|6 WYCKHAM HILL – $4,390,000|
It’s always a challenge to convince a seller that the market is not willing to meet the original purchase price of their property. Commodities and markets are always in flux, and some people just don’t time it right.
This property was purchased for $5M in 2004. They tried to sell it for $5,850,000 in 2010 – obviously trying to capture their costs of renovations (another mistake since everyone’s tastes are different). The price eventually dropped to $3,990,000.
The new listing claims that the “interiors have been re-imagined” – but there are no interior shots available to share with you…
Another way to look at it, is that the seller has lived in the property for 10 years. If he had rented a similar home, the monthly cost conservatively would have been $15K or $180,000 – over 10 years – $1,800,000. He should be happy with $4M.
|CLOSE TO TRANSPORTATION – JUST A HOP/SKIP TO THE NORTH ST EXIT|