Three sales

16 Irvine (ML# 71938) sold for $822,000. Owners paid $640,000 for it in 2003, renovated it with new kitchen, baths, etc. in 2007 and tried selling it that year for $1.150 million. Took two years and many price cuts but the job got done. Assessment: $733,810.

11 Brown House Road sold for $1.665 but this is one of those “for reporting purposes only” deals so it was never exposed to the market and  we don’t know anything about that price, good or bad. Owners paid $1.120 for it in 1999.

48 Highview (ML#72788) sold for full asking price of $1.685, which makes sense: I know the owners and they deliberately priced it to sell. Shows what can happen even in this market (this was a May contract) when you aren’t stupid. They bought this for $1.560 in 2002 and did a beautiful job renovating it, so they may have “lost” money on the deal, if you don’t consider the shelter value for seven years, tax deductions etc. And of course, they’re buying something else that is much cheaper now than it was a year ago and they knew enough to look at the entire transaction, not just the sell side. I told you they were smart.

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One response to “Three sales

  1. Anonymous

    How many of the 51 contracts left now?