The unfortunate Mr. Tsoi has another of his failed projects back on the market, this time 29 Byfield Drive, now owned by his lender and priced at $4.3 million. The mortgage was $3.5. Can you say $3.1?
63 Winthrop, new construction, didn’t sell at $4.295 so it’s back today at $4.395. Call me crazy, but if a house can’t sell in Riverside’s heated market at one price, I see no reason to raise that price. But we’ll see how this works out. UPDATE: It worked out very well, thank you – accepted offer reported just this afternoon. Whoo boy – all those new houses on Hearthstone now look like good bets. I still hear the faint whiff of “Popcorn.com” in the air, but an awful lot of people made an awful lot of money on the .com boom before it went bust, so hey, go for it, if that’s your inclination.
9 Frost Road, off of Lake, is a 1929 house asking $4.595. Maybe – its pictures look alluring and this is a wonderful neighborhood, so I’m looking forward to seeing it. It seems pricey, but depending on how much work it needs it could be a great buy. Two acre lot.
And 808 North Street is still with us, years and years, brokers and brokers after it was first put up for sale. It did sell, new, for $11.3 million in 2000 and those buyers have been trying to sell it again, intermittently since 2004, starting at $13.9 and drifting ever downward since. Today’s price is $10.988. Yawn.