Georgia's priciest home hits the market
$45 million, 90-acre estate features private 18-hole golf course


The Atlanta Journal-Constitution
Published on: 03/19/08

The most expensive real estate listing in Georgia has hit the market.

Le Reve, a 90-acre estate on Trammel Road near Cumming, is for sale for a cool $45 million.

Jenny Pruitt & Associates
An aerial view of the 82-room, 47,000-square-foot Humphrey Estate near Cumming.
 
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James Simons, a Realtor with Jenny Pruitt & Associates's Buckhead office, is handling the sale of Le Reve. He said he will use the brokerage's affiliation with Christie's to market the property globally.

"We're going to throw a wide net to see if we can capture someone from around the world," Simons said.

He also plans to showcase the property locally with a series of events later in the year.

Owners Hubert and Norma Humphrey -- who are not related to the late vice president -- are looking to downsize from the 82-room, 47,000-square-foot home on the property.

The couple started building the complex in 2004 after the city of Atlanta denied them a permit to expand their former home on Garman Road. Construction took three years.

Hubert Humphrey is the founder of World Leadership Group, a marketing and mortgage brokerage company.

Designed by Atlanta architect Norman Askins, the four-floor mansion features a 28-foot foyer, two elevators, a 12-car garage, stables, a home theater modeled after the Fabulous Fox in downtown Atlanta, 17 bathrooms, 62 televisions, 300 miles of high-tech wiring and a collection of antiques, furnishings and custom paintings assembled by Norma Humphrey with her three-decorator team.

Le Reve's 18-hole private golf course was added in 2005.

Targeting elite clients

Finding buyers with deep enough pockets to plunk down $45 million for a house requires far more than a For Sale sign and a run of traditional advertising.

Rosina Seydel, an agent with Atlanta Fine Homes launched her marketing effort for a $20 million listing on West Paces Ferry Road late last year. She plans to pay her own fare for a marketing trip to Hong Kong with other agents from the Sotheby's International Realty.

"The people who sell in these price points ... know you've got to get out there," Seydel said in an interview for an earlier AJC story before the trip. "It's all about networking."

Establishing a distinctive personality for the house is an essential goal of the ultra-luxury marketing campaign, agents say.

Most multimillion-dollar houses have names as well as addresses. And their marketing always includes an individual Web site like the one now showcasing Le Reve, www.humphreyestate.com.

Pictures of the home for the Web site and fat, slick real estate marketing magazines are crucial, which means big bucks for the highest-quality photos.

"The photo is probably most important, " said Glennis Beacham, one of Atlanta's top luxury brokers, in the earlier story.

Barbara Malm, another luxury agent with Jenny Pruitt & Associates, said for the earlier story every part of the marketing campaign has to promote the right mood in the buyer's mind.

"You have to sell the charm, the elegance," Malm said. "You have to take someone to the place it was created for."

And then you spread the word among the select network.

"It's just being in the right place with the right people, " said Seydel, who is providing her West Paces Ferry listing as a backdrop for several charity events. "I know that certain people hang out in certain circles, and it's important to get them in there so they can talk about it."

Finding that right buyer can take a long time. Experts estimate that seven-figure properties require a year or more on the market. And the sale can result from an unexpected encounter.

"Sometimes, it's just sheer luck, " Malm said.

On the Web: Humphrey Estate

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Comments

By Mike B

Aug 6, 2008 3:18 PM | Link to this

The owner of this mansion did not use his own money to have it built, but used money from his company to pay for it. His company is on the verge of collapse, and the building he rents from hasn't been paid in over 7 months. Rumor has it that they are going to do a midnight move before the owner evicts them from the office building. The mortgage division is no longer operating and has been shut down. I wouldn't be surprised if this property gets foreclosed on.

By Pat B.

Aug 6, 2008 3:02 PM | Link to this

The company that this guy owns is on the verge of bankruptcy. His company is holding on by thread and he is still taking money from new recruits for the mortgage division when it doesn't even exist anymore. He hasn't paid the rent in over 7 months where his business is located in and rumor has it they are going to do a "midnight move" from it so that the owner won't find out. He is trying to sell this house "which the business paid for most of it" and hit the road. This property probably has many liens on it from people that he owes money to.

By Savannah

May 22, 2008 1:51 PM | Link to this

I am best friends with hubert and norma's grand daughter. she is so nice and i hope she reads this. i have gone over to her grand parents house (hubert and norma) and it is soooooo beautiful! :-) norma and hubert are such sweet people!they are also not braggy about thier worderful house.

By Alex

May 11, 2008 12:42 PM | Link to this

Hubert's business is still doing well, He is very rich, and always will be. In his type of business you need to sell dreams. Being Gaudy is part of it. Everybody that posted anything here if you had 500 Million would do the same thing. I believe his networth is along the lines of 300-500mil. He's just selling the house to move into something smaller. Believe me it's paid off already. THat was a Cash Buy. I was there when he was building it. He is a really nice guy and is one of the best Entreprenuers of our time in MLM businesses, and any business. as he has Multiple businesses, cars, websites, etc.

By Thrash

Mar 26, 2008 12:10 PM | Link to this

Two words: "Accidental Fire". Collect the insurance and call it a day.

By Louise

Mar 26, 2008 12:14 AM | Link to this

nice house! :-)

By Nanette

Mar 25, 2008 9:45 AM | Link to this

WHO THE HELL ARE YOU TO TELL PEOPLE HOW MUCH HOW THEY NEED. IF PEOPLE GO TO WORK MAKE THEIR MONEY LEGALLY THEY CAN BUILD WHATEVER SIZE HOUSE THEY WANT.

By Nanette

Mar 25, 2008 9:45 AM | Link to this

WHO THE HELL ARE YOU TO TELL PEOPLE HOW MUCH HOW THEY NEED. IF PEOPLE GO TO WORK MAKE THEIR MONEY LEGALLY THEY CAN BUILD WHATEVER SIZE HOUSE THEY WANT.

By Nanette

Mar 25, 2008 9:45 AM | Link to this

WHO THE HELL ARE YOU TO TELL PEOPLE HOW MUCH HOW THEY NEED. IF PEOPLE GO TO WORK MAKE THEIR MONEY LEGALLY THEY CAN BUILD WHATEVER SIZE HOUSE THEY WANT.

By UNaffiliated Voter

Mar 25, 2008 6:35 AM | Link to this

I once toured their former Buckhead residence which was plenty grand. Maybe their financial biz is crumbling. There is information available.

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