Both great houses and both look like firmly 2001 pricing. it was a short sale and ended up selling a few hundred K below the list price. A “free open market” sale probably could have gotten a tad more. The second listing was actually the model and sold for $1.18M in 2000 so it was already landscaped and ready to go. I had a client look at it about a year ago when they were trying for $2.1M (we laughed). The $1M+ market is really tough now because there is the perception that there is no decent financing out there. Buyers look at at 8% rates and say they want 5% just like the conventional market. Of course they dont factor in that the 5% rate is gov’t subsidized by a percentage or two.
