I mentioned last week that 11 Will Merry had been reduced to $2.5 million and I went up there to see how at looked at its new price compared to its first price of $3.6. It looks pretty darn good. This is a very nice house, with lots and lots of room, a walk-up attic, high ceilings, and an easy layout. It does have Merritt noise and while you won’t hear it from the front yard or inside, you will definitely know it’s there when you’re out back. But that backyard, 2.5 acres of it, also has a beautiful pool area and a tennis court and huge lawns. Whether that outweighs the highway noise is of course up to you – personally, I’d take all this space and its amenities and adjust to the noise – and your ears will indeed adjust, within a few months – over a 1/4 acre in Riverside, any day. At the very least, I’d give it serious consideration.
Another house I liked was 46 Dewart, an 1850 barn moved from somewhere else and moved here many years ago. Great, flat yard of 2.5+ acres, all landscaped, pool/garden and then the house itself, a quirky old barn in first-rate shape that smells of old timber (that’s a good thing, to my nose). Just three bedrooms up with a fourth, smaller one with its own bath on the first floor, but there’s probably room to add another bedroom upstairs if you must. I think this would be a fine, fine house to raise a family in, but a couple with grown children would, or should, appreciate it too.
The layout winds around and there’s no grand formal staircase because it’s a barn, for crissake, so if you’re set on a traditional builder’s colonial this one is definitely not for you. Looking for something different? Try this.
It’s asking $3.3, and that’s a pretty good opening price, because the land it sits on is probably worth close to that amount on its own. In fact, I was told that a couple of prospects came by last week who were interested in it as land only. You could do that, I suppose, but if you tear this down you should know that I will personally track you down and exchange harsh words – go find someplace else to erect your 10,000 sq. ft. pile of blech and leave this one for someone who can appreciate it for what it is.
I also saw a ranch, address withheld so as not to embarrass the owner (I’m feeling charitable today) that was priced at $2.1 and is worth, I’d guess, $1.450 million. These mis-prices are frustrating because they’re so useless. I have clients in the $2+ range but I’d never waste their time on this house at that price, and I have clients looking for a ranch in the $1.5 range who would probably like this property very much, but what am I going to do with them, and it, when it’s $600,000 overpriced? I’m going to do nothing; in fact, I won’t show it. A year or two from now I’ll probably have different clients in the one-and-a-half range and this house might then have been reduced to a level where it’s of interest. But I’d rather have a house to show my current clients, now.