2 luxury homes have been sold after years on the market, in east and west Erie County
Two lakefront homes that had been for sale off and on for years are for sale no longer.
The homes, on Pinegate Road in Fairview and on East Lake Road in Harborcreek, were sold this spring, both for about half of their original listing price.
Pinegate Road
The French provincial-style home at 7000 Pinegate Road is on 10 acres overlooking Lake Erie and was sold for $1.3 million May 25.
It was listed for sale in September 2009 and was priced as high as $2.695 million in August 2016, according to Zillow.com.
"The house is so large and needed some updating, and not everybody is capable of doing that," said Kathe Rafferty, of Howard Hanna Real Estate Services. Rafferty sold the property.
The house was built in 1984 for Erie ophthalmologist Subramanyam Segu. It has 9,681 square feet and 23 rooms, including seven bedrooms, 7½ baths and three kitchens. There's also a nine-car garage, an attached three-bedroom guesthouse and massive indoor pool.
Interest in the home was intense, Rafferty said.
"People drove in from Washington, Virginia and Boston to go through the house. I spent a lot of hours showing it," Rafferty said. "It was fun to do, and interesting to see people's reactions. They couldn't believe the price; you couldn't build an all-brick house that size for anything close to that today."
East Lake Road
A 16-acre lakefront estate with three homes at 8424 East Lake Road was sold for $875,000 June 1 by Jake Scheloske of Agresti Real Estate.
The property was listed for sale for $1.9 million in December 2014.
"It was a challenging property to sell because of its uniqueness," Scheloske said. "It's a beautiful property in a beautiful lakefront setting, but the houses are a little dated and a lot of people looking for property in the $1 million range in Erie want one big, updated mansion."
The property includes a four-bedroom main home, a two-bedroom home previously occupied by a caretaker, and a four-bedroom lakefront home. Combined size is 8,935 square feet with nine bathrooms plus a 10-car garage.
There's also an in-ground pool, pool house, boat house, a ravine through the property and an on-site gas well providing heating fuel.
"It really is one of a kind," Scheloske said.
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Not always a quick sell
Homes in the seven-figure range aren't always easy to sell. As listing prices rise, the pool of qualified buyers shrinks. And even lakefront homes can remain on the market for some time.
"With lakefront homes, everybody thinks that you wrap it, put a big bow on it and it sells," said Marsha Marsh, of Marsha Marsh Real Estate Services, a leader in high-end home sales in the Erie region. Marsh previously listed the Pinegate and East Lake Road homes.
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"Some really great homes, even on the lake, haven't sold right away and haven't sold for full price," Marsh said. "The good news is that some homes that have been on the market for a long time are selling this year."
Contact Valerie Myers at vmyers@timesnews.com.
This article originally appeared on Erie Times-News: Thinking of buying these Erie luxury homes? Sorry, they're sold.
