New record for home resale

Glen Creno

The Arizona Republic

Nov. 15, 2006 12:00 AM

A house in north Scottsdale that once was listed for $35 million has sold for $10 million in what one real estate agent called the biggest resale-home deal ever in Scottsdale.

The 25,000-square-foot property sits on more than 10 acres near Happy Valley Road south of the Desert Highlands Golf Club. The buyer is a limited-liability company whose members live in the Seattle area.

The house has been on and off the market for about four years and took some intermediate price reductions before selling this week.

It has an indoor tennis court, an indoor swimming pool, Italian limestone tile, alder woodwork and two one-bedroom apartments. It was built specifically to reduce the impact of allergies.

Valley philanthropists Alan and Irene Weinberger sold the house through their trust. Bob Hassett of Russ Lyon Realty had the listing. He declined to say what the commission check was worth, joking that the deal might let him cut his work schedule, at least for a while.

"I'm going to start working at 6 in the morning instead of 5 for a few days," he said.

The record Valley home sale is $11.4 million for a new house in Paradise Valley. Hassett said that the $10 million sale was the biggest resale deal ever in Scottsdale and that resales are harder to list because they've been built or remodeled specifically to the previous owners' tastes.