Michael Jordan Buys Multi-Million Dollar Luxury Home in NC

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Athletic icon Michael Jordan recently returned to his home state of North Carolina to purchase a $2.8 million mansion, adding to his impressive collection of luxury real estate. According to Fox Sports, Jordan’s newest investment is a 12,310 square foot home, complete with six bedrooms, 8 bathrooms, a two-story great room, an enormous pool and spa, personal gym and a multitude of other creature comforts befitting any wealthy homeowner.

Built in 1993, the enormous luxury estate home in Cornelius, NC is only about 22 miles from Charlotte, where Jordan’s pro basketball team, the Bobcats, play. Apparently, Jordan got a great deal on the home in Cornelius, which was originally listed at $3.99 million in 2011. In August 2012, the bank foreclosed on the home and it was later re-listed at $3.49 million. According to a recent Zillow.com article, the home is situated along the serene shore of Lake Norman in a private, gated, golfing community. Pretty impressive digs, huh?

Just in case you were wondering, the monthly mortgage payment for a home that price would be somewhere around $18,750.

As for his other real estate investments, Jordan also owns a condo in Charlotte, a home in Salt Lake City and a place in Jupiter, FL. He also owns a custom home in Chicago, but that property is currently on the market for $21 million. Check out the listing on Zillow here: 2700 Point Drive, Highland Park, IL 60035.

For those that are curious, the estimated monthly mortgage on a home that price would be roughly $75,308.

While most of us can only dream about owning a home that luxurious, current market trends are signaling a return of the high-end home market. That particular real estate segment suffered during and after the housing crisis, but recent reports indicate that the demand for luxury homes is starting to build. According to a recent article from the National Association of Realtors, the global luxury market is doing well, with more billionaires worldwide. The percentage of millionaires worldwide has also grown, increasing 55 percent since 2000.

But millionaires aren’t the only ones who are doing better in the real estate world. Home prices nationwide, for just about every price range, have steadily increased. Likewise, homes are starting to sell faster than before – a welcome change from the days of agonizingly long DOM figures and sluggish buyer traffic. Now it seems that buyers are beginning to compete for properties, with some areas seeing the resurgence of a seller’s market.

Nat Criss is one of the owners of ForTheBestRate.com. Nat has an extensive background in mortgage finance, real estate, and online marketing. Nat was previously the Marketing Director for AAXA Discount Mortgage, a mortgage company which conducted business in 26 states, and currently helps run CMG Equities, LLC and ILM Marketing. My Google Profile+

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