I'm stumped. After undergoing what sounds like a major renovation in 2007, this property came on the market in February '08 for $895,000. It didn't sell. Today, a year later, the property is back on the market and voila, the price is $995,000. As far as I can tell from the property listing, nothing has been done to upgrade the property since the last listing.
So, help me. How does one rationalize a $100,000 price increase during one of the worst years in Greenwich real estate in decades? I know, I'm getting on thin ice when I start asking about a rationale for pricing, but someone has to do it. Maybe after I see the property at the Broker open house, I can shed some light on this puzzle. Who knows, maybe the property was severely under priced last go round and the market missed this opportunity.
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