Next week should see activity. This week, not so much. There was one listing returned to market today, 127 Lake Avenue, $895,000. Nice looking house but it demonstrates the difficulty of finding a buyer for lower Lake Avenue, where the convenience to downtown meets the traffic headed in that same direction. It’s a tough sell.
The owners of 127 paid $1,010,000 in 2003 and obviously put still more money into renovations, but after trying $1.2 million in 2008 and variations on that theme since, they are down now to under $900,000; I’d guess that price will drop still further. This is a nice house, and pretty good value if you can put up with the location. Just beware of resale.