You don't have to be an Einstein to deal with this market
The owner of 40 Sawmill Lane paid $6.0 million for his house in May, 2006 and put $500,000 in improvements into it. He is now buying a house in another town and asked his agent, Julianne Ward, what price would sell it. The result is that he's written off the cost of his improvements and priced it just below where he bought it: $5,995,000. Who knows if that's going to do the trick but the seller is obviously smart enough to know where to begin and, as suggested here yesterday, he's looking at the total picture: he may get nipped in his sale here, but he's saving a bundle on his new house up the coast where the market has been hit even harder than in Greenwich. So he'll probably come out ahead of the game or close to even, which is not a bad result today. Hats off to him.
40 Sawmill Lane