A house on Pheasant Lane has dropped from $4.795 to $3.795 today, all without input from this blog, so how did buyers know that it was overpriced? It’s a mystery. The house sits on 2.6 acres and is close to town but when I saw it back last spring, it was showing its age (1937). So what’s it worth? Certainly not a million dollars less than it was in April or it would have sold in April. The town’s pegged it at $2.5 (70% of 2005 market value) and that might be something you want to consider. Or not.