19 Dingletown
I haven’t seen this listing that just came on today but it’s on an acre of land, has a slate roof and looks pretty nice. It’s priced at $2.495 million and was purchased 10 years ago for $1.6 million. That seems like a reasonable rate of appreciation – I hope I’m right. In any event, I congratulate the seller and the listing broker (Round Hill Partners) for acknowledging that this is not the market to shoot the moon.

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  1. Anonymous

    Just looked at the pics of the interior on the Round Hill Partners website.

    It’s being sold vacant, the interior is dated, and it’s only 3500 sq ft.

  2. Chris Fountain

    Well that won’t help.

  3. Anonymous

    I like your most recent posts – Chris – please continue listing homes under 3m which you feel are priced to sell.

    I can not help but wonder – what a home-owner may think about their asking price – is – ‘shooting-for-the-moon’- I can understand the ‘High Rollars’ 5M and above – may-be ‘shooting-for-the-moon’ – however – I would think those home-owners under 2m would think that their price is fair – however – like you said – it is hard to define a ‘Fair Price’ in todays market. There are certainly a-lot of homes listed in the Real Estate Section in today’s Greenwich Time – Please continue to post ‘Postive comments’ we all can learn a-lot from your posts! Thank You Chris!
    You Can Do It!

  4. Anonymous

    Oh, and it’s white brick.

    Yuck.

  5. Anonymous

    I just looked too. Wow, that kitchen is at least 20+ years old, and yes – outside is white brick. NOT white-painted, but white brick. I’m thinking just under $2 mil, for 1 acre and a lot of reno.

  6. Anonymous

    You’ve missed a bigger problem with the listing — it is at one of the lowest points along Dingletown, significantly lower than North Street so it is basically in a watershed area. It probably floods during heavy rains.

    As for the interior, the kitchen needs a redo, I just ownder if that means the bathrooms need a redo as well (probably).

  7. Chris Fountain

    Maybe – I like white painted brick, not sure what to think about non-painted white – haven’t seen such a thing, I don’t believe but I guess that will be remedied next week. Under $2 million for an acre lot on Dingletown seems cheap, even in this market but again, I haven’t seen the lot. More on all this next week. In the meantime, if you’re interested, it might be worth calling the listing agent (Rene Gallagher, I think) and seeing for yourself. Pictures don’t tell the whole story.

  8. Chris Fountain

    Long ago I figured out that, if a realtor had anything nice to say about a house she’d mention it. New granite counters? They’re in the ad. Same for new bathrooms, etc. Silence, then, indicates that ain’t nothin’ been done to anything. In my defense of my enthusiasm for this listing, I saw a house yesterday that had had absolutely nothing done to it in at least 50 years – not a tear-down, but a complete gut job, on a good street but priced over $3 million. That was so over-priced that this one at $500K less seemed reasonable. But again, I’m not the market – the proper price will surface.

  9. Anonymous

    Chris –
    Don’t you work for WilliamRaveis? What is up with their website recently? I am an active user of the advanced search feature – and usually add a screen for prices reduced in the last week…and ,separately, new to market in the last week. Lately these features don’t appear to be working – the Dingletown listing for instance never appeared in the search.

    Any insights?

    BTW – If I am wrong and you work for another organization – my appppologies.

  10. Chris Fountain

    I do work for Raveis and their website was a large reason I went with them, so I’m sorry that you’re having difficulties. They just “upgraded” to include lots of new features and obviously there are bugs. I’ve forwarded your comment to headquarters and I’d hope that it’s fixed by next week.