Saturday, October 28, 2023

Even the listing agent thinks price for buzzy Calif. home is too high - SFGATE

This home at 6884 Poco Lago in Rancho Santa Fe has sparked attention for its flashy interior. 

This home at 6884 Poco Lago in Rancho Santa Fe has sparked attention for its flashy interior. 

Photo courtesy of Wilian Menezes

A home listed for sale in San Diego County has sparked attention for its opulent, European-style interior and steep price point. 

The house at 6884 Poco Lago in Rancho Santa Fe was sold to its current owner for $1.4 million in 2014 but is listed today for close to $20 million. Listing agent Wilian Menezes highlighted all the work that was put into its interior, which includes upholstered walls, marble fireplaces and gold-painted furniture — even a gold toilet. 

“It’s very unusual. It was a five-plus-year project,” Menezes said. 

The master bedroom at 6884 Poco Lago in Rancho Santa Fe.

The master bedroom at 6884 Poco Lago in Rancho Santa Fe.

Photo courtesy of Wilian Menezes

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The home’s listing describes it as being “inspired by the grandeur of the Palace de Versailles,” complete with marble imported from Turkey and Italy, hand-painted gold accents throughout each room, and “only the most prestigious brands of furniture and lighting fixtures.”

However, in a TikTok video made about the house, user @zillowtastrophes expressed skepticism about its new additions and price point.

“The listing says it’s your own mini Versailles, but Versailles doesn’t have LED lights lining their portraiture,” she says in the video. “You’ve got to have a screw loose to have a giant reprint of Napoleon in your living room. In a $20 million home, I’d expect some real art.” 

The interior of 6884 Poco Lago in Rancho Santa Fe.

The interior of 6884 Poco Lago in Rancho Santa Fe.

Photo courtesy of Wilian Menezes

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Menezes said he expressed to the home’s owner that its listing price is likely too steep to realistically attract any buyers. 

“I don’t sugarcoat anything; I’m very straightforward,” he said. “I told them that this price is way higher than I would price it.” 

The median home price in Rancho Santa Fe is around $6 million, and homes there typically sell after 62 days on the market, according to Redfin data. Menezes said if he can’t find a buyer for the house within 60 to 90 days, the price will likely be lowered. 

“[The seller] has to justify all the money he put into the house, even though the market today is a very different market from 2020 and 2021,” Menezes said. “There are a couple houses in the area that have the same style as this one, but not as strong or elaborate. They’re in the $12 million or $13 million range.”

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A bathroom inside the house at 6884 Poco Lago in Rancho Santa Fe. 

A bathroom inside the house at 6884 Poco Lago in Rancho Santa Fe. 

Photo courtesy of Wilian Menezes

The seven-bedroom, nine-bathroom house sits on 2.7 acres and is less than 10 miles from the coast. 

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