This large house way up on Lake Avenue on 4 acres sold for $4.4 million in 2003. So far as the listing shows nothing was done to it between purchase and January, 2005 but the buyers put it back up for sale for $9.7 million. Their estimate of how much the market had gone up was flawed and the listing expired. Today the house is back at a new price of $7.495. I’ll be curious to see, if it sells, how close it comes to the 2003 price.
The owners of 46 Quail Road, on the other hand, have already decided to bite the bullet. They paid $4.875 million for their house in March 2005 and as of today, will part company with it for just $4.3 million.