21 Cat Rock Rd
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.
For What It's Worth 
Nothing says a house has been for sale for a while than SNOW on the ground in one photo and a Xmas wreath on a window in another. Today’s a pretty day – what say you take a new group of photos to go along with the new price?
And those are crummy pictures to begin with, EOS If houses are first discovered on the Internet these days, and they are, seems to me that good pictures would be a huge priority. Not as important as the right price, but first impressions and all that… If you can’t get a buyer into your house to look at it they’ll never know the quality of what’s there. Of course in many cases that may be a plus, but still …
I’ve noticed a tendency (operative word) for houses to close somewhere around $500 per stated sq feet (of course- outside of the OG/Riverside twilight zone), at least as long as the house is on a lot sized about the same as the appropriate zone. Whether it is $425 or $500, it appears as if the asking price has now reached the sweet spot.
the market for homes north of I-95 has gone down every year since the bubble popped, so of course if houses were priced a few years ago as they are now they would have probably sold