Luxe Life

Own Your Own Town: Albert, Texas, for Sale

By Kimberly Castro

Posted: February 18, 2009

If you've ever had aspirations of owning your own town but didn't have the means, now might be the perfect time for you. The ghost town of Albert, which encompasses 13 acres nestled in the Texas hill country, 20 miles east of Fredericksburg, is up for sale. Price: $883,000.

The town's features include an 85-year-old dance hall, an icehouse and beer garden, a creek, a historic limestone schoolhouse (attended by President Lyndon B. Johnson in 1920), pecan and peach orchards, and a three-bedroom, two-bathroom home.

Albert had 50 residents in 1925 and only 25 in 2000, according to the Handbook of Texas . By 2007, the town was nearly abandoned. A worn-out sign reads, "Population 4." Just think: You can be the mayor and chief of police!

In March 2003, Bobby Cave, a business owner from Austin, bought Albert for $216,000. The ultimate American dream may have been too much responsibility, however. In October 2007, Albert was put up for sale on auction website eBay, with a price of $2.5 million.

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Luxe Life

Luxury is no longer the sole province of the elite. Upscale goods and services now target a much broader market. Kimberly Castro, deputy business editor of U.S.News & World Report, takes a look at the luxe life, from fine wines and cars to high-end real estate and wealth management. Though no elitist, Kim does admit a fondness for a bold bottle of Scout's Honor from Venge Vineyards and satiating her wanderlust in Europe.

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