This house, new construction, sold for $3.850 in January 2008. I’ve been curious what its present value is because I sold two other new ones (different builder) next door for $3.8 and $3.85, respectively, just a few months before. Today, this one came up for sale at $3.875, a token $25,000 more than it sold for 13 months ago. Will they get it? If not, how much has it dropped? Did I ever think I’d ask that last question about Riverside property? (No.) I’ll be watching with bated breath.
On the other hand, here’s a condo whose builder must have quit holding his breath a long time ago and is now just trying to get what he can for it. 292 Davis Avenue, a nice, free-standing “condo” (one of three units) has been for sale since January 2007 and originally asked $1.965 million. A beautifully detailed bit of construction but Davis Avenue is not yet ready to crowd out Field Point Circle or Round Hill Road as one of our premier addresses and that first price, in retrospect, was a tad aggressive. That is to say, no one wanted it. Today it came down to $1.125. If Walt and Monica are looking to downsize, they might choose this. And, fortunately for them, if even this is beyond their means, we do have public housing right up the street. But there’s a waiting list, Monica, so just as soon as you get back from Mustique, you may want to sign up.