Overprice, kill your chances

17 winterset.jpg

17 Winterset Road (off Londonderry, off Stanwich), has dropped, again, and is now priced at $2.350 million. First broker had it at $3 million back in May, 2015. The craziness of this sort of thing is that there are plenty of houses in each price range, so there was absolutely no excuse for pricing this 1967 house at that original $3 million: there were, and still are, far better homes available at that price.

The new price is certainly more reasonable, but the owner has now sat tied to a property she doesn't want for 2 1/2 years, while the market declines and her own house appears less and less desirable as it is rejected by successive waves of buyers.