12 Horseshoe Road, a contemporary originally priced at $1.8 million this past September, has been dropped to $1.695 today. It’s odd how these things work. Back in 2005, the house came on for $1.749 million, and had a buyer willing to pay $1.745 just three weeks later. In 2009, that buyer tried to resell it for $1.995 but finally moved it, 400 days later, for $1.275, to the current owner. I think this time, the seller has tried to find a buyer with the enthusiasm of that 2005 owner and priced it at $1.8, but despite painting the rooms in dramatic colors, there’s nothing that’s been essentially changed since she bought it herself for $1.275. The “right” buyer may come along, eventually, but if I were advising her, and she wanted to move on (and out) of this house, I’d suggest dropping the price closer to her break-even point.
I personally like this house. It’s in a great setting, and, as a single guy, it has far more space than I need and no yard to maintain – perfect. I am not the typical Greenwich buyer, however, and if it’s to appeal to a larger market spectrum than sophisticated New York couples looking for a weekend spot, the only thing that’s possible to change is the price, so I’d do it.