Will it or won’t it?

45 Riverside Lane (NoPo) is listed for sale today at $1.775 million. It sold new in February, 2007 for $1.665 and apparently the seller thinks the market’s gone up a bit since then. We’ll find out, I suppose. This is a perfectly decent house and Riverside Lane has commanded this level of pricing in the past, somewhat to my surprise since it’s a pretty busy thoroughfare. I’m curious to see whether it still does.

10 Comments

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10 responses to “Will it or won’t it?

  1. Anonymous

    Is it really true that all the $1 transactions from Zillow are REO / bank owned / foreclosed properties?

    • Usually, although quit claims from husband to wife or to a trust or whatever are often reported that way. If you see a bank’s name on either side of a transaction, however, you’re safe in assuming it’s a foreclosure.

  2. Anonymous

    All depends on its school district.
    If its cos cob’s, and the buyers know it…will sell for a loss
    If its north mianus, they might have a pretty good chance,
    Then again, it ain’t riverside school or og
    That house over there would fetch 600-700/sq/ft

  3. Anonymous

    I’d say 550/ft max
    Puts it around 1.5mil

  4. Cos Cobber

    Chris, you cannot assume the $1 pricing is a foreclosure. There are far too many $1 transactions in zillow for homes where the owners have simply remained in place. You have to assume many are quit claim for extraordinary circumstances. Because zillow is picking up all this quit claim noise, its somewhat worthless for foreclosure info.

    • Well I think that’s what I said, CC, but when you see “Peter Tesei to Deutsche Bank, $1″ (just to use a pretend name), it’s a dead-pipe cinch that the seller was foreclosed upon.

  5. Cos Cobber

    Yes, of course, but last I knew Zillow didnt disclose such details on the $1 transactions… and hence, its better to assume it is some other circumstance other than a foreclosure when perusing their website. Particularly in Greenwich, I see too many family transfer quit claims popping up in as $1 sales. I know idea the percentage, but it is rather high and so the $1 transfers are totally misleading.

    And you need to get over Peter T.

  6. Anonymous

    Where do you get quit claim transaction detail on the web?