Here’s a price cut of note

88 Glenville Road

88 Glenville Road

This new construction was listed for $3.6 million at the end of April. It was put up by an excellent builder and is of very high quality. But, it’s right on the road, and that doesn’t help its chances of selling in this market. So today the seller took a second price cut, down to $2.595, which should help offset the road problem. Maybe. Decent yard in back, too.

3 Comments

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3 responses to “Here’s a price cut of note

  1. shoeless

    I continue to see 30-plus percent discounts at the mid to high end. When does the lower ($1-$2mm) end wake up? By your count, there are 200 SFH in this price range alone on the market with minimal activity.

  2. Anonymous

    Zillow reports that the land sale in July 2007 was $1,050,000, when it was zestimated at $1.67 mil.

    The land price paid correlates to 2003 levels, so at the time of mid 2007, the builder was onto a good thing. He may even have overpaid ($800,000 for 2002 zestimate).

    I am convinced that LAND prices should be 2002 Zillow levels. That level seems right.

    I can’t say that I know what I’m talking about though.