Feeling cocky on Sherwood

62 Sherwood Avenue, out by the airport, has raised its price $450,00, to $5.2 million. Sold to these builders owners for $3,557,500 last November, they put some new windows in — nice to have, but buyers won’t pay for them — and redid the kitchen. Judging from the number of pictures devoted to it: 6, they’re either exceptionally proud of their handiwork, or there’s nothing much else to boast about. From what I can see from those kitchen snaps, it’s the latter.

In any event, they started this off at $5.1 back in August and, finding no buyers, dropped to $4.750 on September 27th. Now, the owners have presumably had enough offers come in that they’re confident they can get more. And perhaps they can: reading tea leaves here, I’m guessing that someone has offered around $5 million, and the owners think there’s more where that came from.

The danger in this strategy is that the seller risks pissing off and losing the first bidder, and no one else steps up. It’s happened.