Daily Archives: June 23, 2009

A brick Whopper

French RdThis is a good looking new house on French Road (off of Round Hill) and it’s probably the only house on the broker tour today that I’ll bother seeing. 2.8 acres, swimming pool, all the usual countless square feet; you get the picture. It’s asking $12.7 million which would certainly set a record for French Road but not for Round Hill, so who knows? 253 Round Hill just sold for $16.5 so clearly there’s still a market for this price range. I was hugely disappointed, by the way, when a sale of this property to a gentleman in the carting business in Brooklyn fell through earlier this year. Actually, it seems that there was never a deal, just a fellow who liked to tour Greenwich with his girlfriend, his gold jewelry collection and his entourage of goombahs pretending to be ready to pay big bucks for a real classy house. Darn it, I was so looking forward to Monica Noel welcoming him to the neighborhood and inviting him, his bodyguards and the girlfriend over for tea with Walter and the Fabulous Five. The Noels could have used the company and the sanitation king would have enjoyed seeing how the (formerly) rich do things. It’s an opportunity lost but idea has been added to my novel on the Noels, so it will probably live on in fiction.

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Maybe we’ll have a summer season this year

The traditional Spring selling season was a bust, but the seven sales contracts reported yesterday was more activity than we’ve seen in a long time and I hope we’ll see more of it (I know of at least three more deals just waiting on some final, minor contingencies). My own experience is that the buyers I represent are still willing to buy and there is an increasing inventory of houses to select from that have now been marked down enough that they represent reasonable values. Still room to argue them down, in most cases, but when $9 million asking prices drop to $5, or $3.7 to $2.4, there’s hope that sellers are adjusting to reality. May they keep it up. There are still hundreds of houses out there that aren’t even close to a sellable price, but perhaps their owners will be inspired by seeing what happens to those who do drop their price.

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