Hope and change?

10 Blanchard

10 Blanchard

I see that 10 Blanchard Road, part of the Bailiwick development off Riversville Road, is back on the open house tour tomorrow, priced now at $2.995 million. In 2010 this house couldn’t find a buyer at $2.795. The listing expired at the end of 2010 and the house was off the market for six months until June, 2011, when it returned at $2.895. That didn’t work either, so the sellers have goosed it another $100,000, perhaps to convey the threat that if you don’t buy now, the price will only go higher later.

That strategy might have worked back when Greenwich real estate prices really did rise each year, but it seems a dubious plan for this market. But perhaps the sellers are right and we’ve witnessed a resurgence in western Greenwich values. I hadn’t noticed that phenomenon, but that doesn’t mean it hasn’t occurred. I’ve never sighted Elvis, either.

4 Comments

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4 responses to “Hope and change?

  1. anon

    Yeah, but thanks to the Taxpayer Relief Act, buyers should have more money to spend in 2013.

  2. Anonymous

    You’re right – I’d say it was closer to $2.4 and they’d get more interest. It is a nice house.

  3. anonymous

    Baliwick was owned and developed by the architect Perry Duncan. Blanchard drive was named for his daughter Ellen and son in law Kim Blanchard, whose spawn Perry you knew. Kim’s brother Harry Blanchard was Malcom Pray’s partner in Blanchard Pray Motors.

    http://www.legacy.com/obituaries/burlingtonfreepress/obituary.aspx?n=ellen-duncan-blanchard&pid=136953051#fbLoggedOut

  4. This strategy should work as well as the new tax deal. A plate of retard sandwiches with all the fixings. It is not sustainable and will most likely lead to many small and deferred decreases and possibly a few broker changes.