Here’s a large house that came back on the market for $3.99 million, a full million dollars less than was asked for it back in 2006 when it failed to sell. I would have preferred to see the $3.99 price originally, so a big cut now doesn’t really mean all that much in value. After all, if it was really worth $5 million in ’06, it would have sold then, eh? There are a number of houses on the market or under contract that were wildly over-priced to begin with and I suspect that buyers are sometimes swayed into believing they see value by comparing the current asking price with that first asking price. That’s not a useful tactic, if the first price had no reality.
Price cuts
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For What It's Worth 
I think this is off Cognewaugh, correct? One of several newer homes in one of Cos Cob’s prettiest locations. Good to see you’ve stopped your CC bashing ways CF. You might even be able to walk into Pizza Post without getting yelled at…..well, maybe some day.
Now that I’ve teamed up with the bad boy of Cos Cob, I’ve had to mend my ways, Stan. I’ll be putting an above-ground pool in my back yard by the end of the month!
Many deluded people couldn’t get over Nasdaq 5000 nearly 10 yrs ago and kept hoping for a “bounceback” to 5000 ever since; similarly deluded people will still fixate on housing prices of ’07 for many yrs to come
Now Chris, we have Nuage, Plum and Fjord and we are becoming the banking center of Greenwich…..and we have the best sausage…..and what’s wrong with above ground pools?….they’re great for growing mosquitos. Not to mention that our Starbucks is the hippist in town and was the first to offer the microwaveable egg sandwiches with spinach.