I do see that 114 Cedar Cliff Road, Riverside, which debuted in 2014 at $10.750 million and has subsequently dropped, slowly, to $7.850, is offering a refresher view for agents who may have forgotten about it. It's a lovely home, right on Old Greenwich Cove and overlooking Rat Island, but it's a house built for grandparents, not active families, and that's hurt its chances during the past three years, and may still be damaging at its new low price.
No yard to speak of, no playroom inside (the twin bunkbeds in one of the photos are for visiting children, not full time, resident ankle-biters), and a pool that's fenced around the perimeter of the lot, not around the pool itself. While the pool danger can be addressed, the message of a child-free home is conveyed strongly by the listing notes to agents, prohibiting anyone under 18 from even entering the house.
All of which is fine; not every house must be suitable for young families, but those families comprise the bulk of Riverside buyers, and this is a pretty high price for downsizers. For this kind of money - in fact, for just a bit less than $5 million - that crowd can buy a condo on Oneida Drive, stay close to their Greenwich friends and head for Naples (Florida or Italy) whenever they choose, with no worries.
But give the sellers high marks for loyalty: most owners would have grown pissed off by now at an agent who priced their house at least $3 million more than its actual value, and possibly quite a bit more. Not these.