Highest-priced home listed in Sacramento area is this $10 million gem. Take a peek
The highest priced residential listing in the Sacramento region is a stunning, 10,000-square-foot Mediterranean-style home on 21 acres in Loomis — featuring an infinity pool with commanding views of Placer County, a luxury home theater, 1,200-bottle wine cellar and manicured landscaping — that is on the market for $10 million.
“The estate has a high-quality of construction and it comes with all the usual features we might expect, such as a wine cellar, theater room, guest house, infinity pool, bocce ball, and the list goes on,” said Ryan Lundquist, a housing market analyst and appraiser. “The grounds give off a luxury spa vibe and reek of the perfect backdrop for social media selfies for the wealthy.”
The main home on the estate has eight bedrooms, eight full bathrooms, two home offices, six fireplaces and high-end finishing details, such as Ann Sacks tile, Gladding, McBean roofing and hand-cut, imported stone. Also, an incredible waterfall with fountains cascades from the pool area in back of the house, down the property, level by level, into basins.
A two-bedroom guest house adorns the property, as well.
Nick Sadek, the listing agent with Nick Sadek Sotheby’s International Realty, pointed to other amenities that set the home apart from others.
The owner, who is in the construction business, custom-built a state-of-the-art equestrian facility that includes a five-stall barn, two-horse pastures and a 130-by-200 square foot riding arena with an automatic water system, Sadek said. The seller is looking for a larger property with acreage for cattle and more horses, he added.
The entertaining value of the home is another selling point.
“They have an amazing outdoor kitchen with a pizza oven and covered loggia, and they have full screens that come down and are kind of hidden, retracted in the columns,” he said. “So for the summer, to keep bugs out and also to keep some heat out, they have these nice solar screens that actually can come down.”
The home seamlessly flows from the kitchen and family area to the loggia and the backyard to accommodate large gatherings.
The home office is another attractive space, Sadek said. Located on the second level, the office has access to a beautiful covered terrace with a fireplace and outstanding views.
Additionally, the home theater is situated off a living room area, or “overflow entertaining area,” that can be used for “multi-purpose” social gatherings, Sadek said. If somebody wants to watch a movie, there are blackout shades that come down and make the theater room very dark, even during the day.
If it sells for the asking price, the estate would set a new sales record for the region. The home hit the market at the new price less than three weeks ago. The property was previously on the market for $12 million.
“Honestly, for what you get, (the price is) definitely not bad,” Sadek said. “So that’s why we have a couple of serious people, and we have another coming back for a second showing this week. So I’m hoping to get something on it within the next 10 days or so, which is kind of unheard of for the Sacramento area.”
Sadek said potential buyers are coming from the Bay Area. Some are flush with funds from Bitcoin and other crytocurrency, which they could liquidate to pay for the estate.
An added value of the Loomis property is that it’s hard to find a parcel with similar, spectacular views, and then to design and build a compound like the one at 2000 Creekside Lane would not only be time-consuming but the cost of construction would be astronomically higher than when the house was built in 2017, Sadek added.
“We felt it was better just to take it off, and then come back on the market,” Sadek said. “Right now, the market is actually a lot stronger at this point than two years ago, or a year and a half ago. And then just the interest level has been amazing. This time around, we’ve already had a few really good showings, we have a few second showings from potential clients who may be interested. But just the interest right now has been 10 times as much as two years ago.”
The uptick in interest in the property doesn’t surprise Lundquist.
“The top end of the market has seen massive growth over the past year in the Sacramento region as we had over twice as many million-dollar sales compared to the previous year. In fact, there were just over 2,000 million-dollar sales in 2021 compared with under 1,000 the previous year.”
Million-dollar volume represented 7% of the entire market, which was about twice the previous year, he said.
“Part of this luxury-price expansion has to do with explosive price growth in recent years, but it’s also about buyers at the highest prices taking advantage of low mortgage rates and notably being able to work from home. Speaking of Placer County, last year it was home to 37.9% of all million-dollar sales in the region despite only having 22.8% of the region’s sales..”
The highest residential sale ever in the region happened a few months ago when a sprawling $7 million estate in Shingle Springs closed, according to Lundquist. It was second to a Granite Bay home that sold for $6.95 million in 2017.
This story was originally published February 8, 2022 at 9:41 AM.
