The listing for 26 Stag Lane, originally listed in 2015 at $3.950, described the premises thus:
TOTALLY RENOVATED TO THE HIGHEST DETAIL. SITTING ON OVER 4.34 QUIET ACRES WITH A COMBINED SQ FT OF OVER 10,103(PER OWNER), THIS HOME WITH A PRIVATE REAR YARD AND POND VIEW STANDS APART IN TODAY'S MARKET PLACE. JUST MOVE RIGHT IN AND ENJOY ALL THE RECENT IMPROVEMENTS. NEW CEDAR ROOF, NEWLY PAINTED THROUGHOUT, ALL NEW SINKS, CARPET, AUDIO SYSTEMS, HARDWARE AND SO MUCH MORE. IT REALLY MUST BE SEEN!!! YOU WON'T BELIEVE IT!!
It closed today for $2.825.
The place, when new in 2007 sold for $4.250 million, but those buyers ran into difficulties and it was foreclosed on and eventually sold to these sellers for $2.6 in 2013. Assuming all the improvements described in the listing were actually made, and I have no doubt they were, this sale represents quite a loss.
There's often a reason a house can't sell and goes into foreclosure: in this case, location was that reason, and all the new cedar roofs and redone kitchens can't change that.