Down down down

Buyers are swarming – my pal Frank and I have a ton of them, all looking for – surprise! – bargains. In the meantime, sellers are maybe getting a tad more realistic, slowly. As they do, we’ll start seeing sales.

11 Juniper
11 Juniper

This house, on the Stamford border but still in Greenwich, asked $5.3 million back in 2002 and sold for $4.3 that November (over-pricing is not a new phenomenon in Greenwich). Back on the market at below 2002 prices, asking $4.2.

And 31 Sound Beach Avenue sold in a bidding war back in 2006 for $1,000,100 (ask was $1.095) . Today it’s up for sale at $1.075. Acceptance of a loss is the first step toward recovery.


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5 responses to “Down down down

  1. REF

    Dear Chris,
    11 Juniper Hill was once owned by the actor Jay Thomas whose character was Eddie LeBec on the TV show “Cheers”. Eddie was the ice hockey player married to Cheers waitress Carla Tortelli.
    Jay Thomas spent a fortune on that pool.

  2. pulled up in OG

    Typo on 31 Sound Beach, Chris?
    $1,000,100 instead of $1,100,000.

    A few more steps required here, methinks.
    To go with the few steps to I95 here.

  3. greenmtnpunter

    Yes, CF, as we old pro’s know from recessions past, this is when brokers really earn their commissions- and then some- by providing reality therapy to sellers. Brokers have to make the market, and most of the making these days is on the seller side, getting sellers to swallow very bitter medicine. It is damn hard and unpleasant work.

  4. Stanwich

    $1m+ for a 1600 sf house with in a stone’s throw of the elevated portion of I-95. I feel bad for seller’s these days because this one is a really tought sell.