When real estate agents aren't lamenting the low inventory of the current housing market, they're usually complaining that no one is buying the high-end properties. But when an mansion on an acre lot five minutes from DC goes on the market for one and a half million less than the buyers paid normal rules don't apply. Especially if that mansion belonged to former Secretary of State Alexander Haig. The trustees listed this 8,518 square foot home at the end of January and only a few days later it went under contract. The deal was sealed last week for $5,175,000 (which is a little lower than the $5,495,000 asking price, but much lower than the $7M the Haigs paid in 2006). According to the Wall Street Journal the buyer is the president of an international communications/IT corporation relocating to Virginia from California (he learned about the house when he happened to read about it in the WSJ). Will the flag pole stay so the stars and stripes can stand at attention every day?
· Listing: 626 Chain Bridge Road [Redfin]
· Alexander Haig's Home in Virginia Sells for $5.18 Million [WSJ]
· Prior Alexander Haig coverage [CDC]