25 Dialstone Lane, Riverside, cut its price from $6.195 million to $5.995 today, its first reduction since appearing on the market May 28th. I wasn’t taken with its design back then, and said so. Most commenters —12 out of 13 — agreed with that assessment but one, a very astute, experienced realtor, thought that its interior was fabulous enough to overcome its unfortunate exterior, and opined, “I wouldn’t be surprised if it had a deal by this weekend”. Well, the kid never did have much taste, so ….
But leaving the wild architecture aside, the problem of the home’s placement on Dialstone remains. It’s a perfectly nice street — my own aunt lived at 19 Dialstone for a decade or so, and was quite happy there — but the highest sale price on the street, so fa,r has been No. 12 for $3.795 million in 2021, and No. 9 for $3.050 in 2020 — every other sale has been below $3.
That’s not to say that 25 can’t fetch more, but $6 million is pretty aggressive. I remember back in 2009, a builder put up a spec house at 5 Dialstone on the corner of Lockwood, and priced it at $3.095; I scoffed at the price, in print, and suggested that out-of-town builders often didn’t understand micro-neighborhoods, and this one had been naive in believing that because he could toss a rock and hit a house on Bramble, he could charge as much as new construction on that street. At least back then, Riverside prices were lower for houses on the wrong (north) side of Lockwood, and Dialstone, I suggested, was not Bramble.
Well, the day my column was published, I happened to be touring the house in the company in the company of its listing agent, my friend Rndy Kelleher, when the builder himself showed up. He’d just read the article, and was not pleased to find its author in his house, and made that displeasure known, Randy got between us and I managed to escape with all my teeth. For all the angry carpenter’s indignation, however, the house did not sell for $3.095, and instead it sat on the market for months before finally selling for $2.455 million in late August 2010, 20.7% less than that first price. The builder never did call me to apologize and congratulate me for my perspicacity.