|Lindner's Home Hit by Housing Bubble|
In case you are wondering , the 5,041-square-foot house has 10 rooms, including five bedrooms. It was built in 1950 and is rated in excellent condition. There is a pool, tennis court and bathhouse. The auditors say the land is worth more than the improvements. The property taxes are $20,967.86 a year.
Across the county, the most recent reappraisal cut about $5 billion from the value of all land and improvements. It was about an 8% drop. Lindner's hometown of Indian Hill -- perhaps the county's poshest community -- saw values fall by 12%. Elwood Place, a suburban village at the opposite end of the economic spectrum, was hit by a 22% drop in property values. Foreclosures were devastating the town.
As for housing stock, Lindner's was slightly larger than Apple CEO Steve Jobs' $8.45 million pad in Palo Alto. Jobs died of pancreatic cancer at home 15 days before Lindner passed away. Silicon Valley home prices are still going up.