Powhatan home with 24 riverside acres sells for total of $2.5 million

Posted at 9:23 AM, Jan 17, 2017
and last updated 2017-01-17 09:23:18-05

POWHATAN, Va. — Calling an end to three decades in residential real estate, a veteran Richmond broker has handed over her last set of keys – her own – to an industry newcomer.

Gayle Walters of Midlothian-based brokerage Gayle & Company has closed up shop and entered retirement with the sale of her million-dollar riverside home in Powhatan County – the final transaction of her 30-year career.

The two-story, 5,400-square-foot colonial at 1706 Calais Trail, built in 1991 but modeled after the 18th-century New York home of Founding Father John Jay, was sold to fellow real estate agent Greg Kim of Joyner Fine Properties.

Kim, a semi-retired veterinarian who once owned a Henrico practice, the former Ambassador Animal Hospital, purchased the home Jan. 6 for $1.21 million, just below Walters’ asking price of $1.27 million. A county assessment last year valued the property at $959,100.

Walters, who purchased the home in 2001 for $650,000, originally listed it in August for $1.51 million – a price tag she said she based on low inventory in that price range. After a dozen showings but no offers over about a month and a half, she said she reduced the price and showed it to 10 more prospective buyers, Kim among them.

After a brief bidding war, Walters selected Kim’s offer, which she described as having less conditions attached. She said Kim and his wife also purchased some farm equipment that pushed the overall property sale to $2.5 million.

Walters said she’s happy her former home is going to a fellow Realtor, though she said that detail didn’t play into the decision for her and her husband Al, the owner of local construction management firm ContracTech.

“That wasn’t the part that drew me to them,” said Walters, adding that she did not know Kim beforehand but they have since formed a friendship. “Greg and his wife Kristin and their family, they are just fantastic people, and if I could have handpicked anybody to buy our house and be good stewards of what God gave us, then that’s the family.”

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