Just a few months ago, this 10,000 square foot Palm Beach estate on a sweeping piece of property facing Lake Worth sold for a whopping $55 million, which any sane person might think was an impressive enough price tag, after having been on the market for about five months. But this is how over-the-top the current real estate market is. The house appears to have been almost immediately whallopped back onto the market, with a new listing price of $79 million. If that brash of a flip isn’t proof we live in truly bizarre real estate times, than what is?

Bubble or massive economic rejiggering, the house is lovely. It’s got a sweeping lakefront terrace with jaunty white and green awning, a red ballroom/family room, an even redder powder room, a yellow dining room with some absolutely gorgeous wallpaper, a large pool, and land galore, with over two acres of property. The historic home, built in the ’30s, has been impeccably renovated, although the property description appears to be subtly and regretfully positioning the house as a teardown. For that kind of money, one does tend to assume they can do anything they want, don’t they?