Fun with numbers

We’ve been following the travails of 396 Round Hill Road for years now and those troubles continue. First built and listed in November, 2005 for $8.950 million, it zoomed up to $10.9 million a year later when the lower price failed to stir up a buyer, dropped down to $9.35 as the higher price failed too, was occupied by the family of the builder for a year and then returned to the market at yet another new price, $11.5 million, in February 2008. Still no luck so today, after yet another year, it’s had $2 million lopped off and is offered at $9.450 million. The seller obviously hasn’t found the right price yet but eventually, I’m sure he will.

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2 responses to “Fun with numbers

  1. Anonymous

    What if you lower the price to $6M? Will the buyers show up and perhaps, dare I say have a bidding war?
    It will never happen on this house because the sellers aren’t desperate and don’t need to sell, but I wonder if underpricing in this market would generate multiple bids?

  2. christopherfountain

    My brother Gideon has a longer memory than I and I’m sure he can recount numerous price wars breaking out in all price ranges. I know there was one in Deer Park in 2003 or so that involved a $6 million house and I’m sure there were plenty more. These days? Who knows, but all it takes is two people with egos wanting the same thing and we’re off to the races. It’s unfair to point this out, but often the larger the bank account the larger the ego so I’d never rule out a price war for a big ticket house.