Hmmm…for an allegedly “good” market, I’m not thrilled by some of these reported selling prices, especially when a Riverside property turns out to have sold for way less than most brokers might have imagined.
21 Indian Head Road, Riverside, is just such an example. It started at the perhaps ambitious (Chris Fountain might use a more unkind word) price of $4,700,000 back in April, 2012. It was reduced twice, down to $4,100,000, before finally closing today at $3,750,000, or nearly $1,000,000 off that first asking price.
This is a really nice house, completely (and fairly recently) expanded and renovated, and I’ll bet most brokers figured the eventual sale price would begin with a “4”. It’s a fact that asking too much in the beginning will result in getting less than you could have in the end, but still, this one’s surprising.
The good news: Sellers are willing to “cut till it sells”, and the buyers are out there, ready to pounce.

21 Indian Head Road, Riverside (corner of Willow Rd), last ask $4.1M, closed today at $3.750M.