Old Greenwich isn’t necessarily bomb-proof

 

36 Forest Ave

36 Forest Ave

36 Forest Avenue, one of the single family homes that are part of the Collins development on that street, has sold for $1.470 million. Seller paid $1.640 for it in 2007. Which is not bad, given what happened to prices in other parts of town during the past five years, but this house, at least, is not back to 2007 levels. Some other locations are.

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5 responses to “Old Greenwich isn’t necessarily bomb-proof

  1. Anonymous

    Didn’t this house report an accepted offer more than once and then come back on? Was something wrong with it?

    • Not at all – lots of accepted offers don’t culminate in a sale, usually because of things happening on the buyer’s end – financing falls through, for instance, or even just because they change their mind. If you see an older house that runs through a series of accepted offers then you might guess that there’s a problem with the house itself – otherwise, I wouldn’t read anything into it.

  2. Polly Pavel

    I really liked the house, but thought the asking price of 1.795 was too high, I would have put an offer if I new the sellers would have considered the price it went for!

    • Which is why I urge my clients to put in offers on houses they like. Costs nothing and you never know. What’s an insultingly low offer one month may be the best one out there later. Can’t judge when a homeowner is ready to face reality.

  3. Anonymous

    many aren’t ready to face reality, and it ain’t getting easier for ‘em. wait till rates creep up a point or more. there goes $200k+ of purchasing power assuming typical leverage on a typical $1.5-2MM house. dunno ’bout most of the readers here, but it’s a little hard to come up with an extra two hundred grand net on a whim.

    unless you’re al gore.