Perhaps you will find this house to be a better "bargain":
http://www.siroffices.com/brokerages/greenwich/details.asp?Propertynumber=0063143&quicksearchyn=y&FeatureProp=y&splash=greenwich
The point I hope to make here is that applying crude statistics to discrete local markets is meaningless:
"...sound and fury -- signifying nothing..."
You nailed his MO. Take a miniscule extreme worst case scenario and try apply it as if it were global. Chicken little syndrome.
Now you've done it!
Gigi and extex are planning your show trial....after the revolution when the purges commence.