Curiously, although this home has been on the market since June of 2009, its last pricechop came in March of 2010. After a little digging, we found out why the owner hasn't dropped the ask even more: They were hoping to quickly flip the property and it seems to have backfired. After purchasing the place for $740K in May of 2009, they added a pool, re-did the kitchen, installed all-new flooring, finished the basement and updated the landscaping. Prior to the renovation, it was listed as a two-bedroom?it now offers four.
While they wait for a buyer to materialize, they've also made the 1400 sq. ft. cottage available for rent. Asking price to help the owner cover their mortgage? $50K for the season.