Price war in the backcountry and … the waiting game

 

98 Lower Cross Rd

98 Lower Cross Rd

98 Lower Cross Road asked $1.950 in June and got into a bidding war that month. Sold today for $2.050. This was my brother Gideon’s listing back in 2009, when it sold for $1.850 million. Despite its ridiculously non-conforming size; 0.5 acre in the R-4 zone, it’s a very nice house inside and backs up to the Babcock Property, so you won’t run out of recreational space. It’s a reach to town but obviously there are people out there willing to deal with that. I know I would.

2 Sheldrake

2 Sheldrake

And behind the hospital, 2 Sheldrake, what the new listing broker describes as an “interesting” split-level is back at $1.296 million after expiring unsold this past April at $1.155. The owners have been trying to sell this since at least 2010, when they priced it at $1.290, so they clearly are in no rush to move it. The recovering market will probably enable them to get their price, eventually.

6 Comments

Filed under Back Country, Buying/Selling Greenwich Real Estate, Downtown Greenwich

6 responses to “Price war in the backcountry and … the waiting game

  1. Anonymous

    I’d be wary of any listing agent advertising FAR expansion capabilities.

    Would love to say, “Sure, I’ll buy it, but we’ll escrow your commission until the city approves it.”

  2. Cos Cobber

    I couldnt live on a street called Sheldrake, Jofran, Kenmondo or any other such spawn legency creations.

  3. anonymous

    Lower Cross house is beautiful. Obviously very well loved and cared for by current owners. I wouldn’t touch a thing.

  4. infoDiva

    How does a house get renovated in 2012 and not have an increase in tax assessment? Doesn’t anyone bother to pull permits for kitchens and baths any more?