66 Glenwood Road, Belle Haven, was listed by its agent Chris Finlay for $6.750 million yet despite that preposterous price, he still managed to get it sold in under four months, for $5.1 million. Usually, too high a price simply kills a listing, so hats off to Finlay for avoiding that fate. It might be interesting to consider whether a better price could have been achieved had it been priced right to begin with, but that’s just pure speculation.
On the other hand, that same Mr. Finlay has probably hit the end of the nail upon its head with his new Belle Haven listing, 211 Otter Rock, at $5.4 million. This ramshackle old house (listing says “as is”), sold for $5 million at the height of the market in 2008, and it’s probably worth almost close to that today, so adjusting for the necessary sacrificial anode of that $400,000, the price seems right.