Vineyard Lane price cut or, what a difference a decade-plus makes

32 Vineyard Lane was purchased for $13.750 in 2006, returned to the market a year ago today at $11.5 before dropping to $11, and now has a new agent but the same price: $11 million.

It's not the fault of the agent who had the listing last year that this place didn't sell: he's excellent, but the market for 11,000 sq.ft., $10,000,000 homes, always thin, has almost disappeared since 2006. This 1930 house, wonderfully restored, will certainly sell, eventually, but probably not at this price, and probably years from now. I'd advise the owners to stick with their agent, but suck it up, acknowledge their folly on that 2006 price, and move on.