Resort-like Loomis estate sells for $4 million, fetching highest price in region for 2020
A 10,000-square-foot mansion in Loomis is the highest residential sale so far in 2020 in the Sacramento region after the deal closed this week for $4 million.
The sale of the six-bedroom, nine-bath estate, sitting on three acres with resort-like amenities, is also the highest ever seen in south Placer County, excluding the exclusive Granite Bay area.
“Above $4 million dollars is still rare territory for Sacramento as there have only been about a dozen or so sales that have eclipsed that price point,” said Sacramento home appraiser Ryan Lundquist, who studies the market. “This home is just outside the top 10 list for highest sales ever in the region.”
The home, at 6110 Terracina Cout, also features a six-car garage, 18-foot-long kitchen island, custom movie theater, temperature controlled wine room, billiards den, guest quarters with its own private entrance and a sparkling infinity pool. It offers a basketball court and barbecue area with an outdoor, covered living room.
“This one-of-a-kind private luxury estate lives like a single story and is situated on almost three gated acres in the back of Loomis’ most sought-after neighborhood ... Terracina Estates,” according to the listing.
Richard Goore of Coldwell Banker Realty-Sacramento Sierra Oaks, who represented the buyers, said his clients are retired and lived in the greater Sacramento area.
“One of the things when we started looking is they wanted a ‘wow’ factor, and not just in size but in the details, too,” Goore said. “A lot of (homes on the market) are nice and big, and then they’re just ‘big.’ “
The attention to detail in the house and the way it was built struck the buyers, Goore said, beginning with walking through the big front door into the entryway and “seeing all the way through to the unbelievably landscaped yard, and that was one of things that just caught their eyes when we got there.”
The buyers, wanted a home that fit the way they are accustomed to live, said Goore, who declined to identify them.
“They love movies so the theater room was important, and this one had a significantly larger one than they currently have,” he said. “So that was a big plus. And the expansive one story was also of interest to them. And in this case, the architecture and level of customization really needed to speak to them.”
The buyer spent a lot of money, but also got a lot of home.
“This home is an outlier, but there is a reason it sold this high also,” Lundquist said. “Buyers these days are looking for homes that check all the boxes and this one did not disappoint at over 10,000 square feet in size, nearly three acres, a six-car garage, a choice location, infinity-edge pool, and upgrades throughout.”
Pricing still matters on such high-end listings, he added.
“In many cases the highest-priced listings in town never end up selling because they’re simply priced beyond what is reasonable for local and even Bay Area buyers. At the moment there are ten listings above $4 million in the region. Will they sell and break records or be withdrawn from the market after nobody bites?”
The COVID-19 pandemic didn’t factor into the Loomis transaction, Goore said, but was simply a matter of timing.
However, Lundquist noted he has seen how the coronavirus has affected the real estate market as far as what potential homebuyers are looking for in a property.
“The high-end market has been ultra competitive, too, as housing inventory has dropped in recent months and demand has increased among local buyers and Bay Area transplants,” Lundquist added. “The pandemic has helped create buyers who long for more space, more house, and an ideal place for quarantining. In fact, these past few months in the region we’ve seen buyers notably targeting larger homes, and even homes with built-in pools have seen a 4.2% increase in 2020 so far. “
This story was originally published August 27, 2020 at 8:44 AM.
