The average Jane or Joe often expect celebrities to live larger than life and have the large home and jumbo mortgage as part of the program. Aaron Spelling was one famous guy who lived up to the image (sans mortgage). Aaron Spelling was an American film and television producer that garnered over 200 credits to his name, thanks to his contributions to the entertainment industry. During his lifetime he was accredited with creating The Love Boat, Fantasy Island and squeaky clean 7th Heaven. Even after his passing in June of 2006 he was a top earning celebrity (Forbes declared him the 11th top earning dead celebrity in 2009).
History of the Manor
It was because of the constant revenue stream that allowed Spelling to build a French chateau-style mansion dubbed "The Manor" in Los Angeles, California. From the initial construction of the lavish property in 1988, the house been surrounded by controversy. The current listing price of the home is generating the latest installment of the saga. Candy Spelling (Aaron's widow) has been trying to unload the property for over a year at a price of $150,000,000. That price has made the property earn the current title of being America's most expensive home ever.
The Manor was designed by James Langenheim and Associates and when built in 1988, the price tag was a scant $12 million. The property features more amenities and space than some American cities. The home has 56,500 square feet, 4.6 acres of land and 123 rooms, three of which are dedicated gift-wrapping areas. Additional features include a parking lot that can hold 100 cars, a tennis court, swimming pool, screening room, bowling alley and ice skating rink.
The current title of being the most expensive home is far better than the original reception the mansion received. The Los Angeles Times famously bashed the property upon its completion. At that time Sam Hall Kaplan, the paper's architectural critic, proclaimed the home was the worst project built in LA during the time period. He is not the only person to find fault with the home. Not only have neighbors considered the home a visual blight on their neighborhood, the property has become intertwined with pop culture and has been mocked in song lyrics and been the butt of media jokes for decades.
The Manor Has No Mortgage, Paid for With Cash
When Aaron passed away in 2009 wife Candy became the official owner of the Holmby Hills estate. The home has been on the market for over a year, however, no offers have been accepted. Candy opted to sell the property and relocate into a condominium boasting 16,000 square feet of living space.
Per the belief system of her late husband, neither the manor or Candy Spelling's new dig needed a mortgage to purchase as Aaron did not believe in them. Chances are that any buyer to the property may need to secure a home loan of some type and a jumbo mortgage would be required to finance the purchase.
The Manor No Longer Chic
Perhaps the Manor has been lingering on the local multiple listing service for the past year as attitudes towards properties of that size are no longer part of the American Dream. Research released from Trulia.com has shown that homeowners are downsizing and large homes are no longer en vogue. The irony is that now the American real estate market is covered with highly discounted McMansions that interested consumers can scoop up at bargain basement prices.
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