Daily Archives: January 28, 2013

Somebody set us up the bomb

What you say?

What you say?

Malaysia’s High Yield Real Yields Mean Flows Top Peers

Whatever.

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“Million Mom March on Washington” doesn’t add up

1,000 angry mothers descend on Washington to demand gun ban.

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A last bit of market activity to report

Three accepted offers, one (genuinely)  new listing in Old Greenwich.

1 Driftway, Byram Shore, $1.195. Seems about right for Byram.

11 Broad Rd

11 Broad Rd

11 Broad Road, custom house, I think, in Belle Haven, priced at $5.299 million and with just 140 days on the market – that’s quick, for this price range, it was obviously priced right.

89 Summit Road, Riverside, $2.199 asked. Owners paid $2.275 in 2007 so if they’re getting close to their asking price, that’s just about back to 2007 levels. Not many other areas in town are there yet.

187 Shore Rd

187 Shore Rd

The new listing is 187 Shore Road, $3.495 million. Tidal waterfront, walk to the beach, could be very nice. Its open house is this Thursday and I’ll report on it then. Looks good in its pictures.

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We’ll pry them from their cold, stiff fingers

You vont be needing these no more

You vont be needing dese no more

Police Chief promises that all citizen’s guns “will be gone by the next generation”.

San Diego Police Chief, William Lansdowne said in an interview that the implementation of new gun laws will take guns off the streets of America within a generation.

According to San Diego 6, Lansdowne said that it may take a generation but guns will eventually be taken off the streets through new laws like Senator Dianne Feinstein’s proposed assault weapons ban:

“Chief Lansdowne, who plays an active role in the western region of the International Association of Chiefs of Police (IACP) association, said it may take a generation but guns will eventually be taken off the streets through new laws like Senator Diane Feinstein’s proposed assault weapons ban legislation. Some of the items his organization is addressing include; a ban on assault weapons, restricting high-capacity magazines, closing loopholes that allow firearm sales between private owners without background checks, and implementing much stricter background checks by using a comprehensive database.”

Lansdowne believes that the shooting in Newtown, Connecticut weakened the gun lobby’s power and has opened the door for new gun control legislation.

“We broke the NRA,” Lansdowne said off-camera.

Lansdowne’s position on gun control appears to be in the minority among sheriffs across the nation, however.

As CNSNews.com previously reported, sheriffs from Florida to California have stated publicly that they will not comply with any new gun control measures proposed by the federal government.

This police chief, the NRA and Feinstein all understand what’s going on here: a national registry of all guns means the government knows where they are and Feinstein’s mandatory confiscation upon the death of a gun owner will indeed, as chief Landsdowne promises, result in the disarming of the public. You may think that’s a good idea – some of us don’t, but regardless, please stop calling the NRA and gun owners paranoid for seeing what the government is up to.

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What if they held a gun buy back day and a gun bazaar broke out?

They offer just $200? I will pay $400, and my sister AND a camel!

They offer just $200? I will pay $400, and my sister and a mule!

That’s what happened in Seattle.

Police officers in Seattle, Washington held their first gun buyback program in 20 years this weekend, underneath interstate 5,  and soon found that private gun collectors were working the large crowd as little makeshift gun shows began dotting the parking lot and sidewalks. Some even had “cash for guns” signs prominently displayed.

Police stood in awe as gun enthusiasts and collectors waved wads of cash for the guns being held by those standing in line for the buyback program.

People that had arrived to trade in their weapons for $100 or $200 BuyBack gift cards ($100 for handguns, shotguns and rifles, and $200 for assault weapons) soon realized that gun collectors were there and paying top dollar for collectible firearms. So, as the line for the chump cards got longer and longer people began to jump ship and head over to the dealers.

People were reportedly, at one point, jumping out of vehicles  whilst sitting in traffic – making on the spot deals with the gun buyers.

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Recyling day

A price cut and four “new” listings, all of which we’ve seen before.

Does Tyvek really last 11 years, uncovered?

Does Tyvek really last 11 years, uncovered?

28 Brynwood is the price cut, and now asks $3.750 million, a whopping $100,000 less than it asked for yesterday. This is just silly – the builder who so foolishly started this project is long gone, the idiots at Ulster Bank who loaned $3 million and an additional $1. 6 on the property back in 2002 are probably down in Washington working for the government – their bank has long since folded – and the house has sat half finished and open to the weather for over a decade. You want a frame and a slate roof on two bad acres of land that are literally on top of the Merritt Parkway, be my guest. I say $1.1 million, tops. Since the folks who paid two cents on the dollar to buy this loan’s paper are out nothing, they’d be fools to reject an offer in that range, but they already have. Even the dullest work-out drone at one of these firms has heard of Greenwich and “knows” that 2 acres of Greenwich land off Round Hill Road must be worth millions. This is not that land, but that’s why the guy making the decisions is stuck at the pay scale he’s in.

46 Orchard Place, Cos cob Greenwich [ my mistake] started at $1.895 million in 2004 and in the 9 years since has been on and off the market. It’s back today, at $1.575. The owner has written (see comments below) detailing all of the improvements made since 2005, so you should probably take a look, if this house and neighborhood are in your search parameters.

31 Bush Ave

31 Bush Ave

31 Bush Avenue, Belle Haven, is also back for another go, having failed to sell for $8.850 million in ’07 and subsequent years. Today its owners will settle for just $6.950.

286 Round Hill Road was priced at $5.375 in 2009 and now, with a new broker, new price, and 787 days on the market under its belt, it’s at $3.550. Meh.

And not included in the link above but who cares? It’s been around forever, spec builder General Tsoi’s house at 36 Montgomery Lane is listed as new for $3.295. Tsoi couldn’t sell it at $5.4 million, Patriot Bank didn’t even try, the group that bought the loan from Patriot failed at $3.495, and now this. It’s not a bad house, if you understand that you’ll want to rip out all the marble and bathroom fixtures that Tsoi bought by the midnight truckload from Chinatown and festooned all his projects with, and you and your mountain goat can deal with the driveway. Decent yard, decent quality construction, it seems, minus the choice in finish materials. And if you like taupe, you’ll find 6,000 square feet of it here to admire. The paint was probably on that same truck, priced right.

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Price cuts

Three this morning.

61 Sumner Road, $3.2 million cut to $3.1. Not a crazy price but a contemporary this far north, with a master bedroom on one floor and the rest upstairs (with one in the basement) rules out families with young children and the lack of a pool makes for a dull weekend adult retreat, so what’s the market? We’ll find out eventually.

55 Birch Rd

55 Birch Lane

55 Birch Lane, $5.295 to $4.795 million. That’s a substantial cut but it’s still a 70s style house, albeit renovated, and at least from what I’ve seen of current listings in this price range, there are other houses to consider.

75 Clapboard Ridge Road, $13.950 (2007), now asking $10.350 million. My inclination is to refer the reader to the post immediately below this one, but that would be cruel.

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