Tag Archives: 5 Tomac Lane

Has the market recovered?

The sellers of these three new listings must think so and perhaps they’re right. I’m pessimistic but then, I’ve always been a kill-joy.

28 Windrose Way, in Mead Point, is a 9,000 sq.ft. house on 2.9 acres with “water views”. The areal view seems to show a large pool on the grounds but the listing makes mention only of an indoor one. If the listing’s accurate, this is one weird layout because you have your neighbor’s pool right outside your living room. I tend to believe that’s not the case. Anyway, the asking price of $17,500,000 makes this about $2,000 per sq.ft. which I find aggressive. Assessed value is $8,000,000.

128 Porchuck sold for $5.2 million in 2003 when it was new. Now, six years older, the sellers ask $6.5. Assessed value, $5 million.

And 5 Tomac Lane, direct waterfront (at high tide) on 0.3 acre, sold for $7.495 million in 2007 and is back on today for $7.7 . Maybe. Assessed value, $4.146 million.


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