Nicki & Karen Press

When Billionaires Build, it’s time to Buy

admin » February 19, 2010

Posted in

Tagged , , , , , , , ,

Forbes estimates he is the 183rd richest person in the world, with a net worth of 3.3 billion US Dollars, and he lives right here in Thousand Oaks, California.  His name is David H. Murdock, and he is a property developer (among many other things).

I have been watching Mr. Murdock carefully with regards to his new phase of real estate development in Sherwood Country Club, and waiting patiently to see what this highly successful man will do.  And  perhaps even more importantly…when he will do it.  You might say that this Billionaire is my own personal “economic indicator” for this geographical area.

Why?  Because David Murdock only builds property that he believes will sell, and he does so, only when he is confident that the marketplace has the ability and the desire to buy.

Well……our Billionaire is building, and with the interest rates still at an historic low, it is definitely time to buy!
There are currently 3 homes under construction with completion dates at the end of June 2010, with 3 more already breaking ground.  The pricing is very competitive: all under $2.5 million, and the sq. footage is a bit smaller than a typical Sherwood home : approx. 4,500 sq ft. on average.

Here are some photos I took the other day, along with a rendering of a very rare Single Level new home called “Amalfi”.

sherwood construction
sherwood luxury construction

12 thoughts on “When Billionaires Build, it’s time to Buy

  1. Hi Karen,

    Nice story. Here is another Billionaire that is beginning to build in Atlanta call FoxHall Resort:
    http://www.southeastdiscovery.com/southern-way-of-life/2010/02/developer-dials-into-creativity-and-enthusiasm-from-the-local-community

    Harrison Merrill, self-made Billionaire developer also owns Catatoga in Lake Toxaway, Western North Carolina debt free: http://www.southeastdiscovery.com/communities/catatoga

    Be well,
    Margie Casey
    Research Consultant

  2. I'll take one – and we can have coffee and morning gossip!

    Interesting on how you use him as your “indicator”. I am going to look about here in town (Dallas) and see who is doing what. I usually like doing business out of my area or even the country HAHA – but thanks to the internet there are few secrets.

    I'm sad my White Stallion mini-series (lord it was long) got knocked down with your new post, I will need to make you another of the N & K trilogy.

  3. Thanks for your support Kevin!

    I always observe people who are more successful than me. It fits in with my theory about “hanging out” with people smarter than me in hopes that it will rub off!

    Can't wait for your next movie 🙂

  4. Good grief — David Murdock owned the island of Lana'i? Not bad for a high school dropout. I guess he's got very good instincts, so smart of you to use him as your economic indicator!

  5. Timely piece. My experience in the real estate industry tells me that when the so-called “smart money” returns to the market, recovery is imminent. Mr. Murdock is clearly representative of a tremendous amount of very intelligent money.

    Having visited the properties he is constructing in the prestigious community of Lake Sherwood, I can say that, like the groundhog who does not see his shadow, the luxury home market must be poised for spring time.

  6. Karen, you are clearly very humble indeed. There are not many humans out there that exhibit the kind of intelligent thinking you possess. The luxury real estate market operates in rarified air, only the most intelligent and the strongest marketers can survive at that altitude.

  7. And I love these blogs you do — you are a really good writer!
    I'm writing a short story that takes place among the very wealthy of
    Calabasas — a sort of fictitious Viewpoint murder story. When I'm
    finished, I'd be honored if you'd read it and give me any pointers on
    making the Very Wealthy Estate people more specific and unusual and
    fabulous. Might you have time for that? It would be about 30 pages,
    and okay for you to say “no” because I have to say “no” to people all
    the time — so busy!
    xoxo H

    Harley Jane Kozak
    http://www.harleyjanekozak.com
    http://thelipstickchronicles.typepad.com/the_li

Leave a Reply