- 2819 Cedar Woods Pl. [HAR]
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Northgate Forest
Mattress Mack’s home in Northgate Forest sold back in April for $815,000, reports Jennifer Dawson in the Houston Business Journal. That’s more than a 50 percent discount off the home’s original asking price.
The McIngvales’ 7-bedroom, 6,840-sq.-ft. home at 3002 Pine Lake Trail originally went on the market in May of 2007 for $1.75 million. Three months and a $250K price cut later, John Daugherty Realtors decided that marketing the pad as “The Home of Mattress Mack” might help. But it didn’t, apparently. The price cuts spiraled from there.
Jim and Linda McIngvale’s new home is a 2,000-sq.-ft. apartment on the grounds of their Westside Tennis Club on Wilcrest near Briar Forest, but that’s not necessarily a step down, says Dawson:
While the couple may have a lot less house, right outside the door is a resort-styled pool, family fitness center, lighted soccer field and one of the city’s largest yoga facilities.
- ‘Mattress Mack’ joins neighborhood club [Houston Business Journal]
- Westside Tennis and Fitness
- Previously in Swamplot: Mattress Mack: A Consistent Record of Slashing Prices, Mattress Mack Saves You Money, Mattress Mack Pad Available . . . Today!
Photo of 3002 Pine Lake Trail: HAR
We now have the scoop and an update on Gallery Furniture owner Jim McIngvale’s mansion in Northgate Forest, and it’s a doozy. Yes, it’s still on the market. Yes, the price has been cut. But didja know the extent of the damage?
When last we left the Mattress Mack Pad, it was still soaring at $1.25 million. Well, now it’s down to . . . $885,000. Here’s the timeline:
- May 5, 2007: 3002 Pine Lake Trail goes on market for $1,750,000
- July 5, 2007: Price reduced to $1,499,000 — saving you 14%!
- September 4, 2007: Price reduced to $1,250,000 — saving you 17%!
- October 15, 2007: Price reduced to $975,000 — saving you 22%!
- November 13, 2007: Price reduced to $885,000 — saving you 9%!
Total savings overall: Almost 50% . . . if you buy now!
And here comes the Houston real estate cliche: You can take the mansion way out of the Loop, but you can’t take the “way out of the Loop” out of the mansion.
Or something like that.
- 3002 Pine Lake Trail [HAR]
- Mattress Mack Saves You Money [Swamplot]
- Mattress Mack Pad Available . . . Today! [Swamplot]
Speaking of fame and real-estate listings, we may have an answer to our earlier question about the power of endorsements by celebrities—or local celebrities—to sell houses quickly and at a premium price.
The Northgate Forest estate of Gallery Furniture owner Jim McIngvale—written up here a month ago—is still listed for sale! And the asking price has dropped a quarter of a million dollars.
- 3002 Pine Lake Trail [HAR]
- Mattress Mack Pad Available . . . Today! [Swamplot]
Do celebrity endorsements move real estate? Okay, what about local-celebrity name-dropping, plus a few personal appearances?
This 6,840-square-foot, seven-bedroom Northgate Forest estate has been languishing on the market for almost three months, even though John Daugherty Realtors has been advertising it as the actual home of Gallery Furniture and Westside Tennis & Fitness owner Jim McIngvale—in full-page ads in luxury-home mags. And the Houston Business Journal reports that Mattress Mack himself has been mingling with visiting homegawkers at his own open houses.
Hand the downsizing McIngvales a mere $1.499 mil, and you get:
a dramatic two-story entry with winding staircase; a two-story living room with two-story fireplace, hardwoods and adjacent sunroom; gourmet kitchen with built-ins and quality appliances; breakfast room with built-ins; dining room with hardwoods; and Swarovski crystal chandeliers. Media room, den, weight room, reflection room, game room, extra room and more. Master suite with two-sided fireplace and amazing bath. Olympic-style pool, spa and pool house. Additional five-car garage with apartment above.
What about the furniture?
After the jump, more pics from the McIngvale Mansion.
