39427 Silver Pine Ct
39427 Silver Pine Court closed escrow yesterday. This was a short sale and had multiple offers on it. It previously sold on 2/6/2006 for $1,700,000. The seller put it back on the market a year later for $2,299,000 and has chased down the market ever since (it was on the market for 695 days). Below are the stats for this sale.
List Price: $995,000
Sales Price: $925,000
List Price/Sales Price: 93%
Days on Market: 695
Sales Date: 11/10/2009
Sold Price Per Square Foot: $164.91/sqft
You can tell this property was very impressive in the early 90’s. A lot of unique custom features. It has a huge great room with vaulted ceilings, lots of pine and cedar wood throughout. 128′ along the lake. Unique roof angles, tall ceilings, and a lot of square footage….So why did it take so long to sell and why was the price per square foot so low?
It sits next to Pleasure Point Marina.
View of Pleasure Point Marina from back deck
It’s a shallow water lakefront
Deck View looking the other way
It was a short sale and needed updating
Lock for Front Door was a Pad lock
The buyer got a good deal when you look at what they paid from a price per square foot basis. But they’ll need to pour some money into it, they’ll have to put up with the traffic from Pleasure Point Marina, and it won’t always have water in front of it. But I can see why there was multiple offers. I imagine the new buyer will put it on a rental program, wait for the water level to rise and they’ll have a nice large lakefront home to enjoy.
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Price Reduced: 39427 Silver Pine Court Drops Their Price Again (BBLFI- 10/4/2009)
