In the San Francisco Bay Area, the onetime home of Bing Crosby is listing for $13.75 million.
The late crooner bought the Tudor-style home in Hillsborough, a tree-lined suburb about 20 miles south of San Francisco, in 1963 for $175,000, according to press reports from the time, moving with his then-wife Kathryn Crosby and their three young children from Beverly Hills.
Built around 1930, the Tudor-style home is about 10,000 square feet and has 10 bedrooms and two wood-burning fireplaces, according to listing agent Charles Griffith of Golden Gate Sotheby’s International Realty. The house also has a large ballroom, a dining room that opens to a terrace and a library paneled in English pickled pine. The roughly 3 acres of grounds include a heated swimming pool and a three-car garage with an apartment above it.
The Crosbys moved to Hillsborough because they didn’t want to raise their children in Hollywood, said their son, Nathaniel Crosby, 59. But he said they only lived in the house for about 18 months before buying a larger estate across town, where his mother still lives. (Wall Street Journal)
We know that real estate is a great source of wealth creation over time. The list price of this property is almost 80 times what Bing paid for it in 1963. To put that into perspective, a similar increase over the next 58 years would take the value to just under $1.1 billion. That’s a nice little sum to leave to one’s heirs.
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