BIG DIP FOR KD
Thunder star shoots and misses with Gaillardia home sale
Kevin Durant took a hit with the recent sale of his 3,623-square-foot Gaillardia home and guesthouse, shown, writes Real Estate Editor Richard Mize.
Thunder forward Kevin Durant went backward — way backward — when he sold his twohouse luxury home in Gaillardia. Almost to half court, in fact. County records show how the pricing ball bounced for the 27-year-old basketball star. Durant took a nearly 50 percent hit when he sold his place on Calais Court on March 11 for $925,000.
He paid $1,799,500 for the property, a traditional-style, 3,623-square-foot home with a 2,120-square-foot guest house, in 2011. Durant in 2013 bought two townhomes in Deep Deuce with plans to join the pair into one residence. What happened with the Gaillardia property is anybody’s guess. Durant declined to comment before Tuesday night’s game with the Denver Nuggets. The Realtor who had the listing couldn’t be reached Tuesday or Wednesday.
Another Realtor freaked out at the mere idea of talking on the record about anything to do with home sales and pricing at Gaillardia.
It’s Gaillardia, after all: Upscale, exclusive. Gated for a reason — not that there’s anything wrong with that.
Durant’s home was on the market for 140 days — this time. It was listed previously for almost a year. He first put it on the market in 2013, two years after he bought it, for $1.95 million, about $150,000 more than he paid for it.
Just in case anyone wonders whether this celebrity gossip is
news, the National Association of Realtors itself thought so in 2013, when it reported the listing under “celebrity real estate” on its official website, www. realtor.com:
“Located in Gaillardia’s exclusive and gated Club Villa neighborhood, Durant’s home is situated on a pair of lots that include a main home and a large guest house with a palatial pool area set in between. In all, the property offers five bedrooms, three in the main house and a pair in the guest house, four bathrooms and approximately 5,545 square feet of living space.
“Indoors, the main home sports vaulted ceilings with exposed beams, hardwood flooring and a contemporary spiral staircase. A chef’s kitchen comes complete with stainless steel appliances and a breakfast bar. The guest house has its own kitchen as well as a home theater.”
Durant apparently did not do as some celebrities do: There is no indication that he drastically remodeled the place to some weird personal taste that put it outside the mainstream for Gaillardia.
So, we’re left with the numbers.
Nothing can be deduced from one sale in one neighborhood, although technically Gaillardia comps took a big hit. “Comps” is real estate speak for a comparative market analysis, a list of the last 10 or so comparable home sales in a given neighborhood.
That’s the usual starting point for determining how to price a home for sale. So Gaillardia denizens looking to sell a home can’t be happy with the Durant sale.
But the past year has given them a few other reasons for heartburn, as well, along with some bragging rights.
Last 10 home sales
There were no bidding wars in Gaillardia the past year. Not one of the 10 homes that sold fetched more than the original listing price.
A home on Columbine Way did sell for 98 percent of its listing price, $675,000, which also was 42.7 percent more than the last time it sold, in 2014.
A home on Mistletoe Drive sold for 83.9 percent of its listing price, $1,086,500, which was still 6 percent more than the last time it sold, in 2010, but 13.8 percent less than it brought in 2007.
One on Hollyhock Drive sold for 95.8 percent of its listing price, $575,000, which was 4.5 percent more than the last time it sold, in 2012.
Four other homes sold for significantly less than the original asking price, but the one taking the second biggest hit behind Durant still wasn’t close:
A home on NW Columbine Way sold for $362,000, which was 68.6 percent of its listing price and 86.2 percent of its last sale price, in 1999.
Maybe, as someone suggested, Durant didn’t care about such numbers.
With an annual salary topping $20 million, he can afford not to sweat the details — and that is no swipe on a man who, after all, is paid to concentrate full time on totally different kinds of numbers.
Maybe handlers just got tired of dealing with the property. Kevin W. Durant was the buyer in 2011, but Kevin W. Durant, c/o Morrison Brown Argiz and Farra LLC, CPAs, Miami, Fla., was the seller.
Maybe he got tired of the huge-screen TV and game room in the guest house, which is said to have been the biggest selling point getting him into Gaillardia in the first place.
However he got in, by selling for $925,000 when he bought for $1,799,500, he took a tough loss at home.
Durant apparently did not do as some celebrities do: There is no indication that he drastically remodeled the place to some weird personal taste that put it outside
the mainstream for Gaillardia.