Hi Colleen -- As an agent, I'm sure you know that what someone paid for a home has nothing to do with what it's listed for five years later. Maybe the seller has made some huge changes to the home that would warrant an increase in value. The home across the street, 800 sf smaller, sold Oct/2008 for $2.125 million. On the face of it, it appears this home may be overpriced, however without comparing it to the competition, it's not easy to tell. The fact that it's been on the market for over a year, with no price reductions, indicates the price is not right.
I'm more amazed that this home doesn't have any interior pictures or a virtual tour. Not sure what the marketing plan is...
Are you coming down to Florida, or just browsing around in the warmer climes? Have a great week.
Louise Warring, e-PRO, CNS, CSP
Coldwell Banker Residential Real Estate - Mon Jan 19 2009, 06:57