Georgia's priciest home hits the market - $45 Million

$45 million, 90-acre estate features private 18-hole golf course

By JULIE B. HAIRSTON
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.

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.