In contract, out of contract, and back in contract again

64 Butternut.jpg

64 Butternut Hollow Road, which was reported here at the beginning of February  as having finally found a buyer, was returned to the market after that deal apparently fell apart, is again under contract. I hesitate to speculate on something I don't know for sure, but I notice that the house is clad in that synthetic stucco, Dryvit, which had quite a few problems with moisture penetration and rot back in the the late 90s. In fact, a class action suit was settled in 2002 over the issue. Did the first contract fail after a building inspection? Again, I have no knowledge of the situation, only speculation, but if this house comes back on the market again, that speculation will escalate to suspicion.

Its asking price has been $1.750 million for some time now, which must be a source of disappointment to the owners, because it was originally listed at $3.250 all the way back in 2014. Agents and owners can make mistakes in pricing homes — we're all human — but missing the mark by this much is unusual.