This Chappaquiddick Contemporary hit the market in August for $503,000, an uncommon asking price that often signals some sort of bank involvement. Sure enough, the property is currently bank-owned, having previously sold in 2005 for $650,000. Built in 1981, the boxy four bedroom sits on an acre and features one bathroom, hardwood floors, two decks, central air, and an outdoor shower. There's even fresh paint on the walls, new carpet in the bedrooms and a new stove and dishwasher in the galley kitchen. As for the bags of trash and dozen or so half empty bottles of booze, they might just be staging, so don't count on them being part of the purchase. Last week, the chopper swung through Chappy and the asking price is now down to $474,900.
· Listing: 15 Caleb's Common Lane, Edgartown [Trulia]