733 Lake Avenue sold for $4 million after asking 25% more ($5.350) 480 days before. At one point in its time on the market I think I estimated it would sell for around $4.3, but that was when it was a younger listing. Clients and I looked at it and while it was a decent house, except for the architectural decision to build it with single-pane windows, my clients chose something in this (final) price range that I think we both decided offered a better value. But it was a close thing, because this is a nice house. How much did that initial overpricing cost the owners? A lot.
39 Willow Road in Riverside has a buyer under contract after dropping its price from $2.950 million to $2.650. I know what I thought its value was when I first saw it last summer when it came on at that higher price and the number in my head wasn’t 2.650 either. But Riverside continues to be hot, for now.