Monday, January 7, 2008

$12 Million Strait Lane Home Back On Market

They don't get much bigger than this house featuring almost 16,000 square feet, 7 full baths and 6 half baths (seriously, 6 half baths?), 5 car garage, tennis court and an elevator that takes you to the wine room all on 2.38 acres on one of the most expensive streets in the country when it comes to real estate. But here's the kicker. This thing isn't even completed! The landscaping and pool is flawless but the interior was never completed. I've walked through this one and it was definitely left high and dry by the owners. I heard from the listing agent that the husband became ill and the house dropped to the bottom of life's priority list which is certainly understandable. But with virtually no flooring or ceilings in the place I can imagine someone is going to have to spend a pretty penny finishing this one out. The other thing is that when homes have been left vacant for as long as this one has (close to a year I think) and has never been lived in I can't imagine what is in need of repair. That's just wrong when it comes to "new construction". This is an estate in the truest sense of the word and I'm not sure why the contract just fell out but I'm sure it had something to do with the cost of deferred maintenance and the costs associated with that. But I hope someone will hurry and snatch it up. Another vacant year and this home is going to be racking up more deferred maintenance costs. And when you're talking about cleaning up 16,000 square feet of sheet rock or lack thereof, that can be pretty pricey I would imagine.

Why not just buy this one? It's practically right next door!

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