That “Riverside Magic” Further Illustrated

78 Doubling Road (link shows before/after) is back on the market today for $6.50M.  What’s amazing about that is this place fetched $8.6M back in Aug. 2007. Big deal, you say, that’s the story of the market. True, except for the real estate world’s “Bermuda Triangle” known as Riverside, where prices refused to drop.

I’ve even got a splendid example in the exact same price-range:

35 Club Road (link shows before/after)

35 Club fetched $8.675M in the fall of 2008.  This year it sold again, for $8.450M, so the sellers were stung by a whopping 2.5% decline!  Shouldn’t we all have been so lucky.

Two perfectly nice houses, two completely different results. A puzzle.

78 Doubling Road, back on the market at $6.50M.  Last sold for $8.6M in 2007.

78 Doubling Road, back on the market at $6.50M. Last sold for $8.6M in 2007.

Meanwhile, 35 Club Road takes a modest 2.5% haircut, from $8.675M in 2008, to $8.450M in 2012.

Meanwhile, 35 Club Road takes a modest 2.5% haircut, from $8.675M in 2008, to $8.450M in 2012.

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