2006 Pricing – enough?

78 Zaccheus Mead

78 Zaccheus Mead Lane sold for $13 million in 2006 and is back up today for the same price. That might do it because the very, very rich don’t seem to be bothered by the current economic dislocation. And of course, there are all those people who now have jobs thanks to Obama.

On the other hand, if I were in a buying mood, I think I’d prefer 27 Oakley, at the bargain price of just $10.750 million, but I’ve always been a sucker for older houses. Interesting, I was just thinking that what we need today are a couple more $10 million plus homes to add to our existing inventory of 45 houses in that category. With nine sales last year, we have only a five-year supply and I’m getting nervous we’ll run out.

By the way, did you know that there was no market – zero – for the $8 -$9 million category last year? Three that asked that much (including 26 Twin Lakes, that had originally asked $15 million) did sell, but way below the ask. Twin Lakes, for instance, sold for $6.6.

27 Oakley


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7 responses to “2006 Pricing – enough?

  1. I’ve been in 78 ZM. It’s lovely although the back yard is truncated. There may be five acres but not five usable flat acres, at least when I was there a few years ago. Maybe they’ve taken down some trees to open it up but I remember the pool being up against a stone wall and feeling closed in. But it was the dead of summer when all the trees were heavily in bloom. Still not bad digs.
    I disagree with your premise that the very very very rich don’t seem to be bothered. I think that’s the group that demands the biggest savings when buying a large house. That’s why they still are very very rich. They carve out deals. However, they must not quibble about their private jets. You can’t believe the endless stream of G-5’s landing over me today, coming back from Indianapolis. Funny article in the WSJ Friday about how so many VIPS flying into Indianapolis had to park their jets VFA (very far away). Rookie mistake.

  2. Cobra

    The disappearing swans (picture #1 vs #2) must be another ap, correct Chris?

  3. Good eye Cobra. Guess they flew away?! Very funny!! Also, each listing has the same fire burning, same cut-and-paste flame image.

    I read a blog called Hooked on Houses and she has regular features of Ugly Listing Photos and this one called 5 Reasons Why Homeowners Shouldn’t Appear in Their Real Estate Listings. It’s a riot.

  4. Oops

    Oops, this vs 11 Skyridge…. This I think.

  5. AJ

    I think Zaccheus Mead is a much more prestigious address than Skyridge. I haven’t been on Skyridge in over forty years, but I seem to recall that it had that bulldozer-cut-out-of-the-woods, new development look to it. Perhaps, it’s acquired some patina since then.

  6. Anonymous

    This one is 5 acres backing into a huge conservation land.