Tough sale

7 cherry valley.jpg

7 Cherry Valley Road, asking $1.295, reports a contingent contract after 8 years. Started at $1.980 back in June, 2010, and its price dropped fairly quickly, but between the house itself, which requires either a complete re-do or a bulldozer, and the proximity to the Merritt Parkway, this four-acre lot lacked appeal.

To most buyers: now it turns out that someone likes it. In fairness, I thought the house was salvageable and the Merritt noise well buffered, so if someone wanted a starter home at a reasonable price (which I'm guessing will be below $1.1), the buy makes sense.

I wouldn't want to try a $4 million spec house here, however.