PRICE DROP - 20 Meadowcliffe Drive - THE BLUFFS

This house at 20 Meadowcliffe Drive on a HUGE 160 x 750 foot lot over looking Lake Ontario has been listed since July 2011.  It was initially listed at $3,495,000.

Then the price was dropped in September to $3,195,000.  I posted it in December.

Guess it didn't sell because it was relisted in April for $2,995,000.  Again, it didn't sell.  I guess people aren't prepared to pay Forest Hill prices in Scarborough even though the lot is amazing.  t still hasn't sold.

The price was dropped again 2 days ago to $2,799,000.

This house is worth more than $2,500,000.  It can't go that low, can it?