Round Hill Land Values

384 Round Hill Road

384 Round Hill Road

When this property, priced at $5.2 million went to contract in November, I reported the rumor that the owners had accepted an offer in the low 3s. That seemed low for 6.6 acres and a renovated 1745 farmhouse, even if it did overlook the Round Hill general Store. But its selling price was reported today as $3.4 million, proving again, as I suggested in the original post, that in this town, rumors about real estate are often more accurate than any other kind (well, the Noel/Alzheimer’s rumor seems pretty solid, but forget about that). 62% of the original asking price is arresting; for those taking notes, you may want to know that the sellers paid $2.6 for this place in 1999 and put in a substantial amount of money into renovations. Oh – and the original price back in 1998? $3.5 million. My my.

5 Comments

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5 responses to “Round Hill Land Values

  1. CEA

    Was that $3.5 mil in 1998 before, or after, renovations?

  2. CEA

    So $3.5 mil, PLUS whatever they spent on reno (was it a “real” reno, not just cosmetic?), and it’s still just worth $3.4? Ay yi yi.

    Question: was this a relocation company sale? Sometimes they are more eager to admit to what fair market value is, rather than let a house sit on the market forever.

    • christopherfountain

      Nope – just some realistic sellers who wanted to move and didn’t want their house to move with them. Ay yi yi indeed!

  3. towny

    sooooo thats what a “farmhouse” looks like!