31 N. Porchuck has dropped from $10 million to $8.9 after just 28 days on the market, but I don't think that will even come close to persuading buyers that there's a deal here. This property provides an excellent example of depreciation: it sold new in 2007 (awful timing) after just 63 days on the market, for $7.850 million, then for $6.250 in 2009. I can't see anything in its new configuration to justify a $4 million price jump or even, as of today, a $3 million hike. The house itself is dull and predictable; a typical home of this era, exactly like all the other houses being thrown up ten years ago, and the property itself is so-so. Porchuck Road is a loser, and simply doesn't command this level pricing. And, despite the agent's claim that the home is a mere "ten minutes from town", I defy him to prove that without getting a speeding ticket - flying cars haven't hit the market yet.
3 Macpherson, on the other hand, is close to town, and has a grace and charm that this builder's spec job does not. And it's about $1.5 cheaper.