Bank-owned on Wynn Lane

10 Wynn Lane has been brought back on the market at $2.995 million. It’s certainly a problem child, but the address is good, and the property itself isn’t bad.

The former owners paid $2.950 in 2005 and started a massive addition. They ran out of money, and put it up for sale, as is, in 2008 for $4.195; I wasn’t the only agent who, viewing it then, thought that an overly-enthusiastic number. The addition was okay, albeit still in need of completion, but it failed utterly to merge with the existing house. In fact, they were really two separate structures, connected only in spirit, and the better course might have been to raze the old and stay with the new.

The owners eschewed that solution so the price slowly dropped, while a foreclosure action dragged on at the same leisurely pace. No buyer appeared. Its final price in 2017 was $1.895, as land, and even that failed.

Will this new price for the same house succeed? The market has certainly changed since 2017, but the house itself hasn’t, so stay tuned.

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