Not much real estate activity these days, nor do I expect to see much until well past Christmas (that said, there are plenty of buyers out looking – they just don’t seem to be in a rush to commit). Today we have one sale: 63 Lancer Road, one of those built-on-a-slab houses that went up in the early 60’s on the farm across from North Mianus School, $874,000 on an ask of $1.125, and one contract, 9 Roosevelt Avenue in Old Greenwich.
Roosevelt offers yet another example of overpricing gaining a seller nothing. It was originally listed for $1.850 million, a ridiculous sum, and went exactly nowhere for a year. The next agent to take it on reduced it to $1.315 which was still too high but it attracted at least one offer, from my clients. That was rejected as too low and so the house stayed unsold. In October agent number three came on the scene and wrangled a price reduction to $1.195, very close to my clients’ offer of last spring. We bid again. lost it to whoever is buying it now, and we’re happy – found a better house, and they’re happy, so there you have it.
Assessment on the house is $1.027, so $1.2 was not a crazy asking price. $1.850 however, was, and that’s not my opinion, it’s the market’s.