Angry reader # 20001, “Greenwich Realtor” writes this gently chiding note:
Hey Mr. O so Cynical (or should I say O so stupid, not to mention bad speller!).
You are obviously a 1 dimensional thinker. To pontificate that the brokers have such power as to manipulate housing prices is laughable. And BTW, Greenwich realtors are among the most professional you will find if you could only get your head out of your a** for just 1 moment. Enjoy your day and please, get a life……
Here’s an example of the professionalism Greenwich Realtor is so proud of:
- 15 Almira Drive
This bank-owned property is currently for sale at $534,900, not a bad price for a remodelled house, even if it is just 864 square feet according to its tax card. It was sold, unremodeled, by a real estate agent for $630,000 in October 2005 and another agent relisted it after the remodeling for $989,000 in March 2006. Our local MLS shows that it expired unsold and I hope that’s true, but Trulia shows that someone paid $960,000 on July 28, 2006. All that magic was performed by one of my colleagues. Nice work.
Another house, one that is actually very nice, if a tad geologically challenged, is 72 Laddins Rock Road in Old Greenwich. It sold as new construction for $1.3 million in July ’04 and its buyers re-listed it, with a Greenwich agent, for $1.850 million in February last year. That was an unrealistic price, at least from my perspective with my head tucked away where it is, and its price slowly dropped. A few months ago I mentioned it in this blog and suggested that it seemed somewhat over-priced. I wasn’t telling anyone anything new, because the market had spoken during the past nine months and said exactly that, but I still received a phone call from its miffed listing agent, complaining that I was hurting her sellers. I hope not, and I wasn’t trying to; I was just reporting on what I saw. Regardless, without any commentary whatsoever, I will now report the latest news about this property: its price dropped to $1.375 today.
UPDATE: I just heard from “Greenwich Realtor” – he was actually responding to one of the commentators who seems to think that Realtors make the market. Oh well. We do have some really good, professional people in our ranks (of whom Greenwich Raealtor is one, which is why I was so surprised to track down his identity) and then we have some who wouldn’t know a zoning regulation from a wet bar. Takes all kinds.