Price cut on Sawmill

 

12 Sawmill Ln

12 Sawmill Ln

12 Sawmill Lane is now asking $6.4 million, down from the $7.8 it originally asked a year ago. It’s a gracious old (1937) home, with beautiful grounds and close to town, but when you price, say, a $6 million home at $8 million, you kill interest. Tough call here because the usual $8 million home probably takes a year or so to find a buyer, so you don’t want to slash the price too soon, but if you’ve misjudged the proper price, that year waiting for a buyer is wasted, waiting for a buyer who isn’t going to appear.

It will be interesting to see whether that buyer shows up now. Unfortunately, after too long on the market many homes are shunned by buyers: “no one else has wanted it, why should I?” The answer is, “because no one wanted it at its original price; it’s well priced now”, but the stigma remains.

12 Comments

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12 responses to “Price cut on Sawmill

  1. anonymous

    Interesting that the owners would update kitchen appliances yet leave the 1980s cabinets. It’s a tough call whether to redo or not because one could redo and still have a buyer hate it. Better to leave it old I guess and let new owner create the space. No pix of bathrooms either so I guess they are also gut-worthy. Beautiful bones and yard though.

  2. Libertarian Advocate

    Beautiful.

  3. BigMike

    Sawmill is nice neighborhood. I have a few clients up there. There is some merrit noise, but for the amount of house/land you can get on that street, not a bad deal.

  4. Anonymous

    BigMike, there is no Merritt noise on Sawmill

  5. Anonymous

    when i see so much flowery decor, i immediately think of scrapple and old people.

  6. Flash

    What does the front of the house look like?
    What are they hiding?