Market timing

900 Lake Avenue

900 Lake Avenue has sold for $3,652,300 million, after a bidding war that began at $3.550,000. What a difference a few years make. This 1790 house was purchased by a previous owner in 1994, who then beautifully restored and expanded it and put it back up for sale in 2010 for $4.125; seven long years later, in 2017, he finally sold it for $2.8.

And that buyer did even worse when he went to resell it in 2019: he asked for $2.850, couldn’t get it, and was forced to accept $2.2 million in 2020 from the current (until yesterday) owners.