Ridiculous price cut but then again …

70 Bedford Rd

70 Bedford Rd

After 272 days of trying to get an offer at $1.7 million, 70 Bedford Road cut its price today a full $5,000 and can now be yours for just $1,695,000 (we do the math for you here at FWIW, the full service blog). I was going to write a post on how stupid this was but when I pulled the listing I saw that this is on four acres of nice-looking land, has a pool, and a $1.920 million mortgage, so bank concessions might be available. All of that’s enticing and perhaps that’s exactly the point in recording a token price change – it brings the property back to the attention of brokers. Check it out – if you can live with being on the western edge of town, close to Rt. 684 and under the flight path, this appears to be a lot of house for what passes in Greenwich as not a lot of money.

Not everyone wants to live in Riverside, thank God.

8 Comments

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8 responses to “Ridiculous price cut but then again …

  1. Cobra

    “Living room” interior shots look like two different homes.

  2. Anonymous

    I always feel sorry for sellers like this where a Happy Family has lived the lifestyle they enjoyed, the decor they fashioned right for them, the location they preferred, only to find when they go to sell, no one else chooses it. It’s got to hurt. I was surprised to see it was built in 1982. I would have guessed in the 1970s. The TV in one of the bedrooms is easily that vintage.

  3. Anonymous

    that price cut sounds very much like the counteroffer we received last year on a property we were interested in. it was something like a few thousand less than asking price (our offer was about a 10% discount to the ask). that few thousand counter was a polite f.u. by seller, basically.

    and, you can guess where this is going. house still on market, price recently dropped by mid 5 figures.

    i’d very much like to send the selling agent a polite email and ask how things are going, maybe throw an insult or two in there at their prior hubris, but no, i’m classy.

    • The number of houses whose owners rudely rejected an offer one year only to sit, price dropping ever-lower, for months, even years, is so great that you’d think the lesson would have been learned long ago, but no – it still happens. A polite “no” at least leaves the door open for a buyer to return later – this “FU” response is just deadly.

      • Any offer is a good offer

        I agree with the ‘no thanks’ reply instead of a minute discount.
        Especially if you want to sell.
        But I am all for the initial low-ball offer.
        That opens the door and gets the seller thinking.

  4. Anonymous

    i had to explain to a selling agent the other day on a property (commercial) the idea of cap rate driving the realistic asking price down. he countered “but this place has great upside potential, it’s reflected in the price.”
    i gave up. literally. to even utter such a phrase gives me hope that yes, even idiots can earn a living in the u.s. to help keep the economy moving along…

  5. The house is also next to Tamarack Country Club, and close to Brunswick.
    I know there is plenty of hate for this part of town and its proximity to Armonk, but do you think the recent, massive town square development project there will affect NW backcountry real estate interest?

  6. Bedford Road, in my opinion, becomes much more scenic after its intersection with John Street, as it wends its way toward Armonk. However, there are some not too bad looking newer constructions along the part of Bedford that this house is located on, and it is very close to both Brunswick and Sacred Heart, not too far from Parkway School, as well as to shopping in Armonk, which has a charming small downtown. Airport noise on Bedford Road on the other side of John Street is virtually nonexistent, but I don’t know if that holds true for this home’s location. I do know that there are many streets much farther away from the airport than Bedford Road is, that are directly on the flight paths and experience far more noise than Bedford Road experiences. The newer jets are becoming quieter all the time, and convenience to the airport can be awfully nice. The northwest backcountry is a hike to downtown Greenwich, but it is also convenient to commuters using Route 684 to NYC. I rather like it up there.