You want an otter opinion?

188 Otter Rock

188 Otter Rock

This “almost entirely new’ house sold in October, 2002 for $3.459 million. After enjoying it for four years but doing nothing to it the owners put it back up for sale for the remarkable price of $6.750 million. The buying public apparently didn’t perceive the doubling of value that this listing broker did so it hasn’t sold. Today, after three price cuts, it’s down to $4.7 million. That may still not be sufficient, but a $2 million cut at least indicates a seriousness on the part of the seller that was lacking before.

I haven’t run the numbers, but I have a sense that Belle Haven may have taken even more of a hit than some other neighborhoods this past year. I’ll check that over the weekend.

3 Comments

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3 responses to “You want an otter opinion?

  1. B1

    A reliable source that we had dinner with last weekend, Chris, told us that the only sale in Belle Haven in calendar 2009 was the $15M home on a peninsula purchased by the MasterCard CEO (Selander).

    If that is in fact the case then . . . wow.

    • christopherfountain

      B1, I just checked the records. At least so far as the MLS knows (there may have been private sales) there have been 0 contracts this year and only 1 in all of 2008. But that’s for Belle Haven proper, which doesn’t trade that ofetn to begin with – for instance, 2006 saw just 4 contracts. Still, zero is zero, and that’s not much. (The sale you refer to, 11 Island Lane, happened last July).

  2. anonymous

    Doesn’t trade often but lots of supply for sale these days (doubt anyone would brave an attempted sale in this mkt unless forced to sell); Borges land, $35MM ask house, etc etc; actual sale prices should be interesting datapoints (when they finally occur)