Uh oh

I wondered about this. 272 Riverside Avenue, new construction, was bought in January 2008 for $3.850 million and put back on the market this past February for $3.875. I sold two similar houses just a few doors away in 2007 for $3.8 each and I was curious to see what the market did to this one’s price. We still don’t know because it hasn’t sold but today it was marked down to $3.695.

It could be worse: the builder tried for the longest time to get $4.5 million for this place but fortunately, no one bit.

6 Comments

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6 responses to “Uh oh

  1. Anonymous

    hmmmm…I wonder how those 2 clients feel about their $3.8 purchase? If only they had held out a little longer maybe they could have gotten a better price! Oh well, I am sure their broker was doing the best he could, right? Hindsight really is 20/20…

    • christopherfountain

      Well Anon, I represented the builder so he was happy with my efforts. And we were helped out by the builder up the strret pricing his effort at $4.5. At $3.8, we looked like a bargain or at least a good value and at that time, we were. Now? Eh? GM was probably worth $70 a share back then, too.

  2. anon

    Maybe the owners were inspired by the show on HGTV called, “Flip That House,” and figure they can make some fast easy money

  3. walt 3

    dude, you got a gambling problem or what?

    then how is it you tool around town in a 10 year old honda and constantly complain about having to buy state sponsored health insurance.

    or just nortoriously cheap?

    • christopherfountain

      Walt 3, just because a car matters to you, don’t assume everyone shares your passion. I drive a 7 – year-old Honda because when I turn the key, I know it will take me where I want to go and bring me back, and that’s all I want a car to do. I have friends who love Masserattis and such but I wouldn’t know how to drive one, nor do I care to. Now show me the right sailboat and I might be tempted to spend money, so I don’t claim a moral superiority here, it’s just that cars don’t do anything for me.

  4. It is clear that the house being built next door within 10 feet of the property line is a huge negative for this house. Maybe they thought they would get the tiny lot next door for a song. Nope – it was sold to a builder who forged ahead and built a house crowding out 272 Riverside. It is not rocket science. A lovely house on a lovely lot but unfortunately it was subdivided for two houses from one house.