| Built for today … with yesterday’s charm |  |
 |
 |
|
LOCATION: This architecturally designed cedar-shake Colonial-style house is well situated on a spacious, level lot in Wilton. PROPERTY: Set back from the road on two acres, this home has a backdrop of mature trees, a picturesque stone wall, lush gardens, tiered patios, and a circular drive. HOUSE: There are many outstanding features in this Craftsman-designed home, beginning with the welcoming wraparound porch. Moving inside, the custom details include vaulted and nine-foot ceilings, hardwood floors and bow/bay windows. On the main level is a living room with fireplace, dining room, family room with fireplace, den, eat-in kitchen with pantry, sunroom with stone floor, and screened porch. On the second level is the master bedroom with walk-in closet and bath, two bedrooms with baths and walk-in closets, a fourth with walk-in closet, and a great room with a cathedral ceiling. There are two half- baths. GARAGE: Three-car attached. PRICE: $2,395,000. REALTY: Realty Seven Inc. Agent: Deborah Estes, 762-5548. Photography: David Ames. |
Hi Chris,
are you trying to give me a hint on my listing?..the one that i called you bout today?? you know who this is, right? Thats good -lets keep it a secret
instead of “real estate” agents we have become “secret agents”. ha
ps- below 399 sqft for new construction! now thats a deal. Mad monkey is probably cringing!
IIRC, Shiller at Yale has written about US housing prices being stagnant (or even depreciating) for many decades in prior eras (before ’70s wave of housing inflation)…much of housing appreciation depends upon expectations of buyers re: future price appreciation, not any material increase in actual costs of new housing….
US (and esp NYC suburbs) have much empty land; jobs can easily leave regions where costs become too onerous….and building costs are cheap (and falling) w/underemployed, but competent, builders looking for new projects….will prob be able to build a higher quality house now for less money vs any of the stuff built during the Bubble….
Nice house/property.
Hell, if it weren’t for my stubborn and irrational resistance to the concept of leaving my home town of 62 years, I wouldn’t mind selling my tear down off Lake Ave. (not that developers would be lined up to buy our property now days) and moving into this home.
This abode is bigger than the homes you and I grew up in on Gilliam Lane, and the property is about four times as large (although I recall your back yard was expansive enough to play a game of baseball with you and your siblings making up one of the teams). Yet I’d guess our Gilliam Lane homes would sell for as much as, if not more than, this house, even in this depressed market.
Dear Chris,
Wonder what you think about this? A plastic surgeon in Greenwich is trying to sell his 133 Parsonage Rd home himself for 5.7 million. Dr. Darrick Antell is a talented dentist turned plastic surgeon who has a nice practice on Park Avenue in NYC. Nice guy. Has a nice doctor wife as well who is not in practice since she raised the kids-most of them now in boarding school or college. The surgeon had a few lawsuits over last 10 years, none recently but they may have put some mud on his boots unfortunately-they happen. But with the economy downturn, he’s probably not doing as many plastic surgeries. There are plenty of plastic surgeons around already. He used to be on New York Magazine best doc list – but not there as much today for what it’s worth. Probably doesn’t help his practice.
Is this a good price? – 10 house pics look great! Should or could a great plastic surgeon also be a good realtor? If it’s priced right who needs a realtor? The commission to a realtor would be about $290,000. For a quarter million dollars to stay in my pocket, I’d sell it myself if I were in Dr. Antell’s shoes.
Is this sell it yourself becoming a trend? Perhaps.
http://www.zillow.com/homedetails/133-Parsonage-Rd-Greenwich-CT-06830/58786770_zpid/
actually i found the doctor antell house on zillow.com-which said “make me move” for $5.7 million-can’t tell if it is a “listing by broker” or “for sale by owner”-zillow.com seems a bit confusing to the newcomer-as confusing as buying a $5.7 million house with little skilled advise.
Taxes Chris? Aren’t they at least double in Wilton?
But that wouldn’t affect the cost of building. Ownership, yes.
1. Cost of ownership is part of the cost of a building. If you buy a car that is 1 year old, you won’t need much in maintenance so you’ll pay more for it than you would a 10-year-old car. Cost of ownership is ALWAYS factored into cost of an asset (whether it’s storing your oil for your contango trade, or paying your taxes for your home).
2. Wilton is a far longer commute to NYC (or Stamford). There is a value to be placed on proximity to your workplace and to being able to go to dinner in the city, etc. People will pay for having more time NOT on train/subway/car.
So what I am saying is: there are reasons beyond just “what can 2 acres, wood, and some asphalt cost?”. You, Chris, of all people should know the mantra “Location, location, location”.
Because you could then extrapolate a few more miles and hit Delaware (cheaper!) and then a few more past that and hit Nebraska (cheaper still!)
Building anything in this town cost twice as much: The contractors who live in this town want to stay and charge accordingly.
Any outside contractor will also raise their prices when they realize they are bidding on a Greenwich property
Oh I’m aware of that – a fellow I know who does foundations is based in Wilton and told me that he always charged an extra 20% for Greenwich jobs. Not that it cost him more – he just knew what the market would bear. My point is, with buildig down, you could probably call that Wilton guy today and get the job done for 20% less than his “Wilton” price.
As someone else mentioned taxes play a major role in the cost of a home, second, proximity to NYC is also (despite current conditions) a factor.
As someone mentioned above, taxes play a major role in the cost of a home and secondly, despite Wall Street’s current difficulties, proximity to NYC also plays an important role.
remember back last summer, when people were saying the suburbs were doomed…..??? at least some people were and maybe they weren’t talking about fairfield county. I believe they had some valid points.
so if oil is $150 a barrel then living in the outer burbs like wilton is not so appealing.
I was not saying that Wilton prices should rise to those in Greenwich or vice versa – I do understand the different costs of ownership, like taxes and commuting time, etc. I was saying that builders in greenwich have been charging, say $800 sf for their fanciest homes and yet here’s one that seems just as fancy selling for $400 (or whatever – I didn’t calculate it). And, in a depressed market, I’m questioning whether builders can continue to charge what is in effect a 100% premium for living in Greenwich when their own costs don’t justify it. Of course, if huge new homes here start selling for $2.5 million then that will indeed drag down every other house’s price, but that’s another story.
But that $800sf includes the cost of land no? The premium for land in Greenwich vs Wilton eats up a lot of that difference? What am I missing? I’ve had this argument with my wife forever about the ridiculous premium we pay for living in Greenwich. Maybe that premium dissipates over time but I’m always told you can’t compare Greenwich with other Fairfield towns.
yeah, probably. But when negotiating with the bank foreclosure unit ….
I am just curious:
How much will 2 million buy up in Madison, Clinton, Guilford or even :gasp: New London CT?
I don’t know, OGRCC, but a family member is negotiating with a lender on a foreclosed house in great condition in Norwich (which I understand is somewhere far east of here) for between $75-$85,000 – a rounding error here in Greenwich. Price when it last sold? $350,000. Go east, young man.
When one hires subs who employ illegals, it is not difficult to keep cost to $125 sq ft.