The most expensive home for sale in the East Bay may be a bargain for the right buyer. The homeowner of a 22-bedroom, 10-bath compound on 21 acres in the ritzy, swanky town of Alamo dropped the price by $12 million after two years on the market, a move that his real estate agent said reflects his motivation to sell the mansion.
The homeowner will likely take a loss from the sale of Fieldhaven Estate, a French-country-style residence that features a geese fountain from the 1800s, an aviary and car barn for 20 vehicles. The seller bought it for $19 million and spent $7 million on upgrades, but is asking $23 million for it.
The price drop reflects a broader cooling housing market in the Tri-Valley — and throughout the Bay Area — due to rising interest rates and economic uncertainty. Real estate agents say homebuyers remain attracted to the Tri-Valley’s three most opulent, luxury home neighborhoods — Alamo, Blackhawk and Diablo — despite the market, but it can take a long time to sell these higher-priced properties…