The Swamplot Price Adjuster needs your nominations! Found a property you think is poorly priced? Send an email to Swamplot, and be sure to include a link to the listing or photos. Tell us about the property, and explain why you think it deserves a price adjustment. Then tell us what you think a better price would be. Unless requested otherwise, all submissions to the Swamplot Price Adjuster will be kept anonymous.
Location: 18 Eaton Sq.
Details: 4 bedrooms, 4 1/2 baths; 4,308 sq. ft. on a 3,924-sq.-ft. lot
History: On the market for 3 months. Price cut $100K in early July.
The nominator of this property asks:
What am I missing here? Sure, this place has lots of nice finishes and shelving. And it faces a cute little fountain. But it’s still a garage-front 3-story attached townhouse that backs up to an apartment complex, in the shadow of an office tower. If I had $2 million to spend — or more likely, borrow — I’d want something more …. I don’t know … more.
What would be a better price?
I’d peg it at the tippy top of the townhouse market, maybe around $1.3 million, where it’s appraised. If you’re going to be spending around $40 thousand a year on taxes and maintenance fees for that lock-and-leave lifestyle, why not just grab a fancy overpriced high-rise condo with a better view instead?