10 Serenity Lane, Alamo

Having hit the market priced at $42 million back in early 2015, the list price for the 101-acre Alamo estate at 10 Serenity Lane was reduced to $35 at the end of that year and then to $28 million in the first quarter of 2016.

In addition to a nearly 13,000-square-foot “chateau,” the estate includes a state-of-the-art 12,000-square-foot car barn/museum which can accommodate 15-20 cars; a 1,600-square-foot pool house with a one-bedroom apartment; an eight-acre gentleman’s vineyard with mature vines; and a 750-square-foot wine cellar with its own dining area, wet bar, half-bath and temperature controlled storage for thousands of bottles of wine.

10 Serenity Lane Wine Cellar

And having been listed anew for $25 million in September of 2017, but without a disclosed address, the asking price for the estate has just been dropped to $19.5 million or $22.5 million (54 percent) below its 2015-era price.

11 thoughts on “Serenity Now Listed for 54 Percent Less”
  1. “It never went for that high(est) price so it wasn’t real …Blah,Blah,Blah”

    That having been said, we’re still confronted by the mystery of why things are ever so ridiculously overpriced. I think with some of those ‘old money’ estates down Hillsborough way the excuse was that antediluvian and addled owners were simply being humored. But I can’t imagine that being the case here.

    Deluded agent?
    Greater Fool theory?
    Opportunity to get on Socketsite?
    (well at least one of the excuses was validated)

    1. My money is on “greater fool”. Why not? It only costs a few months listing time and if you catch an extra $17M then the time was well spent

      1. Exactly. There’s no harm in asking. (Except sometimes there is a harm, but the risk of an extra $17M may be worth it.)

        It’s a teardown to me, but the land is beautiful.

  2. Wow, it seems like the new asking price is close to what it sold for way back in 2005 (based on today’s property tax assessment of $29.5 million). Am I missing something?

    1. Yeah, I thought that fad had run its course a few years ago. At least the occurrence of over gaudy HDR has diminished over time. And oddly it only now seems to appear for high end properties.

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