Take those price cuts early

3 Old Round Hill Lane, which started in 2015 at $8.995 million, has now dropped to $6,999

I showed this property to a client a year or so ago, when it was still priced at $7.995 million. I advised him that, though it was, maybe, a $6.5 million house, the owner had just taken a million-dollar cut on an illusory price, and he wouldn't be receptive to a realistic offer. We passed, and now that buyer's gone. 

I'm not sure I'd give the same price opinion today, given market conditions, but it is a nice house.