Got to admire a man who says, "enough's enough", but is it?

78 Zaccheus Mead lane shed almost $3 million today from its initial October price of $12.750 to $9.875. It’s a truly remarkable house on a great street, but the $13 million this owner paid for it in 2006 was probably ill-advised (and aren’t I glad I didn’t represent him). It was returned to the market in 2012 at that same $13, removed in 2013, and came back last October with a new broker but the same price.

Maybe $10 million still won’t sell it, but I respect the owner for acknowledging a bad trade and making an aggressive effort to move on. I see this ultimately in the $7s, but who knows? It’s a fine property.