Sometimes it pays to wait, sometimes not

The presumed buyer of 25 Came Cock Road, Byram, asking $3.1 million, is one of the winners. Originally priced at $4.9 million in June, 2017, it slowly dropped to today’s price and is reported as pending. Of course, it also had a pending deal last September, when it was asking $3.6, so you never know.

Nice house, built in 2005, but it lacks a dock, which are almost impossible to build these days, and it’s in the VE zone - 17 feet minimum height requirement. This one’s main floor is measured as 17’2”, so that’s okay, but the listing also notes that the ground floor has “breakaway walls”, and that may have given potential buyers damp feet.

Here come the waves!

110 Meadow Road

On the other hand, 110 Meadow Road, in Riverside, priced at $2.795 million, is also pending, and after just 35 days. It was priced at $2.995 when it hit the market on May 15, but dropped $200,000 two weeks later; obviously the owners and their agent listened to the market and yielded to reality, rather than cling to an illusion.

Not that that first price was a mistake, because there’s no way to nail the right price to the penny. What worked for Meadow was that the house came on at a reasonable initial price, and then moved quickly to grab a buyer before we slipped into the summer doldrums. Smart.

So, wait to bid, or move on a house immediately? If you trust her skill, I’d advise you to listen to your agent (and your own gut), who should be able to tell you whether a particular house is priced reasonably close to the mark, or whether the owners have jumped the gun on Connecticut’s proposal to legalize marijuana..