Foreclosure comes to Greenwich

It’s always been here of course but we’re seeing more lis pendens filed. Or I think we are. 11 Green lane, in Pemberwick, showed up again today as a short sale – there’s more owed on the house than the house is worth. It was originally listed at $895,000 in April 2007 (the owner paid $699 for it in July, 2004) and endured nine price cuts over the ensuing months until it finally hit $515,000 in October. Now it’s back up to $544,300, a number precise enough to make me think that that’s what’s owed. Someone has obviously lost out on this property, and that’s too bad. The listing says “fast sale required” but offers only a 1% seller’s commission, which probably isn’t going to drive the real estate community into a frenzy of activity.

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Filed under Foreclosure

2 responses to “Foreclosure comes to Greenwich

  1. bargain hunter

    Easy to say now, I know, clearly wasn’t even worth $699 in 2004, and nowhere near now, showing that prices are surely below 2004 levels. And yes, I have seen the outside, a cute little street with a few Rotweilers for neighbours. Always draws me and my toddlers!

  2. ljsosa

    You may find this interesting: a foreclosure auction was held for property this past July–I attended. One buyer put down deposit and was willing to buy for 500k. Bank bid +/- 600k. The market has gotten much worse since August.