Welcome back to 2001

1 Ivanhoe Lane

1 Ivanhoe Lane

This is a nice house on an acre off North Street that sold for $2.7 million in June, 2001. It came back on the market in 2005 asking $3.995 but didn’t sell until 2006, at $3.150. It was listed again in August of this year for $2.995 and today was dropped to $2.795 million. I would think that with a teensey bit of negotiating you could do even better than the 2001 buyers did.

 

 

52 Pecksland

52 Pecksland

Similarly, this house on Pecksland sold for $2 million in 2000, was renovated and offered for sale at $3.495 in 2005. The current owners paid full price for it then, tried re-selling it in 2008 for $3.995 and have now dropped it to $2.795 million. Its assessment is only $2.141 but in this case, I think it’s already a pretty good price.

6 Comments

Filed under Uncategorized

6 responses to “Welcome back to 2001

  1. Anonymous

    In ’99, S&P 500 was ~1500 vs ~1100 today

    Greenwich RE today perhaps needs to be at least 25% cheaper than ’99 prices to satisfy (IB) equity-rich, valuation-savvy buyers, even before applying discounts for illiquidity and commissions/taxes of RE exits

  2. Accolay

    Those awnings on the Ivanhoe home are absolutely absurd!

  3. Old Piedrahita lair-52 Pecksland

    20 years ago, Corinna and Andres were changing diapers in this expanded cape-once a carriage house to the nicer house near the road. Noel’s always gravitated toward carriage houses in nicer neighborhoods – good way to turn a million dollar bum into a 2 million dollar gem. Follow their example instead of critisicm. Love, Noel lover.

    • christopherfountain

      But what if I don’t want to end up in jail or on the run from angry Colombian drug lords, Lover?

  4. Awnings - on North Street

    Awnings are a feature best left in Glenville.

  5. G'wich Transplant

    Does 52 have the same problem as 49 (i.e., no backyard (0ther than a swamp))? Looks that way from the bing map. If so, it may face a similar fate.