Dreamers:Feast your eyes on the above island in the Florida Keys with house built by a "major recording artist" some years back and which is dropping in price precipitously over the past week. This house has been on the market since September 1, 2006 and has still not found a buyer.
Here is the MLS description of this mansion:
Private Offshore Island With 3/3.5 Luxury Home In The Keys! Owned & Improved By Major Recording Artist W/ New Pool, Hot Tub, Central Air, Concrete Pier, Jet Boat, 35kw Generator In Sound-proof Shed, 850-gal/Day Desalinization, New Electric, New Landscaping & High-end Finishes. Self-contained, 70' Onshore Lot W/ Concrete Dock, 3-story Custom Home, 360 Degree Ocean Views, Impact Windows & More.
Here are the stats:
Status: Active
Original Price: $10,000,000
Prior Listing Price: $3,799,000 (this change just 7 days ago)
Listing Price: $2,995,000
Address: 0 Melody Key
Key/Island: Summerland Key
Subdivision: Misc Summerland Key
Mile Marker: 28.0
Prop Type: Single Family
Days on Market: 1376
Bedrooms: 3
Bathrooms: 3.1
Square Ft. 2,822
Price Per Sq. Ft. $1oo.00
Lot Sq. Ft. 0
Year Built: 1992
Taxes: $14,800 (subject to change)
Tax Year: 2005
Exemptions: None
To see more photos of this house, click here: PHOTOS
At least the Realtor for this listing hasn't been playing games by taking the house off market and putting it back up a half-dozen times to try and hide it's real loss in value over the past 1,376 days.
How low will this one go? Well, since September 1, 2006, it has already lost more than 70% of its value. I'll wager this one loses another 20 to 50% from its current listing price of $2,995,000 before it is all over.
Stay tuned.
Rock in Paradise
