Daily Archives: December 21, 2012

No wonder the Postal Service is broke

Here’s the route taken by a small tin of leather dressing from Cherry Hill NJ to Greenwich*

*UPDATE, Saturday, December 22: In fact, it has yet to arrive.

Screen Shot 2012-12-21 at 9.10.26 PM

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Finally, justice for men

Party hearty, boys

Party hearty, lads

New EU regulations barring gender discrimination in insurance policies means women will now pay for men’s mistakes. About time, too.

The effect of this ruling is that private insurance products which differentiate by gender on price or benefits will be banned.

Young female drivers will be the worst affected by the new rules, with premiums rising by 24pc on average across the eight insurers reviewed by AA Insurnace.

Premiums for women aged 30 will rise by an average of 9pc, compared to average increases of 2pc for women aged 70.

Broker Chill.ie said there would be increases in premiums for female teenage drivers of up to €300.

But there will be savings in the region of €2,500 on motor insurance for teenage male drivers.

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Last activity before Christmas

101 BrooksideI think the MLS has shut down until next Wednesday or will close early Monday, but here’s one more accepted offer that came in at the closing bell, 101 Brookside Drive, $4.995. Great old (1903) house on 2 acres close to town, it sold for $5.995 million in 2008.

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And still more

Two sales.

Christmas party at Dwight's

Christmas party at Dwight’s

14 Dwight Lane, $2.9 million, asked $4.3 originally. Good house, but Dwight’s way north.

505 Indian Field Road, 3.7 acres, waterfront in Mead Point sold direct for $7.250 million. “Sold direct” usually means that the seller – in this case, the estate of the late owner – has an offer in hand before even listing it but tries a higher price on the MLS for a period of time (30 days, here) to see if they can do better. So this was priced at $8.750 million and after no offer came in that would justify paying a commission, the house goes to the first offer. Listing brokers hate that sort of arrangement, not surprisingly, because they go to the expense and the labor of marketing a property, only to watch their efforts go unrewarded. But sometimes that’s the risk you have to take to gain a listing. No one said real estate was (always) easy.

This is beautiful land, by the way, but it was also the scene of a brutal home invasion in the 80s. The armed thieves came in by water, thereby evading the 24-hour security guards and broke into the house, forced the owners into a closet and ransacked the place. An ugly business.

Two accepted offers have been reported, 610 Lake Avenue, swampland asking $975,000, and 5 Dawn Harbor, Riverside, whose last listing price was $2.7 million. Its last price is better than where it started 643 days ago: $3.195, but I’ve never been wild about this house. Still, it’s in a good section of Riverside and not particularly out of line with the prices of comparable houses in the Indian Head neighborhood, so I get it.

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End of year, sales are happening

Here are five more

3 Loughlin Avenue, Cos Cob, $450,000. Listing says “engineer’s report available” and cautions that the sale is “as is”, so you know what that means. But Loughlin’s a decent street with the park, a Starbucks and your choice of 15 banks nearby to stash the money you saved by buying here.

67 Nearwater sold for $950,000 and I think that’s a very decent price for both parties. There’s a community beach in this association providing access to the Mianus and this house in particular is in great shape. A couple of odd decisions in bathroom layout and design, perhaps, but as long as the plumbing is where you want it and you don’t have to relocate it, redoing bathrooms doesn’t have to be a crushingly expensive job.

14 Buckingham, the short sale discussed here last week, closed at $1.196 million. Seems like a good house for this price, this location.

Conyers FarmThe gate house (on ten acres) up at 2 Conyers Farm has sold for $5.350 after originally asking $7.995 in 2009.

And bringing up the rear, 651 Steamboat Road has sold for $3.3 million. Its owners have had this on the market for a grand total of 1,516 days, having originally priced it at $6.4 million in 2008. I have no idea what possessed these folks to cause them to overestimate the value of their home so grossly, but there it is: a house is worth what someone’s willing to pay for it, not what you what want. If you must dream, at least do so in black and white, not glorious Technicolor.

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Three more sales today and mine was the lowest priced, but I can live with that

 

 

Nanny's quarters, 47 Doubling Rd (caption courtesy of Gideon Fountain)

Nanny’s quarters, 47 Doubling Rd (caption courtesy of Gideon Fountain)

Three pretty big price tags. Two, 15 Khakum Wood, $7.525, and 34 Meeting House Road, $4.975, weren’t active listings but their sales were recorded today “for reporting purposes only”. The money spends the same either way.

The third, 47 Doubling Road, was discussed here when contracts were signed recently but it closed today at $2.875 million. Doubling was custom built for the sellers in 1994 and was very well maintained since then so while there are some changes that could be made – I’d redo the master bathroom, perhaps, it’s ready as is. 7,823 sq. ft., one acre, close to town. I’m Riverside born and bred, but this is a lot more house than you’ll find for anything close to its price in Riverside. That’s not like saying, “you could get this for less than half in Minnesota” (sorry, Peg) because Doubling is Greenwich, and one of the nicest areas of Greenwich, too.

In any event, my clients are happy, I’m pleased, and everything’s done in time for Christmas. There is a Santa Claus.

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Old Greenwich sale

 

19 Benjamin Street

19 Benjamin Street

19 Benjamin Street, a 1964 split level last updated in 1980 but on a half-acre, $1.830 million. And it sold quickly: 58 days. I’m beyond being surprised by OG and Riverside prices.

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