The owners of 21 Cat Rock Road have nibbled at their price again and reduced it today to $1.649 million from yesterday’s price of $1.695. This house started off at $1.985 in 2009 and is now on its seventh price. It reported an accepted offer earlier this year when it was still at $1.799 so I understand the owners’ reluctance to cut still further but face it: an accepted offer is not a sale, and little bites off a price aren’t going to give the impression that this house is now a bargain.
Which it might well be, by the way, but had this been cut to $1.649 directly from $1.985 back there in 2009 buyers might have seen it as a deal, instead of just a distressed property that hasn’t sold in three years.
None of which is to suggest that this house is not well priced now – if you’re looking in this price range, check it out – but other sellers, at all price ranges, might want to take a lesson here.