Great moments in real estate pricing

54 Rock Maple Road

54 Rock Maple Road

This is a nice house, if you like this sort of size, that was purchased when new in 2002 for $5.3 million. For reasons I never understood, the buyers priced it at $12.450 in 2007 and, even then at the crest of the bubble, that just wasn’t going to work. It’s a nice house, but not twelve-and-a-half million nice. So, it didn’t sell, and its price has been dropping ever since with a change in brokers along the way. Yesterday, it was asking $6.950 but it’s a good thing you didn’t buy then because today it dropped another million. New price, $5.950, which certainly makes it look a lot better than it did in 2007.

4 Comments

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4 Responses to Great moments in real estate pricing

  1. philip

    Is this actually a nice house? Isn’t the location very inconvenient?

  2. Stanwich

    A quiet cul-de-sac off Stanwich that backs up to the town’s largest park…hardly inconvenient. Although this place is barely reminiscent of an A-frame…..not sure that should cost this many millions.

    CF, have you been inside? What’s it like?

  3. christopherfountain

    It’s nice inside, Stan, if you like this sort of thing. Too big for my taste but that’s entirely personal. If I recall, and it’s been a long time since I visited (that first price hardly encouraged a second look) it had nice trim and molding details, good quality all around but maybe (again, forgive my memory) something odd about the central stairway? Tough getting old.
    Priced as it was, I dismissed it, but now that it’s come down substantially, I’ll definitely visit next open house. Worth a look for anyone shopping in this price range or lower.