This is not the market for a 5% price cut

191 North Street has today dropped its price from $2.795 million to $2.650. Do the sellers really think that anyone interested in the property was balking at the original price but will now be moved to snap it up? I don’t think so. The house is a teardown, the land is swampy and down a long driveway (which is in fact a plus for any property off North Street) and despite hints to the contrary on the listing, almost certainly not divisible. If no one wanted it at $2.8, I doubt they’ll change their mind at $2.650. All that said, this could be an excellent building site, at the right price. I think the seller should regroup with her agent and figure out what that price is.

6 Comments

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6 responses to “This is not the market for a 5% price cut

  1. Whether its a teardown or not, the photos in this listing are HORRIBLE HORRIBLE HORRIBLE. Did I say HORRIBLE???

    I’ve harped about this so many times before, that brokers take crap-ass pictures for the online listing. You tell me, the photos of the library/den and master bath, are they acceptable to your eye?

    I see no reason for any realtor, no matter how awful they think the house is, to deem these photos usable.

    Chris, you have my permission to give that broker my phone number and I’ll come show him/her what a real photo is. Ugh.

  2. Anonymous

    The house is a DUMP! and will not have a 2 in the sales price! (that is if it ever sells)

  3. Anonymous

    @EOS, preach on! I have no idea why realtors selling homes or land in the neighborhood north of $2M think they have earned such large commissions when they post such shoddy work product.

    If they thought it was a teardown, then there should have been more (and better) pictures of the land. Perhaps the owners gave the listing to a starving related realtor? Is the realtor trying to scare off potential buyers so that they can sell to their own buyer or a buyer in their own agency?

  4. Norman Rockwell

    It is quite rare to see proper photos of listings in Greenwich, personally I think most agents are useless and believe me, I have seen many! That is the reason why it is easy to be a good agent in Greenwich, the competition is pathetic.

  5. burningmadolf

    Ahhhh, waking to the lovely sound of downshifting trucks every morning on North St., beautiful memories.