Daily Archives: January 9, 2012

How can they distinguish between the two?

 

The other white meat

Rat infestation explodes around D.C. Occupy camp

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Next up,these geniuses will draft math quizzes

Scotch in a can, $5 a pop. It’s early days, but I’m making this my front runner for an Ignoble award, 2012.

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This probably wasn’t a good idea

"Someone's in trouble, but I don't think it's me!"

Georgia school concocts math homework asking questions like how many slaves it would take to pick 56 oranges and “if Frederick Douglas was beaten twice a day, how many times was he beaten each week?”. I suspect that the scholars who came up with this idea are black, but the parents are upset nonetheless.

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Contracts at new prices

66 Cat Rock Rd

66 Cat Rock, 3 Fairfield and 5 North Crossway all report contracts today. Cat Rock is a charming place but with just one acre in the two-acre zone it’s pretty restricted by FAR so its 2006 price of $2.195 million made no sense. Its latest price of $1.199 obviously worked for one buyer, probably because the assessment is $1.099.

3 Fairfield, that junker on 0.1 acre was asking $499,000 but even at that price I’m surprised someone bit. I’ll be curious to see what it actually sells for.

5 North Crossway, marked down to $1.995 from close to (above?) $3, was a pretty good deal. Very beach housey and it sure looks like its yard floods regularly but the house has been there since 1912 so I presume it’s not going anywhere. I’d love to own this house. Another one selling for its assessment which, you will remember, is supposed to represent just 70% of estimated market value.

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Bank owned property in Riverside

People’s Bank has listed 30 Crescent Road for sale at $1.299 million. I’m sure this was a great house back when it was built in the 40’s but when it lost its backyard to I-95 a lot of the charm went with it. Interesting price history: listed for $1.675 in 2004, the former owners won it by bidding $1.760 (and aren’t I glad I wasn’t involved in that sale). People’s loaned $1.4 million on it in 2005 and ended up foreclosing. If the bank really gets $1.3 for it they’ll come off relatively unscathed but I’m not confident that they will.

Here’s a video from a former listing.

Listing_Content.aspx?AWK=69224&ub=1

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A big sale for Cos Cob

134 Cat Rock Road sold after just six days on the market for $3.237. Pretty nice inside, judging by its pictures (I never saw it – out of town). 2 1/2 acres, pool, all that builder stuff buyers still like, it seems like a lot of house. The listing agent sold it to her own client, which makes for a very decent payday – I’m jealous.

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How do you make a small fortune in Greenwich real estate?

Start with a large one. 18 Dingletown Road, on the market since last May, has cut its price to $1.825. Owners paid $2.4 for it in 2005, someone else paid $1.7325 in ’02, before the current renovations. Assessment is $1.237, which might be a goal to shoot for if you’re into bargain hunting.

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Where’s the only spot in the country where there is no recession?

Washington D.C., naturally.

Our Masters in Washington. Building boom going on. The D.C. area is also enjoying rising home prices, unlike those regions dependent upon private jobs and money.

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This seems about right

24 Stepping Stone Lane (off of Hill) has sold for $1.9 million. A 1997 builder’s special, on an acre, with a pool. Stepping Stone seems to attract buyers new to town, probably because it’s convenient and the houses are pretty much move-in. These sellers tried getting $3.195 back in ’09, which was sort of dumb. but $1.9 is pretty much where plain vanilla is selling these days.

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It’s baaack!

286 Round Hill Road, a nice old house with a great yard, although a tad close to the Merritt Parkway for my taste, started at $5.375 million in 2009 and expired unsold last May, when it was asking $4.495. Now a new broker has it, at $3.750. 2.6 acres in the RA-2 zone but still, in my opinion, not ready to sell. But your opinion may very well differ..

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No more deep water harbors?

The feds are set to spend $500,000 to test the muck in Greenwich Harbor but once they determine what’s there, that seems to be the end of the matter – no one has the estimated $12 million it will cost to actually dredge the place. Multiply Greenwich Harbor’s plight by the thousands of harbors on the east coast and it seems likely that we’ll be seeing shallow-draft multihulls as the only vessels who can use them. That will make things interesting for barges and the like.

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We knew this but ….

Wall Street prepares to take a massive pay cut. Worst since 2008, which wasn’t a good year for Greenwich real estate. I mostly represent buyers these days so take this with a grain of salt, but sellers,  this is not the time to hold fast to your dream price.

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