15 Midbrook Lane, a 1960s renovated split-level across from Perot Library (and thus north of the village), sold today for $1,117,500, which seems like a good deal for the buyer. The seller paid $1.350 for it in 2005, which no doubt explains their reason for pricing it at $1.395 this time around but we seem to be pretty much at 2003, not 2005 levels, and there was some significant price appreciation in those two short years, appreciation that must now be given back. I though this was a nifty house, a split-level that worked, and some very good renovation work done since that 2005 purchase. So I’m sorry to see the owners lose money, but there you have it.
The owner of 145 Porchuck Road took an even worse haircut, having to mark down the house he paid $3.1 million for in 2006 to $2 million before he found a buyer and presumably, that buyer is paying less than the final asking price. Tough area these days.