Here’s a conundrum

8 Bailiwick Road, on the western side of town, sold for $2.075 back in July 2007, and I thought the seller got a lucky break. The new owners rehabbed it and put it back on the market eight months later for $3.250 million. Bailiwick is always a tough sell, notwithstanding its nice community pool and rec center, and this house didn’t sell. Now the contractor has reduced it 23% to $2.495 million and I truly have no idea: did he really put a million bucks into this house to justify his first price, in which case he’s about to take a very serious bath, or is the new price more reflective of the value he added? If the answer is the latter, then what the heck was he thinking back in March? If the answer is the former, then a buyer may have a deal on his hands, if he wants to live in Baliwick Bailiwick.

4 Comments

Filed under Buying/Selling Greenwich Real Estate

4 responses to “Here’s a conundrum

  1. Anonymous

    I think it’s Bailiwick.

  2. christopherfountain

    Still hard to sell, though.

  3. Anonymous

    That area sucks, there is nothing redeeming about this crowded, Westchester-esque corner of town. Bad elementary/middle school districts and the drone of the Merritt P’way is never nice. And a 20 minute drive to downtown Greenwich is not exactly convenient. Spend your money in a nice area of Cos Cob or Riverside, you’ll be much happier.

  4. christopherfountain

    Geeze, if you’re going to express an opinion, come out and say it, don’t beat about the bush – some reader from out of town might be grateful for your candid thoughts!