25 Keofferam

Troubled times call for bold action
That's my opinion; this builder obviously disagrees. This perfectly nice house on a great street in Old Greenwich hasn't sold at $5,995,000 so yesterday it was reduced 3.3% ($200,000) to $5,795,000. I'm friends with this builder and he builds a good house, but baby steps toward the new market reality will only, I fear, prolong the day of reckoning.

Around the corner, at 403 Sound Beach Avenue, the same builder has applied the same approach and reduced another project 3%, from $3,765,000 to $3,665,000. Who knows? Perhaps he has information the rest of us don't. I hope so.