3 Old Mill's price was cut today to $3.450 million, which seems to me to be a decent price for a good house and location.
David Ogilvy started off the party on this property back in 2004, when he priced it at $5.2 million and watched it sit unsold for a year. Perhaps the owners were miffed at that, because when they brought it back to the market in 2012, at $4.250, they used a different broker. many years, many precuts and several different agents later, they're back with David.
The house was never worth $5.2 million, or so said the market, so a buyer at this price isn't really getting a $2 million discount, or even a $1 million discount from that $4.2 price, but I do think it's suffered from being so grossly overpriced for so long, and now it's probably below what it might have been worth had it been properly priced originally. Which makes it a good deal, especially if there's still some negotiating room.