Monthly Archives: November 2008

From the WSJ

Courtesy of a friend, here are the twin Wall Street Journal’s Thanksgiving editorials, reprinted every year since 1961. The Journal has never seen fit to replace or update these and I sure don’t either. In fact, Vermont Royster’s observations seem … Continue reading

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Filed under Buying/Selling Greenwich Real Estate

Welcome, Africa!

Since being forced off Google’s Blogger onto this WordPress platform a few weeks ago I’ve had a few difficulties adjusting. All in all, it seems an improvement but I lost one of my reader counters, Sitemeter, tht despite promises, doesn’t … Continue reading

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Filed under Uncategorized

When bad things happen to good offers

From reader Cos Cobber Not Cos Cobber comes this tale of woe: You say that there are no contracts out there but this time, instead of being too late or missing one, my favorite possibility got ’stolen’ from under me. Someone … Continue reading

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Filed under Buying/Selling Greenwich Real Estate, current market conditions, Negotiating tactics in real estate, pricing

Meltdown, for Hitler, in Germany

I think I posted this before but it arrived back in my mailbox and it’s still hilarious – Hitler receiving word that his subprime mortge is in trouble. If you missed it the first time around, try it now. Hoo, … Continue reading

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Chase Auto Finance Sucks!

So a guy in Cos Cob lists his Subaru on Craig’s list: 2007, take over lease, low mileage etc. My brother in Maine spots the ad, knows I’m looking for a car for my daughter, sends it me and there … Continue reading

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When real estate won’t cooperate …

Nothing doing in the Greenwich market today: no contracts (well, that could be said of November as a whole) no interesting price reductions, no new listings and certainly no sales. So before I head out to attend to Thanksgiving food preparation … Continue reading

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Bad year ahead, according to Forbes

Ah, what do they know? But still, they seem to hit a few nails squarely on the head, like the fact that, while one could expect housing to start back up again once prices hit 2003 levels, the market fundamentals of … Continue reading

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Filed under Buying/Selling Greenwich Real Estate, current market conditions

How can this be?

Cancer rates decline in U.S. This simply can’t be true – we’re living in a toxic waste pile where every day Ralph Nader and his ilk discover new, ever-more threatening hazards like plastic water bottles, cellphones and latex paint. Cancer going … Continue reading

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Mortgage rates fall on Fed intervention

Government guarantees “good” mortgages, Rates fall. That’s nice, but I worry at the seeming nonchalance with which our country is watching what’s left of our free market system turn into a centrally planned and run socialist scheme. When our cars are … Continue reading

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Well it’s media coverage at its disgusting worst

But some news crew made it out to Greenwich to Dickie Fuld’s house. Long tape with lots of boo-hooing by employees who seem to resent the bonuses Fuld and his cronies got but there’s a brief, amusing snippet at the … Continue reading

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Oh, won’t you please just shut up?

California school bans kindergartners from dressing as Indians at Thanksgiving pageant.

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From the “Letters you don’t want to receive” department

Reader Robert Fiala passes along this tidbit from a 1031 stakes holder. As he says, you can lose your money in a 1031 exchange – who’d have thought it? As an aside, the excuse they give for folding: the auction … Continue reading

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Filed under Wall Street

More on Conyers (no ‘) Farm

From reader John Martin, elberonstation1975@yahoo.com   CONYERS Manor was named after E. C. Converse, who elected to use the Old English spelling and pronunciation of his family name to give a more baronial title to his 1551 acre estate in the … Continue reading

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Pricing

I saw a house today which, because I don’t want to embarrass  the owner I won’t identify, that was recently built on spec and put up for sale in the $7-$8 million range. The house is very nicely built: antique brick, … Continue reading

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Filed under Buying/Selling Greenwich Real Estate, current market conditions, Developers

Flat lining

718 North Street This place sold just after 9/11 for $3.583 million. Seven years later, after a price reduction, it’s offered for $3.595 and has no takers. Has every house in town dropped to its 2001 value? Nah – I’m … Continue reading

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Wuxtra, wuxtra, read all about it! Home prices decline

Again. Case-Shiller index shows a 16.6% decline, and that was just the third quarter. The fourth is predicted to be even worse. Like politics, all real estate is local and I wouldn’t necessarily apply the percentage of decline experienced in, say, … Continue reading

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Is RBS the next bank to be nationalized?

Bloomberg thinks so. The trouble with this wave of nationalization of the investment bank business, from a Greenwich real estate perspective, is that government jobs rarely pay the kind of out-sized bonuses that sustained our wonderful prices for so long. State … Continue reading

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Realogy – the squabbling of the vultures begins

The majority of Realogy’s bond holders have claimed that the company’s attempt to water down their holdings constitutes a breach of Realogy’s fiduciary duty owed to its investors. Realogy is the parent company, for now, of Coldwell Banker and Sotheby’s, right … Continue reading

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Filed under Realogy Death Watch

Apples to Apples

30 Owenoke Road in Riverside sold for $2.950 million in June, 2006. Things have been slow around here (did you notice?) so when the buyers (Nokia) decided to resell it  in July of this year I thought it was a pretty … Continue reading

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Filed under Buying/Selling Greenwich Real Estate, current market conditions, pricing

Luxury homes in today’s market

A reader sent me this link to an article in Barrons “Sand Castles – Half-Price Mansions”. Nothing new to Greenwich residents but it discusses the disappearance of foreign buyers, the reluctance of buyers to pay anything close to asking price, … Continue reading

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