Overpricing is not new to this town

I see that 58 Parsonage Road, a good house on an acre and complete with an indoor ice rink so that your kid can eschew a career in investment banking and instead become a toothless sports star, is holding another open house tomorrow. Its price is $4.1 million now, down from $4.750 last April, but its stay on the market reminded me that this is at least the second time around for the place – both times, the owners have thought more of their house and its value than have buyers.

In September, 2003 this was listed for $5.995 million and slowly (well,  almost immediately) became an albatross around the neck of its succession of listing brokers and a source of amusement on open house day as we agents would drive by, see the open house sign and say, “my gosh, that place is still around!”. After three years it sold for 62% of its original price: $3.7 million. So as far back as 2003, some agents and owners were smoking dope – someone alert the DEA.

The new owner is not so obtuse and had the market not collapsed might be out from under his unwanted house by now with something perhaps approaching his desired price. But the market did collapse and now …? It’s a good house in a good location and there is that hockey thing going on, so someone will come along for this one. It just may take awhile, like every other house in town.


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3 responses to “Overpricing is not new to this town

  1. Jane

    Does it really have an ice rink? Like the type that needs a zamboni?

  2. PrimeTimeMom

    They probably have a mini Zomboni. I’ve seen one and they’re pretty cute.