Price cut in Belle Haven, from $17.925 to $13.900

118 Glenwood Drive

118 Glenwood Drive, direct waterfront. It's one of Chris Finlay's listings, and give him, and his clients, credit: the house was listed just this past May, at $17.925, and they've already taken it down $4 million. All of us can overestimate a property's value: few can acknowledge our error so rapidly.

I'll confess that I like this home's location more than I do its architecture, but that is of course just one man's opinion, and irrelevant, since I'm not in the buying pool. Belle Haven's a special place, and this house will surely appeal to those with differing tastes. I'll leave it to the market to decide what its true value is, because  the combination of direct waterfront and Belle Haven pushes prices way beyond comparable houses on dry land in other neighborhoods. Still, if I had to guess, I'd say that today's price is coming close.