68 Park Ave. OG
68 Park Avenue in Old Greenwich sold yesterday for $2.665 miliion, just about full price. Assessment is $1.8 million so someone really, really wanted to live on this street. Nice (for sellers) when that happens.
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I pay over assessed value for babysitters, vacations in the Caribbean Christmas Week and Super Bowl tickets…why not my home, if it makes the family happy.
I don’t disagree, Family Guy and besides, while these assessments are a decent starting point, they aren’t all accurate – some are way off, either too hgh or too low. Regardless, if you have the money to put your family in a house they love in a neighborhood they want to live in, why not do it? That’s what house buying is all about, not securing the absolute rock bottom price. Otherwise we’d all live on Circle Drive!
I spend a good deal of time looking at real estate websites for houses. Praise where praise is due, hands down, Raveis has the best/easiest format to search, with the ability to select an entire county and a price. The worst, by far, is William Pitt. I can’t even find half the cities I want in their drop down menu and good luck with the fancy schmancy “draw your area” idea. And while I’m venting: NOTE TO REALTORS: if you use the term “Builder’s Own” in the headline, I translate that to mean “it’s so bad builder couldn’t sell so he’s forced to live in it himself before the bank takes it.” No photo of the front of the house = Move along, nothing to see here. My personal favorite – No address listed = corner of I-95 and Route 1. Websites needn’t be rocket science if an agency thinks like a buyer. Raveis gets that. Kudos.
How much does it cost to hire an independent appraiser in Greenwich? I’m just a hick from the midwest, but if I were spending a million dollars on a house, I’d probably spend $300-$500 on an independent appraisal. Heck, I might even spring for two or three, especially if I could use them to save myself six or seven hundred grand.
During the bubble, many people seemed to forget about buying a house as a place to live. As evidenced by folks who could pay a larger mortgage, but instead are choosing to strategically default. I used to see some of these types posting on real estate related blogs about how they’d decided to go all in and they could afford it and the house was a place for them to live. Now that their hands are all bloody from catching a falling knife, it’s a different story.
I see nothing wrong with someone paying a premium for a place they truly love. Sometimes it’s a good decision for them and their families. What sticks in my craw are the folks who then whine about being underwater.
Live in it. Love it.
All smart investments, Family Guy. I overpay as well for good help, great family trips and naturally, as many of you have surmised, the finest in hair care. It is worth it to me.
I could never afford you, GG, but I admire your attitude. : )
As I have told Mr. Greenwich Gal many times – you buy a Ferrari, you maintain a Ferrari. Comes with the territory.
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