As I warn my own clients who are about to buy in a "bargain" location, the same discount they're getting will also be demanded by the next buyer

The owners of 300 Riversville Road paid $1.585 for it in 2019 after the seller had started at $2.685 in 2017. This time around, they listed it for $2.3 million in May, quickly adjusted to the reality I mention above, and have sold it for $1.8.

It’s an interesting house and some improvements were made during these owners’ brief tenancy, but the location: across from the Merritt Parkway and right on the often-flooded Byram River didn’t change.

It’s very much lie buying a used sailboat during down markets: pick one up for fraction of the asking price, enjoy it, take pleasure in it, but don’t be disappointed when, after advertising it for sale yourself, some stranger in Topsiders comes down the gangway and offers you the same small bag of peanuts that you paid.

NYC buyers, who probably plan on calling the Super when the basement floods.

(previous listing)

(previous listing)