Up on the northern border ...
/Reader “Beerisgood07”, which I assume is not a pseudonym, points out a new listing at 1110 Lake Avenue, almost a Westchester property, which has dropped from its 2022 price of $3.625 million to $2.825 and suggests that it “looks like a bargain”. It could be, or our reader is wearing beer goggles: time will tell.
The owners paid $1.875 for the house in September 2020 in the depths of our COVID doldrums, swayed, possibly, by this description in the listing: “Beautifully updated and spacious center hall colonial on 2.7 park like acres raises social distancing to a new level.”
Eighteen months later, perhaps because they found that living in the Arctic provided too much “social distancing”, they put it back up for sale, and although they’d done nothing in the way of improvements during their brief occupancy, seemed to think that they’d gotten more than they’d bargained for, and priced it at the aforementioned $3.625 million. The house went nowhere, which is why its address is still 1110 Lake Avenue, and now it's back. The new price is better than last year’s, but has it appreciated $950,000 since 2020? Stay tuned.