Nice house but …

33 Boulder Brook

This 2008 spec house has dropped its price again, down now to $5.495 from an original ask of $6.875 million. And that’s good, but the trouble lies with the recent sale of another equally nice if not better spec house on 9 Boulder Brook that sold for $4.4 million, from an original price of $7.245.

I would think that a buyer or an appraiser will look to see recent comps and land on #9 as the perfect match. In which case, #33 has another million to drop. That, plus the presence of a couple of houses in foreclosure on the street, spells trouble.


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2 responses to “Nice house but …

  1. Stanwich

    Why does this effing street grab so much of your attention? Why is there so much going on here on such a little street?

    • There does seem a lot going on on that little street, Stan, even beyond the tragic death of that poor lady during the wind storm. Three spec houses, one selling at a distress price, one in foreclosure, a third unsold after what, two years? Plus another foreclosure on that existing little house on the right hand side, near the end of the street.
      That’s a lot of activity for a street with so few houses. I think, because of its proximity to town, it heated up during the bubble and was whacked hard when the music stopped (mixing a few metaphors along the way).
      Whatever, it does hold a number of lessons.