Monthly Archives: January 2013

Is there any facet of life too small for governmental interference?

She wants to mind your business

She wants to mind your business

Of course not, but here’s the “Fairness Act” that creates a federal right for an employee to discuss her salary with another employee. I thought that’s what water coolers were for.

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Attention builders – head for mid country!

This has been discussed before but I just went to do a very preliminary search for a client looking in about the $3-$4 range, with a preference for “newer” construction, more than an acre and in the North Street-to Round Hill – to Merritt Parkway zone. There.Is. Nothing.

Really – three houses built 2001 or later, none of which I’m wild about, and all away from the so-called golden triangle area.  And that’s it – even eliminating the built-by parameter there isn’t much but everything built in the past ten years has sold and, presumably because the crash cut off their credit, little has been built.

Builders have been rushing into Riverside to build $3.4 million homes but I’ve said before and I’ll say it again now, you guys are chasing yesterday’s news. You want to get ahead of the curve go buy some one and two acre lots and start building  $3.5 homes in the mid-country. Your competitors in Riverside will be sitting on unsold inventory while you’re signing contracts with buyers.

Which is bound to be an improvement over 2010.

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Depends how you see things

Half full or half empty, depending on what that clear liquid is

Half full or half empty, depending on what that clear liquid is

The Mickster, always a cheerful chap, writes that January has seen $300 million in “sales and accepted offers” and says that’s evidence that the market’s booming. Whatever

There were 80 single family homes that reported accepted offers this month, and their asking prices, and inventory left, breaks down as follows:

<$1 million: 20/44 (20 sold, 44 still to go)

$1-$1.5:  14/42

$1.5-$2: 13/55

$2-$3: 15/68

$3-$4: 5/58

$4-$5: 4/31

$5-$6: 2/28

$6-$7: 3/21

$7-$8: 3/12

$8-$9: 1/11

$9+ : 0/49

Make of that you will. Also note (a) asking isn’t getting, and (b) some of these sales reflect some serious markdowns. Mohawk Lane, for instance, reported as having an accepted offer, last listing price $5.450 million, sold new in 2008 for $7.5 million and has been up for sale since 2009, when it started at $7.850.

And finally, our inventory of 451 homes is a typically low January supply – the next three months or so usually sees another 150 new competitors. The good news for sellers with stale listings is that almost all these new listings will be way overpriced by agents eager to get the business and clueless owners, so yours won’t look quite so bad.

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Jon Corzine was busy in Washington and couldn’t be reached for comment

 

Yes we can and yes we did!

Yes we can and yes we did!

Russell Wasendorf, 65, sentenced to 50 year years for $216 million financial fraud that brought down the house of Peregrine.  Democrat and Obama fund bundler Corzine, who was responsible for the collapse of MF Global and the loss of $1.6 billion, continues on, untouched. Mr. Wasendorf obviously made a poor choice of friends.

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Okay, banning handguns didn’t work, what’s next? Ski masks worn by bandits!

It's lucky for you you're standing in a robbery-free zone, my friend. Otherwise ...

It’s lucky for you you’re standing in a robbery-free zone, my friend.

D.C., land of the strictest gun laws in the nation yet somehow  swamped with gangs of armed bandits (paging Fox Butterworth), moves to make wearing ski masks illegal.  Well sure, I get it – just about anyone will violate laws on owning guns or using one to commit robbery and mayhem, but would a criminal dare don a ski mask if it were forbidden by law? Not hardly, especially if the city also establishes “ski mask free” zones near schools and liquor stores. And banks, and homes and ….

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Off to open houses

Still not much – I’m growing increasingly convinced that people can’t afford to move.

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Somehow I don’t think she’ll grow up to be a Greenwich Magazine subscriber

girl-shooting-a-machine-gun-634x423

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January 31, 2013 · 9:11 am