It's been a crazy busy last few weeks for me and I know I'm a few days late in getting this weekly blog post out but it's better late than never! The most expensive home that sold in Arizona last week is so enormous that I had to select one of the aerial pictures to be able to showcase the entire property. This massive 15,000 square foot palatial estate in Paradise Valley sits on 5-acres of land at the foot of the famous Camelback Mountain range. The interior is full of lavish architectural designs reserved only for a property of this magnitude. Columns, arches, crown moulding, floor-to-ceiling windows, and custom woodwork all tie this magnificent home together in to one seamlessly built and styled extravagant home. If there is one aspect in regards to the interior that left a little bit to be desired it would be the kitchen. Although not lacking in any particular item, the kitchen space seems a bit cramped and lacks the same grand appeal as the rest of the home. If I was spending almost $7.5 million dollars on a luxury property I would expect more from the kitchen area myself.
Also a surprising fact about this home is that it was a flip property. Purchased from a bank in June of 2015 for $6.6 million dollars, the investor only needed to perform some minor cosmetic corrections before attempting to re-list the home for $9.495 million dollars. This price tag proved to be far reaching and unrealistic as it eventually sold for nearly $2 million dollars less than the original asking price six months later. Still, all told, I'm guessing this multi-million dollar flip provided a nice profit for the investor who was able to complete this project. Click on the picture below for the full MLS listing:
Size: 15,112 sqft
Lot size: 208,939 sqft
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