Look back, but don't stare
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Word from Gideon is that 851 Lake Avenue, which hit the market a week ago Thursday at $6.395 million, is already gone. What a difference from the bad old days of post-2008 crash through 2020, as my previous coverage of this house illustrates.
I first posted on it in 2017, when it had already been sitting on the market for two years:
The Back Country continues its decline
851 Lake Avenue, which started off in February, 2015, at $5.5 million, has dropped again today, to $4.195.
Mind you, this property has more than its unpopular location going against it: It's on a long, very (very) narrow lot, and gold bathroom fixtures are so 2003.
I posted again on the property after it finally sold in 2018:
Sale price reported (way up) on Lake Avenue
July 13, 2018
851 Lake Avenue, $3.775 million. It's been on the market since February, 2015, when it was initially pegged at $5.5, and I imagine the owner was delighted to be rid of it, even at this discounted price. I'll confess that I always hated the property itself: it's a narrow, stretched sliver of land, which, to me, defeats the whole purpose of living in the back country — why live in an alley? — but this sale just shows, once again, that at the right price, there's always a buyer.
Now, seven years later, those buyers are more plentiful, more generous, and much easier to find; for now.
