Daily Archives: August 7, 2009

Unemployed? Creditors at the door? Grab a shovel and head on up to 175 Round Hill Road.

The Hamptons are so over - we'll bury it in Greenwich

The Hamptons are so over - we'll bury it in Greenwich

The rumors have already started that Bernie Madoff buried millions in his Long Island estate, but so far, you’re getting this tip ahead of everyone: you want gold, head up Round Hill Road. Yo ho ho and a bottle of mojitos!

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So where are my tickets?

"Fountain? Never heard of him."

"Fountain? Never heard of him."

Former GHS and Notre Dame star center John Sullivan may start as center for the Minnesota Vikings this season. Now, as a parent, I’m well aware of the ingratitude of children – sharper than a serpent’s tooth and all that – but I do wish Mr. Sullivan would pause and reflect on how I steered him toward the success he is enjoying today. John was on the baseball team I coached when he was about eight and maybe 4 1/2 feet tall and if I hadn’t been the most inept coach in Riverside (hey, it’s a volunteer position and they were desperate for any adult willing to show up on weekdays at 4:00 pm), he might have descended into a life of baseball -chewing tobaccy, late night bus trips from one meaningless minor league game to another, athlete’s foot, the whole bit. But no, out of despair, the boy abandoned baseball and discovered football where his great athletic talents  blossomed. The rest is history, but is he grateful? Not so I’ve noticed – I haven’t heard from him since that dismal summer – we might have one one game, by default – memory fades, mercifully, even though I’ve followed his career. The guy probably thinks that growing to be 6’4, 300+ pounds plus endless summers of training were the key to success but I know better; I guess that knowledge will have to be my reward.

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Friday happenings

On the run since 7 this morning and no time to post until now but obviously I’m not the only agent who’s busy. The difference is, some have been more productive than I. One sale reported today, and four contracts. That’s nice, but it’s interesting to see the histories of these properties.

19 Dingletown Road sold for $1.6 million in 1998 and was listed for sale again, untouched so far as I could tell, for $2.495 in 2008. It sold today for $1.6 million, so at least it provided symmetry to the seller, if not riches.

510 North Street, a grand old, tired brick home (1924?) on 2.8 acres remaining from its original land, was listed by David Ogilvy in 2002 for $11.5 million. The Ogilvy magic wasn’t enough to overcome the demerits of the house but it did finally sell after a few broker and price changes for $6.550 in 2005. The buyers renovated and put it back up for sale this past May with Shore & Country at the very smart price of $5.995, and already has a buyer.

407 Sound Beach Avenue, new construction was listed at $3.995 a long time ago and finally dropped to $3.350. It, too is under contract.

65 Meadow Road in Riverside started at $4.750 an recently dropped to $3.995 and has a contract today. My guess, and it’s just a guess, is that it’s selling for around $3.5.

143 Otter Rock in Belle Haven has been for sale practically forever, starting at $6.2 million in 2002 and ending up today, again after many brokers and price changes,with Katharine Adams, at $5.395. And lo, a contract.

Finally, 14 Ben Court, in Old Greenwich, was a land deal priced at $1.495. I’d pegged it as worth maybe $1.1ish but 24 days after being listed it has a contract so it shows what I know.

But, looking at these histories, it’s clear that with the exception of Ben Court and 510 North Street, all these sellers endured long, long periods where their houses were on the market but not selling, all because they were chasing illusory prices. As the previous owners of 510 North would probablyagree, overpricing your house ends up annoying and inconveniencing you with no concomitant reward. What a bummer.

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