Busted flat on Stag Lane

42 Stag Lane

A reader brought to my attention the recent bank sale of 42 Stag Lane for $725,000. This 6-acre parcel backing up to the Merritt had been in the foreclosure process for years (8?) and finally succumbed. The ridiculous thing is that, although the owner paid $1.375 for it  in 2004 and probably overpaid at that, he put it back on the market in 2006, unchanged or improved, for $2.5 million and by so doing, guaranteed this past month’s outcome. I’m pretty sure it’s been vacant for years, too, so he didn’t even get the benefit of rent-free living all those years. As a broker, I wouldn’t have accepted the listing at such a stupid price but as always, there will be someone around who will.

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2 responses to “Busted flat on Stag Lane

  1. Stanwich

    Even as a land sale, and even being adjacent to the Merritt, this seems low for 6 acres.

  2. Anonymous

    I live down the street from this eye-sore. The house was gutted a few years ago, and has had a blue tarp over it for at least the last two. It has been sitting, rotting, ever since.

    The land is essentially useless, as it is predominantly wetlands.

    Hopefully the blue tarp will go away now.