Old, kind of quirky, but close to town and a decent price. I like it, but it’s definitely not for everyone

16 Brookside Park

16 Brookside Park has cut its price to $3.695 million today. Purchased for $4.3 million in 1999, it’s got two acres a pool and a 1905 charm. Seems like a very decent price to me, for the right buyer.

6 Comments

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6 responses to “Old, kind of quirky, but close to town and a decent price. I like it, but it’s definitely not for everyone

  1. Anon

    115 Brookside sold Dec 2010 for $2.4 million. Do you think this old house on a smaller lot is worth that much more?

    • 16 is 8,000 sq. ft (compared to 115’s 4,000) is on Brookside Park, not Drive, so no traffic, (much) better land and, to me, much more charm. But hey, that’s why different houses sell to different people. 115, by the way, started off at $3.750 in ’08 and didn’t sell at that $2.475 price for another 743 days. Maybe that will happen here, who knows?

  2. Anon

    Agree Chris, except for the noise. Edgewood drive is noisy too and 16 has direct access to it.

    Another difference is the age: 16 built 1906 while 115 built 1979. So it depends on the buyer like you said.

  3. AJ

    To me, the fact that they’ve lowered their price to $600 thousand less than they paid for it thirteen years ago is not a good sign. I remember my father telling me that in the late 40s he looked at an acre of direct waterfront in OG, I believe it was in Edgewater so that would be on the creek, for $4,000. How long before we return to those prices? Another four years with the Ayres’ sponsored foreign student (http://www.wnd.com/2012/03/mailman-discouraged-from-telling-obama-story/) ought to do it, would be my guess; that’s if all property hasn’t become communal by then.

  4. Anon

    AJ: “lowered their price to $600 thousand less than they paid for it thirteen years ago”. That is only 14% reduction from what they paid 13 years ago.

    That is only because they are close to town. If you want real reduction, check out 50 Close road who are asking 44% below what they paid 14 years ago.

  5. AJ

    Home prices hit a 10-year low: http://money.cnn.com/2012/03/27/real_estate/home-prices/index.htm?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fmoney_latest+%28Latest+News%29

    Anon, I don’t know about you, but to me, $600 thousand is still a lot of money. If I had an extra $600K to stash in the bank, I could snooze away at least another ten years of my life, and possibly much longer if I was frugal.