Tag Archives: 14 Maher Avenue

Another bidding war winner

14 Maher

14 Maher Ave

On a dull day for real estate – no contracts, no significant price reductions, a couple of returning “new” listings and one sale, on Indian Field Road, I went browsing for foreclosure properties and came across this Maher Avenue property. There’s actually some room here for a deal because the mortgage seems to be just a million dollars. The owners bought it in 2007 for $1.695, paying above its asking price of $1.675 and did nothing to it before listing it last month for $1.495 – at least they’ve begun to realize their mistake. The house was built in 1900 and a walk-through this morning suggested that it hasn’t aged well. There’s not a level floor to be found, the doors are tilting, the furnace was probably new when the house switched from coal to oil in 1950 qnd the windows appear to be original. Worse still, there’s not much historical charm to the place – I could tear it down tomorrow with a clear conscience. So what’s it worth? The assessment is $960,000, and not so long ago, an 0.28 building lot on this street was probably worth that. It might be worth taking a chance that those days will come again.

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