Tag Archives: real estate market conditions
More on the great disconnect
As of this writing, we have 724 single family homes offered for sale in Greenwich. This compares to 542 in 2007 when, as you may recall, houses were actually selling. The 2007 market easily absorbed 724 houses in the year, … Continue reading
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There’s money in town
I hear tell that there’s an accepted offer on 253 Round Hill Road, that Billy Gardiner spec house asking $23 million. I’m not surprised, because I’ve had some very wealthy clients interested in the place myself. None were willing to even … Continue reading
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Then and now
Sold, 2007: $2.3 million, 75 days Ask, 2009: $1.9 million (1 year at $2.295)
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How about a bailout for Greenwich home owners?
This spec house started life as an Ogilvy listing a year ago priced at $9.750 million. Buyers didn’t like its long driveway to a back lot, I guess, or perhaps its lack of a back yard (but a killer view … Continue reading
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A spec house moves out of inventory
This was a well constructed house that came up for sale in September for $3.195 million, which in this market was probably too aggressive for Palmer Hill. No takers, so yesterday it was rented for $9,500 per month. I can’t … Continue reading
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Low Bids
During the past 15 months I’ve presented some very low offers on behalf of my clients to sellers’ agents and they were all rejected. I’m not uncomfortable with presenting any offer – that’s my job – but it’s been an … Continue reading
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Cheery News on Home prices
Prediction: Price fall to continue through 2010 Jan. 14 (Bloomberg) — U.S. home prices, already down 23 percent from their July 2006 peak, will continue to fall until the third quarter of next year, PMI Mortgage Insurance Co. said in a report. … Continue reading
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Former NAR Economist says, “they made me to do it!”
And boy is he sorry now. Freed from the inhumane pressure of accepting a huge salary and First Class trips around the country provided by his employer, NAR economist David Lereah now admits that he was just a paid flunky who … Continue reading
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What’s a builder to do?
Go belly up, I think, or at least, many of them will. Of the 549 single family houses currently listed for sale in Greenwich, 113 of them were built in 2005 or later (104 of those were built after 2005). … Continue reading
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Will tell the truth for cash
National Association of Realtors fesses up: the market sucks, we want money. Damn! This is a first for the NAR – until now, the market was always “stabilizing”, “growing”, and one hell of an investment. As a small government … Continue reading
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