California’s new record-breaking property

California’s new record-breaking property

A new price record may be reached in Marin County if a new listing sells for the full asking price. The sprawling northern California estate hit the market last week with a price tag of $85 million according to Realtor.com. This makes it one of the most expensive homes on the market in the state and the priciest home ever listed in that county.

Built in 2012, the five-acre property includes 22,000 square feet of living space, a wine cellar, pool, bocce ball court and guest house. It is unclear who currently owns the mansion or why it's being sold now.

The current asking price is nearly double the current record for most expensive home in Marin County of $47.5 million.

Today, conforming no-point 30-year fixed mortgage rates are averaging 3.875 percent and 15-year rates are near 3.375 percent.

Do you have a question for Real Estate & Mortgage Analyst Mehran Aram? Submit your queries about a home purchase, refinance, or reverse mortgage via Aramco.Biz, social media (#AramcoReport), or over the phone at (866) 381-8888 and your questions may be featured in an upcoming article.