The Frank Lloyd Wright-designed, 76-acre spread—known as Fawcett Farm or the Randall Fawcett House—in California’s Central Valley is still waiting for its next owner.

The place was listed for $4,250,000 in August 2022. Listing agent Crosby Doe, of Crosby Doe Associates, explains that the seven-bedroom, six-bath house in Los Banos, CA, was pulled from the market during the holiday season.

But it’s been relisted—this time with a price tag of $3,825,000. The property has already nabbed three offers since it reemerged on the market Aug. 4 but remains available.

The sellers bought the 4,041-square-foot, Usonian-style property in 2012 from the original owners, Randall “Buck” Fawcett and Harriett Fawcett.

‘Fallingwater of San Joaquin Valley’

Completed in 1961 and based on Wright’s 1955 design, the home is what Doe calls “the Fallingwater of the San Joaquin Valley.” Los Banos is about two hours from the San Francisco Bay Area.

The design relies on materials such as concrete block and copper. It features a koi pond, 12-foot-wide fireplace, open floor plan, and a horizontal roof.

‘Labor of love’

“They’re big on preservation,” Doe says of the sellers. “So they hired a great team to do a full restoration. They were enjoying it as a private retreat and family gathering place.”

The sellers worked with Eric Lloyd Wright—Frank Lloyd Wright’s grandson, who died earlier this year—and Taliesin Associate architect Arthur Dyson.

They also added a well with a reverse-osmosis water system for the house, gardens, and pool. Most of the work was done shortly after they moved in.

“They’re not making a profit,” Doe notes. “It was a labor of love.”

During the COVID-19 pandemic, the owners weren’t able to travel from Florida as often, and business interests took them elsewhere. So they opted to place the prized property on the market.

A two-year contract remains in place for the land’s alfalfa farm and could be renewed or discontinued by the new owner.

In marketing the listing, Doe had certain types of buyers in mind: a hobby farmer who is retired, or a Silicon Valley dweller looking for a cool corporate-retreat spot.

“Then we have the international collectors, who just want great works of architecture,” he says. “They’re out there as well. I’ve found with these unique works of architecture, patience is the key. It takes time to find the right buyer.”

But he has a lot of faith in Wright’s designs, knowing they continue to attract interest so many decades later.

“The market for Frank Lloyd Wright homes has been amazing,” Doe observes. “They usually bring in a couple hundred percent over the local comps.”

There are two other Wright-designed homes on the market for almost twice the price of the California farm: this stunner in Connecticut, and a showstopper in Oklahoma.

The post Time To Pounce: Frank Lloyd Wright’s Fawcett Farm Is Back on the Market—With a Price Cut appeared first on Real Estate News & Insights | realtor.com®.