3 Cherry Blossom Lane, an unfinished spec house on the Banksville line asking $3.2 million, reports a pending contract. I’ve lost track of who owns this place – Antares had it, then developer Greg Silver, now maybe the bank? But it was no home run. Back in the day – 2008 – it was listed for $7.995 million, a price that presumably anticipated the house being completed but it didn’t sell, nor was it finished, and it’s been languishing since, through a series of price cuts.
I don’t know whether there’s anything salvageable here after it’s sat empty for six years, but that’s what building engineers are for. I’d always figured the land was worth around $1 million and the house was worth nothing, but I tend to be pessimistic about the value of abandoned houses in far distant locations. Someone has probably disagreed with my assessment, and good for him.