$16.5 million Tuscan-style Paradise Valley mansion sells for $7.3M…less than half its original asking price.

Originally priced at $16,500,000, selling in auction for $7,315,000. That’s less than half the original asking price. I’m sure this is something you don’t hear or see much on million dollar listing, HDTV, Bravo, or any other real estate show/sitcom. It had to come to this, it’s been on the market almost 3 years and listed with some of the top luxury home agents in the business. Desperate times call for desperate measures. It was the right decision and not all bad as it was the top sale in October and still one of the most expensive sales during 2015. In real estate bigger is not always better.

This new, 3 acre estate, with Mummy Mountain as the background, sets a new standard of elegance for PV located at 6721 E Cheney Dr, Paradise Valley, AZ 85253-3580. This stately home, w/ 33,000sf under-roof, welcomes you into a world of flowering courtyards, past stunning stone work, artistic iron, through Hope’s steel doors into light-filled rooms that flow onto patios/gardens. All the fine interior finishes supplied by the JR McDade Co., and the technology is state-of-the-art. Highlights include a dual kitchen, theater, wine room, indoor basketball court/gym, smart guest casita and a spectacular courtyard guest home. The master retreat is spectacular w/ a bath that opens onto a private spa-centered courtyard. The swimming pool complex, with a lazy river layout, is surrounded by sundecks and mtn views. A modern take on an old world masterwork. Continue reading plus check out more photos…

Scottsdale & Paradise Valley Luxury Home Market Update October 2015… During the month of October many of you were planning Halloween parties, haunted houses, trick or treating, and a few were still house hunting. A few of the house hunters with a million dollar+ budget ended up snatching some beautiful properties, 71 to be exact. That’s right during the month of October in the valley of the sun there were a total of 71 luxury homes, mansions, and private estates (as seen above) with $1,000,000+ sales price. Let’s take a look at the top 5 most expensive home sales in Paradise Valley & Scottsdale during October 2015.

Number 1.