The first home to ever sell for over $1 million in Fairview was in June of 2003, about 16 years ago. We didn’t sell that one, however we did represent the seller on the first million dollar home sale in Lucas. That took place more than eight years later in October of 2011.
I remember that Lucas transaction well because we ran into a roadblock on the appraisal. The appraiser refused to go right up the road to Fairview for comparables and there were none in Lucas in that price point. The home was appraised for about $800K, which was ridiculous. We finally got the deal done by moving the financing to another lender and they accepted a new appraisal. It came in at $1 million. Inept appraisers drive sellers and agents nuts.
Today, the average price of a new home in Fairview is $1 Million and Lucas is also seeing many million dollar plus homes coming out of the ground. And now, we’re starting to break the $2 million barrier.
There have already been two $2 million plus home sales in Fairview (the first was ours earlier this year) and we’re about to close on another (shown below). This is eerily similar to what happened 16 years ago. It’s like there was some sort of perceived barrier to crossing that price point, but when a home finally broke it, others started to follow behind.
And that brings us to the beautiful home we have under contract in Fairview. It’s priced at $2.4 million and is due to close in mid-September.
Some homes sit on gorgeous lots but the home doesn’t quite live up to the lot. Other homes are fabulous inside, but the lot isn’t really that special. This home has it all. It’s a true estate home and my guess is it will set the bar for Fairview for years to come.
HERE’S THE LINK to the home. We’ll be removing the pictures after closing so I thought you might enjoy seeing them while they’re still on our site. The home address is 1081 Elm Creek and it’s located in Stone Creek of Fairview.