Daily Archives: January 25, 2010

Global Warmists agenda revealed

No more economic growth can be permitted. I wonder what the billions of people living in poverty will think of that? Kinda tough on Europe and the US, too, since we geezers are counting on growth to pay our pensions. But “The World Without Us” didn’t become a best seller for no reason -they love this stuff.

10 Comments

Filed under Uncategorized

When life hands you a lemon, make lemonade

Man with AIDs (or so he claimed) holds up sandwich shop with hypodermic needle.

Comments Off on When life hands you a lemon, make lemonade

Filed under Uncategorized

Did Haiti’s earthquake increase the liklihood of larger ones?

A different, but better looking Henry Fountain (Ashurst)

That’s what some scientists fear, according to cousin Henry Fountain and he should know -he’s the only one of ten of us to get into Yale. That didn’t do anything good for his political acumen, of course, but he’s pretty solid on the science stuff.

Much of what is known about the seismic activity around Port-au-Prince has been gleaned from historical accounts of previous quakes. While far from precise, these accounts suggest a century-long, westward-marching sequence of quakes along the fault, beginning with one in 1751 in the Dominican Republic at the fault’s eastern end and including the 1770 earthquake that destroyed Port-au-Prince.

That raises the possibility that the Jan. 12 earthquake could be the beginning of a new sequence occurring over decades, with each successive quake redistributing stresses along the fault. “It’s certainly possible and it’s really something we’re very concerned about,” said Carol S. Prentice, a geologist with the geological survey in Menlo Park.

4 Comments

Filed under Uncategorized

This is either the end of cap and trade or the Democrats – I’d settle for either one

Pew Survey: global warming dead-last on Americans’ list of concerns.

1 Comment

Filed under Uncategorized

Greenwich’s Plainfield Asset Management toast?

Antares better hope not. The company, under investigation by New York and , now that someone else has done the leg work for him, Connecticut’s own Richard Blumenthal, is paying $7 million a year on ultra-plush digs at 100 West Putnam Avenue. Blumenthal is such a joke – it’s a shame he’ll be moving to the Capitol to work greater mishief.

UPDATE: Here’s the Fortune article that recounts Plainfield’s troubles. From managing $5 billion before the crash, Plainfield’s down to $560 million plus $2 billion he’s holding captive until 2012 from investors who want their money back. That doesn’t sound like a strong business model.

1 Comment

Filed under Uncategorized

To be honest, I hadn’t noticed its absence

U.S. lifts ban on Haggis

 

Waiting for Bobby Burns

2 Comments

Filed under Uncategorized

You just can never tell

390 North Street

It’s fair to say that I was not keenly impressed when I saw this house at 390 North Street, and I thought its asking price of $5.6 million was as steep as its driveway. But today, just 62 days after being listed, it is under contract. Obviously someone saw charm and value where I did not. Which is what makes the world go ’round.

11 Comments

Filed under Uncategorized

Off to the knacker’s?

54 Havemeyer Lane

This new construction on Havemeyer Lane asked $2.195 million when built in 2008, an improbable reach for such a busy street and location. It eventually dropped to $1.175 but still didn’t sell and today was withdrawn from the market. I suspect that the lender has taken it back and we’ll see it again at a new price. Or I hope so – some of these bank-owned properties come back at the exact price they couldn’t sell for before, which just delays the inevitable.

UPDATE: Suspicion confirmed – order of strict foreclosure entered, this is now a bank owned (“REO”) property. When it sells for, say, $975,000, it will play hell on Havemeyer comparables.

Comments Off on Off to the knacker’s?

Filed under Uncategorized

Inventory growing

Which it does every year at this time, so not to fret. Current total of single family homes for sale is 525. This compares to inventory this week in past years as follows (all data from past years lifted from Surf&Turf Realty):

2009: 560

2008: 460

2007: 449

2006: 399

Assuming history repeats itself, we should see inventory continue to climb until the penultimate week of June and then start dropping. Previous high inventory counts, always around that June week, were:

2009: 768

2008: 612

2007: 575

2006: 531

Pessimists might note that, five months before the high water mark, we’re already just about at 2006’s peak inventory. But that’s only for pessimists.

4 Comments

Filed under Uncategorized

Havemeyer

24 Nimitz has just been listed for $785,000. Assessment is $784,000. Interesting.

4 Comments

Filed under Uncategorized

And around we go

9 Circle Drive sold new for $1.7 million in 2005 and sold again for $1.850 in 2008. It’s back on today asking $1.895. Assessment has remained at $966,000. We’ll see.

1 Comment

Filed under Uncategorized

Speak of the devil

28 Boulder Brook Rd

Just last week I mentioned the two foreclosures, one distress sale and the empty spec house on this street and wondered what those troubles would do to street values. Now we can find out. Today 28 Boulder Brook came on, asking $2.595 million. This house failed to sell for $2.995 back in 2007 but did move when it dropped a year later to $2.375. Assessment is $1.660 million.

The house next door, #35, is in the foreclosure process and I might want to check with that owner or the lender because the loan is just $1.2 million and a discount might be available. Or you can go two doors down to #39 and see what you can negotiate on that foreclosure. Or, rounding the bend and heading just a few more doors north, stop in at the unsold spec house and see if they’re not tired of trying to get an unrealistic price.

Just a suggestion, of course.

4 Comments

Filed under Uncategorized

AGW Deniers!

WHO denounces swine flu deniers.”The science is settled, the debate is over. Polar bears, women and minorities hardest hit!”

3 Comments

Filed under Uncategorized

A contract and a sale

15 Carleton Street

15 Carleton (off lower Lake Ave) which we’ve discussed before, is reported as “pending” this afternoon. Bought new in 2008 for $2.795 by an out of town buyer, it was last listed for $2.249.

25 Weston Hill Road in Riverside, a nice little house, asked just $1.189 when listed this fall and sold yesterday for $1.045. Assessment (70% of 2005 value) is $1.017 so it would appear both buyer and seller did well.

5 Comments

Filed under Uncategorized

But not in Greenwich

December sales of existing homes drop more than expected.

Jan. 25 (Bloomberg) — Sales of existing U.S. homes plunged in December more than anticipated, the month after a government tax credit was originally due to expire.

Purchases decreased 17 percent, the biggest decline since records began in 1968, to a 5.45 million annual rate from 6.54 million pace the prior month, the National Association of Realtors said today in Washington. The median sales price increased for the first time in two years, reflecting fewer first-time buyers, the group said.

If first time buyer’s credit influenced the national market it had no affect here in Greenwich, no doubt because a whopping $8,000 makes no nevermind. In town, we saw 41 single family homes go to contract in November and 43 in December.

Comments Off on But not in Greenwich

Filed under Uncategorized

Third time’s the charm

After convicting him and sentencing him to death for a third time last week, Iraq has finally hanged Chemical Ali. See you in Paradise, fella.

Comments Off on Third time’s the charm

Filed under Uncategorized

Even rentals seem to be moving all of a sudden

20 Innis Lane, a pretty plain re-do south of the Village, asked $6,250 as rent and is now rented at $6,000. Same result for 26 Innis, also rented over the weekend for $6,000. That’s interesting.

6 Comments

Filed under Uncategorized

And new construction in Riverside

24 Verona Drive, a yet-to-be-built house in Riverside has finally found a buyer and is now under contract. The builder was asking $3.9 but the final selling price can obviously fluctuate, depending on how much house the buyer wants.

1 Comment

Filed under Uncategorized

Waterfront still sells

17 Nawthorne Lane in Old Greenwich, two lots better reunited as a one acre waterfront  parcel, came up for sale last Wednesday for $4.5 million. I took clients to see it Thursday morning and they liked it, but it was gone by Friday. After enjoying the luxury of time during the past two years, I’m not used to this.

6 Comments

Filed under Uncategorized

White House shake-up begins

Obama addresses Sixth grade class

After flubbing his extemporaneous speeches the Messiah has reverted to the tool that earned him the sobriquet of Gifted Orator: the teleprompter. Rather than appear in public without one he now carries a prompter wherever he goes, even to speak to a group of 11-year-olds. Wonder if he dose that at the White House with Michelle and the kids?

5 Comments

Filed under Uncategorized