Richard Schechter sold his four-bedroom, three bath at 2439 Appaloosa Trail in Wellington for $1.55 million to Cecilia Aguirre on Jan. 23, 2006.

Schechter paid $550,000 for the home in Aug. 2004.

Schechter is the CEO and president of the Bainbridge Companies, a Wellington-based real estate company specializing in the development and acquisition of commercial and residential real estate.

He also owns and operates Bainbridge Farm, an equestrian farm that boards competition horses in Wellington.

Home sales in Wellington dropped more than 33 percent in 2007. The median sales price also dropped from $450,000 in 2006 to $382,000 in 2007.

Blockshopper Metrics began keeping track of home sales in South Florida in 2001.