House sales

9 Ridgebrook (near Greenwich Academy), ML # 73453, sold for $2.6 million. That’s a hefty price for this place, but not as hefty as the $3.7 the sellers tried to get for it in 2007. They’ve been whacking the price ever since then and after dumping their first broker and retaining another, they finally got it to $2.695, which attracted a buyer. This place last sold, as a wreck, in 2003 for $1.861 and the new owners did a lot of work to it. The assessed value was just $1.630 but I don’t know if that reflected the improvements.

9 Boyd Lane, ML # 72202, that little dead end off Riverside Lane and at the epicenter of last year’s whiffleball kerfuffle, sold for $400,00, down quite a bit from its ask of $575,000 and way down from its assessed value of $661,780. At $400,00o, even an obsolete little cottage of 1,200 sq. ft. seems reasonable, or it does this year. We’ll see what it looks like next July.

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2 responses to “House sales

  1. Anonymous

    Can the land value in that area around Boyd, be worth much more than that? If the buyer had paid $500 or even $600, by the time he has spent $600 on construction, a property in that area near Thornhill, wouldn’t be worth much more, in this current market.

    To “save” the $200,000 may be false economy. What is you honest opinion, Honest Joe ?

    • christopherfountain

      I thik the days of $750,000 land sales in the Riverside Lane neighborhood are long gone. But $400 sounds almost, sort of reasonable. If you keep your total costs under, say, $875, I think you’d be alright with a new home at that price. Bringing in a new hosue at $475 may be a challenge, of course.