More pricing follies
29 Byfield, mentioned here before, was listed April 15, 2008 for $9.495. It's been dropping like a rock ever since and today was reduced again, to $5.698.
39 Boulder Brook, also listed on April 15 by the same broker, came on at $8.595 and dropped yesterday, again, to $4.998. Same broker, same listing date - same builder? Someone's losing sleep, if so.
12 Doubling Road, coincidentally, was also listed by the same broker,back in September '04 for $14.5 million and eventually sold for $7.575. A building lot was split off and sold for $4.130 in '06 (nice price for the seller, I think) and now the original 1913 mansion, completely restored but shorn of several acres of its magnificent lawns, is back on for $13.5 million. Convenient location and nice house so maybe this time's the charm.
And then we have 228 Stanwich Road. Its original owner tried to get $2.125 for it at the height of the market in 2007 but finally sold it for $1.7. The new owners returned it to the market, untouched, a year later, and asked $1.895. Today they lopped off $46,000. Call me crazy, but I think they'd be better off shooting closer to the price they paid for it. Regardless, I don't think a 2% price cut is going to be much help.