As the snow melts, new listings, many returning from last year, are appearing. The snows and vacations have slowed the spring market a bit but that will change quickly.
Yesterday’s open house tour was a bust, for instance, but one home that was at least scheduled for the tour (I didn’t go, as I’ve seen it many times before) is 6 Wykham Hill, now back at $4.390, after trying for $5.8 originally and dropping as low as $3.9 (as shown in the link – I’m taking advantage of the last days of our old system to post a meaningful listing but unfortunately, it’s no longer updated).
The owner of Wykham made a bad trade when he let his agent (not me) talk him into placing a winning bid of $5 million some years back, when it was only asking $4.395 – weren’t those the days? He may have compounded that error by putting in well over $1 million in improvements, but the end result is very cool. It’s got some Merritt exposure, which I never found hugely objectionable, and at either its new price or its last price or somewhere in between, there’s a lot of house here for far below replacement cost.