Mallet Hill Wellington Market Report
Does Mallet Hill in Wellington sound familiar to you? It might based on all the publicity that this small enclave of luxury equestrian estates made the news when Bill and Linda Gates leased a home in this neighborhood for the Winter Equestrian season here in Wellington for $600,000 because their daughter trains and competes in Equestrian events.
Like I reported in the Equestrian Club of Wellington Market Report- these smaller yet high end equestrian communities in Wellington Florida- have to analyzed over at least a year of time to get any adequate numbers for a market report. With Mallet Hill each home is custom built which adds yet another layer in the market report process. Since there are no cookie cutter developer style homes in many of these Wellington Equestrian communities you have to use a lot of appraisal skills in coming up with the right price for one of these listings.
Also, in the upper end of the Equestrian properties here in Wellington you can not judge a home that has not sold in a year as being too high priced because the higher end home over $10 Million are not going to sell in just a few months. It takes a very active marketing strategy and plan to get these specialized listings out in front of the right people for whom it may be a fit.
Mallet Hill is an exclusive gated community. There is only one entrance in to the community but most of the properties are within walking and hacking distance to the show grounds where the Winter Equestrian Festival is held each year. There are 19 homes in this community.
Currently in Mallet Hill of Wellington there are four properties up for sale. One property in Mallet Hill sold within this last year.
The following properties are for sale right now in Mallet Hill Wellington:
1. The lowest priced listing in Mallet Hill is 13831 Quarter Horse Trail for $5,195,000. This home is in walking distance to the show grounds. It sits on 4 acres and has plenty or room to build a 12+ stall barn. There is no barn currently on this property. This home is 4,234 square feet under air conditioned space, has 4 bedrooms and 6 bathrooms and 2 half bathrooms and has a salt water pool.
2. The next lowest priced home available right now in Mallet Hill is 13770 Quarter Horse Trail for $ 7,800,000. This home has a 5 Star built barn that has 10 large box stalls and tack rooms at both ends. The barn is immaculate and absolutely stunning. This home is just steps from the horse show grounds. This home has 4 bedrooms and 6 bathrooms and sits on 3.76 acres of land.
3. This home is at 13808 Fairlane Ct and is listed for sale at $12,999,900. This is the home that Bill Gates just leased for the winter season. He does have first option to buy this home. But is it still listed active on the market. And the seller will only accept serious back up offers. This home is situated on 4.18 acres of land. The home has 8 bedrooms and 6 bathrooms. It is 7,352 square feet under air conditioned space. The total living areas are at 13,939 square feet. This is an amazing custom built home. This home is within steps of the show grounds also.
4. The highest priced home in Mallet Hill right now is at 13700 Quarter Horse Trail and is listed at $15,500,000. This home sits on 9.81 acres, just shy of 10 acres. This home has 5 bedrooms and 4 bathrooms and one half bath. it hsa 5,944 square feet under air but total living areas are at 13,636 square feet. It hs two large covered patios, a library and guest quarters. The barn has 17 stalls, tack rooms, feed rooms and an indoor dog kennel.
13715 Quarter Horse Trail was originally listed at $9,200,000 in January of 2008. This home was overpriced when it was listed at the worst time in Wellington. This house has 4 bedrooms and 6 bathrooms. It has 4,116 square feet under air. It sits on 5 acres right next to the showgrounds. The barn has 18 stalls and is a center isle barn built by '5 Star Builders'. The equestrian area of this property also has 8 paddocks, a round pen and a jumping arena. It also has a 2 bedroom- 2 bathroom guest quarters.
The person who bought this home got a super value at $ 3,375,000 and closed on this property on December 15, 2010. Just the cost of the land and the barn add up to a big chunk of that sales price. This was an usual sale because of the fact that there was non conforming financing involved at the end of last year when jumbo loans were in a mess. This home had been on the market for 1072 days. That is because it was overpriced in the beginning and then sold for less than it was worth at the end.
Most of the Equestrian properties are sold during the equestrian seasons. That is another reason why you will see these homes with longer on the market times. If you are looking to stop renting houses and barns each equestrian season, call us and we will find the right match for your equestrian needs.
Nestor Gasset and Katerina Gasset- Realtors®, CIPS, ABR, SFR, GRI, REOS
