You may have noticed in yesterday's photo that there is a house that looks like a castle high up on Camelback. Here is a closer view.
This is known as the Copenhaver Castle, named for the orthodontist who built if from 1967-77. He listed it for sale in 1985 for $7 million, cut the price to $2.5 million in 1987. He still could not sell it and he filed for bankruptcy.
The next buyer bought it from a bank in 1989 for $985,000, but filed bankruptcy in 2004. An insurance company bought it for $2.6 million in 2005, but the insurance company was later liquidated and the house went into foreclosure. I local man bought it last year for $1.45 million, but estimates that it needs $3 - $5 million in renovations. It has 7.900 square feet of living space with unusual castle-themed features.
This week we have photos of Galway, Ireland and the Cliffs of Moher posted on our Viva la Voyage travel photo site.
If does not sound like this has been a good investment for people.
ReplyDeleteI'd say that financial back luck seems to go hand in hand with this place.
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