I was off in my timing, but that’s because the seller has been so slow to come to earth

50 Indian Head Road

50 Indian Head Road

After seeing 50 Indian Head Road at its first broker open house in March, 2013, when it was priced at $4.1 million, I told the cop directing traffic that I’d see him again, a year and a million dollars later. Today, its price was reduced to $3.2 million.

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Bet they don’t get it

1 Elizabeth Lane

1 Elizabeth Lane

1 Elizabeth Lane, NoPo, is asking $8,000 per month.

322 Riverside Avenue (representative)

322 Riverside Avenue (representative)

If you’re going to spend that kind of money, may I suggest Pal Nancy’s house in the real Riverside, 322 Riverside Avenue/William Street, for $5,990?  Better deal,

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Price inflation

49 Hillside Drive

49 Hillside Drive

49 Hillside Drive (across from Greenwich Academy) has hit the market today at $5.495 million. It’s a nice house, 6,000 sq.ft. up, 3,000 below ground (est), on a little more than a half-acre. What I’ll be curious to see is how close it gets to its asking price. It sold new in 2009 for $4.2 million,when the market was nearing its lowest point.

What someone paid for a house is irrelevant to its current value, up or down, and my clients benefitted from that fact during what were, for sellers, the dark years, but has the market improved this much? It could have: this price does not strike me as obviously, totally crazy, but will buyer resistance at such a “windfall profit” drag down its price?

I’m betting it won’t – houses like this in this location are selling for a premium, but it will be fun to watch, and see.

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Psst! Any chance you’re on LSD?

1964 VW Bus for sale, $13,500.

5k in new parts w/ receipts. Minimal rust as it is from AZ.
Must Sell ASAP.

The accompanying photo must be of another vehicle.

Who ya gonna believe, me, or your own lying eyes?

Who ya gonna believe, me, or your own lying eyes?

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Maher Avenue sale

16 Maher Avenue

16 Maher Avenue

16 Maher Avenue, listed for $2.350, sold after just 24 days for $2.150. It sits on just 13,500 sq.ft. in the R-20 (20,000 sq.ft.), so don’t plan on adding an inch to its existing 3,000 sq.ft. The listing claims seven bedrooms, but that’s only if you’re planning on housing circus midgets. Still, a popular street, and a nice old (1900) house.

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Land listing, 35 Mooreland Road

35 Mooreland

35 Mooreland

Two four-acre lots, with 1960s house, $7.2 million. (Listing’s not up yet, but here’s Zillow, which just shows one of the lots).  A million an acre for the Back Country is about the going price, so $7.2’s not bad. You could certainly live in the existing house – the late owner did – but at this price range, whoever buys it probably won’t.

UPDATE: Brain lapse here – land in the R-4 should sell for about $500,000 per acre, not $1 million. Giving a premium to this land because it’s so nice, maybe – maybe – $2.5 per lot. They’ve assigned value to the existing house, apparently, but I’m not so sure someone will pay extra for it.

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Park Avenue (Greenwich) deal

108 Park Avenue

108 Park Avenue

108 Park Avenue, $4.195, reports a pending deal. This same house tried for $5.395 million in 2008 before finally selling two years later for $3.2 million. The listing now says it was renovated in 2012, so I’m uncertain how much of the increase in value is attributable to those improvements and how much to a price recovery in this area of Greenwich but either way, nice house, great street.

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