Buy in haste, lose money at leisure

101 Perkins Road was listed for $5 million in 2014 and had a full price contract just 35 days later. The buyers were represented by an out-of-town agent. I’m certainly not casting aspersions on that agent’s knowledge of the town and its relative values, but it is true that local agents usually rub their hands with glee when the see an out -of-town agent appear with her clients in tow.

In any event, the buyers attempted to resell the house in 216 for $5.295, failed, and rented it out. Today it’s back on the market, at the chastened price of $3.995 million.

There’s probably another price cut or two in this home’s future.