More price cuts in the higher end

4 Indian Chase Drive, which was purchased for $3.950 million in 2008 and saw some renovations including a pool, which adds nothing to value, has been on the market since January, 2015, when it started at $4.425. Today it's down to $3.495. Fine old 1900 home that was in serious need of repairs and modernization when these owners bought it at the tippy-top of the market, but back in 1900 I-95 didn't run across its front yard. It does now, and that seems to be limiting its appeal.

20 Thunder Mountain Road, priced at $9.995 in 2014, has now been marked down to $5.5 million. We've discussed this home before; I really like its interior, and while $10 million proved too high, $5.5 for this house, in a different location, would strike me as a bargain. But it's not in a different location, alas, and as Donald Rumsfeld so famously said, "you don't sell the house you wish you had, you sell the one you do have". Five-five may not do it.

And here's 28 Dairy Road back for more abuse. The owner had it on the market at $5.995 in 2014 but pulled it when it didn't sell. Now it's available for $4.825, down considerably from its 2002 purchase price of $5.125, especially when you add all of the very expensive improvements put in since that purchase.

But it's still a pre-fab, it's still located at the bottom of a steep driveway, and it's still on Dairy Road, all of which doesn't help its cause. I do recall laughing about this place back in 20002 when it was new, because the listing agent would park a rented vintage Rolls Royce in front of the house on broker open house days; an older agent might, I suppose, be excused for thinking that a borrowed Rolls created an impression of wealth and prestige, but it certainly didn't work for any of us agents under 70. The car's gone back to its owner by now (I hope) and the miniature brussels-sprout-like bushes flanking the driveway have grown to be full sized sprouts, so maybe this new price will prove the charm.