Price cut on the waterfront in Byram

25 Game Cock Road, which was priced at $4.9 million last May, is today priced at $3.950. Yes, it's Byram, but waterfront, even in that part of town, usually finds a buyer more easily than this one.

The exception to that generalization comes when a particular home is overpriced, but in this case, we can forgive the owner for pricing it where he did: the town tax department appraised it (100%) $4,690,400. That's not to say the town is always right, the number must have added support to the decision to slap a $4.9 price tag on it.

On the bright side, the next owner can probably look forward to a significant reduction in his property tax.

(Afterthought: the house is in the VE (17') and AE (14') flood zones. It was built in 2005, before the hight requirements for those zones were increased so drastically. If it's non-compliant, and I'm betting it is, that's a real turn-off for many buyers.)