Buyer Beware The Hidden Secret to Home Pricing
HTML-код
- Опубликовано: 1 окт 2024
- Book a consulting call with me. Real Estate mistakes are expensive.
🔗calendly.com/a...
If you wish to have early access to the AI forecasting tool visit:
🔗 www.zipsmart.ai/
In this reaction video, I dive deep into Tom Scott's fascinating coverage of a round house in San Diego, an engineering marvel that spins around itself! This unique property, showcased by Tom Scott, sparks an important discussion about the true valuation of homes and the inefficiencies in the residential real estate market.
While Tom Scott highlights the engineering marvel behind this round house in San Diego, I bring a different perspective to the table. Is this round house, despite being an engineering marvel, truly worth the price someone might be willing to pay for it? In the residential real estate market, there's a common claim that a property's worth is defined by what someone is willing to pay for it. However, I argue that this doesn't necessarily reflect the true value, especially for a property like this round house.
Throughout this video, I revisit Tom Scott's points, explore the intricacies of the round house in San Diego, and emphasize how the engineering marvel of this house is both a strength and a potential flaw in its valuation. The residential real estate market often overlooks the inefficiencies that come with unique properties like this, making the true home valuation a complex issue.
As I dispute the claim that a property is worth what someone is willing to pay for it, I challenge the norms of the residential real estate market, using the round house in San Diego as a prime example. Join me as I explore how this engineering marvel fits into the broader context of home valuation and market efficiency.
Watch the full video to see why I believe this round house in San Diego is a true engineering marvel but also a testament to the inefficiencies of the residential real estate market. Is this unique property really worth what someone might be willing to pay for it? Let's find out together!
🔷 Original video from Tom Scott: • I thought this rotatin...
🔷****𝗕𝗼𝗼𝗸 𝗮 𝗖𝗼𝗻𝘀𝘂𝗹𝘁𝗶𝗻𝗴 𝗖𝗮𝗹𝗹 𝘄𝗶𝘁𝗵 𝗔𝗿𝘃𝗶𝗻****
🔗calendly.com/a...
🔷 If you wish to hire Arvin as your agent for purchase or sell of your property in California, email us at: arvin@arvinhaddad.com
License: California DRE #1930604
🔷 If you wish to have early access to the AI forecasting tool visit:
🔗 www.zipsmart.ai/
🛑 [It's important to note that the content of Arvin’s videos is solely his personal opinion and they are made for entertainment and educational purposes. His brokerage or video sponsors do not necessarily share his opinions. Property analysis is subjective in nature thus Arvin does not guarantee the accuracy of the information presented in his videos, please see the properties in person, review the information available online and contact the city to help you form your own independent decisions.]
✅Don't forget to show some love to "Arvin Haddad - ZipSmart". If you enjoyed this video, comment and share it with your friends. Subscribe to our channel and click the 🔔 icon for notifications when we post a new video!
🔔𝗦𝗨𝗕𝗦𝗖𝗥𝗜𝗕𝗘 𝗔𝗡𝗗 𝗧𝗨𝗥𝗡 𝗔𝗟𝗟 𝗡𝗢𝗧𝗜𝗙𝗜𝗖𝗔𝗧𝗜𝗢𝗡𝗦 𝗢𝗡 𝗧𝗢 𝗦𝗘𝗘 𝗡𝗘𝗪 𝗩𝗜𝗗𝗘𝗢𝗦!
🔗 / @arvinhaddadofficial
🔹𝗥𝗘𝗖𝗢𝗠𝗠𝗘𝗡𝗗𝗘𝗗 𝗣𝗟𝗔𝗬𝗟𝗜𝗦𝗧: Millionaire Mansions
🔗 • Millionaire Mansions
🔹𝗥𝗘𝗖𝗢𝗠𝗠𝗘𝗡𝗗𝗘𝗗 𝗣𝗟𝗔𝗬𝗟𝗜𝗦𝗧: Livestream
🔗 • Livestream
🔹𝗥𝗘𝗖𝗢𝗠𝗠𝗘𝗡𝗗𝗘𝗗 𝗣𝗟𝗔𝗬𝗟𝗜𝗦𝗧: North of Sunset
🔗 • North of Sunset
🔹𝗥𝗘𝗖𝗢𝗠𝗠𝗘𝗡𝗗𝗘𝗗 𝗣𝗟𝗔𝗬𝗟𝗜𝗦𝗧: Trousdale
🔗 • Trousdale
🌐 𝗙𝗢𝗟𝗟𝗢𝗪 𝗠𝗘 𝗢𝗡 𝗦𝗢𝗖𝗜𝗔𝗟 𝗠𝗘𝗗𝗜𝗔:
✅ Facebook: / arvinhaddadofficial
✅ TikTok: / arvinhaddad
✅ Instagram: / arvin_haddad
✅ Twitter: / haddadarvin
✅ LinkedIn: / arvin-haddad-40311b89
------------------------------------------------
🎼 Music Credits:
YT: / thefisher
IG: @mattiagerminiasi
------------------------------------------------
♻𝗥𝗘𝗟𝗔𝗧𝗘𝗗 𝗞𝗘𝗬𝗪𝗢𝗥𝗗𝗦: arvin haddad,zipsmart,dream houses,mega mansion,house design,zillow houses for sale,luxury house for sale,mansion for sale,real estate agent,luxury mansion,luxurious homes,houses for sale,houses for sale near me,modern mansion,property for sale,real estate,luxury real estate,million dollar real estate,luxury home tour,luxury homes,brentwood,brentwood housing prediction,real estate market,interior design,beige house #Arvin_Haddad #ZipSmart #Real_Estate_Agent #brentwood #pacificpalisades # beverlyhills #howtobuyahouseguy #howtobuyamansionguy #livinginlosangeles #Howtobuyahomeguy
𝗧𝗵𝗮𝗻𝗸𝘀 𝗙𝗼𝗿 𝗩𝗶𝘀𝗶𝘁𝗶𝗻𝗴 𝗠𝘆 𝗖𝗵𝗮𝗻𝗻𝗲𝗹
❁*: .｡. (𝗔𝗿𝘃𝗶𝗻 𝗛𝗮𝗱𝗱𝗮𝗱 - 𝗭𝗶𝗽𝗦𝗺𝗮𝗿𝘁) .｡.:*❁
Come on man, your estimation was terrible in this case. It's worth at least 3.5.
Not with those finishes … it was gut renovation
@@ArvinHaddadOfficial Mate, not everything is about finishes. The innovation has value too. You need to update your analytical skills.
@@ArvinHaddadOfficial Having said that, when I buy, I would like you to to do the negogiations cause you hte overpaying. This is great for buyers. I just objected to your incredibly low evalutaion of this unique property.
A great way to look at the real valuation here is this : Would you lend (80% mortgage) to the new owner at $3.5M valuation? I know I wouldn’t and smart money would also never lend on that valuation
Wait - you go by vertigo? And you’re disagreeing with Arvin? Meanwhile the house would cause vertigo - all that spinning around, so disconcerting, never mind the concerns about structural problems. 😂 I have to agree with Arvin about the finishes just making the nausea that much worse
The first thing I would do as a buyer is get at least one replacement unit of every unique part in this house fabricated and put into storage - preferably while the original owner is able to advise on the process. That central unit is very clever, but I wouldn't want the thing to fail and have to wait a long time for a replacement to be made. Hopefully the new owner is an engineer.
Smart
A full replacement unit would be ideal. However, if that's not available, a temporary 'static' component for emergency / backup use would suffice to keep the house's utilities running. While you wouldn't be able to rotate the house until the main '360' center unit is refurbished, you would still have access to all the essential services in the meantime.
There's a predecessor of this kind of building in Freiburg Germany called the Heliotrope Building which dates back to 1994. It's a three story rotating round home of architect Rolf Disch. Actually there are now a total of three such houses in Germany,.... so spare parts should be available.
Central pivot is used on all excavators since 1960s. It never fails at >2000psi, it will never fail at miesly 3bar (water+gas)
@@bockaj74 the seals could break from old age, what are the seals made of?
The fact he came up with a new concept to build a house is amazing in it self😮😮😮
it is an old concept, it is what is use in pressure fillers for decades, exactly.
'It won't sell,' Arvin sips tea 'It sold.' 🤣
Hehehe
Not my kind of house, but this video kept me a warm smile all the way, the former house owner seems very likable♥.
The owner is awesome! What a badass :)
"Do you CARE, if it rotates?" Yep. I concur.
i love this house the engineering on the plumbing is just mind blowing
bro imagine if the seals on that rotating thing breaks and you have sewer water coming in your drinking water
@@alf3071 nothing wrong with a little protein enrichment
@@Invad3rDiz 😂😂
@@alf3071 That's why he installed sensors between the rings, which helps alert if there is a leak. Still fixing a leak is going to be very complicated if there is any structural damage to the rings.
This a piece of engineering, and a project the creator will always have close in his heart.
Note: The property is on Mount Helix. There is a historic outdoor amphitheater at the very top where they do Shakespeare performances a few times in the summer. It's not a crazy concert venue.
The uniqueness of this house is what gave it it's value
Unique is not always associated with high value (small buyer pool)
More likely location and view.
This residence is more of an engineering project than a normal residence. It doesn't change the fact that the owner put his heart into it and you can see how passionately he talks about it. Some time ago you talked about a residence that was supposed to be iconic (FOREST KNOLL Mansion) according to Enes. Do you think this rotating residence can be iconic?
Do you remember your list?
1. architecturally significant
2. some sort of historical importance, cultural impact or a symbolic value
3. aesthetically appealing to multiple generations
4. have some sort of technological or innovation that has never been done before
5. needs to be memorable
Are points 1 and 4 met in this case?
Very cool episode Arvin. Thanks.
There is no comp for that home! People as you know will always pay more to have something very unique no one else has ❤
Definitely, if we just focused on functionality everyone would drive a boring grey car and live in a box-shaped house.
So not true. What you think about is "rare" not unique, rare like a luxury item. " Unique " is a nightmare, if anything break you have maybe ONE guy you can call, you better hope he is avaible 24/7 or you will be doing your dishes/laundry with sewage water for weeks ...
@@Blafard666 That's the same with a rare expensive car no one can fix.
@@cobracommander9138 a rare expensive car can be fixed, just that it cost a lot, and took quite a lot but that aint gonna matter too much because you don't drive it daily anyway. If you want to fix it but at a lower cost, you can go to a trustworthy garage which has experience dealing with that model/brand before. This thing, you have to ask the old owner to help fixing it; and when it really break down, you just have to move out for a while.
My new favourite channel. Love Alvin's knowledge and humour.
Mr. Haddad. What you fail to understand is some people aren't looking for a "wow factor" for their home. Some of us don't care at all what our "friends" think of our home. Views and spacious grounds aren't everything. In fact, they contribute very little. You are from a culture where "wow factor" still has impact. I am not. I am far more attracted to genuine happiness in a home, and that has nothing to do with square footage, number of bathrooms, or lack of hallways. We who have it need not attempt to impress. That's for the arriviste.
I couldn’t agree with you more! Innovation and familial connection are far more important to me than “impressing” a bunch of people I don’t actually give a shit about. 👏🏼🙏🏽
This house isn't for everyone. I personally love it. And I find the other homes you're comparing to, to be architesteral junk. They're basic, cookie cutter with zero personality. They're just bigger suburban homes. And yes, a house is worth what someone is willing to pay for it.
I think the modern home in England is too basic
There's a predecessor of this kind of building in Freiburg Germany called the Heliotrope Building which dates back to 1994. It's a three story rotating round home of architect Rolf Disch. Actually there are now a total of three such houses in Germany,....
yeah but america is the best nation on earth and he was the first here thats all that matters
13:34 - For exactly this reason, I personally have a strong aversion to smart home systems of any kind. Not only do all these smart home gadgets cost extra money, but they also make you dependent on a single provider (or at least an IT support in case you spend the money _and time_ for a system without a service provider)! What happens if that provider goes bankrupt after just a few years, or if the software and hardware are no longer supported?
Not to mention the bugs in the software. I’d much rather have an old-fashioned house, even if it means getting up to turn off the kitchen light, close windows, or adjust the heating or air conditioning...
Or, to put it in the wise words of Sgt. Roger Murtaugh -> _I'm too old for this shit!!_ ;)
Smart home systems are the way to go fam.
I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.
I feel your pain mate, as a fellow retiree, I'd suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $30k in value stocks and digital assets, Up to 200k so far and pretty sure I'm ready for whatever comes.
If you are not in the financial market space right now, you are making a huge mistake. I understand that it could be due to ignorance, but if you want to make your money work for you...prevent inflation
I feel Investors should exercise caution with their exposure and.exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or a licensed expert in order to navigate this recession and achieve potential high yields
Tracy Britt Cool Consulting was my hope during the 'bear summer' last year. I made so many mistakes but also learned so much from it, and of course from Tracy.
She is really a good investment advisor. Was privileged to attend some of her seminars.that's how I started my own crypto investment
wow the former owner is amazing, what an engineering marvel
I think if this system were to break beyond reasonable repair, you would just need to set the house at your desired position and put traditional plumbing and electrical in, as apossed to getting this complex system changed/fixed
Then why pay 5 mil for a house which will required extra cost in the future. Thats the actual question . You can also don't rotate the house and it will be fine but why buy this over engineered house and then not use its function . Instead buy a 5 mil another house like Arvin suggested which have more area and looks more beautiful .
@@Shucasm i agree with what you say a I wouldn’t buy this house if i had the money. I meant more so, even if you dont let the house spin, those connection points will age over time, even with maintenance and eventually fail - it was those circumstances i meant. But yes, many other properties id rather buy first
I am easily mesmerized by contemporary homes. I like how Arvin breaks it down; he is so articulate in his advice.👍
Why does Arvin think size of house is what drives the cost? In our area there are 3000 SF homes that sell for $8M and 8,000 SF homes that sell for $3M. Location, views, proximity to the ocean and the quality of the home is 10000000000X more important that square footage.
The right choice of an investment has always been a big problem for me I know picking a wrong investment will leave a big scar in the future..
I feel sympathy for our country, low income people are now suffering to survive yet inflation and recession keep increasing daily, many families can't even enhance the good cost of living anymore. You've helped me a lot Sir Brian! Imagine I invested $50,000 and received $190,500 after 14 days
Very possible! especially at this moment. Profits can be made in many different ways, but such intricate transactions should only be handled by seasoned market professionals.
Some persons think inves'tin is all about buying stocks; I think going into the stock market without a good experience is a big risk, that's why I'm lucky to have seen someone like mr Brian C Nelson.
Finding yourself a good broker is as same as finding a good wife, which you go less stress, you get just enough with so much little effort at things
Brian demonstrates an excellent understanding of market trends, making well informed decisions that leads to consistent profit
The new owner purchased the rights to the old owners patent. This is why the engineer is so smart and over sold. The old owner baked-in the purchase of the patent. Come’on Arvin, you should know this…
Exactly 😊
Owner is absolutely brilliant. Love him. Although for some reason when watching the engineering portion I just heard Dr Ian Malcolm saying " Yeah, yeah, but your scientists were so preoccupied with whether or not they could that they didn't stop to think if they should". Ok, reviving extinct species and building a spinny house are totally different...just popped in my head. Props to the owner for envisioning something and executing it.
Architecture will find a way.
Another excellent video thank you brother
Maintenance is going to be a nightmare ! Unless you are an engineer yourself.
True that
I'm guessing the sale may have been a cash transaction, as the uniqueness of the construction and the risk factors as Arvin stated would preclude a bank giving a mortgage on the this kind of deal.
In 10 years it will be worth double. There plenty of rich geeks that love this stuff plus its a cool different house.
Volle Zustimmung bezüglich der potenziellen Risiken und es ist wunderschön das sich wer so etwas gebaut hat
I stayed at a hotel where the bed wend around in circles. Love going to the space needle & eating lunch going in a circle BUT i’m not sure I want my whole house to rotate in a circle. FYI: I wouldn’t mind having that rotating bed😊
The plumbing is amazing
amazing till it breaks
@@minigiant8998everything breaks! Nothing is forever!
But I will bet that this system can last much much longer without breaking down, than conventional plumbing!
It's obviously over build and over engineered, unlike your typical conventional house, where you will be happy if the crew wasn't drunk while making the instalations!
Certainly not the most practical house but you can tell they put their heart, soul and brains behind this house, that's what makes it such a wonderful story. Absolutely lovely man and quite intelligentl.
“ … some of my Persian audience in Trousdale …” - This ... cracks me up because it's true. No one outside of here would understand, but the local insider stuff is awesome. Thank you for being you, in this place. 👍
Compared to Artwork & Sculptures, its a deal
Hey Arvin, love your videos. I was wondering whether you were planning on taking a look at Enes's "Touring a $52,500,000 BATMAN Inspired Glass and Steel Mansion" Mansion. That was the video that introduced me to his channel, and the first mansion that took my heart. Hope its flaws don't outweigh its positives . Thanks 🙏🏼
8:12 a house or anything for that matter that is so niche can command insane prices due to uniqueness. You can't compare a spinning house to anything else. There are no comps. I would've listed it for 10 million tbh.
that house really is iconic though. It was presented by a super big science nerd youtuber, and i cannot stress this enough: The house rotates. It is super high up, it is unique, it looks like an observatory (which is a plus), everything about it is unique and it works. Sure its not for some saudi prince who wants to party in a black marble house with a toilet made out of gold, but there are plenty of science nerds around , even ones with money to burn on a wacky science nerd house.
Tom Scott is awesome!! 👍🏻
Next time you make a video, talk about the new commission rules and how that will affect realtors and pricing of houses.
We all get things wrong, even the buyer 🤣🤣🤣🤣
🎵 you spin me right round baby🎵 great video 2x👍
I bet this guys brain is reason why they are building that 360 rotating hotel in dubai xD hes patent must be in that project and my man must had pretty good money out of that 😁
This is basically a matter of opinions. Not much here that is provable on either side. But the house had a binding offer within weeks. And it is one of one. And there are a lot of geeks out there with money. My opinion is that the house is worth the money because I think there would be other buyers willing to pay 5 million. And that's just my gut feeling, no proof available. The art market definitely operates by the theory that something is worth what someone is willing to pay. I think, that until proven otherwise, this house (that could be construed as a piece of art), is worth what it brought.
Amazing engineering to accomplish this vision. That is worth a lot because it's bespoke and special, something no one else has. And he really sold the benefits of being able to reposition the house for the perfect view.
AND!!! By the way…if it was so intrinsically perfect, something ain’t right with them selling it!!!!
What I just heard him say was that it is a FULL TIME OCCUPATION to maintain the upkeep of it!! Ludicrous
So glad you did this video! Tom Scott is one of my favorite creators (his channels - plural - are worth watching) but I loved this video when I saw it. Hard core engineering geek here, but I think maintaining that house would have made me nervous too. (And it didn’t even have a view of the San Diego to LA train!)
What are you talking about? That's a msterpiece! That guy created art! In my opinion, totally worth it! It is every engineer's dream! I wouldn't be surprised if some Tech guy from Tesla, Google, or Amazon bought it! But I get what are you trying to say. I feel this house is for someone who has loads of cash lying around. Not for average people who are planning how to pay their kids college tuitions
you can't put a logical price on something that's unique
Not your usual video critique, but I love your explanation and understanding of the fallacy of what something is valued at, and efficient/inefficient markets.
Rotary unions are pretty common but him making his own is pretty hysterical
Awesome to hear the story from the owner. Glad they managed to get the most out of it.
Would love for you to critique this $85M NYC townhouse next: ruclips.net/video/7v4RulDkr-o/видео.html
You dont need the expensive rotating system if you had made the house only turn 359 degrees and go back again. You can use flexible connections.
I got dizzy just watching the video 😂
A brain 🧠 was used here, that's why it's expensive...but the maintenance is going to be hectic... replacement for tires etc
I love this home!
miss my weekly tom scott
Always started the week with a new Tom Scott video. I miss him too.
I still miss the park bench
If it sold for 5.1 maybe they should have put it on sale for 5.9M!
lmfao this house is legit down the road from my moms house 😂 it’s kind of been an icon on mt helix but I never got to know much about it.
My husband is an engineer, and this is exactly how he would approach building a house 😅
Fun fact: the reason why they sell is to build a vertically rotating house
Couldn't give a s*** about the house but the engineering is fascinating what an incredible guy😊
😂 So you give a s***
It would have to be some solid engineering to pass the city & state building codes.
There’s lots of bigger homes, but this is the only one that spins. Worth every rotating penny!
This isn't a house for just anyone. You have to be a special kind of person to appreciate this house. I see why they say customized homes don't sell because it's so out of the ordinary that most people are likely to skip it
Lucky this guy wasn't his realtor, he would have cost him $3 million.
real estate is bizarre how someone will pay millions for a tiny hole in the wall apartment just because it's in downtown paris or new york, at least this is an actual house with property in sunny san diego
Tom did well 👏
Remember the good old days when the purpose of a home was to live in it and possibly have a family rather than use a luxury or investment item?
It says a lot that his wife on her own wouldn't be able to maintain it because of the complexity. I think he's a good engineer to have solved the problems to make this house a reality. But he would be legendary if he had solved the problem to the point where a totally ordinary person could maintain it in perpetuity.
True--although "perpetuity" is an impossible benchmark for anything more than a lean-to! 😊
When no one is willing to pay for it then the real estate market is worthless.
Another great video. The owner and the person hosting the video that you reacted to are awesome. I kinda disagree with your evaluation. I live in Orange County and even though I don’t go South past Mission Viejo much, I’ve known and heard about the rotating house. I think the house could absolutely be considered an “iconic” property based on its popularity, the fact that patents were actually submitted and created during its design, and its architectural significance. While I wouldn’t pay that much to live there, I could absolutely see why somebody would pay up for it.
Arvin didn't even get into how the interior is extremely dated and the whole place needs to be gutted and redone to modern standards.
Yes the exterior facade and all the interior had to also change ….. I would have priced it higher
Man's a GENIUS.
Do more marbella videos please 🙂
I admire what was done here, and the owner-builder is a great, humble human being, who I'm sure has brought joy to himself and his wife. I respect him, too, because he approached his project from an engineer's curiosity and desire to create, rather than the egocentric concern of some rich jackass wanting to show off. Otherwise, I'm generally adverse to round houses. Aesthetically, this one is not too bad, but it does display the typical design flaw of approximating a circle with a series of flat panels. He used high-quality materials, however, which helps mitigate the effect.
I question the logic of having the sewer section of the unit at the top instead of the bottom; so at least if the seal fails the sewage leak is below the drinking water section.
Those other properties were sold based off of market value of what somebody would pay for it. So yes obviously that house is worth 5.1 because somebody was willing to pay for it. Although that dude found his needle in the haystack. Not to mention the house has its own patents supplied 😮 hopefully this guy has a manual he is an engineer they're very well organized when it comes to their product. Not to mention my guess is he probably built a few spares at the same time even though they have a 75-year shelf life. He's an older man so I don't think it's all that complicated to run and I'm sure they have all the schematics from the ground up. If you're rich you got the money and you want your house to rotate I say pay 5.1 if that's what it takes. I agree with you in the end I would not want to have to sell this house LOL
I dissagree. The last owner solved a big issue in a simple manner. Yes, it has a center piece that can fail once in 75 years and if the access to that piece is ok, changing the seals it's not a big issue.
It's round, you get 360° views, and it spins. The perpective buyer and now new owner thought these features were cool...lol. This is a very unique property and it stands out among the rest. There's no other like it in the area. That means a lot to some people. Therefore, they're willing to pay a premium for it.
In my opinion, it is a bad idea to lay the waste water connection over the drinking water connection: if a leak occurs, which is very likely to happen sooner or later, at least with movable pipe connections, the drinking water quality may be impaired to the point of being unusable. I strongly suspect that the maintenance work for supply pipes will be very expensive over the years, at least if the house is not as good as new, as is the case.
I would have entirely reversed the order of all four.
nobody should be drinking tap water anyway, with it already being contaminated with fluoride.
Well I guess someone really wanted a rotating house. I mean you only need one buyer.
I would never use this guy services, he comes out with weird excuses for why you shouldn't buy the property i have yet to see a video where he actually points out valid reason for why the property shouldn't cost as much as it costs.
I can totally get it being $5 million. It's an extremely unique house, well-engineered, and the SWE and crowd around California would absolutely buy that up, as we saw
if that stuff breaks, you're in for some EXPENSIVE $$$$$$$$ repairs
We are in the future. People like gadgets and motors. Seems like it could have cost 1 million dollars just to get that slip ring certified for gas.
I love your site. Reminds me of university workshop finals
The utilities-could come up-DEAD CENTER- through the hollow center spindle that rotates the house--they would be fixed-
Perhaps the electricity could have a spring loaded contact-like the carbon"brush" on an electric motor/alternator-it would need to be periodically replaced
The water sewerage could also come up from the center-but with a sleeve with bearings and some very good seals-very good bearings very good seals
Oh a house is worth what you can convince someone to pay for it-good salesmen/agents get better prices
Oh-forget about natural gas-it could be done-but friction/heat/boom.
Direct from Accounting Standards Codification 820 - Fair Value. The price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. So YES, what a willing buyer and willing seller agree to and exchange is FAIR VALUE.
With proper engineering (and I assume this guy could have done it) it would be easy the have provisions for stationary bypass piping, in an emergency you could quickly switch over, you just couldn't rotate the house until you fix the problem
I was waiting for a _philosophical_ argument as to why a property is *not* worth _"whatever someone will pay for it."_ However, it appears that Arvin was not being philosophical. Therefore, I'd have to say it's kinda hard to argue that this house is not worth *$5.1 million dollars,* when you just received *$5.1 million dollars* for it. And considering how quickly it sold, that makes it equally hard to argue that this valuation is an anomaly or that this was a Black Swan buyer.
How did this home get insured? There’s no way the electrical system, plumbing, septic, etc passed inspection.
How is an insurance company going to assess risk, when there’s no history of similar systems? It also looks like it’s on a brush covered hillside, which is a fire hazard.
Arvin makes an excellent point: good luck trying to find someone to fix it when something goes wrong. It’s hard enough trying to get a regular tradesman to show up.
I seriously doubt that those seals will last 75 years. Sealing gas? Sealing liquid? Great for a while…
He literally invented the liquid/gas slip ring implementation, so there’s zero historical precedent he can draw on to support his claim that it won’t leak for 75 years.
Even if it does last for another ~50 years, then what? Good luck finding replacement parts.
And you’re taking on faith that his alert monitoring system is working. I’m sure it worked initially, but all components fail over time.
There’s no simple way to do a “confidence test” of his alert system, so the first notice that they’ve failed… will be catastrophic. And no one will be able to repair it in a timely fashion. I wonder if that thought is responsible for a few of his heart procedures?
Still, it’s an awesome location and interesting engineering exercise.
Having had a house in the Hills above Bronson Canyon. I would pay 5.1 because it would be worth it for the experience. What you're paying for is the egineering. A nice place doesn't have to be huge. Yeah I'd do the maintenance.
I just fear that if something breaks on it, gas, sewer, plumbing, electrical…there would be nobody that know how to fix it. And the people that do, would gouge you as much as they wanted to. Want new plumbing? 1 million…. Whatever they choose
His gadget-things like that are used in the petroleum industry.They also have spinning pipes with various "fluids" going up and down.
When he says GAS-I am wondering if he means natural gas-or "sewer gas" the air that is always in normal sewer lines? Or maybe it is NG?
Disagree above 1.9 million dollars. Worth more than that, you have to give some value to the uniqueness of the property which you aren't. Admittedly $5 million is too much , but 3-4 mill isn't unreasonable.
Every same idea that is used in every excavator track machine.
It’s called a hydraulic manifold or distributor. It lets you rotating 360 continuously. 👍🔥
this house will be in architecture books as well as being a local landmark building and frankly 90% of the houses you critique will look dated in 10 years if they don't already. Yes there is a far smaller pool of buyers but much more invested buyers. This house will always sell every time it goes on the market. I can only laugh at what you would value the homes of Frank Lloyd Wright if he was building now.
Fantastic video. This house feels like a work of art and valuation ended up falling on the subjective. Realtors have a fiduciary obligation to give u facts, personal, and professional opinions. Remember, as Arvind says, these homes can be personalized, but in the end, they belong to future generations. Getting this to sell later will be an uphill battle. Realtors have to future-proof your purchase. What u do after all the advice, of course, is up to the buyer.
Something is worth what someone is willing to pay for it is true. Because not everything is a commodity. many things have feelings and emotions attached to them that one person has and another person has no feelings and attachments. An example is when I was a kid. A cereal gave away free plastic ninja turtle bowls shrink wrapped to the cereal box as a promotion. So the cost of this cheap plastic bowl was maybe $2. On eBay they are selling a set of ninja turtle bowls for $1000! Why? Because you have rich doctors and lawyers who have money and will pay for that nostalgia of their childhood.
This moving house has many videos about it and notoriety that no other house has.
I watch your channel all the time and think how cool the homes are across the world. This house is in my neighborhood! You are right! There are WAY better homes on mt helix. That is not a private property. You can see the entire property from the road above. However the views are incredible. Its 15 miles inland and you can see all the way to the ocean unobstructed. Theres a large public viewing area on the peak of the mtn which gets plenty of traffic. I think you're spot on with your review. Its amazing engineering but would be rough to live there. I hope whoever bought it loves it