480 North Street, the spec house that was priced at $9 million + and sold for $4.5 million this past July, one step ahead of the repo man, has come back on the market today and is asking $5.350 million. Looks like the same place to me, so why the $850,000 increase?
I’d guess that the sellers figure that they got a steal, which, I suppose, they did, and now want to cash in on that bargain. But will this work? If I were a buyer, I think I’d take the attitude that, steal or no steal, distress sale or no distress sale, the market value of this house was fixed at $4.5 million in July and no market improvement has occurred since. But maybe not – it’ll be fun to see what happens. Tamar Lurie has the listing.