This home is a classic representation of the banking failures in the height of the housing boom. Originally listed for $6,195,000 in 2006, it was forclosed on by the bank this year. My astute client was able to purchase this property for $2,950,000. With over 7500 sq ft of living space, it is truly a beautiful home and had it been priced in moderation 5 years ago, it would never have met with the same fate. I believe the buyer is very happy.
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