One of my prior posts is about the 20 Timor Sea home sale last summer and how its lofty, full price sale of nearly $5,500,000 now compares to recent sales of comparable homes in Crystal Cove.
Well, hang on to your hats because 16 Archipelago just sold for $3,650,000.
16 Archipelago is a 5000 square foot, 5 bedroom home with a pool and breathtaking coastline views. 20 Timor Sea is a 5000 square foot, 4 bedroom home with a pool and breathtaking coastline views. You can look at the listings and make your own conclusions, but these homes look darn similar to me. This does not bode well for the value of the 20 Timor Sea home, in my opinion.....Dare I ask our real estate agent friends if 20 Timor Sea is now worth $3,650,000, a shocking $1,850,000 less than its purchase price of a few months ago????
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