Kluge Estate Winery and Vineyards in 1999. Expansion plans -- and the loans that came with them -- appear to have been their Achilles' Heel. That and the recession, of course. The bank that foreclosed on the business last fall wasn't interested in producing wines and instead sold off the pieces.

Michael Rankin, Sotheby's International Realty, has the listing.

Gallery: Albemarle

Tags: albemarle house, biggest price drops, flying dog ranch, pecos river ranch, real estate, sloane mansion, val kilmer, villa colina

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Val Kilmer's Pecos River Ranch Back On The Market

by Deidre Woollard (RSS feed) —

Filed under: Estates, Celebrity Shopping

Earlier this year actor Val Kilmer fought for the right to use get his Pecos River Ranch in New Mexico approved as a bed and breakfast. After he made a public apology for some unfavorable comments he made about life in New Mexico including a quote in Rolling Stone magazine about how he lived in "the homicide capital of the Southwest," New Mexico's San Miguel County decided the nearly 6,000 acre Pecos River Ranch can operate as a bed-and-breakfast retreat. But now, just a few months later the ranch, which was on the market in 2009 for $33 million, is back up for sale with a price cut. The ranch is now listed with Santa Fe Realty Partners for $23 million. The new listing includes photographs of the property and a couple of interior shots showing casual Southwestern style.

The ranch is located approximately 22 miles northeast of Santa Fe and has ample wildlife and a trail system that snakes throughout the property. It is located along a seven-mile stretch of the Pecos River which offers great opportunities for fishing. Last year in a video interview with KOB-TV Kilmer said that when he put the ranch up for sale he was not planning to leave the state. Kilmer said that he only listed the whole ranch to "try and attract a business partner for an idea I have about a sustainable, off-the-grid community." Back in 2006 he had also offered an 1,800 acre parcel of the ranch for $18 million. Earlier this year the Pecos River Ranch website listed one-bedroom casitas renting at $200 per night.The website for Val Kilmer's Pecos River Ranch is still live.

Gallery: Val Kilmer's Pecos River Ranch On The Market Again

Tags: celebrity real estate, new mexico real estate, pecos river ranch, val kimer

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Val Kilmer Wins Right To Turn Pecos River Ranch Into A Bed and Breakfast

by Deidre Woollard (RSS feed) —

A couple of days ago we wrote about Val Kilmer's fight to get his Pecos River Ranch in New Mexico approved as a bed and breakfast, now it seems an apology has turned the tide. His neighbors originally fought the proposal because of some unfavorable comments he made about life in New Mexico including a quote in Rolling Stone magazine about how he lived in "the homicide capital of the Southwest." Not exactly a ringing endorsement for a place that Kilmer wants to draw tourists to even though Kilmer has said he was misquoted.

The San Miguel County Commission has suggested to Kilmer that he step forward and set the record straight and that's what he did showing up at the hearing on June 23. He presented his case to the crowd, explaining that he loves his home in New Mexico. After a mea culpa in which Kilmer said he understood why people were so upset, New Mexico's San Miguel County decided the nearly 6,000 acre Pecos River Ranch can operate as a bed-and-breakfast retreat.

The ranch is located approximately 22 miles northeast of Santa Fe and has ample wildlife and a trail system that snakes throughout the property. It is located along a seven-mile stretch of the Pecos River which offers great opportunities for fishing. Last year in a video interview with KOB-TV Kilmer said that when he put the ranch up for sale he was not planning to leave the state. Kilmer said that he only listed the whole ranch to "try and attract a business partner for an idea I have about a sustainable, off-the-grid community." Back in 2006 he had also offered an 1,800 acre parcel of the ranch for $18 million. Earlier this year the Pecos River Ranch website listed one-bedroom casitas renting at $200 per night.

Kilmer joins a long line of celebrity hotel and inn owners including Richard Gere, Francis Ford Coppola, Robert DeNiro and Robert Redford.

Gallery: Val Kilmer's Pecos River Ranch

Tags: celebrity hotels, pecos river ranch, val kilmer

Val Kilmer's Bed and Breakfast Plans Foiled By Angry Neighbors

by Deidre Woollard (RSS feed) —

Filed under: Estates, Celebrity Shopping

A little less than a year ago Val Kilmer took his Pecos River Ranch in New Mexico off the market and was instead offering stays in one-bedroom casitas for $200 per person a night double occupancy (the Peco River Ranch website has since been taken down). Now as the Wall Street Journal reports, it looks like that plan isn't doing so well either. When the actor tried to apply for permits to turn the ranch into a bed and breakfast some of his neighbors protested. The WSJ reveals that the issue wasn't the possibility of tourists intruding on the serene surroundings, it was more of an old grudge other those pesky little comments Kilmer made in Rolling Stone magazine when said he lived in "the homicide capital of the Southwest."

According to the WSJ, Kilmer's neighbors want an apology. Kilmer for his part has said he was misquoted. At a hearing last month on Kilmer's application locals demanded an apology and the county attorney, Jesus Lopez said that Kilmer's comments about the area and a later quote about veterans being "borderline criminal or poor ... wretched kids" represent a "clear and present danger threatening public safety."

Gallery: Val Kilmer's Pecos River Ranch

Tags: celebrity real estate, new mexico, pecos river ranch, val kilmer

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Val Kilmer No Longer Selling In New Mexico

by Deidre Woollard (RSS feed) —

Filed under: Estates, Celebrity Shopping

Earlier this year Val Kilmer put his Pecos River Ranch in New Mexico on the market for $33 million but maybe he didn't mean it. A report in the New Mexico Independent in which Kilmer said that he would not be running for governor of the state also referenced the fact that his ranch was up for sale. The state has been buzzing about the possibility of Kilmer as a gubernatorial candidate for months especially after a controversial statement he made in Rolling Stone magazine that said he lived in "the homicide capital of the Southwest."

In a video interview with KOB-TV Kilmer said that when he put the ranch up for sale he was not planning to leave the state. Kilmer said that he only listed the whole ranch to "try and attract a business partner for an idea I have about a sustainable, off-the-grid community." Back in 2006 he had also offered an 1,800 acre parcel of the ranch for $18 million. The property appears to be off the market but you can still visit as a paying guest.

The ranch has its own website and offers stays in several one-bedroom casitas for $200 per person a night double occupancy. The ranch is located approximately 22 miles northeast of Santa Fe. The ranch has ample wildlife including deer, elk, bear and hawks. It has a trail system that snakes throughout the property and a variety of hikes are available. Horseback riding and mountain biking tours can be arranged. The ranch is located along a seven-mile stretch of the Pecos River which offers great opportunities for fishing.

Gallery: Val Kilmer's Pecos River Ranch

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