Real Estate: One Offering Might Pale In Comparison To Another as in a Las Vegas, Nevada, U.S.A., $70+/- Million Offering vis-à-vis a $70+/- Million Offering In New Zealand. Reportedly for sale, in Las Vegas, is World Famous Entertainer Wayne Newton’s FORMER Arabian Horse Breeding Operation; it is on approximately 17 Hectares (42 Acres). The New Zealand Offering of a Sheep and Steer Breeding Operation is on about 13,800 Hectares (34,086 Acres). This reportedly well-maintained North Island Property stocked “60,000 sheep, 3,500 beef cattle, and 2,300 dairy support cattle” recently.
One might ask: “Is the Las Vegas Property priced Inordinately High or is the New Zealand Property priced far Too Low?”
Since much of Real Estate is based on the “Greater Sucker Principle”; some Property Sellers (or the Brokers) look for Buyers to pay higher prices than the Owners paid; regardless of “Actual Values”.
The International Real Estate Federation (FIABCI) can provide its Experience in Global Real Estate Pricing Parity regarding “High End” Properties.
“Caveat Emptor” is surely applicable to the possible purchase of multimillion dollar priced Real Estate located anywhere. Trust, But Verify. Reality.
Reference: http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11168326
