Good news, bad news

The good news is that 1 Flagler Drive, asking $5,900,000, went to contract over the weekend, presumably for something less than asking price but proof nonetheless that there are still some deep-pocketed buyers out there. The bad news is that this gargantuan (by my standards – at 11,000 sq.ft. it’s probably tiny for other folk’s taste) mansion sat on the market since September 2, 2005, when it asked $8,495,000. Lesson here, I suppose, is that if you slash $2.5-$3.0 million from your asking price, you’ll eventually sell anything in this price range. Another lesson is don’t be so silly in the first place.

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2 responses to “Good news, bad news

  1. Anonymous

    Good News – Bad News – Good One – Chris – Now – Please consider showing more pictures – I – for one – would like to see some pictures of properties that you find interesting and ‘priced-to-sell’!

    I like Old Greenwich and Riverside area – under 2 Million – for starters – I just do not think the
    ‘High-Rollers’ millions upon millions – are all that interesting to read about – mostly because they are out of the ‘price range’ that most are interested in.

    Thank you for the picture – it is a nice feature – and like it has been said: a picture is worth a thousand words.

    I again – for one – really don’t care about what these ‘spoiled Brats’ in Greenwich, Ct. are up to. Where’s Mom and Dad? Let the Boy’s and Girl’s club go on some ‘Field Trips’ to show our young citizens – just how lucky they are to live and go to school and in Greenwich, Ct.

    Enough is Enough – covering these :’Spoiled Brats’!

  2. Chris Fountain

    You’d be depressed (I am, anyway) how slow the market is these days for the $2,000,000 and less houses. Mortgage money is so hard to come by – Fannie Mae is the only national game operating right now, and it limits loans to $717,000, not enough to do much good in this town, leaving buyers with private lenders who keep their loans in house. They prefer multi-millionaires as customers. But I’ll check the stats and report back soon. The $1.5 -$2.5 house used to be the bread and butter of the Greenwich market and, with luck, will be again. In the meantime, there’s not a heck of a lot going on there.