A little sanity in the market place

34 Sheffield

34 Sheffield

This very nice house on Sheffield (off Lismore, off Round Hill) was purchased for $3.473,750 in 2004, renovated by Hobbes in 2005 and listed by Ogilvy in 2005 for $5.4 million. A little more than four years and a handful of price cuts later, it’s marked down today to $3.495 million. That sounds pretty good.

11 Comments

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11 responses to “A little sanity in the market place

  1. No Expert

    This is beyond a very nice house and beyond a very nice street; it seems to have all that Helsa Poppin was looking for: (1) well-built, (2) well-located house on a (3) nice piece of land. So what gives that someone hasn’t snatched this up? No 300-bottle wine cellar?

    • christopherfountain

      If one starts at a highly unrealistic price, nothing good happens. Now that it’s priced well, I predict it will sell quickly. Four years is a long time to endure having one’s house on the market, especially when the cure is so simple. But there you have it.

  2. Krazy Kat

    Chris: About how much was invested in the renovation?

    As you know I have a serious interest and this is the right vintage transaction and a rough comp.

  3. Stanwich

    I think the house is a bit unassuming for that much. Buyer in this range are expecting a bit more wow factor for several million dollars.

  4. anon

    Lismore/Sheffield are one of the most beautiful little cu-de-sacs in mid-country. Someone will def be happy there. Jealous..

  5. Former Domerich estate

    Hard to believe these 15 or 20 so two acre land lots with all utilities were selling for about $50,000-$75,000 each in 1968 when this former 90 acre potato farm (bought for about $400,000) was developed by Oliver Grace. This particular property sits next to a valley and largely filled in to get a house of it. Not the “best piece of land” but nice part of town. Used to be a yellow house. Pictures are always deceiving in real estate. Some better properties next door to here abut Round Hill Club. Many of the properties then took some imagination to build on what today is wetlands in many parts along Lismore.

  6. RR

    It does look ordinary from the outside. Why do you think it’s priced attractively? Work done, sq. footage, location..comps…all of the above?

    • christopherfountain

      To me, RR, it’s a classic New England look, on two + acres in a very desirable location. And, while many buyers insist on newer construction, with high ceilings and other nice features, others don’t. If I had to guess, I’d say it’s 75% new vs 25% old but that still leaves a substantial buyer pool. Not for 1965 builder “colonials” but for real classics. So there’s room for everyone to co-exist here. I’ve sent the listing to a couple of buyers I know will be interested and haven’t bothered those I know who won’t. Know your customer, eh?

  7. Helsa Poppin

    Actually this does look pretty nice . . . Maybe I’ll go see it. But I’m not getting my hopes up. There is so much that looks great on the listing but then there winds up being some fatal flaw. Usually, it’s the land – it’s below grade or it’s a swamp or it’s so rocky that you’d have to blast if you so much as wanted to build a shed.

    • christopherfountain

      Well if you do like it and buy it, Hellsa, do you want my address to have the seller send a commission check?