Wednesday, July 2, 2008

07/02/08 Priced To Sell At $12 Million - Hey Let's Tear It Down And Build Something Bigger!!!!

Estate of the Day: $12 Million Spectacular New Georgian in ...

The elegance of Jeffersonian architecture is redefined in this magnificent 2008 estate embracing two acres with pool and poolside pavilion. The 11800 SF custom manor is measured by extraordinary architectural elements, hand-selected ...

Exotic Excess - http://www.exoticexcess.com/

$12,750,000

16 rooms
6 bedrooms
7 full baths
2 half baths
Interior: 11,800 sq. ft. (approx.)
Acreage: 2 acres (approx.)

Listed By:

BK Bates

Sotheby's International Realty - Greenwich - Pickwick Plaza Brokerage

One Pickwick Plaza

Greenwich, CT 06830, United States

Tel: +1 203.618.3126

Fax: +1 203.869.4303

BK Bates has been in real estate in Greenwich for over 30 years and is considered one of Greenwich's premier realtors. Born and raised in Greenwich, she has a lifetime of experience with all aspects of this wonderful community. She has raised three children and has been involved in numerous organizations and club activities. Her extensive knowledge of town activities and real estate issues benefits all her clients.

More Real Estate News:

Price Drop?

One of our commentators asks, "is a house that was worth $7,500,000 last year now worth $6,500,000? Certainly not in the case of the Thunder Mountain Road house I mentioned yesterday. In that case, the house was never worth $7,500,000, it was just an imaginary figure dreamed up and reported by a broker trying to protect its client's other project on the same road. Although, it must be said, the average price has dropped 14% this year and that would neatly place a $7,500,000 house at $6,450,000 so perhaps the argument can be made. My point about Thunder Mountain Road is that, since there never was a genuine sale at the reported price, it's impossible to tell. Certainly, if you bought a house last year and want to sell it today, brace yourself for some bad news. If you bought before 2000, relax and enjoy your sizeable gain. Anything in between, it's a guessing game, but it could get ugly out there.

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