Builders, don’t despair

284 Riverside Ave

284 Riverside Ave

A couple of smallish land parcels have sold fairly quickly recently, presumably to individuals who want to build new (because, so far as I know, builders can’t get construction  loans without a signed contract with a buyer. That was the case a few months ago; it may have loosened up).  This 0.33 acre in Riverside came on just a couple of weeks ago priced at $999. I thought that its price was probably negotiable, but never assume that you’re the only game in town – in Greenwich, you usually aren’t. I called the listing broker just now to show it this afternoon and learned that it has an accepted offer, and no further showings are allowed. Clients of mine just contracted for what is basically a land sale, on a larger scale and I have two more looking to build. So all is not dead out there in the land.

5 Comments

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5 responses to “Builders, don’t despair

  1. Anonymous

    And you deny the power of your blog?

  2. anonymous

    See Shiller’s article in today’s NYT about how house prices can reasonably continue a protracted, secular decline?

  3. Richard

    $999? Surely you left some digits off?

  4. fred

    its probably not in contract. you’ve been blackballed!