Expensive Listings Highest-priced historical listings for Southeast Tennessee and Northwest Georgia: * $10 million: A three-story home, built in 2008, with about 22,000 square feet on 3 acres at 8843 Forest Creek Lane, Ooltewah, listed for sale in October. The home was also for sale in 2010 for $9.8 million. * $6.5 million: Castle in the Clouds, with 53,000 square feet and on 220 acres was listed for sale three times in 2006 and 2007. The listings for the Cloudland, Ga., home were placed before construction had finished. The property is described as having a spring-fed lake and a waterfall. * $5.3 million: The Windy Hills Estate, with a 9,000-square-foot home on 10 acres at 2363 Heavenly View Drive, Ooltewah. Built in 2002, it listed in 2013. * $4.9 million: An Elder Mountain home with 17,500 square feet on 8 acres at 1000 Skillet Gap Road was listed 2009-2010. Built in 1994, its listing touted the home's 3,000-square-foot indoor pool and views of the Tennessee River Gorge. Pricey Purchases * $4.15 million: An eight-bedroom brick home with about 9,000 square feet on 13 acres at 1609 Edgewood Circle, Chattanooga, sold in 2012. * $3.25 million: A nearly 11,000-square-foot home on 67 acres at 7230 Sylar Road, Ooltewah, sold in 2006. * $3 million: The Windy Hills Estate at 2363 Heavenly View Drive, in Ooltewah, was originally listed for $5.3 million. It sold at auction for $3 million in 2013. Source: The Hamilton County Assessor of Property, Multiple Listing Service
Exaggeration has become a hallmark of today's times. Everyone is bent on calling this or that the "biggest" or "best" or some other superlative.
This case doesn't need stretching.
The 22,000-square-foot home on 3 acres that's for sale along Forest Creek Lane in Ooltewah is practically a palace and most certainly a mansion.
Its $10 million asking price makes it the most expensive home ever to be listed for sale in Southeast Tennessee or Northwest Georgia, according to the Multiple Listing Service.
A few of its features: custom copper gutters, bronze and alabaster chandeliers from Spain, marble statues of lions imported from Corinth, Greece. It has a heated pool and a grand circular driveway with a sparkling tiny man-made pond. Inside is a walk-in closet that, as expected, could easily match a small apartment for size. There's also a ballroom, a butler's kitchen and, of course, the appliances are top of the line: Sub Zero, Bosch, Miele.
The three-story home ... ahem, mansion ... listed once before, in 2010, for $9.8 million -- the second highest historical price tag for the region.
This 22,000-square-foot home in Ooltewah is for sale.
This 22,000-square-foot home in Ooltewah is for sale for $10 million, the highest price tag ever for a home in Southeast Tennessee or Northwest Georgia, according to the Multiple Listing Service. It was for sale in 2010 also, for $9.8 million.
This 22,000-square-foot home in Ooltewah is for sale for $10 million, the highest price tag ever for a home in Southeast Tennessee or Northwest Georgia, according to the Multiple Listing Service. It was for sale in 2010 also, for $9.8 million.By comparison, the highest price a home has ever sold for in the region is $4.15 million, according to the Hamilton County Assessor of Property and the Multiple Listing Service. Billy Oehmig, whose father was the founding member of Commerce Union Bank, bought the Edgewood Circle home in Chattanooga in 2012.
Today's $10 million price tag surprised several of the most seasoned local real estate agents.
"It's going to be a very tricky sale," said Jay Robinson, who has spent more than two decades selling homes in the Chattanooga area, including the aforementioned most expensive on record. "It's so custom."
Indeed. The listing makes a point of that, noting that the home was "built to the most exacting specifications" and that "every detail has been meticulously planned."
A considerable number of homes have sold in recent years for up to about $2 million. But once the cost rises beyond that, many people prefer to buy land, and then build their own dream home, some agents said.
Otherwise, "they're buying someone else's desires," said Linda Brock of Prudential Realty in Chattanooga, who has been involved in several high-end sales.
That said, Brock noted that some buyers might buy a niche, higher-priced home because they prefer not to spend time creating their "perfect" home and then waiting for it to get built.
This 22,000-square-foot home in Ooltewah is for sale for $10 million, the highest price tag ever for a home in Southeast Tennessee or Northwest Georgia, according to the Multiple Listing Service. It was for sale in 2010 also, for $9.8 million."I think it's going to become more and more a part of our buying future that people will buy because of time. If they see a value they will purchase it," she said. "Busy people who have the capability to buy luxury homes also want to have the luxury of their time."
A home's location might also be as desirable as a home itself would be, she said. "You can't always duplicate the location."
It's unclear why the owners are parting with their pricey digs, built in 2008. The Hamilton County assessor lists the owners as Angela Hodges and Scott Hodges, who is an orthopedic surgeon with the Center for Sports Medicine and Orthopaedics in Chattanooga. Neither could be reached for comment.
Sometimes familial situations change, prompting a move, real estate agents said.
"It takes a long time to build a house, and by then maybe the kids have moved out," Robinson said.
The sheer scale of a large home also can change owners' minds.
This 22,000-square-foot home in Ooltewah is for sale for $10 million, the highest price tag ever for a home in Southeast Tennessee or Northwest Georgia, according to the Multiple Listing Service. It was for sale in 2010 also, for $9.8 million."A lot of times people decide it's more maintenance than they want, and more house than they want," he said.
They might even decide to sell before construction is done.
The MLS listings for Castle in the Clouds in Cloudland, Ga., tell that story. The castle, and it looks like one, would have 53,000 square feet when it was done and sit on 220 acres, according to its three $6.5 million listings in 2006 and 2007. One listing notes, "the Castle building is still under way ready for you to envision and complete as you wish," or buyers could keep going with the sellers' plans.
Sometimes owners have to settle for a lot less than they hoped to get at the negotiating table and far less than they put into the home.
Elizabeth Fuller, wife to late trucking magnate Clyde Fuller, built Windy Hills Estate on Heavenly View Drive in Ooltewah in 2002 to be her dream home. A decade or so later she no longer used it. The mansion, which cost $15 million to build, hit the market in 2013 for $5.3 million. It ended up selling at auction for $3 million.
Contact staff writer Mitra Malek at mmalek@timesfreepress.com or 423-757-6406.