A price cut we can all admire

40 Doubling Road was placed on the market on November 1, 2022, at $4.2 million and has failed to sell. So today its price was chopped by $700,000, to $3.5. Significant price cuts like these always impress me because they’re bold; don’t nibble timidly away at an obviously wrong price — and in this market, if your house hasn’t sold in 3 months, you are indeed way overpriced — accept the fact and deal with it.

Will this be the property’s final cut? I’m guessing it will be, other than final negotiations, because it’s in an excellent location, and the house itself, though built in 1968 and not recently modernized by its late owner (who led an impressive, long life, by the way) could probably swallow a $milion-or-so in renovations and still be okay.

Or not; it’s the market that decides the things, not third-party observers’ opinions, but $700,000 is a good start toward finding this home’s value.