Here's a fairly-uncommon sight these days: a price cut
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127 Stanwich Road, which was launched on the resale waters last March at $5.250 million, has, after a suitable period of price discovery, been dropped to $4.750. The owners paid $4.450 million for it when it was new in 2006, put in a pool and made other improvements, so to see no appreciation over 18 years must come as a disappointment.
This may serve as a reminder to other buyers during this period of irrational exuberance that we went through the same thing back in 2002-2007, and the aftermath was pretty ugly for a long time.
