We will sell no house before its time

421 Field Point Road in Belle Haven has been listed for sale since 2007. It started at $11 million and is gradually creeping downward; today, it dipped below $8 million and now rests at $7.995. The sellers are obviously in no hurry to move and why should they be? They paid around $1 million for this place in 1994, fixed it up in 1996 (and spent what? Another million? – dubious), so regardless of eventual selling price, they’re sitting on a nice bit of appreciation. Assessed value is $5.749 million.

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3 responses to “We will sell no house before its time

  1. Anonymous

    Dear Chris,

    I remember a full page ad the seller ran in The
    Greenwich Time a couple of years ago, he tried to sell it as a FSBO.

    • christopherfountain

      That’s interesting, Anon, because the house has been under a listing contract continuously since September 4, 2007. Either he tried the do it himself method before that or perhaps he grew discouraged with his broker’s efforts and decided he was representing himnself anyway.

  2. Anonymous

    Dear Chris

    Sitting on a nice bit of appreciation is good. What
    is sitting on a big mortgage called? A smaller bit of appreciation! Check out the land records in Town Hall.