+359 52697777
info@allbulgarianproperties.com
Search   Properties
Elvis made just $1,000 down payment for Graceland

Elvis made just $1,000 down paymentfor 'Graceland'.

Elvis made just $1,000 down payment for GracelandGraceland is a large white-columned mansion with a 13.8-acre (5.6 ha) estate in Memphis, Tennessee, which Elvis Presley bought for his parents. In early 1957, Presley gave his parents a $100,000 budget, and asked them to find a "farmhouse" type property to purchase. At the time, Graceland was located several miles beyond Memphis's main urban area. In later years Memphis would expand with housing, resulting in Graceland being surrounded by other properties. The official purchase was made with just a $1,000 down payment on March 19, 1957.

Since then, Graceland was listed in the National Register of Historic Places on November 7, 1991 and designated a National Historic Landmark on March 27, 2006.  This and the fact, it was home to the king of Rock and Roll, undoubtedly increased the value of the property today. However, Elvis Presley Enterprises, which oversees Graceland, couldn't put a hard number on it, because according to them everything in the mansion is priceless.

Graceland reportedly served as a base for the "Memphis Mafia," an eclectic group of friends who fed off Elvis' success, according to History.com. Now the mansion reportedly ranks as the second-most-visited house in the country. Elvis Presley died at the estate on August 16, 1977. Presley, his parents Gladys and Vernon Presley, and his grandmother, are buried there in what is called the ‘Meditation Garden’. A memorial gravestone for Presley's twin brother, Jesse Garon, is also at the site.

In early August 2005, Lisa Marie Presley sold 85% of the business side of her father's estate. She kept the Graceland property itself, as well as the bulk of the possessions found therein, and she turned over the management of Graceland to CKX, Inc., an entertainment company. The newest attraction is a yearlong exhibit devoted to celebrating the life and legacy of Elvis, called "Icon: The Influence of Elvis Presley”. The Graceland archives team and Rock and Roll Hall of Fame and Museum joined forces to produce the exhibit, which will run until February 2013.


Domaza - Properties

Previous news
20/04/2012 09:21:15Flying prototype car - no longer pure fiction
The aerospace company Terrafugia developed the first Transition Street-Legal Airplane prototype   The impossible dream may soon be reality, as the Terrafugia executive promised to have the final product ready for customers as soon as next year. The pilots and engineers from the Massachusetts Com...
20/04/2012 09:20:48The super eco-friendly house
Husband and wife Karl Wanaselja and Cate Leger designed and built their ‘recycled’ California home in one of Berkley’s oldest residential areas. The eco house is made entirely from reclaimed wood, pieces of junkyard cars, and an old shipping container. The owners really put a lot of thought and man...
20/04/2012 09:20:32The American Versailles is on sale
One of the biggest houses in the United State called Versailles (don’t confuse it with the one in France) needs a buyer who is looking for a home larger than the White House estate. The unfinished lavish 90,000-square-foot Floridian mansion is threatened with foreclosure, which prompted the owners to put it fo...
20/04/2012 09:20:16Property prices still record high in Hong Kong
Prices remain high in Hong Kong, which prompts the risk of a property bubble, warns the Financial Secretary John Tsang, who also said that if there are signs of overheating of the market he will introduce more cooling measures. The growth of prices in the last two years is due to the rich investors switching ...
20/04/2012 09:19:56Decline in the volume of global commercial property transactions
The latest market report from Jones Lang LaSalle shows that sales of global commercial property have gone down with 23% since the beginning of 2012, transaction volumes currently amounting to $75 billion. However, it’s not all bad news on the property market; the underlying attractiveness of real estate contin...
Random Articles