Daily Archives: January 10, 2012

Achieve the impossible: pass a law

The feds will be collecting millions of dollars from oil refiners this year because they failed to use the amount of cellulosic biofuel specified by Congress. Of course, no such biofuel exists, even though the Clean Air Act demands it. Congress doesn’t worry about such petty things. It wants the country to be energy independent of hostile countries and, having ruled out oil from Canada and ourselves, that leaves the imaginary as the alternative.  Hey, it works for them.

 

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Now we KNOW the world is doomed

 Twinkies going belly – up. I blame Bush.

UPDATE: Reader and fellow blogger Peg asks, “what’s going to happen to the Twinkie defense?” Law professors are probably drafting review articles right now on that very subject.

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Oh please, learn to write

Don't blame me, I don't do copy

From a realtor who seems to have confused the Donald with a card trick

23 Acres located at one of the most prestigious addresses in Greenwich & trumped by its location in exclusive Conyers Farm,

In any event, this place at 44 Upper Cross Road has the distinction of being the oldest listing in Greenwich, having been on and off the market since something like 1988. Down to $5 million plus now, which is interesting.

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Nice when you don’t have to sell in a down market

11 Winding Lane

I drove by 11 Winding Lane today on my way to an open house down the street (which dropped a million off its ridiculous price of $3.2 million but which still leaves me luke warm) and, once again, admired the land. The property includes a house that will probably be torn down which leaves the land itself, three acres in the two – acre zone. The seller tried $9.975 million in 2007 and has slowly, ever so slowly dropped her price to where it is now, $7.450. Oversized lots in this area are worth maybe $4 million, tops, so I’m not sure where the seller’s number comes from but, as noted, when you don’t have to sell, you don’t have to be reasonable.

I did see that 144 Zaccheus Mead Lane’s seller attempted at least a stab at reason today, lowering his price to $1.925 from its 2009 ask of $2.795. I think he should keep going.

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Have the felons of Round Hill cost the street its cachet?

47 Round Hill Road sold new for $8.175 million back in 2005. It came back up for sale last year asking $8.995 and today dropped to $7.995. No pool, what do you expect? But maybe no one wants to live next to Walt Noel, the Raj, Rick Bourke, Dom Devito, etc., etc.

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Back from open houses

Slim pickings out there – the spring market traditionally starts the week after MLK’s birthday, so maybe it will this year, too.

29 Pecksland

I did like 29 Pecksland Road, a 1730 (?) home beautifully restored and expanded. It’s a great house and its price tag of $4.650 million isn’t absolutely crazy but here’s the problem: it has an adjoining 2 acre lot and the owners are asking $7.3 million for the house and the lot. I don’t think 29 needs additional land to make it a desirable place to live – it sits on its own 2 acres, and how much work do you want your Mexicans to do?, but I don’t think the land next door is worth $2.675 and I know that most buyers don’t want a building lot next door.

If I were the seller, I’d keep the price of the existing house where it is and lop the heck out of the price of the second lot. A buyer might then see the package as an affordable deal with the separate lot serving as a long-term land bank, so to speak.

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Price reduction in Harbor Point

One Highgate Rd, in Riverside’s Harbor Point development, just dropped from $3.495 to $2.995 today. I never thought much of this house but Harbor Point’s one of the best neighborhoods in Riverside, to my taste, and the town assesses the place (70%) at $2.478 million. Owner paid $3.225 for it in 2005 and tried getting $3.895 last spring – that didn’t work out so well.

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Mead Point premium

Two Windrose has dropped its price to $8.995 million, a little bit below its previous price of $9.4 and even further from its starting price of $11.2. But is it enough? There aren’t many homes for sale in Mead Point and those who want to live there seem willing to pay extra to do so, but maybe not that much extra. I know what my own clients bid and it wasn’t this much. Public records suggest that this seller is living on borrowed time (and borrowed dimes) but I guess he feels no particular rush to resolve things. These days, who can blame him?

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Amazing but true: there’s a house for everyone

5 Hillside Drive (the Hillside in Rock Ridge) has sold for $2.950 million just a smidgen below its asking price of $3.2. It went to contract back in July, but just closed now. There was nothing wrong with this old (1901) house itself, though it was dated, but the location gave me pause because it’s bounded by the Lake Avenue rotary and Lake Avenue itself. Noisy and busy (but a short walk to the hospital).

Clearly someone out there didn’t care, and snapped it up. Curious.

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Hybrid autos running out of gas

Dead Prius

Sales down to just 2.2% of the market and falling fast. Of course hybrids were a stupid idea and anyone who doesn’t vacation in Cuba knows that, but it is precisely to avoid such stupidity that the govm’t should refrain from trying to determine winners and losers in the marketplace. Next up, I hope: the $7,000 gift to electric car buyers.

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That was quick

People’s Bank has withdrawn the listing for 30 Crescent Road in Riverside. Don’t know what that signifies.

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Now aren’t they sorry that Newt cancelled that $1 million charge account?

Who needs a blue box when I have a blue pill?

Tiffany sales down as Wall Street suffers. On the other hand, Rolls Royce broke all sales records last year - thanks to a boom in China and South America. Seems that the Turd World big shots have taken a lesson from us.

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On the other hand, Old Greenwich’s Lucas Point continues to sell handily

201 Shore Rd

I mentioned yesterday that 5 N. Crossway found a buyer after dropping its price from $3 million to $2. Today a sale of 201 Shore Road is reported. An 1894 shore colonial, or so the listing says – what do I know? – renovated over the years. Sold for $3.2 million in 2005, sold now after just 19 DOM for $3.8.

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Who ya gonna believe, me or your lying eyes?

8 Fletcher Avenue

There is some sentiment around town that property values continued their decline last year and that asking prices for unsold homes should be reduced, rather than increased. This is not a sentiment shared by the would-be seller of 8 Fletcher Avenue, a bungalow on 0.11 acre in that hotbed of real estate activity, the Greenwich/Port Chester border. The house, which sold for $645,000 in July, 2005, was listed for $565,000 last January, reduced to $465,000 last June but today, notwithstanding Greenwich’s tax assessor dropping its value 12% last October, has increased its price to $480,000. That should do it.

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Speaking of lobbyists, Congress is set to pass SOPA

The so-called “Stop On Line Piracy Act”, or “SOPA”, is a terrible idea opposed by civil libertarians, right wing bloggers and even those crazy lefties but the bill moves ever closer to passage because Hollywood, aided by our old friend Chris Dodd, wants it. The law is so over-reaching that it will criminalize almost any link to another site and enable anyone, anywhere, to shut down a website on a mere allegation of piracy. China loves the idea and so does Congress. Wonder why that is?

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Bad ideas never die when they’re funded by lobbyists

Red light cameras are back on Hartford’s legislative agenda again

Last year, the Hartford Courant placed names on the mysterious forces behind this bad law:

The progress up to now has convinced the bill’s backers. including two Arizona companies that deal in electronic traffic enforcement systems, that it is worth their while to spend tens of thousands of dollars on lobbyists to persuade lawmakers to push it through by the end of the legislative session June 8.
Lobbying reports filed with the Office of State Ethics reveal a lineup of lobbying talent that has grown since the bill gained preliminary approval March 18 from the legislature’s transportation committee. One of the most recent enlistees is lawyer-lobbyist and power broker Thomas Ritter, the former Democratic speaker of the state House of Representatives.
Ritter is only part of an experienced group of Capitol operatives whose political affiliations cover both sides of the aisle in the Democrat-controlled House and Senate. They include:
•P.J. Cimini, longtime Capitol lobbyist and lawyer from the Hartford government relations firm Capitol Strategies Group LLC. The firm, which also includes former Democratic West Hartford Councilman Patrick McCabe, was retained in January for $5,000 a month including sales tax, or an anticipated $60,000 in 2011, by American Traffic Solutions Inc. of Scottsdale, Ariz. The company describes itself as “a leading provider of technology and business solutions for road safety camera and electronic toll enforcement programs worldwide.”

And on and on. Business as usual.

 

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So, who fingered her?

Back off, Sonny!

Old(er) lady nabbed for shoplifting gloves from Greenwich Avenue Sachs.

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