Catch a falling knife

Nobody likes me, everybody hates me, I’m gonna go eat worms

7 Chieftans Road is new to the market today, priced at $3.395 million. This was/is a nice development over on our western side next to King Street, but it fell out of favor long ago and prices reflect it. This unit sold for $5.625 million in 2007, those buyers sold it to the current owners for $4.5 in ‘09 (after starting at $5.975 the year before), and now, a further $1.1 mark-down.

Even this discount may not be sufficient to produce a buyer, but credit to the owners and their agent for recognizing the reality of the market out there.