A fool and his money ...

591 Indian Field Road—meh.

591 Indian Field Road, Mead Point and bank-owned, has sold for $3.250 million. I made several runs at this property on behalf of clients since it first started off in 2008 at $8.9 million. The trouble was always that the owners owed far more than the property was worth, and refused to consider a short-sale.

Who can blame them, but the end result was losing everything anyway. Last asking price before title passed to the bank in 2015 was $2.995. While it's really a tear-down, it's sited on just nine-tenth of an acre in the two-acre zone, so the buyer is almost doomed to try to renovate it, at great cost.

That could work: who doesn't like Mead Point? But i'd have been wary of paying more for a house than it couldn't fetch in 2015—it certainly hasn't  increased in value over the past two years.