Browse
Log in / Register
Share
Baseball Hall of Famer Pedro Martinez has listed his Winchester, Massachusetts, home for $1,995,000. This property, which he purchased for $1.3 million in 2018, offers a unique opportunity to own a piece of sports history combined with a spacious family residence just north of Boston. The decision to sell is based on our experience assessment of Martinez's relocation to his Florida property, highlighting a significant real estate transaction for potential buyers and investors.
What are the key features of Pedro Martinez's house?
Built in 1995, the home spans 5,120 square feet on over an acre of land. The five-bedroom, 3.5-bathroom residence features a traditional design. Key interior amenities include an open layout connecting the living and dining rooms to the kitchen, a primary bedroom suite with a fireplace, a walk-in closet, and a soaking tub. The lower level is equipped with a dedicated office, a home gym, and a professional hair and makeup studio, reflecting the needs of Martinez and his wife, Carolina, for their television careers. A large deck off the family room provides views of the extensive, verdant backyard, enhancing the property's appeal for indoor-outdoor living.
How does the local real estate market influence this sale?
The Winchester, MA, real estate market is characterized by high demand for single-family homes in suburban settings with proximity to Boston. A key factor for buyers to consider is property tax, which is an annual tax levied by local governments on real estate. The listing price of $1,995,000 positions this property within the upper tier of the local market. Based on our experience assessment, properties of this caliber in Winchester often attract buyers seeking premium amenities and significant lot sizes. The current market dynamics suggest that well-maintained homes in desirable locations continue to hold their value, making this a noteworthy listing.
What should potential buyers consider during the transaction process?
For those interested in a property of this nature, understanding the transaction process is crucial. This involves securing financing, conducting inspections, and obtaining title insurance. Title insurance is a form of indemnity insurance that protects the buyer and lender from financial loss due to defects in the property's title. Given the sale price, buyers will likely need to navigate jumbo mortgage lending requirements. We recommend working with a qualified real estate agent and a real estate attorney to ensure a smooth closing, the final step in a real estate transaction where the property title is transferred to the buyer. The property transfer tax, a one-time fee imposed by the state on the sale of real estate, will also be a factor in the final closing costs.
This property represents more than just a home; it's a connection to a legendary sports career. The sale includes the unique features tailored to the Martinez family, from the studio to the gym. For a buyer, the value lies in the combination of a move-in ready luxury home and its storied past. The key considerations are the property's premium features, its position in a strong local market, and the intricacies of high-value real estate transactions.
