Selden seen, but finally, a buyer has surfaced

The owners of 3 Selden Lane (under the Westchester flightpath near our northwest border; off Cliffdale, off Riversville) paid $4.5 million for it in 2005, and placed it back up for sale in September 2021 for $3.875, 553 days ago. Today it’s reported under contract, and given the time that’s elapsed since that November price cut was taken, it’s a safe bet that it’s going for even less.

It has a very odd layout, with 8 bedrooms and 9 baths in 7,104 sq. ft. that seem to stretch out forever, but I imagine that the main problem in selling it was the owners’ refusal to budge from that first price from August, ‘21, to November of ‘22, when they finally dropped it to its present $3.4.

The listing agent here is very experienced and highly skilled, so I’ll attribute this refusal to face reality to the owners’ reluctance to realize a loss, but their loss is your gain of a valuable lesson, if you’re getting ready to sell your own house: in this market, if you aren’t receiving solid offers within a few weeks (and in hot areas like Riverside and Old Greenwich, a few days), you’ve missed the target and are overpriced, and by a large margin. Go south, young man.