Foreclosure complete after years of legal maneuverings, 591 Indian Field Road, Mead Point, is back on the market, priced at $3.475 million. That's not gonna happen.
This is an obsolete structure of no value beyond the land it sits on, which was peddled for years and years, starting at $8.9 million back in 2008. The former owners paid $1.560 for it back in 1996, and how they convinced banks to lend more than that in the ensuing years is a testimony to the fraud and chicanery of the era.
The last gasp price, just before foreclosure went final, was $2.995 million in 2015, and it didn't sell even then. Nothing has changed since: the value is the 0.9 acre of land in a 2-acre zone, period.
And that's nowhere close to $3.475.