Will Smith sells Kauai Estate for $20,000,000
Everyone likes round numbers but what a sale for Will and Jada Smith. They sold their Kauai Estate of 7.5 acres for $20 million dollars this month. Though the property was not listed at the time, a determined buyer from Europe was able to persuade them with a $6.5 million dollar profit though they have only owned the land for two years. And rumor has it that Julia Roberts purchased the Faye Estate on Hanalei Bay for just under $14 million dollars.
It is nice to see big money moving back into the market. Despite the media doom and gloom, the economy is recovering and folks are starting to buy. Christmas spending was up over last year and hotel occupancies look good into the new year. 2012 will be a much better year for real estate than 2011!!!