Reminder: a robust seller's market is still yielding losses for many owners

One Old Round Hill Road (June 1 contract) has closed at $4.460 Million. Purchased new for $5,901,325 in January 2004, the owners put a lot of money into extra features and improvements and listed it for $8.495 million in 2016. Four years on, this is what they got for their efforts.

55 Mooreland Road

55 Mooreland Road, set on the market waters in July 2019 at $6.2 million, has sold for $4.4. It was purchased for $4.880 in 2007 (and $5.6 in 2003, when it was a wreck), but these sellers poured a lot of money into it, for naught.

As an aside, anyone tempted to pay in the $6s or $7s for a house these days might want to dig deeper into the inventory; there are a lot of deals in the low $4s available. And $3 buyers, if you can afford to dig deeper into your pocket, look up a bit, or negotiate harder on those $3s — it’s a hot market, but there are many $3.5 houses that are substantially inferior to many $4.5s, “inferior” by far more than $750,000 or so.