19 Pintail Lane, asking $1.199 (down from $1.399) has a buyer. Very decent house, I thought. There are things I’d want to do with it, including blowing out the kitchen and, probably, pushing the master bedroom out ten feet or so, but lots of good working material here and of course, livable exactly as is – after all, it’s occupied now – buyers sometimes overlook that fact.
35 Bramble Lane, still under construction and asking $3.4 million, is gone. Since it hasn’t been completed I offer no opinion on its merits but $3.4 is the right range for this street. My personal preference would have been the 2007-built house across the street at 26 Bramble. Built to exceptional standards, great layout and had its own gate opening to Eastern Middle School’s playing fields and tennis courts, so you had something like a fifteen-acre park as your back yard. But that one went very quickly just two weeks ago – I wouldn’t be surprised if the buyer for 35 was a disappointed bidder or worse, looker, on 26.
And after reporting an accepted offer on October 23rd, 12 Mary Lane, $795,000 is back on the market, that first deal having apparently fallen though for unspecified reasons. Incidences like this are common, which explains the reluctance of brokers to report accepted offers, rather than executed contracts (all contingencies having been met); no one wants to look at a house that already has a pending deal, so the house is basically off the market for weeks, which hurts all the more when that deal falls apart. The GAR requires that accepted offers be reported immediately, one of the only instances I can think of where the board favors transparency and dissemination of information and, ironically, the one instance where I think an exception to a general policy of releasing all relevant information as quickly as possible should be made – this new rule hurts homeowners. Before this rule was enacted, listing agents would tell another agent interested in showing a house if there was an accepted offer pending and leave it to her and her clients whether they still wanted to see it. Disclosing that status to the entire marketplace, however, kills all interest from the inception, with no real benefit in exchange. Or that’s my opinion, anyway.