Greg Turturro's purchase of the historic Pieper Mansion property for $235,000 in April 2006, and its subsequent sale with an asking price of $788,000 four months later, is just another example of real estate investors ruining Payson's real estate market with inflated prices.
It appears to me that it was bought strictly as a moneymaking investment. To triple the price in four months is simply greed -- not just a prudent investment.
If a preservation effort were undertaken, would Mr. Turturro come out a true real estate winner with his asking price of $788,000? And, we wonder what is happening to the real estate values in Payson and why the average family can't even afford to buy a home. Look no further.
Ricki Aiken, Payson