$12.5 million, 7 days, multiple bids — sheesh

15 Windrose Way. 1987 construction.

Admittedly, it’s in Mead Point which, to my taste, is our best high-end gated community, and it sits on 2 acres, but, gosh. Some agents I know who are best acquainted with this price range thought it was maybe $3-$4 million overpriced, but none of us (well, except for listing agent Tracy Koorbusch) have fully wrapped our heads around the absolutely huge amount of loose money that’s floating around, and the buying frenzy it’s ignited.

I remember when in the late 80s the venture capitalists had taken over Wall Street, my father, who’d been in finance since 1929 and knew quite a bit about market crashes and booms, simply stopped trying to understand valuations, saying “the Wall Street I knew doesn’t exist anymore”. I’m not quite ready to quit, but some of the sales this year are … baffling.