Accepted offers

19 Pintail

19 Pintail Lane, asking $1.199 (down from $1.399) has a buyer. Very decent house, I thought. There are things I’d want to do with it, including blowing out the kitchen and, probably, pushing the master bedroom out ten feet or so, but lots of good working material here and of course, livable exactly as is – after all, it’s occupied now – buyers sometimes overlook that fact.

35 Bramble Lane

35 Bramble Lane, still under construction and asking $3.4 million, is gone. Since it hasn’t been completed I offer no opinion on its merits but $3.4 is the right range for this street. My personal preference would have been the 2007-built house across the street at 26 Bramble. Built to exceptional standards, great layout and had its own gate opening to Eastern Middle School’s playing fields and tennis courts, so you had something like a fifteen-acre park as your back yard. But that one went very quickly just two weeks ago – I wouldn’t be surprised if the buyer for 35 was a disappointed bidder or worse,  looker, on 26.

12 Mary Lane

And after reporting an accepted offer on October 23rd, 12 Mary Lane, $795,000 is back on the market, that first deal having apparently fallen though for unspecified reasons. Incidences like this are common, which explains the reluctance of brokers to report accepted offers, rather than executed contracts (all contingencies having been met); no one wants to look at a house that already has a pending deal, so the house is basically off the market for weeks, which hurts all the more when that deal falls apart. The GAR requires that accepted offers be reported immediately, one of the only instances I can think of where the board favors transparency and dissemination of information and, ironically, the one instance where I think an exception to a general policy of releasing all relevant information as quickly as possible should be made – this new rule hurts homeowners. Before this rule was enacted, listing agents would tell another agent interested in showing a house if there was an accepted offer pending and leave it to her and her clients whether they still wanted to see it. Disclosing that status to the entire marketplace, however, kills all interest from the inception, with no real benefit in exchange. Or that’s my opinion, anyway.

14 Comments

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14 responses to “Accepted offers

  1. Anon

    Any news on 125 cat rock?

    • Still under contract and awaiting closing, so no final sales price reported, yet. It sold in about 60 days, which is darn good, so I’m guessing it’ll go for close to its asking price. Not $4.125, I shouldn’t think, but somewhere in the $3.9′s? $3.875? That’s what I’m guessing but I really have no clue – will report when we learn, however.

  2. GreenITCH

    What ever happened to the two houses from the NC builder on Marks Rd ? I know they were reduced 2x but have they sold , been reduced again ?

    • Never sold. Started way too high originally and now that dread stigma has attached wherein buyers say, “if it were any good, someone would have bought it by now”. Not necessarily so – these are okay houses, although the yards are skimpy,and and their price is now at a level that would have attracted offers, way back when.

  3. GreenITCH

    Actually while on that I see 20 Marks RdRiverside, CT 06878
    Sold for $1,300,000 on Oct 12, 2012 ? I dont ever even recall seeing that listed as for sale ? do you have any insight on that one as well ?

  4. GreenITCH

    thks cf

  5. South of Village

    Chris – you may know this but 26 Bramble is made of ICF (steel reinforced concrete) construction. No light wood frame to speak of. Hurricane proof and extremely energy efficient. I believe after Sandy, more homes will be built like this, and many question why America is one of the few countries where we built with light wood framing as opposed to masonry. Do you happen to know the builder or architect here for 26 Bramble? If so pls let me know, b/c I am considering building an ICF home.

    • I do know that, South, and write about it both when it was built in 2007 and again when it came back up for sale- great stuff, as I told my own clients when showing the house.
      I believe its builder returned to Wall Street after this foray into home building. I’m in the road today but next week I’ll see if I can’t located him.
      I read up in this process in 2007 and was very impressed. I think you’d do well to at least consider using it when constructing your home- I know I would.

  6. South of Village

    thank you in advance

  7. jelarv

    Rob Wahl of Wahl Home Builders, LLC built 26 Bramble. He had plans to build similar quality homes (including the unique concrete and steel framing), with 26 Bramble as his showcase home (which is why he poured so much into the house). But after devoting a year of his life (like 14 hour days) he realized it would be tough to scale the business. His conclusion: if you can find a dependable foreman to manage the site, he’ll want to go off and build his own homes not too far in the future, which puts you back to working on the site yourself. My understanding is that Rob is back at an institutional money management firm.

    FWIW, 26 Bramble went to a sealed bid process because 4 offers came in at the same time.

  8. Joe D.

    19 Pintail is heading for the wrecking ball. The elderly owner, her agent and her attorney were not ethical with one or more buyers that had accepted offers and contracts out, all who would have all saved the home. Hope she does not mind seeing her home of 50 years bulldozed before her eyes for a few extra grand.